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

13 january 2015 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 December 31, 2014.

The Reserve Fund

As of January 1, 2015 the aggregate amount of the Reserve Fund was 4 945.49 billion rubles which is equivalent to 87.91 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

  • 40.82 billion US dollars
  • 31.39 billion euros;
  • 5.76 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 December 31, 2014 was 0.53 billion US dollars, which is equivalent to 30.00 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to December 31, 2014 was 1 868.70 billion rubles.

The National Wealth Fund

In December of 2014, under Resolutions of the Russian Government dated January 19, 2008 № 18, and dated November 5, 201 № 990,NWF funds were placed in bonds related to implementing infrastructure projects carried out by Russian Direct Investment Fund Management Company (LLC).

  • in the amount of 1.08 billion rubles- in the bonds of LLC Infrastructure Investments-3 in quantity of 1 080 000 pieces, with a par value of one bond being 1000 rubles, in order to finance an infrastructure project “Construction of Intellectual Networks” provided for by clause 4 of the List of free-standing infrastructure projects implemented by legal entities in financial assets of which NWF funds and (or) pension savings managed by the state managing company are placed on a reimbursable basis. The List was approvedunder Government Executive Order dated November 5, 2013, № 2044-r.
  • in the amount of 4.05 billion rubles – in the bonds of LLC Infrastructure Investments -4 in quantity of 4 059 000 pieces, with a par value of one bond being 1000 rubles, in order to finance an infrastructure project “Elimination of Digital Inequality in Sparsely Populated Areas” provided for by the said List.

In December of 2014, Vnesheconombank early returned financial resources of the Fund placed on deposits in the amount of 39.95 billion rubles in accordance with Federal Law dated October 13, 2008, № 173-FZ “On Additional Measures for Supporting the Financial System of the Russian Federation”. In accordance with Resolutions of the Russian Government dated January 19, 2008, № 18 “On the Procedure for Managing Financial Resources of the National Wealth Fund”, and dated August 22 2014, № 839 “On Using Financial Resources of the National Wealth Fund to Purchase Preferred Shares of Credit Institutions” the Funds of the Fund in the said amount were used by the Russian Finance Ministry to purchase by private subscription OJSC Bank GPB’s preferred shares in number of 39 954 000 at a par value 1000 rubles for one share which accounts for 61.96% of OJSC Bank GPB’s charter capital.

In December of 2014 under para 5 of clause 96.10 of the Budget Code of the Russian Federation as well as in accordance with Resolution of the Russian Government dated January 19, 2008, № 18 and Government Executive Order dated December 27, № 2739-r, NWF funds in the amount of 100 billion rubles were placed on a subordinated deposit with OJSC Bank VTB for a tenure of 30 yearswith charging interest at a rate equal to inflation in the Russian Federation increased by 1% per annum but no less than 1% per annum, with interest payments to be made every six months

As of January 1, 2015, the aggregate amount of the National Wealth Fund (NWF) was 4 388.09billion rubles which is equivalent to 78.00 billion US dollars including:

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

  • 23.58 billion US dollars;
  • 23.29 billion euros;
  • 4.23 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 free-standing infrastructure projects a list of which is approved by the Russian Government – 5.13 billion US dollars;

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

6) in subordinated deposit with Bank VTB in order to fund infrastructure projects a List of which is approved by the Russian Government – 100 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 December 31, 2014, was 0.4 billion US dollars, which is equivalent to 22.38 billion rubles. The exchange rate difference from recalculating monetary resources of the Fundfrom January 1 to December 31, 2014 was 1 499.87 billion rubles including:

  • balances in foreign exchange accounts with the Bank of Russia – 1 282.13 billion rubles;
  • funds deposited with Vnesheconombank in US dollars – 147.15 billion rubles;
  • funds placed in debt instruments of foreign states under a separate decision of the Russian Government without placing demands on long-term credit ratings – 70.59 billion rubles.

In December of 2014, incomes from investing NWF fundswere transferred to the federal budget:

  • on Vnesheconombank’s deposits in the amount of 2.28 billion rubleswhich is equivalent to 0.04 billion US dollars. The aggregate income from placing financial resources of the Fund on Vnesheconombank’s deposits from January to December of 2014 was 46.67 billion rubles which is equivalent to 1.27 billion US dollars.
  • in debt instruments of foreign states under a separate decision of the Russian Government without placing demands on long-term credit ratings – 75.00 million US dollars, which is equivalent to 4.55 billion rubles. The aggregate income from placing NWF funds in the said debt instruments from January to December of 2014 was 148.33 million US dollars which is equivalent to 7.07 billion rubles

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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Vnesheconombank to fund the supply of Russian equipment to the Republic of Belarus

22 december 2014 года
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Vnesheconombank and Open Joint Stock Company Savings Bank Belarus (OJSC JSSB Belarusbank) signed an agreement on providing up to500 million rubles to fund National Union “Belarus Railway”.

Under the agreement, Vnesheconombank’s credit facilities are to be used to pay for equipment to be supplied to National Union “Belarus Railway” by Russian companies to modernize diesel-powered locomotives.

The said transaction is being conducted by Vnesheconombank as part of providing support for Russian high-technology products exports.

OJSC JSSB Belarusbankwas founded in 1922 and is the largest financing institution by the amount of assets.


Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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