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Information Message on the Results of Investing Funds of the Reserve Fund and the National Wealth Fund

1 march 2013 года
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Russia’s Finance Ministry hereby informs about the results of investing funds of the Reserve Fund and the National Wealth Fund as of March 1, 2013.

In pursuance of Regulation of the Russian Government dated December 29, 2007 № 955 “On the Procedure of Managing Financial Resources of the Reserve Fund”, oil and gas revenues of the federal budget for 2012 in the amount of 713.48 billion rubles transferred to the account to record financial resources in rubles of the Reserve Funds were converted in foreign currency in full in January of 2013.

The Reserve Fund

The aggregate amount of the Reserve Fund was 2 592.89billion rubles, which is equivalent to 84.68 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

  • 38.08 billion US dollars
  • 29.40 billion euros;
  • 5.40 billion pounds sterlings.

The aggregate calculated income from placing funds of the Reserve Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to February 28, 2013 was 0.09 billion US dollars, which is equivalent to 2.83 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to February 28, 2013 was a negative value of (-)6.26 billion rubles.

The National Wealth Fund

The aggregate amount of the National Wealth Fund was 2 682.58 billion rubles which is equivalent to 87.51 billion US dollars including:

1)     In separate accounts to record funds of the National Wealth Fund with the Bank of Russia:

  • 27.66 billion US dollars;
  • 24.15 billion euros;
  • 4.39 billion pounds sterlings;

2)     474.02 billion rubles and 6.25 billion US dollars were deposited with Vnesheconombank.

The aggregate income from placing the Fund’s financial resources on Vnesheconombank’s deposits from January to February 2013 amounted to 6.87 billion rubles which is equivalent to 0.23 billion US dollars.

The aggregate calculated income from placing funds of the National Wealth Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to  February 28, 2013, was 0.07 billion US dollars, which is equivalent to 2.15 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts from January 1 to February 28 31, 2013 was a negative value of (-) 9.60 billion rubles. The exchange rate difference from recalculating funds placed on Vnesheconombank’s deposits in US dollars was
a positive value of 1.55 billion US rubles.

Indicators of the aggregate amount of the Reserve Fund and the National Wealth Fund as well as of calculated incomes from placing funds of the Reserve Fund and the National Wealth Fund were calculated on the basis of official exchange rates of foreign currencies set by the Bank of Russia as of the date prior to the reporting date and of cross rates calculated on the basis of the said exchange rates.

Detailed statistics on transactions with funds of the Reserve Fund and the National Wealth Fund is posted on the Internet site of the Russian Finance Ministry in the following sections: “The Reserve Fund” and “The National Wealth Fund” in appropriate subsections in Russian and English, the statistics is updated on a regular basis.

 

Origin: Press Service of Russia’s Finance Ministry
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