5 May 2011 13:45

Russian MinFin to select banks for deposit of 45 bln rubles in idle funds on May 10

MOSCOW. May 5 (Interfax) - Russia's Finance Ministry will hold a tender on May 10 for bank applications for the placement of up to 45 billion rubles in temporary idle budget funds in deposits, the ministry said in a statement.

The funds will be deposited from May 11 and August 30.

The minimum rate has been set at 4.15%.

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