16. Due to Other Banks

In mln of Russian Roubles 2011 2010
Term placements of other banks 240,445 34,149
Sale and repurchase agreements with other banks 232,870 61,803
Correspondent accounts and overnight placements of other banks 59,070 38,716
Total due to other banks 532,385 134,668

Term placements of other banks represent funds received on the interbank market.
At 31 December 2011, included in amounts due to other banks are liabilities of RR 222 017 mln (2010: RR 61 803 mln) received under sale and repurchase agreements with other banks. Fair value of securities collateralised under these agreements with other banks was included in securities pledged under repurchase agreements in the amount of RR 254 947 mln (2010: RR 74 550 mln) and in investment securities available for sale in the amount of RR 1 320 mln (2010: nil). Refer to Notes 11 and 32.

Included in due to other banks are liabilities in the amount of RR 10 853 mln under sale and repurchase agreements which are collateralised with securities of clients. Fair value of such securities totalled RR 11 936 mln.

The estimated fair value of due to other banks is disclosed in Note 34. Currency and maturity analyses of due to other banks are disclosed in Note 31. The information on related party balances is disclosed in Notes 35 and 36.

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