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

2 march 2016 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 from January 1 to February 29, 2016.

The Reserve Fund

As of March 1, 2016, the aggregate amount of the Reserve Fund was 3 747.06 billion rubles which is equivalent to 49.90 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

  • 22.71 billion US dollars;
  • 20.26 billion euros;
  • 3.44 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 29, 2016 was 0.12 billion US dollars, which is equivalent to 9.14 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to February 29, 2016, was `106.49 billion rubles.

The National Wealth Fund

On February 17, 2016, the Russian Finance Ministry filed a lawsuit against Ukraine in the High Court of London to secure repayment of Ukrainian obligations with a par value of $3.00 billion and Russia's court costs.

As of March 1, 2016, the aggregate amount of the National Wealth Fund was 5 356.96 billion rubles which is equivalent to 71.34 billion US dollars including:

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

  • 19.67 billion US dollars;
  • 20.76 billion euros;
  • 3.83 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 – 112.63 billion rubles and 4.11 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 February 29, 2016, was 0.12 billion US dollars, which is equivalent to 8.98 billion rubles. The exchange rate difference from recalculating monetary resources of the Fund from January 1 to February 29, 2016 was 129.78 billion rubles including:

  • balances in foreign exchange accounts with the Bank of Russia – 100.27 billion rubles;
  • funds deposited with Vnesheconombank in US dollars – 13.81 billion rubles;
  • funds placed in debt instruments of foreign states without placing demands on long-term credit ratings –6.62 billion rubles.
  • foreign-currency denominated bonds of Russian issuers related to implementing infrastructure projects, a list of which is approved by the Russian Government – 9.08 billion rubles.

The aggregate income from placing financial resources of the Fund in the authorized financial assets minus funds in the accounts of the Bank of Russia from January to February 2016 was 2.40 billion rubles which is equivalent to 0.03 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
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