логотип компании
home Sitemapsitemap
Jun 27, 2017 06:49
(GMT+3)
Latest news
Jun 05, 2017
Mobile app RZD Passengers for iOS platform now uses Apple Pay technology
Jun 03, 2017
RZD Holding, JSC Sinara Group and Siemens sign agreement of intent to create new Lastochka modifications
Jun 02, 2017
Russian Railways and Indian Railways sign agreement to develop feasibility study for Nagpur-Secunderabad project
Jun 01, 2017
Federal Passenger Company, Mastercard and VTB24 sign cooperation agreement
Jun 01, 2017
GEFKO and SUEK sign cooperation agreement on integrated logistics for industrial goods
Jun 01, 2017
GEFKO and GTLK agree to cooperate on logistics
News archive
Home
Investor Relations
Debt and Lender Information
Risk Management
Liquidity risk

Liquidity risk

Liquidity Planning

Russian Railways manages its long, medium and short-term cash flows according to its budget, its monthly balance of payments and the daily payment calendar. Based on its current position and the requirements of its existing contracts and agreements, the Company draws up the payment calendar for the next month, broken down day-by-day. In order to monitor the Company’s solvency, a daily payment position is established which, together with the approved balance of payments, is used to meet the financing needs of subsidiaries and affiliates.

To fund ongoing needs for working capital, Russian Railways has open credit lines with leading Russian banks. Counterparty banks provide a wide range of products, from overnight loans to long-term loans.

Placing Remaining and Attracting Short-Term Loans

Short-term financing is used when required and is borrowed under the existing credit lines. Idle cash is placed on deposit within the internally defined credit limits for each financial institution. Such limits are calculated based on the relevant methodology and approved for each counterparty by the Risk Management Comittee. Russian Railways is improving the structure of its debt portfolio and reducing the portion of short-term borrowings, as well as the average cost of borrowed funds.

The Company has concluded general agreements with banks, which act as framework agreements. All subsequent transactions are executed via separate confirmations containing information about the transaction amount, date of execution and other important details. This standardized practice of establishing relations between the parties is convenient and simplifies the process of transactions approval.

Administering the transactions has been simplified as far as possible through the use of Reuters Dealing to conclude them.

screenRenderTime=1

© 2003-2017, Russian Railways
Mass Media Registration Certificate El. No. ФС77-25927
When using any material from the site reference to rzd.ru is obligatory

The Company | Passengers | Freight | Press Centre | Investor Relations | Contacts | Search