Oireachtas Joint and Select Committees

Thursday, 7 October 2021

Public Accounts Committee

2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020

9:30 am

Photo of Cormac DevlinCormac Devlin (Dún Laoghaire, Fianna Fail) | Oireachtas source

I thank Ms O'Halloran for that. I presume, given that answer, that the NTMA will be back before the committee and we will be discussing escrow several times between now and a final determination by the European courts. Is there any liability for the State if the fund goes below a certain level? I accept that the NTMA is looking for a return, and it is not for investment purposes but just to manage the fund, but if that fund were to continue to fall, is there any stipulation in the agreement that there is any further liability to the State?

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