Banks' reserves grow in Russia

The volume of reserves of credit organizations, including their cash reserves and balances at their accounts at the Central Bank, were 371.334bn rubles ($11.79bn) on July 1, 2002, which was 4.207bn rubles ($133.56m) more than on June 1, 2002 and 29.025bn rubles ($921m) more than at the beginning of the year, the public relations department of the Russian Central Bank reported.

Foreign assets of credit organizations amounted to 572.803bn rubles ($18.18bn) on July 1, 2002, which was 11.522bn rubles ($365.78m) lower than on June 1, 2002.

The total volume of on-demand deposits was 579.614bn rubles ($18.4bn) on July 1, 2002. Time and savings deposits amounted to 1.102 trillion rubles (about $35bn) including deposits in foreign currency totaling 604.13bn rubles ($19.18bn). Deposits of state agencies were 98.223bn rubles ($3.12bn) including 63.334bn rubles ($2.01bn) of regional and local government agencies.

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