International Investment Position of the Banking sector of Russia in 1998
International Investment Position of the Banking sector of Russia as of December 31, 1997 and December 31, 1998
(mln. USD)
 
 

Position as of  31.12.97

Changes in Position Reflecting:

Position as of   31.12.98

Transactions

Valuation changes

Other adjustments

Total changes

Assets

33,438 -5,582 -354 -1,949 -7,882 25,556
  Direct investment abroad
2,789 -33 36 -87 -84 2,703
Equity capital and reinvested earnings
1,515 -7 13 -30 -24 1,491
Other capital
1,274 -26 22 -57 -60 1,212
  Portfolio investment
1,383 257 -188 -145 -75 1,308
Equity securities
11 10 0 -4 6 18
Debt securities
1,371 247 -188 -141 -82 1,290
long-term
746 20 -16 -3 2 748
short-term
625 225 -172 -136 -83 542
  Other investment
11,483 -501 -414 -1,249 -2,162 9,322
Currency and deposits
7,371 -970 -305 -257 -1,532 5,840
Cash foreign currency
664 -58 -25 -19 -96 562
Demand and term deposits
6,707 -912 -280 -238 -1,436 5,278
long-term
674 -245 -3 4 -244 430
short-term
6,033 -667 -277 -241 -1,192 4,848
Loans
3,637 -40 -45 -663 -747 2,890
long-term
784 799 -2 -99 698 1,482
short-term
2,854 -839 -43 -564 -1,446 1,408
Arrears
43 148 -5 -143 1 43
Other assets
432 361 -59 -186 116 549
long-term
74 -15 0 -16 -31 43
short-term
358 376 -59 -170 147 507
  Reserve assets
17,784 -5,305 212 -468 -5,561 12,223
Monetary gold
4,889 0 0 -468 -468 4,422
Special drawing rights
122 -119 -3 0 -122 0
Reserve position in the Fund
1 0 0 0 0 1
Foreign exchange
12,771 -5,186 215 0 -4,971 7,800
Liabilities 19,666 -2,469 -921 -1,699 -5,089 14,577
  Direct investment in Russia
970 261 -849 -7 -595 373
Equity capital and reinvested earnings
970 261 -849 -7 -595 373
Other capital
0 0 0 0 0 0
  Portfolio investment
1,031 -228 -232 -79 -539 495
Equity securities
241 33 -218 -22 -206 36
Debt securities
791 -262 -14 -57 -333 459
long-term
217 -25 -19 -27 -71 146
short-term
574 -237 5 -30 -261 313
  Other investment
17,665 -2,502 158 -1,612 -3,956 13,709
Currency and deposits
7,536 -2,909 -634 -242 -3,785 3,751
Cash national currency
82 66 -112 0 -46 36
Deposits
7,454 -2,975 -522 -242 -3,739 3,715
long-term
265 681 -6 -28 646 912
short-term
7,189 -3,655 -516 -214 -4,386 2,803
Loans
9,515 387 239 -1,158 -532 8,984
IMF credit
0 3,793 194 0 3,987 3,987
Other long-term
1,605 537 8 -373 172 1,776
Short-term
7,911 -3,944 38 -784 -4,690 3,221
Arrears
0 698 -3 -1 695 695
Other liabilities
613 -677 555 -212 -334 279
long-term
5 1 -2 0 -1 4
short-term
608 -678 557 -212 -334 275
International Investment Position, net 13,773 -3,113 567 -250 -2,793 10,979

Memo items
. A positive sign denotes a net increase in assets or liabilities; a negative sign denotes a net decrease. This sign convention differs from that used in BOP statistics.
Notes:
1. The table covers data on the Bank of Russia and credit institutions including Vnesheconombank. Transactions in government foreign debt and government foreign assets performed by Vnesheconombank as an agent of the Government of Russian Federation are not included.
2. The item «Reserve assets» includes among other reserve assets foreign exchange reserves of the Minfin of Russia as a monetary authority.
3. Starting end June 2002 publication item "Currency and deposits" (short-term), Assets, includes item "adjustment to reserve assets", which was previously shown separately. This adjustment was introduced for the purpose of reconciliation of balance of payments and international investment position data that are prepared in accordance with the 5th Edition of IMF's Balance of Payments Manual, on the one hand, and international reserves data, which have national peculiarities, on the other. The methodology of preparation of official reserves has the following differences from the one contained in the Manual:
- up to the 3rd quarter, 1999 short-term foreign currency deposits in resident banks were included in the international reserves;
- started from the 3rd quarter, 1999 reserve assets are determined net of counterpart of foreign exchange funds placed on the resident banks' accounts with the Bank of Russia (excluding funds extended by the Bank of Russia for the servicing of official foreign debt).
4. Gold is valued at US$ 300 per troy ounce.
5. The item «Use of Fund credit» shows the indebtedness of the Bank of Russia to the IMF.
6. Column "Other adjustments" includes assets and liabilities of credit institutions, whose licenses to carry out banking activities were cancelled within the reporting period.

Updated July 7, 2005.


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