Results 101-120 of 1,737 for speaker:Noel Rock

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: That is quite unique internationally. A 100-year bond is very rare, given, as the Mr. O'Kelly said in his introductory remarks, that we could barely borrow at one stage and we could barely lend for 100 days. I am curious as to how that came about.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: Yes, indeed. There is the impact of the quantitative easing, QE, and all that, and there is a longer term implication there, but I should probably stick to this line for now. Has there been any independent external reviews of the debt service costs?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: On the NTMA's other external functions, of which there is an increasing number, and as Mr. O'Kelly acknowledged there is a great many, is the NTMA satisfied with the pace at which the Ireland Strategic Investment Fund, ISIF, is investing since its establishment? The investment has been €2.2 billion from what I can see up to the end of 2015 but it depends on matching funds and...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: Yes, absolutely. A 50:50 component, or how it is currently constituted, would seem to be a potential missed opportunity in so far as the NTMA could have the European Investment Bank, EIB, matching to the level of 10% or 20% perhaps and us taking 75% and 90%. It has often been posited to me that ISIF would perhaps be the first investment fund in the world to run out of ideas before it ran...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: One theme that jumped out at me as I read the report was the impact of Brexit on the NTMA and how it conducts its business. Some 20% of the remaining loan assets of the National Asset Management Agency, NAMA, are located in the UK. To what extent have derivative assets and exchange rate hedging, in particular, shielded the NTMA from the fall in the value of sterling?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: I ask Mr. O'Kelly to discuss the impact of quantitative easing, QE, and how we will adopt to a post-QE world.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: Does Mr. O'Kelly believe the NTMA has taken all it can in the current environment in the context of the possibility that costs will increase? As he stated, this could be the new normal but that may not be the case. Does he believe the NTMA has taken the greatest possible advantage?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: That is fair enough. In terms of staffing and remuneration at the National Treasury Management Agency, one thing that jumps out is the level of bonuses, which has multiplied by seven between 2014 and 2015. Does Mr. O'Kelly care to comment or provide an analysis of that?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: Is staff retention increasingly difficult in this more competitive market? Is the NTMA at risk of losing staff?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: On that note, 78 NTMA staff are on gardening leave. How much does that cost?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: That is natural enough. The concept of poacher turned game keeper applies when staff leave. I understand and appreciate that gardening leave is necessary.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: I accept that. The note I had stated it was relevant to the NTMA. I have one or two questions on the State Claims Agency before I wrap up. Perhaps they are more relevant to Mr. Breen. PPOs are in decline and it appears that many more lump sum payments are being made. What is the position with regard to the legislation forthcoming in this area and how is it affecting how the State Claims...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: Absolutely. I think they are an important instrument and whatever legislative change that needs to take place should be made in an expedited way. It seems to have been a long time coming. Is that Mr. Breen's view?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: Going back to Mr. O'Kelly, in terms of the ISIF, there is a section that outlines certain foreign assets and liabilities of the NPRF which have yet to be transferred to the ISAF. What is the nature of those assets and liabilities?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: In terms of the €6.2 million of administrative costs for NewERA, what is the breakdown of that?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: In terms of non-salary costs?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: It just stood out in the context of the other functions as quite a high burden.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: So it was a one-off cost and we will not see it replicated in 2016 and 2017?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016)

Noel Rock: That is fair enough. I suppose there are a lot of one-off costs from year to year. That is it for me. I thank the witnesses for their time. I had a look at the accounting statement and I think the NTMA is doing a fantastic job. The number of people seeking to invest in the 100-year bond is a testament to what a good job the witnesses are all doing. I know Mr. O’Kelly is new in...

Written Answers — Department of Justice and Equality: Garda Station Closures (16 Sep 2016)

Noel Rock: 43. To ask the Minister for Justice and Equality if, in view of recent census data, the decision to close Whitehall Garda station will be reviewed; if spare capacity within the building or on the grounds which is now housed by other services will be utilised; and if she will make a statement on the matter. [24802/16]