Oireachtas Joint and Select Committees
Thursday, 22 November 2012
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
11:10 am
Mr. John Corrigan:
Yes, it was the largest disposal because it was part of the €10 billion which had to go into the banks to recapitalise them. In the normal course we would have had smaller transitions which would reflect changes in the investment outlook within the NTMA, where we would switch from one category of investments to another. However, in the normal course of business, we would never have transitioned a block of this order of magnitude.