Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Public Accounts Committee

2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation

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9:00 am

Mr. Gary Hynds:

The transaction was designed to spread the cost of meeting the payments required under promissory notes from a seven to eight-year horizon to a 30-year plus horizon for the State, thereby saving on cashflow. There was also a benefit to the Government deficit.

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