MinFin to select banks on Oct 4 for the placement of 105 bln rubles until Jan 18

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MinFin to select banks on Oct 4 for the placement of 105 bln rubles until Jan 18

MOSCOW. Oct 3 (Interfax) - Russia's Finance Ministry will hold a selection on October 4 of bank applications for the placement of 105 billion rubles in temporarily idle budget funds in deposits until January 18, 2012, the ministry said in its materials.

The minimum rate has been set at 6.2%.

One bank may submit up to five applications at a minimum of 200 rubles each.