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Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Risk.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Mr. Ashmore mentioned that there was an examination of the environmental aspect as regards the NTMA's approach. Obviously, that is a good thing. Will he explain how the environmental aspect - when the bombing of an entire area obviously has huge environmental implications - is assessed at the point when Israeli bonds were being invested in? How does its environmental assessment work? War...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: How does the environmental aspect come into it?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: So it would be more if there was-----

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Yes, but that is separate. The environmental assessment, so to speak, does not relate to the environmental impact of where the money is going. It is simply on how the return would be-----

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: My view is that we need to do awful lot of work as regards the legislative mandate. Did Mr. Ashmore outline what the exact figures are for those six securities? I do not have the exact figures.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: I just wanted to get that right. On the fraud that occurred, the witnesses can tell me which questions they can answer and which they cannot. We want to be kept in check here. Previously, I worked in different banks, in collateral management and in confirmation settlements in derivative trades. There was checking and double-checking, and I was a low-level employee. We were...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Of course.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: No.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: It was signed off in Mr. O'Connor's name, so I do not know if people would.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Will there be a look-back?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Mr. O'Connor mentioned it.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: Of course.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: My time is up but I am conscious Mr. O'Connor wanted to say a few things at the beginning of the meeting. I think it was in regard to an Teachta Timmins's questions. Would Mr. O'Connor like to add anything else before we wrap up the meeting?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Engagement with the NTMA on Matters Relating to its Operation (22 Jul 2025)

Mairéad Farrell: I thank Mr. O'Connor. Go raibh míle maith agaibh as teacht chur an coiste agus as labhairt sinn inniú. That concludes the joint committee's business today. We will next meet, in private session, at 11.30 a.m. on Wednesday, 23 July. Go raibh maith agaibh.

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