18 May 2012 16:37

MinFin not to admit more banks to idle budget funds auctions

ST. PETERSBURG. May 18. (Interfax) - The Russian Finance Ministry does not plan to lengthen the list of banks eligible to bid at auctions for idle budget funds, Deputy Finance Minister Sergei Storchak old reporters.

"There's no need for this so far. I think the fairly conservative approach to this issue has its merits," Storchak said.

Storchak said the Finance Ministry had in its time deposited considerable resources without any security from banks. "This is not entirely typical for sovereigns," he said.