Ministry of Finance has become generous to 100 billion rubles

Ministry of Finance will hold a July 21 auction on placement of deposits in Russian banks 100 billion rubles, temporarily free of the federal budget for three months under the minimum rate of 12.25% per annum, the ministry said. Deposits made on 22 July and returned on October 21. This will be the seventh in this year's auction on the banks of the budget. Interest rate allocation of budgetary funds on deposits decreased along with refinancing. As a result of the previous auction on July 7 Ministry of Finance has placed on three-month deposits in one of Russian banks 30 billion rubles of temporarily free budget funds on the average rate of 13.05%. Earlier, the Ministry of Finance conducted an auction on June 2 while on a three-month deposits in two banks were placed 60 billion rubles of temporarily free budget funds on the average rate of 13.94% with a rate cut at 13.76% per annum. This year's first deployment of the budget on the deposits in commercial banks held on April 7. According to its results on three-month bank deposits were placed 60 billion rubles (from the proposed 180 billion rubles) by the weighted average rate of 15.01% per annum. Applications are submitted to the auction, only three lenders. At the second auction Ministry of Finance has placed on three-month deposits in Russian banks 45 billion rubles from the limit of 50 billion rubles at the weighted average interest rate of 15.01% per annum. At the auction on April 21 was posted 50 billion rubles at 14.78% per annum. At the auction on May 19 on three-month deposits in two banks were placed 85 billion rubles of temporarily free budget funds rate cut 14.27% per annum. Deputy Finance Minister Tatyana Nesterenko had previously reported that the Ministry expects to earn this year, the placement of temporary free funds 20 billion rubles, which will be sent to the revenues of the budget. Last year, the Finance Ministry between April and October regularly conducts such auctions in order to maintain liquidity in the Russian market amid the global financial crisis and capital outflows from the country. Portal Bank.ru Materials Rihanna.