Central Bank lowers investments in foreign state securities in 2016, increases funds on deposits, non-govt securities
MOSCOW. July 3 (Interfax) - The Russian Central Bank lowered investments in foreign state securities by $36.6 billion to $202.7 billion in 2016 and increased funds on deposits in foreign contracting parties and on corresponding nostro accounts by $29.9 billion to $65.3 billion, the Central Bank said in a statement on its website.
Investments in non-government securities by issuers supported by the government (with an implied guarantee) increased by $11.8 billion to $32.1 billion.
The Central Bank also saw the value of its gold assets increase $11.8 billion to $59 billion in 2016, thanks to gold purchases and rising gold prices.
The legal requirements of Russian credit organizations on repo deals declined by $9.9 billion to $16.5 billion in 2016, with investments in securities from international organizations down by $1.9 billion to $10.8 billion.
While investments in gold last year had a positive impact on the size of assets, which grew by $8 billion through purchases and $3.7 billion through price changes, exchange rate fluctuations had a negative effect, declining by $8.6 billion and by $3.3 billion from outflow of client funds.
The Central Bank's assets in forex and gold for the year increased by $2 billion to $389.6 billion. This does not match the amount laid out in the Central Bank's annual report on managing reserve assets in forex and gold, which put growth for the year at $12.1 billion to $373 billion or information on an increase in Russian gold and forex reserves of $9.3 billion to $377.7 billion, since the data included in the calculations and the methodology differs.