On reconciliation of the names of published aggregates

Due to the expansion of the array of aggregates published by the Bank of Russia on the volume of fictitious transactions, for the purposes of more convenient and correct usage thereof, the Bank of Russia has changed the name of the “Fictitious transactions” aggregate in publications on the balance of payments of the Russian Federation. The new name of the aggregate is “Non-classified transactions” which more precisely reflects its substance, whilst the methodology of compiling data under the referenced balance of payments’ item, encompassing certain cross-border money-transferring transactions, remains unchanged.

Complete data on the volume of fictitious transactions which, besides cross-border transactions, also include transactions with cash foreign currency, transactions with funds’ transit flows across clients’ accounts in Russian credit institutions as well as other transactions having an unusual nature and featuring a lack of explicit economic sense and evident lawful purposes, are disseminated in the Bank of Russia’s publication “Composition of Fictitious Transactions in the Banking Sector” which is posted twice a year on the official Bank of Russia website within Bank of Russia today directory under Combating money-laundering and financing of terrorism/ Combating legalization (laundering) of criminal income and financing of terrorism in the Russian banking system and in other segments of financial markets of the Russian Federation subdirectory.

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