Oireachtas Joint and Select Committees

Thursday, 17 November 2022

Public Accounts Committee

2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund

9:30 am

Mr. Des Carville:

They do it because selling stock in a high-profile transaction of that nature for a sovereign state is regarded as a prestige transaction. It is a transaction that attracts or carries a huge amount of scrutiny. For that reason, investment banks are very careful around those types of transaction because they know there is a huge amount of scrutiny in fora such as this. They are regarded very much as prestigious landmark transactions that banks can then use to show how good they are when they are pitching for other transactions.