BAKU, Azerbaijan, June 20. The Ministry of Finance of Azerbaijan has once again organized a deposit auction aimed at more effective management of the state budget funds, Trend reports via the ministry.
The auction was conducted to allocate the unencumbered balance
of the Unified Treasury Account into the national currency as
deposits within domestic financial institutions.
The Ministry observes that the unencumbered liquidity amounting to
500 million manat ($294.1 million) has been apportioned among the
nation’s quintet of preeminent financial institutions based on
their capitalization metrics and aggregate asset holdings. The
capital allocations were executed for a duration of 28 days,
yielding an average weighted yield of seven percent.
