Banks raise 15 bln rubles in unsecured loans from CB, demand at 21 bln rubles

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Banks raise 15 bln rubles in unsecured loans from CB, demand at 21 bln rubles

MOSCOW. Aug 17 (Interfax) - Banks have raised 14.998 billion rubles (out of an offered 15 billion rubles) in five-week loans from the Central Bank at an auction on Monday, the CB said in a statement.

The cutoff rate was put at 11.26% with a minimum of 11.25%.

The average rate came to 11.45%.

A total of 24 banks participated in the auction. Demand came to 21.23 billion rubles.

The funds will be provided on August 19 with the date of return on September 23.

For the auction, a bank was able to submit a maximum of three applications at a minimum of 1 million rubles each.