Sberbank - Annual Report 2010 - 7 Cash and Cash Equivalents

Home Financial Report Financial Statements Notes 7 Cash and Cash Equivalents

# 7 Cash and Cash Equivalents

In millions of Russian Roubles | 2010 | 2009
--- | --- | ---
Cash on hand | 297,956 | 240,641
Cash balances with the Bank of Russia (other than mandatory reserve deposits) | 77,447 | 70,007
Correspondent accounts and placements with other banks with original maturities up |  |
to 30 days: |  |
- Russian Federation | 142,417 | 280,828
- Other countries | 167,287 | 107,467
Reverse-repo agreements with original maturities up to 30 days | 34,494 | 26,578
Total cash and cash equivalents | 719,601 | 725,521

At 31 December 2010 cash and cash equivalents of RR 34 494 million (2009: RR 26 578 million) are effectively collateralised by securities received under reverse sale and repurchase agreements at a fair value of RR 39 988 million (2009: RR 31 580 million), which the Group has a right to sell or repledge. None of these securities have been sold or repledged (2009: 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 2010 is as follows:

In millions 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

Analysis by credit quality of the balances with counterparty banks and financial companies at 31 December 2009 is as follows:

In millions 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 | 275,717 | 1,500 | 3,611 | 280,828
- Other countries | 101,190 | 5,788 | 489 | 107,467
Reverse-repo agreements with original maturities up to 30 days | 158 | 17,085 | 9,335 | 26,578
Total correspondent accounts and placements with other banks and reverse-repo agreements with original maturity up to 30 days | 377,065 | 24,373 | 13,435 | 414,873

Credit quality in the tables above is based on the rating scale developed by the international rating agencies.

As at 31 December 2010 and 31 December 2009 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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