NOTE 20 OTHER LIABILITIES AND LIABILITIES DIRECTLY ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE
a) As of December 31, 2017 and 2016, the Bank´s other liabilities are as follows:
| As of December 31, | |||||
| 2017 | 2016 | ||||
| MCh$ | MCh$ | ||||
| Accounts and notes payable (1) | 348,036 | 190,111 | |||
| Dividends payable | 703 | 298 | |||
| Income received in advance | 7,850 | 6,383 | |||
| Valuation adjustments for hedges | 3,091 | — | |||
| Creditors through intermediation | 21,933 | 22,648 | |||
| Guarantees constituted by threshold effect (2) | 79,589 | 49,776 | |||
| Others liabilities | 2,233 | 594 | |||
| Total | 463,435 | 269,810 | |||
(1) Group obligations for business operations, such as withholding taxes, social security contributions, balances due on purchases of materials, balances due on obligations for leasing contracts for acquisition of fixed assets and other.
(2) Guarantees from financial operations.
b) As of December 31, 2017 and 2016, liabilities directly associated with non-current assets held for sale were as follows:
| As of December 31, | |||||
| 2017 | 2016 | ||||
| MCh$ | MCh$ | ||||
| Fair value liabilities SMU CORP S.A. | — | 7,032 | |||
| Total | — | 7,032 | |||