12 Feb 2013 17:24

Russian Treasury places 10 bln rubles in 7-day bank deposits at 5.6%

MOSCOW. Feb 12 (Interfax) - The Russian Treasury on Tuesday placed 10 billion rubles of idle federal budget funds in seven-day deposits (until February 20) at a weighted average rate of 5.6% per annum, the Treasury said in a statement.

The selection took place on the Moscow Exchange MICEX-RTS in open form.

Two banks submitted applications worth a combined 10 billion rubles, falling precisely in line with the placement limit.

In their applications, the banks indicated a minimum rate of 5.6%, which allowed them to raise the funds on the most favorable terms - the cut-off rate was set at this same level.