Central Bank loans banks 0.64 bln rubles at twelve-month repo auction

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Central Bank loans banks 0.64 bln rubles at twelve-month repo auction

MOSCOW. June 15 (Interfax) - The Central Bank of Russia provided banks with 0.638 billion rubles at a twelve-month direct repo auction on Monday, the MICEX exchange told Interfax.

The Central Bank was prepared to offer a maximum of 120 billion rubles at the auction, but banks only took 0.53% of this amount. All requests were satisfied.

The average weighted interest rate was 11.6008% with a minimum rate of 11.25%.

Monday marked the first time the Central Bank has held a direction repo auction for twelve months. They are now expected to be held once every four weeks. The Central Bank will set the minimal interest rate and the maximum amount of funds to be offered for each auction.