29 Nov 2011 12:49

Three banks get 46 bln rubles at budget funds auction

MOSCOW. Nov 29 (Interfax) - Banks won the right to hold 46 billion rubles in idle budgeted funds offered by the Finance Ministry at a November 29 auction at 5.96% pa, the ministry said in a statement.

The banks can keep the funds on deposits for three weeks, until December 21.

A total of three banks bid and demand was 47.2 billion rubles, or just above the 46 billion rubles on offer. The minimum bid allowable was 5.90% and bids at the auction ranged from 5.90% to 6.01%. The cut-off was 5.92%.