22 Apr 2010 17:52

MinFin to select banks for placement of up to 50 bln in budget funds in 7-mth deposits on Apr 27

MOSCOW. April 22 (Interfax) - Russia's Finance Ministry will hold a selection of banks on April 27 for the placement of up to 50 billion in temporarily idle budget funds in seven-month deposits until November 24, the ministry said.

The minimum rate was set at 6.5%.

One bank can submit up to five applications at a minimum of 1 billion rubles each.