20 Apr 2012 18:08

Russian MinFin to offer banks 50 bln rubles in budget funds on April 24

MOSCOW. April 20 (Interfax) - The Russian Finance Ministry will offer banks the right to hold 50 billion rubles in idle budget funds at an auction on April 24.

The minimum interest rate at the auction is 6.05%, the ministry said.

Banks will be able to hold the funds until May 30.

Banks can make up to five bids during the auction and the minimum bid is 200 million rubles.