Oireachtas Joint and Select Committees

Thursday, 13 February 2014

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund

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1:30 am

Mr. John Corrigan:

As I said in my opening remarks, the legislation governing the NPRF requires the fund to invest commercially. In the absence of a regulator and a pricing regime, there was no stream of income that could have supported the servicing of the loan.

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