Ministry of Finance of the Russian Federation
Ministry of Finance of the Russian Federation
05.04.2018

Allocation of National Wealth Fund’s assets to deposits in Vnesheconombank as of 1 March 2018

 

Allocation of National Wealth Fund’s assets to deposits in Vnesheconombank as of 1 April 2018

Eligible investments of National Wealth Fund’s assets allocated to deposits / purpose of allocation

Maximum overall amount of allocation

Actual amount

of allocation

Maximum period of deposit

Annual interest rate

Interest payment frequency

Subordinated loans to Russian banks

410.00 bln. rubles1

50.45 bln. rubles

 

 

Quarterly

including

21.27 bln. rubles

31 December 2022

6.25

29.18 bln. rubles

31 December 2023

7.25

Not regulated

175.00 bln. rubles2

50.00 bln. rubles3

8 June 2020

6.25

Semiannually

15.98 bln. rubles

24 December 2020

7.19

Quarterly

Loans to small and middle enterprises

30.00 bln. rubles2

30.00 bln. rubles

31 December 2027

6.25

Quarterly

Loans to Joint-stock company “DOM.RF Russia Housing and Urban Development Corporation”

40.00 bln. rubles4

40.00 bln. rubles

1 June 2020

6.25

Quarterly

Vnesheconombank’s capital increase

5.966 bln. US dollars (7% of overall volume of National Wealth Fund as of 6 September 2014)5

(2.462 bln. US dollars)

138.83 bln. rubles6

26 September 2034

LIBOR7 + 2.758, 0.259, 2.8610

Annually11

(3.504 bln. US dollars)

197.58 bln. rubles6

26 September 2034

LIBOR7 + 3.008, 0.259, 2.8610

Annually11

Not regulated

Х

(0.288 bln. US dollars)

16.24 bln. rubles6

26 September 2034

LIBOR7 + 3.808, 0.259, 2.8610

Annually11

Financing of Vnesheconombank’s

projects, implemented by organizations of real economy

300.00 bln. rubles2

24.60 bln. rubles12

30 December 2030

6.00

Annually

2.30 bln. rubles13

29 December 2019

448.08 mln. rubles14

20 December 2028

8.08 bln. rubles15

30 December 2035

CPI + 1, but not less than 1

Monthly

Total

955.00 bln. rubles

574.50 bln. rubles

Х

Х

Х



1 Federal law No.173-FZ dated 13 October 2008 “Additional measures to support financial system of the Russian Federation”, article 4. Maximum periods of deposits may be extended by decision of the Government of the Russian Federation from 31 December 2019 till 31 December 2022 and from 31 December 2020 till 31 December 2023.

2 Requirements to the financial assets, National Wealth Fund’s assets could be invested in, approved by the Regulation of the Government of Russian Federation No.18 dated 19 January 2008, clause 12, subclause ”b”.

3 Placement on deposit to finance Vnesheconombank‘s investment in “Gazprombank” (Joint-stock Company) equity stake.

4 Federal law No.173-FZ dated 13 October 2008 “Additional measures to support financial system of the Russian Federation”, article 6.2. In case of early repayment may be allocated to deposit in the same amount maturing before 1 June 2048.

5 Budget Code of the Russian Federation, article 96.10, clause 4; Requirements to the financial assets, National Wealth Fund’s assets could be invested in, approved by the Regulation of the Government of Russian Federation No.18 dated 19 January 2008, clause 12, subclause ”c1”; Decree of the Government of Russian Federation No.1749-p dated 6 September 2014, clause 1.

6 From 17 January 2018 due to the change of the currency of the deposit from US dollars to rubles.

7 Six month US dollar LIBOR rate.

8 From 26 September 2014 till 30 December 2015.

9 From 30 December 2015 till 17 January 2018.

10 From 18 January 2018 till day of deposit repayment.

11 Over the period from 26 September 2015 till 30 December 2015 and over the grace period from 30 December 2015 till 26 September 2018 interest is accrued, not capitalized and paid in the last day of the grace period - 26 September 2018.

12 For the purpose of financing the project “Acquisition and leasing of subway cars to the Moscow Metro” (LCC-1).

13 For the purpose of financing the project “Modernization of subway cars in Budapest (Hungary)”.

14 For the purpose of financing the project “Construction of new airport complex “Centralny” (city of Saratov)”.
15 For the purpose of financing the project “Acquisition and leasing of subway cars to the Moscow Metro” (LCC-2).