23 Dec 2014 14:51

MinFin places 150 bln rubles in bank deposits at 17.98%

MOSCOW. Dec 23 (Interfax) - The Russian Treasury placed the entire limit of 150 billion rubles in temporarily idle budget funds in 3-day bank deposits at a weighted-average rate of 17.98% p.a., the Treasury said.

Four banks submitted bids totaling 220 billion rubles with interest rates in the range 17%-22%.

The cutoff rate was 17.10%. The minimum rate was 17%.

As a result, the funds were placed on deposit at two of the banks.