Oireachtas Joint and Select Committees

Thursday, 4 July 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018

9:00 am

Mr. Ciarán Breen:

Yes, we will give a note on that. The issue in the particular case is that there is an insurer involved who is offering an indemnity to the State in respect of the State agreeing to bear its costs. If the State does not agree to bear its costs, the company will not give the indemnity. There is a calculation to be made by us at that time as to whether effectively a bird in the hand is worth two in the bush and whether we should get out on that basis and take that calculated risk of not exposing the State to a much greater financial risk, and it could be a much greater financial risk.

Comments

No comments

Log in or join to post a public comment.