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.

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