16 Sep 2011 12:50

MinFin to select banks for placing up to 100 bln rubles in 3-wk deposits on Sept 19

MOSCOW. Sept 16 (Interfax) - Russia's Finance Minister will hold a selection of bank applications on September 19 for the placement of up to 100 billion rubles in temporarily idle budget funds in three-week deposits, the ministry said in its materials.

The minimum rate is set at 4.75%.

The funds will be placed in the banks between September 20 and October 12.

One bank is able to submit up to five applications at a minimum of 200 million rubles each.