Treaty on conventional pool of foreign exchange reserves of the BRICS countries entered into force

Almaty. July 30. Silkroadnews - Treaty of conventional pool of foreign exchange reserves of the BRICS entered into force on 30 July 2015, reported Tass.
"The total volume of the pool is set at $100 billion. Each central bank of a member state of the BRICS reserves a certain amount as insurance for emergencies, which may be caused, in particular, by a strong capital outflow. Thus, the creation of a safety mechanism aimed at maintaining financial stability in the member states", - explained in the agency.
Accepted by BRICS obligations are as follows: China (owner of the world's largest foreign exchange reserves) - $41 billion, Brazil, India and Russia - at $18 billion, South Africa - $5 billion.
Meanwhile, yet to sign a number of technical documents regulating the work of the governing bodies of the pool. Currently, these documents have already been agreed with partners, it is expected to approve them at the first meeting of the Board of Governors of the pool in the margins of the next meeting of the Central Bank Governors and Finance Ministers of the BRICS.