27 Nov 2009 14:44

Central Bank to offer banks 3-mth, 5-wk unsecured loans on Nov 30-Dec 1

MOSCOW. Nov 27 (Interfax) - The Central Bank of Russia will hold auctions on November 30 and December 1 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 2.

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