Oireachtas Joint and Select Committees
Thursday, 10 October 2019
Public Accounts Committee
Business of Committee
9:00 am
Mr. Seamus McCarthy:
It is my understanding that the build up in cash was in anticipation of having to refinance later in the year. Effectively they borrowed early against loans they had to redeem. There is also an element of ensuring sufficient liquidity in the system i the event of a hard Brexit or unknown developments around that.