4 Feb 2013 13:26

Russian Treasury to place 70 bln rubles in 7-day deposits Feb 5

MOSCOW. Feb 4 (Interfax) - The Russian Federal Treasury will select banks in which to place 70 billion rubles worth of temporarily idle federal budget funds in seven-day deposits (from February 6 to 13) on February 5, the Treasury reported.

The Treasury will carry out the selection in open form on the Moscow Exchange.

The minimum interest rate for the auction has been set at 5.8% per annum. The lower limit for each application is 200 million rubles, and one bank can submit no more than five applications.