OREANDA-NEWS. On 22 August 2008 was announced, that in the 15-day Term Deposit Auction that lasted from 18.08.2008 till 21.08.2008 5479 bids were placed and 2275 bids were accepted to the winning pool.

The highest winning bid was posted on 2008-08-18 at 09:01:33 for 7,70%!

The average interest rate for 15-day term deposits constituted in this auction was 7,38%.

The minimum interest rate was 4,00%.

We remind the rules of accepting the bids to the winning pool:

1. Funds for constituting term deposits should be on source account before the bidding period ends.

2. Bids are ranked by the lowest interest rate offered in the auction by all participants

3. Based on the above mentioned ranking, bids are granted successfully up to the maximum pool amount.

4. In case of bids posted with the same interest rate, the one with the earliest timestamp will have precedence.

Example:

Auction of 10 million PLN for a max. of 7%

At the end of the bidding period, all bids placed totaled 15million PLN.

The offers with interest rate among 3% and 6% totaled 9.9 million PLN.

The next two offers on the ranking have 6.1% and are both for 100 000 PLN.

Based on rule nr 4, the bid of PLN 100 000 that was posted eariler will be granted successful and the other will not be successful because the total pool amount of 10 million PLN was achieved.