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Survey of Foreign Exchange and Derivatives Market Activity in Russian Federation (based on methodology of Bank for International Settlements)

Table Complementary

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
COMPLEMENTARY INFORMATION REQUIREMENTS

Country RUSSIA
1. Information on the number of business days Number of days 21
2. Information on coverage and concentration FX Turnover Derivatives Turnover
a) The final number of participating institutions 118 102
b) The number of institutions accounting for 75 percent of the reported totals. 18 13
3. Data on forward contracts for differences (incl. non-deliverable forwards)
Turnover of forward contracts where only the difference between the contracted forward outright rate and the prevailing spot rate is settled at maturity.
G10 currencies
only(1)
Non-G10 currencies(2)
In Africa & Middle East In Asia & Pacific In Europe In Latin America & Caribbean
Turnover of forward contracts for differences (in millions of US dollar) 4,450 6 213 32,243 11
(1) Contracts that only involve G10 currencies on both sides of the transaction.
(2) Contracts that involve G10 currencies only on one side of the transaction or non-G10 currencies on both sides of the transaction. In case of transactions involving non-G10 currencies from different regional areas, please split the notional amount evenly between the two relevant columns in the form.

Table A1

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments Domestic currency against
USD EUR JPY GBP CHF CAD AUD SEK Other2 TOT
SPOT3
with reporting dealers 398,521 11,070 1 54 2 6 12 1 409,666
— local 262,617 5,823 15 1 6 12 1 268,474
— cross-border 135,904 5,247 1 39 1 0 141,193
with other financial institutions 112,266 5,661 1 18 5 19 117,970
— local 72,118 3,225 1 10 3 6 75,364
— cross-border 40,148 2,435 8 2 13 42,606
with non-financial customers 130,792 11,623 45 83 63 6 0 17 963 143,592
— local 45,378 7,584 45 76 62 6 0 17 963 54,130
— cross-border 85,414 4,040 0 7 1 0 0 0 0 89,462
TOTAL 641,579 28,355 47 155 70 11 0 29 982 671,228
OUTRIGHT FORWARDS4
with reporting dealers 11,049 248 8 11,306
— local 2,142 102 2,244
— cross-border 8,907 147 8 9,062
with other financial institutions 15,479 118 15,598
— local 12,319 111 12,430
— cross-border 3,160 7 3,168
with non-financial customers 3,664 1,104 1 2 4,770
— local 1,544 954 1 2 2,500
— cross-border 2,120 150 2,270
TOTAL 30,192 1,470 8 1 2 31,673
Maturities
seven days or less 2,123 115 2 2,240
over seven days and up to one year 23,405 1,346 6 1 2 24,760
over one year 4,664 9 4,673
FOREIGN EXCHANGE SWAPS5
with reporting dealers 146,586 2,331 148,917
— local 107,915 2,109 110,025
— cross-border 38,671 221 38,892
with other financial institutions 61,824 3,310 3 65,137
— local 50,949 3,241 54,190
— cross-border 10,875 69 3 10,946
with non-financial customers 9,363 2,357 11,720
— local
— cross-border 9,363 2,357 11,720
TOTAL 217,773 7,998 3 225,774
Maturities
seven days or less 214,648 7,923 3 222,574
over seven days and up to one year 3,028 75 3,103
over one year 97 97
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 See also table A4 for a more detailed breakdown of total turnover in "other“currencies.
3 Excluding “tomorrow/next day” transactions.
4 Including non-deliverable forwards and other contracts-for-differences.
5 A swap is considered to be a single transaction in that the two legs are not counted separately. Includes “tomorrow/next day” transactions.

Table A2

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments USD against
EUR JPY GBP CHF CAD AUD SEK Other2 TOT
SPOT3
with reporting dealers 116,610 24,586 30,130 1,015 2,929 1,190 53 2,059 178,571
— local 34,471 9,774 13,375 128 502 14 0 13 58,276
— cross-border 82,139 14,812 16,755 887 2,427 1,176 53 2,046 120,296
with other financial institutions 86,175 7,361 18,234 678 1,418 175 3 385 114,430
— local 39,177 193 5,859 81 325 2 1 3 45,641
— cross-border 46,998 7,169 12,375 597 1,093 173 2 381 68,790
with non-financial customers 77,228 2,628 25,265 350 19,579 1,566 9 335 126,960
— local 1,882 280 1,240 142 42 57 8 279 3,931
— cross-border 75,345 2,347 24,025 208 19,537 1,509 1 56 123,029
TOTAL 280,013 34,575 73,629 2,043 23,926 2,931 65 2,779 419,961
OUTRIGHT FORWARDS4
with reporting dealers 333 44 20 9 25 295 727
— local 1 1
— cross-border 332 44 20 9 25 295 726
with other financial institutions 2,556 124 343 6 126 3,155
— local 15 15
— cross-border 2,541 124 343 6 126 3,141
with non-financial customers 455 51 0 2 0 93 600
— local 161 20 0 0 181
— cross-border 294 31 2 93 419
TOTAL 3,344 219 363 11 25 99 421 4,482
Maturities
seven days or less 708 33 13 2 25 93 56 930
over seven days and up to one year 2,636 166 350 9 0 6 223 3,391
over one year 20 142 162
FOREIGN EXCHANGE SWAPS5
with reporting dealers 164,616 29,028 48,648 2,018 15,167 1,374 25 7,071 267,949
— local 44,140 13,638 23,512 328 2,344 20 10 83,993
— cross-border 120,476 15,390 25,136 1,691 12,823 1,354 25 7,062 183,956
with other financial institutions 55,696 9,053 5,185 1,099 626 423 4 2,032 74,119
— local 26,335 619 780 235 63 3 28,034
— cross-border 29,361 8,434 4,404 864 564 421 4 2,032 46,084
with non-financial customers 13,306 8,132 11,608 679 2,036 71 35 35,866
— local 892 104 654 55 103 42 35 1,884
— cross-border 12,414 8,028 10,954 625 1,932 29 33,982
TOTAL 233,618 46,213 65,441 3,797 17,829 1,868 30 9,138 377,934
Maturities
seven days or less 232,735 46,126 65,427 3,742 17,801 1,868 29 9,069 376,798
over seven days and up to one year 882 87 9 54 28 0 0 69 1,131
over one year 5 5
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 See also table A4 for a more detailed breakdown of total turnover in “other” currencies.
3 Excluding “tomorrow/next day” transactions.
4 Including non-deliverable forwards and other contracts-for-differences.
5 A swap is considered to be a single transaction in that the two legs are not counted separately. Includes “tomorrow/next day” transactions.

Table A3

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments EUR against RESI-
DUAL3
GRAND
TOTAL4
JPY GBP CHF CAD AUD SEK Other2 TOT
SPOT5
with reporting dealers 2,552 3,168 148 286 41 1 11 6,208 1,121 595,566
— local 236 78 33 1 347 7 327,104
— cross-border 2,316 3,091 115 286 40 1 11 5,861 1,114 268,463
with other financial institutions 649 903 75 13 1 2 13 1,656 208 234,265
— local 39 55 0 0 0 0 94 5 121,104
— cross-border 610 848 74 13 1 2 13 1,562 204 113,161
with non-financial customers 721 3,835 146 34 2 1 3 4,742 692 275,986
— local 247 46 43 0 1 3 341 623 59,024
— cross-border 474 3,789 103 34 2 0 4,401 69 216,962
TOTAL 3,921 7,906 369 333 45 4 28 12,606 2,021 1,105,817
OUTRIGHT FORWARDS6
with reporting dealers 204 12,237
— local 2,245
— cross-border 204 9,991
with other financial institutions 67 18,820
— local 12,445
— cross-border 67 6,376
with non-financial customers 0 5,370
— local 2,681
— cross-border 0 2,689
TOTAL 271 36,427
Maturities
seven days or less 28 3,198
over seven days and up to one year 172 28,323
over one year 71 4,906
FOREIGN EXCHANGE SWAPS7
with reporting dealers 3,776 9,908 349 401 52 6 1 14,494 4,055 435,414
— local 151 5,263 5,414 415 199,847
— cross-border 3,625 4,645 349 401 52 6 1 9,080 3,639 235,567
with other financial institutions 39 430 24 44 6 544 1,038 140,837
— local 11 24 0 35 82,259
— cross-border 29 407 24 44 6 509 1,038 58,578
with non-financial customers 83 4,612 27 6 4,727 392 52,705
— local 59 120 27 206 17 2,108
— cross-border 23 4,491 6 4,521 375 50,597
TOTAL 3,898 14,950 400 450 52 12 1 19,764 5,484 628,956
Maturities
seven days or less 3,898 14,950 378 428 26 12 0 19,694 5,396 624,461
over seven days and up to one year 22 22 26 0 71 89 4,394
over one year 102
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 See also table A4 for a more detailed breakdown of total turnover in “other” currencies.
3 “Residual” covers all currency pairs except those involving the domestic currency, the USD and the euro.
4 Covers the sum of the totals in tables A1, A2, A3 and the column “Residual”.
5 Excluding “tomorrow/next day” transactions.
6 Including non-deliverable forwards and other contracts-for-differences.
7 A swap is considered to be a single transaction in that the two legs are not counted separately. Includes “tomorrow/next day” transactions.

Table A4

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments Total turnover in listed currencies against all other currencies2
ARS AUD BGN BHD BRL CAD CHF CLP CNY COP CZK DKK EEK GBP HKD HUF IDR ILS INR JPY KRW LTL LVL MXN MYR NOK NZD PEN PHP PLN RON RUB SAR SEK SGD SKK THB TRL TWD ZAR OTHER
SPOT3
with reporting dealers 5 12 0 12 0 1 38 254 7 1 1,816 2,166
— local 0 2 17 9
— cross-border 5 12 0 12 0 1 36 236 7 1 1,816 2,158
with other financial institutions 0 0 9 23 1 800
— local 7 13
— cross-border 0 0 3 23 1 787
with non-financial customers 5 6 0 0 0 84 66 5 0 7 2,513
— local 5 6 0 0 3 36 5 0 7 2,430
— cross-border 0 0 0 81 30 0 83
TOTAL 10 18 0 12 0 1 131 343 14 1 1,823 5,478
OUTRIGHT FORWARDS4
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
Maturities
seven days or less
over seven days and up to one year
over one year
FOREIGN EXCHANGE SWAPS5
with reporting dealers 195 1 823 259 56 2,454 11,394
— local 821 12 8
— cross-border 195 1 2 248 56 2,454 11,386
with other financial institutions 1,569 154 1 2,386
— local
— cross-border 1,569 154 1 2,386
with non-financial customers 749 51 18
— local 51 18
— cross-border 749
TOTAL 195 1 3,141 465 57 2,472 13,780
Maturities
seven days or less 97 0 3,140 433 28 2,456 13,708
over seven days and up to one year 98 0 32 28 16 72
over one year
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 Only transactions which are included in the columns “other” in tables A1, A2 and A3 and “residual” in table A3 . Direct offshore cross-trades between two currencies listed in this table should be reported in both of the relevant currency columns making up 200% of the deal. For further explanation on how to complete table A4 please refer to “currency breakdown across tables” in the instructions sheet.
3 Excluding “tomorrow/next day” transactions.
4 Including non-deliverable forwards and other contracts-for-differences.
5 A swap is considered to be a single transaction in that the two legs are not counted separately. Includes “tomorrow/next day” transactions.

Table A5

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments Domestic currency against
USD EUR JPY GBP CHF CAD AUD SEK Other2 TOT
CURRENCY SWAPS3
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
OTC OPTIONS4
Sold
with reporting dealers 23 3 25
— local
— cross-border 23 3 25
with other financial institutions
— local
— cross-border
with non-financial customers 1 1
— local 1 1
— cross-border
TOTAL 23 3 26
Bought
with reporting dealers
— local
— cross-border
with other financial institutions 23 23
— local 23 23
— cross-border
with non-financial customers
— local
— cross-border
TOTAL 23 23
TOTAL OTC OPTIONS 45 3 48
TOTAL FX CONTRACTS 889,589 37,826 55 156 70 11 0 30 985 928,724
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 See also table A8 for a more detailed breakdown of total turnover in “other” currencies.
3 A swap is considered to be a single transaction in that the two legs are not counted separately.
4 Including currency warrants and multicurrency swaptions.

Table A6

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments USD against
EUR JPY GBP CHF CAD AUD SEK Other2 TOT
CURRENCY SWAPS3
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
OTC OPTIONS4
Sold
with reporting dealers 20 242 262
— local
— cross-border 20 242 262
with other financial institutions 50 50
— local
— cross-border 50 50
with non-financial customers 20 20
— local 20 20
— cross-border
TOTAL 20 20 292 332
Bought
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
TOTAL OTC OPTIONS 20 20 292 332
TOTAL FX CONTRACTS 516,975 81,027 139,453 5,851 41,781 4,89 95 12,630 802,710
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 See also table A8 for a more detailed breakdown of total turnover in “other” currencies.
3 A swap is considered to be a single transaction in that the two legs are not counted separately.
4 Including currency warrants and multicurrency swaptions.

Table A7

Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments EUR against RESI-
DUAL3
GRAND
TOTAL4
JPY GBP CHF CAD AUD SEK Other2 TOT
CURRENCY SWAPS5
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
OTC OPTIONS6
Sold
with reporting dealers 121 408
— local
— cross-border 121 408
with other financial institutions 25 75
— local
— cross-border 25 75
with non-financial customers 21
— local 21
— cross-border
TOTAL 146 504
Bought
with reporting dealers
— local
— cross-border
with other financial institutions 23
— local 23
— cross-border
with non-financial customers
— local
— cross-border
TOTAL 23
TOTAL OTC OPTIONS 146 527
Other products7
TOTAL FX CONTRACTS 7,819 22,8 769 784 97 17 29 32,371 7,923 1,771,727
of which:
Related party trades8
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 See also table A8 for a more detailed breakdown of total turnover in “other” currencies.
3 “Residual” covers all currency pairs except those involving the domestic currency, the USD and the euro.
4 Covers the sum of the totals in tables A5, A6, A7 and the column “Residual”.
5 A swap is considered to be a single transaction in that the two legs are not counted separately.
6 Including currency warrants and multicurrency swaptions.
7 Any instrument where the transaction is highly leveraged and/or the notional amount is variable and where a decomposition into individual plain vanilla components is impractical or impossible.
8 Trades with own branches and subsidiaries and between affiliated firms except those with own offices in the same country, back-to-back deals and trades to facilitate internal bookkeeping and internal risk management within a given institution that must not be reported in the context of the triennial survey.

Table A8

Central Bank Survey of Foreign Exchange and Derivatives Market Activity
FOREIGN EXCHANGE CONTRACTS1
Turnover in nominal or notional principal amounts in November 2007
(in millions of USD)

Instruments Total turnover in listed currencies against all other currencies2
ARS AUD BGN BHD BRL CAD CHF CLP CNY COP CZK DKK EEK GBP HKD HUF IDR ILS INR JPY KRW LTL LVL MXN MYR NOK NZD PEN PHP PLN RON RUB SAR SEK SGD SKK THB TRL TWD ZAR OTHER
CURRENCY SWAPS3
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
OTC OPTIONS4
Sold
with reporting dealers 484
— local
— cross-border 484
with other financial institutions 100
— local
— cross-border 100
with non-financial customers
— local
— cross-border
TOTAL 584
Bought
with reporting dealers
— local
— cross-border
with other financial institutions
— local
— cross-border
with non-financial customers
— local
— cross-border
TOTAL
TOTAL OTC OPTIONS 584
TOTAL FX CONTRACTS 205 19 0 12 0 1 3,271 808 14 58 4,295 19,842
1 All transactions involving exposure to more than one currency, whether in interest rates or exchange rates.
2 Only transactions which are included in the columns “other” in tables A5, A6 and A7 and and “residual” in table A7. Direct offshore cross-trades between two currencies listed in this table should be reported in both of the relevant currency columns making up 200% of the deal. For further explanation on how to complete table A4 please refer to “currency breakdown across tables” in the instructions sheet.
3 A swap is considered to be a single transaction in that the two legs are not counted separately.
4 Including currency warrants and multicurrency swaptions.
Updated December 14, 2007.