OREANDA-NEWS. August 6, 2010.  In 1H2010, the Finance Ministry deposited temporary free budget funds worth RUB 94.8 bn at 6 banks, the government said in a report on anti-crisis measures, addressed to the State Duma. In particular, the money was deposited at Rosselkhozbank, Bank Saint Petersburg, VTB North-West, Zenith, Credit Europa Bank and Bank of Moscow, where as much as 50.5% of the stated amount was placed, or some RUB 48 bn. Of a total of 21 deposit auctions, 14 were deemed as void, because of zero demand from credit organizations.

Deposit periods vary between 3 and 7.5 months. In 6M2010, banks redeemed a total of RUB 94 bn to the federal budget, including RUB 55 bn placed in 2009. As of July 1, budget deposits with Russian banks totaled RUB 55.8 bn.