ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of December 29, 2007 N955

About procedure for management of means of the Reserve fund

According to Articles 96.11 and 96.12 of the Budget code of the Russian Federation the Government of the Russian Federation decides:

1. Determine that control of means of the Reserve fund can be exercised:

a) by acquisition at the expense of means of the Reserve fund of foreign currency in US dollars, euro and pounds sterling (daleerazreshenny foreign currency) and its placements on the bank accounts opened in the Central bank of the Russian Federation in the permitted foreign currency (further - accounts on accounting of means of the Reserve fund) based on bank account agreement between the Federal Treasury and the Central bank of the Russian Federation (daleedogovor of the bank account). Pays the percent established by bank account agreement for use of the money placed on accounts on accounting of means of the Reserve fund, the Central bank of the Russian Federation;

b) by investment of funds of the Reserve fund in the following types of the financial assets nominated in the permitted foreign currency (further - the permitted financial assets):

debt obligations of foreign states;

debt obligations of the foreign state agencies and Central Banks;

the debt obligations of international financial institutions including which are drawn up by securities;

deposits in foreign banks and credit institutions.

2. Determine that limiting shares of the permitted financial assets in the total amount of the placed means of the Reserve fund constitute:

minimum share of debt obligations foreign gosudarstv50 percent;

maximum share of debt obligations foreign gosudarstv100 percent;

the maximum share of debt obligations of the foreign state agencies and Central Banks - 30 percent;

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