International Investment Position of the Banking sector of Russia in 1997
International Investment  Position of  the Banking sector of Russia as of December 31, 1996  and December 31, 1997
(mln. USD)
 
  Position as of  31.12.96 Changes in Position Reflecting: Position as of   31.12.97
Transactions Valuation changes Other adjustments Total changes

Assets

29,040 3,193 -610 1,815 4,398 33,438
  Direct investment abroad
2,685 34 -118 187 104 2,789
Equity capital and reinvested earnings
1,530 11 -76 50 -15 1,515
Other capital
1,155 23 -42 137 118 1,274
  Portfolio investment
1,230 140 4 9 153 1,383
Equity securities
43 -33 1 0 -32 11
Debt securities
1,187 173 2 9 185 1,371
long-term
1,187 173 2 -616 -440 746
short-term
0 0 0 625 625 625
  Other investment
9,801 1,083 -178 777 1,681 11,483
Currency and deposits
6,991 -268 -122 770 380 7,371
Cash foreign currency
620 60 -12 -4 44 664
Demand and term deposits
6,371 -327 -110 774 336 6,707
long-term
142 -19 4 547 532 674
short-term
6,229 -308 -114 227 -196 6,033
Loans
1,218 2,164 -12 267 2,419 3,637
long-term
300 508 -2 -22 484 784
short-term
918 1,698 -9 247 1,936 2,854
Arrears
45 -22 -3 24 -2 43
Other assets
1,548 -791 -41 -284 -1,116 432
long-term
287 -187 -44 18 -213 74
short-term
1,261 -604 3 -302 -903 358
  Reserve assets
15,324 1,936 -318 842 2,460 17,784
Monetary gold
4,047 0 0 842 842 4,889
Special drawing rights
5 124 -7 0 117 122
Reserve position in the Fund
1 0 0 0 0 1
Foreign exchange
11,271 1,812 -312 0 1,500 12,771
Liabilities 9,655 8,902 -263 1,372 9,941 19,666
  Direct investment in Russia
426 87 -12 469 544 970
Equity capital and reinvested earnings
426 87 -12 469 544 970
Other capital
0 0 0 0 0 0
  Portfolio investment
567 202 -27 289 464 1,031
Equity securities
122 92 27 0 119 241
Debt securities
445 110 -53 289 346 791
long-term
445 110 -53 -285 -228 217
short-term
0 0 0 574 574 574
  Other investment
8,663 8,612 -224 614 9,002 17,665
Currency and deposits
4,101 4,241 -103 -703 3,435 7,536
Cash national currency
127 -38 -7 0 -45 82
Deposits
3,974 4,279 -96 -703 3,480 7,454
long-term
66 147 -3 55 199 265
short-term
3,908 4,132 -93 -758 3,280 7,189
Loans
2,744 3,840 -69 3,000 6,771 9,515
IMF credit
0 0 0 0 0 0
Other long-term
386 821 -26 424 1,219 1,605
Short-term
2,358 3,019 -43 2,576 5,552 7,911
Arrears
0 3 -3 0 0 0
Other liabilities
1,817 528 -50 -1,682 -1,204 613
long-term
0 23 1 -19 5 5
short-term
1,817 505 -51 -1,663 -1,209 608
International Investment Position, net 19,385 -5,686 -347 420 -5,613 13,773

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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