NOTE 9 LOANS AND RECEIVABLES FROM BANKS
As of December 31, 2017 and 2016, loans and receivables from banks were as follows:
| As of December 31 | |||||
| 2017 | 2016 | ||||
| MCh$ | MCh$ | ||||
| Local Banks | |||||
| Loans to local banks | — | — | |||
| Allowances for loans losses | — | — | |||
| Subtotal | — | — | |||
| Foreign Banks | |||||
| Interbanks cash loans | 862 | 59,393 | |||
| Loans to foreign banks | 13,875 | 27,618 | |||
| Non-transferrable deposits with foreign banks | 21,544 | 63,769 | |||
| Allowances for loans losses | (208 | ) | (212 | ) | |
| Subtotal | 36,073 | 150,568 | |||
| Banco Central of Chile | |||||
| Deposits in the Central Bank of Chile | 34,004 | — | |||
| Subtotal | 34,004 | — | |||
| Total | 70,077 | 150,568 | |||
The movement in the allowances for loan losses as of December 31, 2017 and 2016 was as follows:
| As of December 31, 2017 | |||||||||
| Local Banks | Foreign Banks | Total | |||||||
| Notes | MCh$ | MCh$ | MCh$ | ||||||
| Balance as of January 1, 2017 | — | (212 | ) | (212 | ) | ||||
| Write-offs | — | — | — | ||||||
| Established provisions | 27 | — | (226 | ) | (226 | ) | |||
| Released provisions | 27 | — | 209 | 209 | |||||
| Impairment | — | — | — | ||||||
| Exchange differences | — | 21 | 21 | ||||||
| Balances as of December 31, 2017 | — | (208 | ) | (208 | ) | ||||
| As of December 31, 2016 | |||||||||
| Local Banks | Foreign Banks | Total | |||||||
| Notes | MCh$ | MCh$ | MCh$ | ||||||
| Balance as of January 1, 2016 | (17 | ) | (53 | ) | (70 | ) | |||
| Write-offs | — | — | — | ||||||
| Established provisions | 27 | (29 | ) | (278 | ) | (307 | ) | ||
| Integration Itaú Corpbanca | — | (120 | ) | (120 | ) | ||||
| Released provisions | 27 | 46 | 240 | 286 | |||||
| Impairment | — | — | — | ||||||
| Exchange differences | — | (1 | ) | (1 | ) | ||||
| Balances as of December 31, 2016 | — | (212 | ) | (212 | ) | ||||