Oireachtas Joint and Select Committees

Thursday, 2 March 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 34 - Environment, Community and Local Government

9:00 am

Mr. John McCarthy:

No. I will just check on the figures, but of that €4 billion, approximately €3.6 billion of that is borrowing that is funded through the Housing Finance Agency. The Housing Finance Agency, in turn, largely utilises the NTMA as its borrowing vehicle. The bulk of that funding would be available at very competitive rates. For example, the typical interest rate that is charged on HFA borrowings at the moment - the sort of standard non-mortgage variable rate - is about 1.5%.