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11. Securities Pledged under Repurchase Agreements

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In billions of Russian Roubles 2012 2011
Trading securities pledged under repurchase agreements
Federal loan bonds (OFZ bonds) 19.7 0.4
Corporate bonds 19.5 6.1
Corporate shares 8.0 34.3
Foreign government bonds 6.0
Municipal and subfederal bonds 3.4
Russian Federation Eurobonds 0.5 7.0
Investments in mutual funds 0.3
Total trading securities pledged under repurchase agreements 57.1 48.1
Securities designated at fair value through profit or loss pledged under repurchase agreements
Federal loan bonds (OFZ bonds) 8.7 8.1
Municipal and subfederal bonds 0.1
Corporate shares 1.3
Total securities designated at fair value through profit or loss pledged under repurchase agreements 8.8 9.4
Investment securities available for sale pledged under repurchase agreements
Federal loan bonds (OFZ bonds) 401.7 25.5
Corporate bonds 150.2 30.8
Foreign government bonds 26.7 0.3
Municipal and subfederal bonds 25.4
Russian Federation Eurobonds 11.1 29.4
Corporate shares 1.2 20.1
Total investment securities available for sale pledged under repurchase agreements 616.3 106.1
Investment securities held to maturity pledged under repurchase agreements
Federal loan bonds (OFZ bonds) 160.3 136.4
Municipal and subfederal bonds 60.1
Corporate bonds 47.1 0.8
Total investment securities held to maturity pledged under repurchase agreements 267.5 137.2
Total securities pledged under repurchase agreements 949.7 300.8

Analysis by credit quality of debt securities pledged under repurchase agreements outstanding at 31 December 2012 is as follows:

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In billions of Russian Roubles Investment rating Speculative rating Not rated Total
Federal loan bonds (OFZ bonds) 590.4 590.4
Corporate bonds 89.2 102.8 24.8 216.8
Municipal and subfederal bonds 72.4 16.6 89.0
Foreign government bonds 32.7 32.7
Russian Federation Eurobonds 11.6 11.6
Total debt securities pledged under repurchase agreements 796.3 119.4 24.8 940.5

Analysis by credit quality of debt securities pledged under repurchase agreements outstanding at 31 December 2011 is as follows:

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In billions of Russian Roubles Investment rating Speculative rating Not rated Total
Federal loan bonds (OFZ bonds) 170.4 170.4
Corporate bonds 24.9 11.5 1.3 37.7
Russian Federation Eurobonds 36.4 36.4
Foreign government bonds 0.3 0.3
Total debt securities pledged under repurchase agreements 231.7 11.8 1.3 244.8

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

Refer to   for the detailed information on securities pledged under sale and repurchase agreements with banks and corporate customers.

All corporate bonds pledged under repurchase agreements are not past due. None of the securities pledged under repurchase agreements were renegotiated.

Currency and maturity analyses of securities pledged under repurchase agreements are disclosed in Note 32. The information on related party balances is disclosed in Note 38.

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