Oireachtas Joint and Select Committees

Thursday, 7 October 2021

Public Accounts Committee

2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020

9:30 am

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein)
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I will revert to the issue of the escrow account for a moment. The NTMA has outlined what has happened there very clearly, including in the documentation it has supplied. The value of the account has dropped by approximately €36 million. From the public's point of view and from the point of view of members of the committee, as laypeople, that is a concern. While, in the greater scheme of things, the sum of money involved is enormous, this is still a hit of €36 million for the State. The NTMA manages this. Perhaps the witnesses will clarify this for me. If this money was put on deposit in an account and not managed, there would be no loss and we would not have taken that €36 million of a hit.