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7. Cash and Cash Equivalents
| In mln of Russian Roubles | 2011 | 2010 |
|---|---|---|
| Cash on hand | 438,699 | 297,956 |
| Cash balances with the Bank of Russia (other than mandatory reserve deposits) | 51,254 | 77,447 |
| Correspondent accounts and placements with other banks with original maturities up to 30 days: | ||
| - Russian Federation | 25,247 | 142,417 |
| - Other countries | 88,618 | 167,287 |
| Reverse-repo agreements with original maturities up to 30 days | 21,747 | 34,494 |
| Total cash and cash equivalents | 625,565 | 719,601 |
At 31 December 2011 cash and cash equivalents of RR 21 747 mln (2010: RR 34 494 mln) are effectively collateralised by securities received under reverse sale and repurchase agreements at a fair value of RR 27 013 mln (2010: RR 39 988 mln), which the Group has a right to sell or repledge. None of these securities have been sold or repledged (2010: nil).
Correspondent accounts and placements with other banks and reverse-repo agreements with original maturities up to 30 days mostly represent balances with the largest and well-known foreign banks, top rated Russian banks and financial companies. Analysis by credit quality of the balances with counterparty banks and financial companies at 31 December 2011 made on the basis of ratings of international rating agencies is as follows:
| In mln of Russian Roubles | Investment rating | Speculative rating | Not rated | Total |
|---|---|---|---|---|
| Correspondent accounts and placements with other banks with original maturities up to 30 days: | ||||
| - Russian Federation | 7,058 | 3,728 | 14,461 | 25,247 |
| - Other countries | 69,581 | 18,162 | 875 | 88,618 |
| Reverse-repo agreements with original maturities up to 30 days | 1,727 | 16,139 | 3,881 | 21,747 |
| Total correspondent accounts and placements with other banks and reverse-repo agreements with original maturity up to 30 days | 78,366 | 38,029 | 19,217 | 135,612 |
Analysis by credit quality of the balances with counterparty banks and financial companies at 31 December 2010 made on the basis of ratings of international rating agencies is as follows:
| In mln of Russian Roubles | Investment rating | Speculative rating | Not rated | Total |
|---|---|---|---|---|
| Correspondent accounts and placements with other banks with original maturities up to 30 days: | ||||
| - Russian Federation | 137,890 | 1,478 | 3,049 | 142,417 |
| - Other countries | 142,242 | 19,991 | 5,054 | 167,287 |
| Reverse-repo agreements with original maturities up to 30 days | - | 1,461 | 33,033 | 34,494 |
| Total correspondent accounts and placements with other banks and reverse-repo agreements with original maturity up to 30 days | 280,132 | 22,930 | 41,136 | 344,198 |
Rating definitions in the tables above represent the rating scale developed by the international rating agencies.
As at 31 December 2011 and 31 December 2010 all cash and cash equivalents are neither past due nor impaired.
Currency and maturity analyses of cash and cash equivalents are disclosed in Note 31. The information on related party balances is disclosed in Notes 35 and 36.
