Russia's Federal Treasury to place up to 40 bln ruble tranches in 28-day deposits on Nov 20 and 22

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Russia's Federal Treasury to place up to 40 bln ruble tranches in 28-day deposits on Nov 20 and 22

MOSCOW. Nov 16 (Interfax) - Russia's Federal Treasury will collect bank applications on November 20 and 22 for the 28-day deposit of tranches each worth up to 40 billion rubles in temporarily idle budget funds, the treasury said in a statement.

The November 20 selection will be held on the St. Petersburg Forex Exchange (SPCEX) by closed subscription. The November 22 selection will be held on the OJSC Moscow Exchange MICEX-RTS by open subscription. The funds will be deposited until December 19 and 21, respectively

The minimum interest rate for both auctions has been set at 6.3%.

The minimum amount per application comes to 200 billion rubles. One bank may submit up to five applications.