11 Dec 2009 16:44

Central Bank to offer banks 3-mth, 5-wk unsecured loans on Dec 14-15

MOSCOW. Dec 11 (Interfax) - The Central Bank of Russia will hold auctions on December 14 and 15 to offer banks 5 billion rubles in three-month unsecured loans and 10 billion rubles in five-week unsecured loans, the bank said in a statement.

The minimum interest rate will be 11.5% annually for the three-month loans and 11.25% for the five-week loans.

The funds will be provided on December 16. The three-month loans must be returned on March 17, 2010 and the five-week loans on January 20.

Banks may make up to three bids. The minimum bid amount is 1 million rubles.