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International Investment Position in International Reserves of the Russian Federation

International Investment Position in International Reserves of the Russian Federation

International Investment Position in International Reserves of the Russian Federation for 2014

millions of US dollars

Position as of 30.11.14 Changes in Position reflecting: Position as of 31.12.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 418,880 -31,162 -4,439 -140 2,322 -33,420 385,460
Monetary gold 45,222 0 68 0 799 867 46,089
Special drawing rights 8,334 0 -88 0 0 -87 8,246
Reserve position in the Fund 3,915 -480 -37 0 0 -517 3,398
Other reserve assets 361,409 -30,682 -4,383 -140 1,523 -33,682 327,727
             
Memorandum Items              
foreign currency swaps beetween the Bank of Russia and resident banks -587 1,107 -1 0 0 1,106 519
сorresponding accounts of resident banks with the Bank of Russia 3,050 3,677 -4 0 0 3,673 6,723
funds received under repos with nonresidents 1,545 -1,524 -21 0 0 -1,545 0
Position as of 31.10.14 Changes in Position reflecting: Position as of 30.11.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 428,590 -6,423 -3,534 94 152 -9,710 418,880
Monetary gold 45,307 0 -788 0 703 -85 45,222
Special drawing rights 8,414 0 -80 0 0 -80 8,334
Reserve position in the Fund 3,953 0 -38 0 0 -38 3,915
Other reserve assets 370,916 -6,422 -2,628 94 -551 -9,507 361,409
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 5,032 -5,612 -7 0 0 -5,619 -587
сorresponding accounts of resident banks with the Bank of Russia 1,033 2,017 0 0 0 2,017 3,050
funds received under repos with nonresidents 999 553 -7 0 0 546 1,545
Position as of 30.09.14 Changes in Position reflecting: Position as of 31.10.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 454,240 -26,584 -2,441 117 3,258 -25,651 428,590
Monetary gold 45,016 0 -459 0 750 290 45,307
Special drawing rights 8,438 0 -24 0 0 -24 8,414
Reserve position in the Fund 3,994 -29 -11 0 0 -41 3,953
Other reserve assets 396,792 -26,555 -1,946 117 2,508 -25,876 370,916
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks -581 5,613 0 0 0 5,613 5,032
сorresponding accounts of resident banks with the Bank of Russia 1,410 -376 0 0 0 -376 1,033
funds received under repos with nonresidents 3,510 -2,499 -11 0 0 -2,510 999
Position as of 31.08.14 Changes in Position reflecting: Position as of 30.09.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 465,228 -2,466 -10,811 -12 2,300 -10,988 454,240
Monetary gold 45,990 0 -2,464 0 1,490 -974 45,016
Special drawing rights 8,642 0 -204 0 0 -203 8,438
Reserve position in the Fund 4,193 -101 -98 0 0 -200 3,994
Other reserve assets 406,404 -2,365 -8,044 -12 810 -9,611 396,792
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 0 -581 0 0 0 -581 -581
сorresponding accounts of resident banks with the Bank of Russia 2,164 -751 -3 0 0 -754 1,410
funds received under repos with nonresidents 4,338 -814 -14 0 0 -828 3,510
Position as of 31.07.14 Changes in Position reflecting: Position as of 31.08.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 468,762 1,562 -4,500 183 -778 -3,534 465,228
Monetary gold 46,109 0 -420 0 301 -119 45,990
Special drawing rights 8,716 -1 -74 0 0 -74 8,642
Reserve position in the Fund 4,291 -62 -36 0 0 -98 4,193
Other reserve assets 409,647 1,624 -3,971 183 -1,079 -3,243 406,404
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 0 0 0 0 0 0 0
сorresponding accounts of resident banks with the Bank of Russia 2,163 0 0 0 0 0 2,164
funds received under repos with nonresidents 3,270 1,085 -18 0 0 1,067 4,338
Position as of 30.06.14 Changes in Position reflecting: Position as of 31.07.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 478,250 -4,779 -4,158 -74 -478 -9,488 468,762
Monetary gold 46,292 0 -626 0 442 -184 46,109
Special drawing rights 8,798 1 -83 0 0 -82 8,716
Reserve position in the Fund 4,332 0 -41 0 0 -41 4,291
Other reserve assets 418,828 -4,780 -3,408 -74 -920 -9,181 409,647
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 4,918 -4,905 -13 0 0 -4,918 0
сorresponding accounts of resident banks with the Bank of Russia 3,212 -1,049 0 0 0 -1,049 2,163
funds received under repos with nonresidents 2,349 921 0 0 0 921 3,270
Position as of 31.05.14 Changes in Position reflecting: Position as of 30.06.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 467,227 7,750 3,439 -45 -120 11,023 478,250
Monetary gold 43,459 0 2,133 0 701 2,834 46,292
Special drawing rights 8,767 1 31 0 0 31 8,798
Reserve position in the Fund 4,136 180 15 0 0 196 4,332
Other reserve assets 410,866 7,569 1,260 -45 -821 7,963 418,828
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 0 4,919 -1 0 0 4,918 4,918
сorresponding accounts of resident banks with the Bank of Russia 3,179 33 0 0 0 33 3,212
funds received under repos with nonresidents 1,530 821 -2 0 0 819 2,349
Position as of 30.04.14 Changes in Position reflecting: Position as of 31.05.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 472,278 -2,380 -4,812 226 1,916 -5,051 467,227
Monetary gold 44,303 0 -1,239 0 394 -845 43,459
Special drawing rights 8,820 -1 -52 0 0 -53 8,767
Reserve position in the Fund 4,397 -235 -26 0 0 -261 4,136
Other reserve assets 414,758 -2,144 -3,495 226 1,522 -3,892 410,866
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 7,194 -7,185 -9 0 0 -7,194 0
сorresponding accounts of resident banks with the Bank of Russia 3 3,176 0 0 0 3,176 3,179
funds received under repos with nonresidents 3,049 -1,517 -2 0 0 -1,519 1,530
Position as of 31.03.14 Changes in Position reflecting: Position as of 30.04.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 486,131 -15,714 1,926 70 -135 -13,853 472,278
Monetary gold 43,355 0 -216 0 1,164 948 44,303
Special drawing rights 8,796 1 23 0 0 24 8,820
Reserve position in the Fund 4,291 95 11 0 0 106 4,397
Other reserve assets 429,689 -15,810 2,107 70 -1,299 -14,931 414,758
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 13,673 -6,490 11 0 0 -6,479 7,194
сorresponding accounts of resident banks with the Bank of Russia 7,959 -7,975 19 0 0 -7,956 3
funds received under repos with nonresidents 1,742 1,302 6 0 0 1,307 3,049
Position as of 28.02.14 Changes in Position reflecting: Position as of 31.03.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 493,326 -12,730 -453 -131 6,119 -7,195 486,131
Monetary gold 44,588 0 -1,178 0 -54 -1,232 43,355
Special drawing rights 8,805 1 -10 0 0 -9 8,796
Reserve position in the Fund 4,368 -72 -5 0 0 -77 4,291
Other reserve assets 435,565 -12,659 741 -131 6,173 -5,876 429,689
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 1,720 11,970 -17 0 0 11,953 13,673
сorresponding accounts of resident banks with the Bank of Russia 26 7,959 -26 0 0 7,933 7,959
funds received under repos with nonresidents 7,913 -6,176 5 0 0 -6,171 1,742
Position as of 31.01.14 Changes in Position reflecting: Position as of 28.02.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 498,926 -6,567 3,996 -49 -2,979 -5,600 493,326
Monetary gold 41,715 0 2,580 0 293 2,872 44,588
Special drawing rights 8,730 0 75 0 0 75 8,805
Reserve position in the Fund 4,332 -1 37 0 0 36 4,368
Other reserve assets 444,149 -6,566 1,303 -49 -3,272 -8,583 435,565
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 5,751 -4,029 -2 0 0 -4,031 1,720
сorresponding accounts of resident banks with the Bank of Russia 2 24 0 0 0 24 26
funds received under repos with nonresidents 4,677 3,238 -2 0 0 3,236 7,913
Position as of 31.12.13 Changes in Position reflecting: Position as of 31.01.14
Transactions Exchange rate changes Other price changes Other changes in volume Total changes
International Reserves 509,595 -8,054 13 300 -2,929 -10,669 498,926
Monetary gold 39,990 0 1,747 0 -22 1,725 41,715
Special drawing rights 8,762 1 -33 0 0 -32 8,730
Reserve position in the Fund 4,396 -48 -16 0 0 -64 4,332
Other reserve assets 456,447 -8,007 -1,684 300 -2,907 -12,298 444,149
Memorandum Items
foreign currency swaps beetween the Bank of Russia and resident banks 8,538 -2,786 -1 0 0 -2,787 5,751
сorresponding accounts of resident banks with the Bank of Russia 1 1 0 0 0 1 2
funds received under repos with nonresidents 1,827 2,917 -68 0 0 2,850 4,677

Notes. “+” - net increase in assets; “-” - net decrease.

Methodological Notes

The international reserves of the Russian Federation are highly liquid external assets that are readily available to the Bank of Russia and the Government of the Russian Federation.

The international reserves consist of monetary gold, SDR holdings, reserve position in the IMF and other reserve assets.

Monetary gold is defined as standard gold bars and coins with a purity of at least 995/1,000 held by the Bank of Russia and the Government of the Russian Federation. It comprises gold in vault, en route and in allocated accounts, including those that are held abroad.

Special drawing rights (SDRs) are international reserve assets created by the IMF and allocated to members; included are balances of SDR holdings on the account of the Russian Federation in the Fund’s SDR Department.

Reserve position in the IMF is the sum of the reserve tranche position (representing foreign exchange component of the quota of the Russian Federation in the Fund) and the country’s claims on the IMF arising from lending under the New Arrangements to Borrow.

Other reserve assets includes foreign currency; balances on nostro corresponding accounts including unallocated gold accounts; deposits with the initial maturity of up to 1 year including gold deposits with foreign central banks, the Bank for International Settlements (BIS) and nonresident deposit-taking corporations; debt securities issued by nonresidents; loans extended under reverse repo agreements, and other financial claims on nonresidents with the initial maturity of up to 1 year.

Funds received under repos with nonresidents are shown as an increase in Other reserve assets.

Securities received as collateral under reverse repos or under securities’ lending agreements (received in exchange for other securities) are not included in international reserves. Securities provided to counterparties under securities’ lending transactions are recorded in international reserves, whereas securities that serve as collateral under repurchase agreements are excluded therefrom.

Part of resources on accounts of the Reserve Fund and of the National Wealth Fund of the Russian Federation which is denominated in foreign currency, deposited with the Bank of Russia and further invested by the Bank of Russia in foreign financial assets is included in the international reserves of the Russian Federation.

Foreign exchange-denominated claims of the Bank of Russia and of the Government of the Russian Federation on residents are not included in the international reserves of the Russian Federation.

Transactions are recorded as of the value date with interest accrued.

Updated on 16 January 2015.
International Investment Position in International Reserves of the Russian Federation