Oireachtas Joint and Select Committees
Thursday, 24 January 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Economy and Funding Requirements: Discussion with NTMA
3:05 pm
Mr. John Corrigan:
It is a difficult question to answer because the European Central Bank has not spelled out in detail the conditions to quality for OMT. Nobody has benefited directly from OMT yet. That said, we have benefited indirectly. In talking to investors about the five-year bond we issued at the beneficial rate of 3.32% we certainly benefited from the gravitational pull of OMT. The terms under which OMT would be triggered for a particular country have not been spelled out.
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