Aug 27. The volume of federal budgetary funds placed on bank deposits at Tuesday's auction amounted to RUB 21.1 bn within a maximum offering of RUB 100 bn. The weighted average placement price was established at 8.05% per annum, the cutoff rate at 8% per annum, the Russian Ministry of Finance reported. The maximum bid rate is 8.25% per annum, while the minimum rate is 8% per annum. The supply at the auction equaled the volume of floated funds. The date for introducing deposits is August 27, while the date when the funds should be returned to federal budget is September 24. The minimum volume of a credit organization's bid is RUB 200 mn, the maximum number of bids filed by one credit organization is 5. The previous auction was held on August 5, when Minfin floated RUB 16.2 bn at a weighted average rate of 8.04% per annum with a similar offered amount of RUB 100 bn. Minfin started holding auctions to place the temporarily free budgetary funds on the bank deposits in mid-April in order to improve the banks' liquidity amid the global financial crisis.