The foreign assets owned by the banking sector of Russia, which is represented by the Russian Central Bank, credit institutions and Vneshekonombank (except for the funds at the balance of Vneshekonombank, which are managed by Vneshekonombank as an agent of the Russian government), were $58.263 billion on April 1, 2002. According to the Department of Foreign and Public Relations of the Russian Central Bank, this figure is $1.135 billion higher than on January 1, 2002. The foreign debts of the Russian banking sector were $14.608 billion on April 1, 2002, an increase of $7 million as compared to the figure reported on January 1, 2002. The international investment position of the Russian banking system, which is calculated as the balance of foreign assets and debts of the banking sector, was $43.655 billion in the first quarter of 2002. On January 1, 2002 this figure amounted to $42.527 billion. The positive balance points to the fact that the banking sector is a "pure creditor" in respect to non-residents, while negative balance means that the banking sector is a "pure debtor".