13. Investment Securities Held to Maturity
| In billions of Russian Roubles | 2012 | 2011 |
|---|---|---|
| Corporate bonds | 84.2 | 130.1 |
| Federal loan bonds (OFZ bonds) | 8.8 | 74.7 |
| Municipal and subfederal bonds | 6.8 | 79.6 |
| Foreign government bonds | 6.1 | 0.1 |
| Promissory notes | — | 2.0 |
| Total investment securities held to maturity | 105.9 | 286.5 |
Analysis by credit quality of debt investment securities held to maturity outstanding at 31 December 2012 is as follows:
| In billions of Russian Roubles | Investment rating | Speculative rating | Not rated | Total |
|---|---|---|---|---|
| Corporate bonds | 17.7 | 55.8 | 10.7 | 84.2 |
| Federal loan bonds (OFZ bonds) | 8.8 | — | — | 8.8 |
| Municipal and subfederal bonds | 0.1 | 6.7 | — | 6.8 |
| Foreign government bonds | 3.7 | 1.8 | 0.6 | 6.1 |
| Total investment securities held to maturity | 30.3 | 64.3 | 11.3 | 105.9 |
Analysis by credit quality of debt investment securities available for sale outstanding at 31 December 2011 is as follows:
| In billions of Russian Roubles | Investment rating | Speculative rating | Not rated | Total |
|---|---|---|---|---|
| Corporate bonds | 27.3 | 48.2 | 54.6 | 130.1 |
| Municipal and subfederal bonds | 63.3 | 16.3 | — | 79.6 |
| Federal loan bonds (OFZ bonds) | 74.7 | — | — | 74.7 |
| Promissory notes | — | — | 2.0 | 2.0 |
| Foreign government bonds | — | 0.1 | — | 0.1 |
| Total investment securities held to maturity | 165.3 | 64.6 | 56.6 | 286.5 |
Credit quality in the table above is based on the rating scale developed by the international rating agencies.
At 31 December 2012 and 31 December 2011 there are no renegotiated debt investment securities held to maturity that would otherwise be past due. All debt investment securities held to maturity are not past due.
The estimated fair value of investment securities held to maturity is disclosed in Note 35. Currency and maturity analyses of investment securities held to maturity are disclosed in Note 32. The information on related party balances is disclosed in Note 38.