OREANDA-NEWS. March 16, 2011. The Bank of Moscow has been announced the winner of the bidding for the right to place temporarily free funds of the Republic’s budget within the scope of implementation of the General Agreement on placement of budgetary funds of the Republic of Komi in bank deposits, concluded by the Ministry of Finance of the Republic of Komi with credit institutions.

Five hundred million rubles have been deposited with the Bank for a term of 62 days. During the application selection proceedings, the Bank offered the Ministry the most beneficial placement terms, coming out on top above a number of big Russian banks that also took part in the tender.