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

Russia’s Finance Ministry hereby informs about the results of investing funds of the Reserve Fund and the National Wealth Fund from January 1 to September 30, 2015.

The Reserve Fund

In accordance with Resolution of the Russian Government dated August 14, 2003 № 699 “On Making Payments and Transferring Funds in connection with Forming and Using Additional Oil and Gas Revenues of the Federal Budget, Financial Resources of the Reserve Fund and the National Wealth Fund as well as on Declaring Individual Acts of the Russian Government Null and Void”, additional oil and gas revenues of the federal budget received in 2014 to be used for forming the Reserve Fund in 2015 in the amount 402.20 billion rubles were transferred in September of 2015 to the account to record funds of the Reserve Fund and then transferred from the said account to the unified account of the federal budget to cover deficit of the federal budget.

As of October 1, 2015, the aggregate amount of the Reserve Fund was 4 670.50 billion rubles which is equivalent to 70.51 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

• 31.50 billion US dollars;
• 28.27 billion euros;
• 4.73 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 September 30, 2015 was 0.17 billion US dollars, which is equivalent to 11.35 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to September 30, 2015 was 625.01 billion rubles.

The National Wealth Fund

As of October1, 2015, the aggregate amount of the National Wealth Fund was 4 878.80 billion rubles which is equivalent to 73.66 billion US dollars including:

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

• 20.98 billion US dollars;
• 21.99 billion euros;
• 4.03 billion pounds sterlings.

2) 195.03 billion rubles and 6.25 billion US dollars were deposited with Vnesheconombank.

3) under an individual decision by the Russian Government 3.00 billion US dollars were placed in debt instruments of foreign states without placing demands on long-term credit ratings.

4) in bonds of Russian issuers related to implementing infrastructure projects, a list of which is approved by the Russian Government – 112.63billion rubles and 1.21 billion US dollars;

5) in preferred shares of credit institutions – 278.99 billion rubles;

6) on deposits of OJSC Bank VTB and Bank GPB (JSC) in order to fund infrastructure projects a list of which is approved by the Russian Government - 164.43 billion rubles.

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 September 30, 2015, was 0.12 billion US dollars, which is equivalent to 8.08 billion rubles. The exchange rate difference from recalculating monetary resources of the Fund from January 1 to September 30, 2015 was 500.14 billion rubles including:

• balances in foreign exchange accounts with the Bank of Russia – 402.85 billion rubles;
• funds deposited with Vnesheconombank in US dollars – 62.40 billion rubles;
• funds placed in debt instruments of foreign states without placing demands on long-term credit ratings –29.93 billion rubles;
• foreign-currency denominated bonds of Russian issuers related to implementing infrastructure projects, a list of which is approved by the Russian Government – 4.96 billion rubles.

In September of 2015, incomes from investing financial resources of the National Wealth Fund were transferred to the federal budget:

a) in bonds of Russian issuers related to implementing infrastructure projects, a list of which is approved by the Russian Government in the amount of 1.54 billion rubles which is equivalent to 0.02 billion rubles;

b) 0.21 billion US dollars which is equivalent to 13.57 billion rubles were deposited with Vnesheconombank.

The aggregate income from placing financial resources of the Fund on authorized financial assets with the exception of accounts with the Bank of Russia from January to September of 2015 amounted to 35.96 billion rubles which is equivalent to 0.59 billion US dollars

Indicators of the aggregate amount of the Reserve Fund and the National Wealth Fund as well as of calculated incomes (losses) 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