NOTE 21
OTHER LIABILITIES
The other liabilities line item is as follows:
| As of December 31, | ||||
| 2017 | 2016 | |||
| MCh$ | MCh$ | |||
| Accounts and notes payable | 196,965 | 154,159 | ||
| Unearned income | 601 | 509 | ||
| Guarantees received (margin accounts) (1) | 408,313 | 480,926 | ||
| Notes payable through brokerage and simultaneous transactions | 17,799 | 27,745 | ||
| Other payable obligations (2) | 58,921 | 80,100 | ||
| Withheld VAT | 1,887 | 1,964 | ||
| Other liabilities (3) | 60,877 | 50,382 | ||
| Total | 745,363 | 795,785 | ||
| (1) | Guarantee deposits (margin accounts) collaterals associated to 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. |
| (2) | Other payable obligations mainly relates to settlement of derivatives and other financial transactions derived from the operation of the Bank. |
| (3) | Other liabilities: mainly include reimbursement of insurance commissions. |