6 Mar 2012 13:10

Banks get 8 bln rubles at budget funds auction at 5.49%

MOSCOW. March 6 (Interfax) - Banks won the right to hold 8 billion rubles of the 10 billion rubles in idle budgeted funds offered by the Finance Ministry at a March 6 auction at 5.49% pa, the ministry said in a statement.

The banks can keep the funds on deposits for three weeks, until March 28.

Two banks bid.

The minimum bid allowable was 5.40% and bids at the auction ranged from 5.45% to 5.50%. The cut-off was 5.45%.