Russian banks get 58.3 bln rubles at one-year loan auction; cut-off rate at 12.76%
MOSCOW. July 27 (Interfax) - Russian banks took 58.347 billion rubles worth of one-year unsecured loans of the 75 billion rubles offered by the Central Bank at Monday's auction, the bank said in a statement.
The cut-off rate was 12.76%, while the minimum rate was 12.75%.
The average weighted interest rate was 13.08%.
Twelve banks took part in the auction and all demand was met.
The banks will receive the funds on July 29, 2009 and must repay them by July 28, 2010.
The Central Bank held its first auction for one-year unsecured loans on June 8. The bank offered 50 billion rubles worth of loans, while demand exceeded this amount by some 260% at more than 180 billion rubles.