OREANDA-NEWS. June 02, 2011. Russia’s Finance Ministry hereby informs about the results of investing funds of the Reserve Fund and the National Wealth Fund as of June 1, 2011.

The Reserve Fund

The aggregate amount of the Reserve Fund was 745.86 billion rubles, which is equivalent to 26.57 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:
11.08 billion US dollars
9.04 billion euros;
1.58 billion pounds sterlings.

The aggregate calculated income from placing funds of the Reserve Fund recalculated in dollars in the Bank of Russia’s foreign currency accounts for a period from January 15, 2011, to May 31, 2011, was 0.12 billion US dollars, which is equivalent to 3.48 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts from January 1 to May 31 was a negative value of (-) 29.04 billion rubles.

The National Wealth Fund

The aggregate amount of the National Wealth Fund was 2 597.55 billion rubles which is equivalent to 92.54 billion US dollars including:

1)     In separate accounts to record funds of the National Wealth Fund with the Bank of Russia:
28.25 billion US dollars;
24.60 billion euros;
4.47 billion pounds sterlings;

2)     437.02 billion rubles were deposited with Vnesheconombank including:
285.61 billion rubles to be deposited for a period up to December 31, 2019, with an interest rate of 6.25% per annum;
118.41 billion rubles to be deposited for a period up to December 25, 2020, with an interest rate of 7.25% per annum
30.00 billion rubles to be deposited for a period up to December 25, 2017, with an interest rate of 6.25% per annum ;
3.00 billion rubles to be deposited for a period up to May 29, 2020, with an interest rate of 6.25% per annum;

3)     6.25 billion US dollars were deposited with Vnesheconombank including:
2.75 billion US dollars to be deposited for a period up to October31, 2011, with a floating interest rate exceeding LIBOR six-month rate by 2.75 percentage points for  a period of six months
3.504 billion US dollars to be deposited for a period up to December 13, 2012, with a floating interest rate exceeding LIBOR six-month rate by 2.75 percentage points for a period of six months.

In May of 2011, incomes from placing the National Wealth Fund’s monetary resources on Vnesheconombank’s deposits in the amount of 0.33 billion rubles which is equivalent to 0.01 billion US dollars were transferred to the federal budget. The aggregate income from placing the Fund’s monetary resources on Vnesheconombank’s deposits from January to May 2011 was 14.49 billion rubles which is equivalent to 0.49 billion dollars.

The aggregate calculated income from placing funds of the National Wealth Fund recalculated in dollars in the Bank of Russia’s foreign currency accounts for a period from January 15 to May 31, 2011, was 0.33 billion US dollars, which is equivalent to 9.15 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts from January 1 to May 31, 2011was a negative value of (-) 79.50 billion rubles and the exchange rate difference from recalculating funds placed on Vnesheconombank’s deposits in US dollars was a value of (-)15.06 billion 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.