18 Dec 2012 18:16

Russian Treasury places 40 bln rubles in 35-day bank deposits, average rate comes to 6.62%.

MOSCOW. Dec 18 (Interfax) - Russia's Federal Treasury has placed 40 billion rubles in temporarily idle budget funds in 35-day bank deposits through the St. Petersburg Forex Exchange (SPCEX). The average weighted rate at tender came to 6.62%, the treasury said in its materials.

Total applications for placing funds were received from 10 banks, totaling 50.161 billion rubles with the set limit at 40 billion rubles.

Banks offered rates within 6.5%-6.8%. The cutoff rate was set at 6.5%, which is equal to the minimal rate of 6.5%.

All 10 bank applications were approved.