19 Oct 2009 16:00

Russian banks get 41.5 bln rubles at 5-wk loan auction; cut-off rate

MOSCOW. Oct 19 (Interfax) - Russian banks received 41.5 billion rubles in five-week unsecured loans from the Central Bank out of 45 billion rubles on offer at Tuesday's auction, the bank said in a statement.

The cut-off rate was 11.25% annually, the same as the minimum rate.

The weighted-average rate was 11.51%, the Moscow Interbank Currency Exchange (MICEX) reported.

Thirty-four banks made bids. All were satisfied.

The banks will receive the funds on October 21 and return them on November 25.

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