NOTE 15
OTHER ASSETS
Other assets item includes the following:
| As of December 31, | ||||||
| 2017 | 2016 | |||||
| MCh$ | MCh$ | |||||
| Assets for leasing (1) | 48,099 | 44,840 | ||||
| Assets received or awarded in lieu of payment | ||||||
| Assets received in lieu of payment | 20,904 | 26,598 | ||||
| Assets awarded at judicial sale | 24,800 | 26,895 | ||||
| Provision on assets received in lieu of payment or awarded | (1,440) | (7,558) | ||||
| Subtotal | 44,264 | 45,935 | ||||
| Other assets | ||||||
| Guarantee deposits (margin accounts) (2) | 323,767 | 396,289 | ||||
| Gold investments | 478 | 446 | ||||
| VAT credit | 9,570 | 8,941 | ||||
| Income tax recoverable | 1,381 | 22,244 | ||||
| Prepaid expenses | 116,512 | 148,288 | ||||
| Assets recovered from leasing for sale | 4,235 | 6,040 | ||||
| Pension plan assets | 921 | 1,637 | ||||
| Accounts and notes receivable | 59,574 | 56,624 | ||||
Notes receivable through brokerage and
simultaneous transactions
|
68,272 | 60,632 | ||||
| Other receivable assets | 53,500 | 15,082 | ||||
| Other assets (3) | 33,837 | 40,274 | ||||
| Subtotal | 672,047 | 756,497 | ||||
| Total | 764,410 | 847,272 | ||||
| (1) | Assets available to be granted under the financial leasing agreements. |
| (2) | Guarantee deposits (margin accounts) correspond collaterals associated with derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result the the Bank deliver or receive collateral. |
| (3) | Other assets mainly include settlement of derivatives and other financial transactions. |