9 Nov 2012 14:41

Russian Treasury to place funds in 35-day deposits with 50 bln ruble limit Nov 13, 15

MOSCOW. Nov 9 (Interfax) - The Russian Treasury will choose banks in which to deposit idle federal budget funds for a 35-day period on November 13 and 15, with a minimum of 50 billion rubles for each deposit, the Treasury reported.

The November 13 selection will be performed in closed form on the St. Petersburg Currency Exchange, and the November 15 selection will take place in open form on the Moscow Exchange MICEX-RTS. The funds will be deposited until December 19 and 21, respectively.

The Treasury has set the minimum interest rate for both auctions at 6.3% per annum.

Each bank can submit no more than five applications, with each application worth at least 200 million rubles.