Financial Statements. For the year ended 31 December 1999 and 1998 (стр. 10 )

		1999		1998
		RUR ‘000		RUR ‘000
Obligatory reserve deposits		382,659		89,307
Nostro accounts		327,219		328,470
		709,878		417,777

The obligatory reserve deposits are mandatory non-interest bearing deposits calculated in accordance with regulations issued by the CBR and whose withdrawability is restricted. The nostro balances represent balances with the CBR related to settlement activity and were available for withdrawal at year end.

14. PLACEMENTS WITH BANKS AND OTHER FINANCIAL INSTITUTIONS

		1999		1998
		RUR ‘000		RUR ‘000
Nostro accounts		308,704		120,302
Term deposits		398,184		952,590
		706,888		1,072,892
Less provision for losses		(5,477)		(194,793)
		701,411		878,099

Analysis of movements in the provision for losses

		1999		1998
		RUR ‘000		RUR ‘000
Balance at the beginning of the year		194,793		31,578
Amounts written off during the year		(194,793)		-
Net charge to the profit and loss statement		-		141,154
Net income/(expense) from foreign exchange		(1,222)		38,157
Loss on monetary position		-		(16,096)
Transferred from provision for losses on amounts receivable under reverse repurchase agreements		6,699		-
Balance at the end of the year		5,477		194,793

Amounts shown in the above table represent net movements in provisions for the year. Movements shown as positive amounts represent net increases in provisions. Movements shown as negative amounts represent net decreases in provisions.