Summary Methodology Monetary base (broad definition), Monetary base (narrow definition)

Monetary base (broad definition)

The monetary base (broad definition) comprises cash put into circulation by the Bank of Russia, including cash balances in bank vaults excluding cash rubles in Bank of Russia vaults, ATMs and in transit, as well as precious metal coins in circulation, balances in the required reserve accounts deposited by in the RF resident credit institutions with the Bank of Russia, funds in the RF resident credit institutions’ correspondent accounts denominated in rubles (including averaged amount of the required reserves) and deposit accounts with the Bank of Russia at market value, the RF resident credit institutions’ investments in the Bank of Russia bonds.

The source of information used in calculating the monetary base (broad definition) is data from the Bank of Russia monthly consolidated balance sheet.

All elements of the monetary base (broad definition) are calculated in the Russian currency only.

Monetary base (narrow definition)

The monetary base (narrow definition) comprises cash put into circulation by the Bank of Russia, including cash balances in bank vaults excluding cash rubles in Bank of Russia vaults, ATMs and in transit, as well as precious metal coins in circulation, balances in the required reserve accounts deposited by in the RF resident credit institutions with the Bank of Russia in currency of the Russian Federation.