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
3:35 pm
Mr. John Corrigan:
It is somewhat of a stab in the dark. It depends on the absolute amount of funds that are covered. We made an assumption on that. It would depend on how long the maturity is extended for. For the purposes of arriving at the figure of billions we assumed that it would be extended for ten years. It depends on the difference in the interest rate at which they would be extended compared to the interest rate that we would have to pay if we went out onto the market. They are the main three constituents that came into the calculations.
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