¹ The international reserves are highly liquid financial assets that the Bank of Russia and Ministry of Finance have at their disposal on the reporting date. The international reserves are made up of monetary gold, special drawing rights (SDR), reserve position at the IMF and foreign exchange. The foreign exchange includes the Bank of Russia’s and Ministry of Finance’s foreign exchange assets in the form of cash, reverse repo with nonresidents, bank deposits at nonresident banks (having not less than A rating by the classification of the Fitch IBCA and Standard and Poor’s or A2 by the classification of the Moody’s) as well as government and other securities issued by nonresidents with a similar rating. Starting from September 1, 1999, a sum equivalent to the balances in foreign currency on the correspondent accounts of resident banks in the Bank of Russia is deducted from the above assets except the funds allocated by the Bank of Russia to the Vneshekonombank for servicing the government foreign debt.