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Bank of Russia extends more unsecured loans
RBC, 06.11.2008, Moscow 16:33:04.The Bank of Russia has auctioned off RUB 50.307bn (approx. USD 1.87bn) in unsecured loans today, at an annual cutoff rate of 9.6 percent, MICEX's press service reported today. The Bank of Russia offered a total of RUB 150bn (approx. USD 5.57bn) in loans, which are to be granted on November 7, 2008 and mature on December 10, 2008. The lowest interest rate was 9.5 percent a year. Each lending agency was allowed no more than 3 bids of at least RUB 1m (approx. USD 37,161). Yesterday, First Deputy Chairman of the Bank of Russia stated that the bank will launch the first auction to grant unsecured loans for a period of six months in November 2008.
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