International Investment Position of the Banking sector of Russia in 1996
International Investment  Position of  the Banking sector of Russia as of December 31, 1995 and December 31, 1996
(mln. USD)
 
  Position as of  31.12.95 Changes in Position Reflecting: Position as of   31.12.96
Transactions Valuation changes Other adjustments Total changes

Assets

28,645 58 -886 1,223 395 29,040
  Direct investment abroad
2,420 166 99 0 265 2,685
Equity capital and reinvested earnings
1,215 166 148 0 315 1,530
Other capital
1,205 0 -49 0 -49 1,155
  Portfolio investment
764 761 -295 0 465 1,230
Equity securities
27 117 -101 0 16 43
Debt securities
737 644 -194 0 449 1,187
long-term
737 644 -194 0 449 1,187
short-term
0 0 0 0 0 0
  Other investment
8,254 1,972 -424 0 1,547 9,801
Currency and deposits
4,863 2,231 -104 0 2,127 6,991
Cash foreign currency
766 -126 -20 0 -146 620
Demand and term deposits
4,097 2,357 -84 0 2,274 6,371
long-term
183 -39 -2 0 -41 142
short-term
3,914 2,396 -81 0 2,315 6,229
Loans
1,727 -443 -65 0 -509 1,218
long-term
544 -230 -13 0 -244 300
short-term
1,183 -213 -52 0 -265 918
Arrears
29 28 -12 0 16 45
Other assets
1,635 156 -243 0 -87 1,548
long-term
374 -64 -23 0 -87 287
short-term
1,261 221 -220 0 1 1,261
  Reserve assets
17,207 -2,841 -265 1,223 -1,883 15,324
Monetary gold
2,824 0 0 1,223 1,223 4,047
Special drawing rights
117 -110 -2 0 -112 5
Reserve position in the Fund
1 0 0 0 0 1
Foreign exchange
14,265 -2,731 -263 0 -2,994 11,271
Liabilities 5,875 4,199 -435 16 3,780 9,655
  Direct investment in Russia
345 45 36 0 81 426
Equity capital and reinvested earnings
345 45 36 0 81 426
Other capital
0 0 0 0 0 0
  Portfolio investment
437 126 4 0 130 567
Equity securities
132 50 -60 0 -10 122
Debt securities
305 76 64 0 140 445
long-term
305 76 64 0 140 445
short-term
0 0 0 0 0 0
  Other investment
5,093 4,028 -475 16 3,569 8,663
Currency and deposits
2,847 1,426 -172 0 1,254 4,101
Cash national currency
403 -230 -46 0 -276 127
Deposits
2,444 1,656 -126 0 1,530 3,974
long-term
36 31 -1 0 30 66
short-term
2,408 1,625 -125 0 1,500 3,908
Loans
1,130 1,705 -91 0 1,614 2,744
IMF credit
0 0 0 0 0 0
Other long-term
300 69 17 0 86 386
Short-term
830 1,636 -108 0 1,528 2,358
Arrears
0 0 0 0 0 0
Other liabilities
1,116 897 -212 16 702 1,817
long-term
4 -3 -1 0 -4 0
short-term
1,112 900 -211 16 706 1,817
International Investment Position, net 22,770 -4,141 -451 1,207 -3,385 19,385

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 changes" includes changes in reporting arrangements between the 4th quarter of 1997 and the 1st quarter of 1998, which take effect on stocks of foreign assets and liabilities of commercial banks on January 1, 1998. Those amendments accounted for less than 5%.

Updated July 7, 2005.


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