5 Oct 2009 14:44

Russian banks get 15.545 bln rubles at 5-wk loan auction; cut-off rate

MOSCOW. Oct 5 (Interfax) - Russian banks received 15.545 billion rubles in five-week unsecured loans from the Central Bank out of a possible 30 billion rubles at Monday's auction, the bank said in a statement.

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

According to a statement from the MICEX, the average weighted rate at auction came to 11.38%. A total of 26 banks participated implementing 15.545 billion rubles in purchases.

The banks will receive the funds on October 7 and will return them on November 11.