Finance Ministry to offer banks 40 bln rubles in 3-mth deposits on April 20

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Finance Ministry to offer banks 40 bln rubles in 3-mth deposits on April 20

MOSCOW. April 16 (Interfax) - Russia's Finance Ministry will offer banks 40 billion rubles in temporarily idle budget funds for three-month deposit at auction on April 20, the ministry said in a statement.

The minimum interest rate is 6.5%.

The funds will be provided on April 21 and returned on July 21.

A bank may submit up to five bids. The minimum bid is 1 billion rubles.

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