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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