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Русский Sep 23, 2019 23:21
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Latest news
Sep 19, 2019
"Russian Railways is ready to expand cooperation with the railway administrations in the SCO," says Oleg Belozorov
Sep 19, 2019
Container traffic on Trans-Siberian increased by a quarter from January to August 2019
Sep 17, 2019
"The creation of joint ventures is a key format for cooperation across the 1520 Space" says Dmitry Pegov, Deputy Managing Director of Russian Railways
Sep 11, 2019
Allegro passenger numbers increased by more than 16% in January-August 2019
Sep 05, 2019
Oleg Belozorov: "Russian Railways plans to reduce delivery times from Japan to Europe via Trans-Siberian to 14 days"
Sep 05, 2019
Russia and Japan to create Russian-Japanese Centre for Preventive Medicine and Diagnostics
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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.

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