11 Aug 2009 13:26

Russian banks get 44.3 bln rubles at 5-wk loan auction; cut-off rate

MOSCOW. Aug 11 (Interfax) - Russian banks received 44.303 billion rubles worth of five-week unsecured loans from the Central Bank out of a possible 60 billion rubles at Tuesday's auction, the bank said in a statement.

The cut-off rate was the same as the minimum rate, 11.5% annually.

The banks will receive the funds on August 12 and will return them on September 16.

Each bank could submit three bids. The minimum bid was 1 million rubles.