Aug 15. The executive board of the Public Utility Reform Fund took a decision to hold two auctions on August 28, 2008 for the right to take deposits totaling RUB 20 bn, the fund said in a press release. The auctions will be held on the Saint Petersburg Currency Exchange in the Inter-Banking Lending Market section. Half of the aggregate amount is to be deposited for a term of 371 days and the other half for 91 days. Banks that meet the Russian Finance Ministry's requirements and signed general agreements on deposit placement with the fund could take part in the auctions. The day earlier, the director of the fund's department of available resources Oleg Rurin said that a total of RUB 10 bn will be offered to the banks in deposits at the first auctions for 3 and 12 months, and the maximum amount of the fund's cash deposited with banks will reach RUB 120 bn in two or three months.