Results 20,541-20,560 of 26,228 for speaker:Kieran O'Donnell

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: I thank Mr. Carty. On a positive note, the NTMA has a cash balance of €18 billion. I have two questions on that. What does Mr. Corrigan believe would be the norm for the NTMA to hold into the future? What is the additional cost in terms of holding such cash reserves above the norm? Mr. Corrigan might deal with those two points. Mr. Corrigan referred to entering the market in the...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: What does Mr. Corrigan anticipate ten year bond yields being over the next two years? What would he be happy to see?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Is that a leading question?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: How long does Mr. Corrigan anticipate that will continue?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Mr. Corrigan has absolute privilege.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: What would Mr. Corrigan see as a-----

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Yes.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: We are trading at about 1.65%.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Traditionally, what would we have traded at?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: A normal market.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Indulge me for a moment.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: I want to touch on an issue that has come up at every meeting, namely, salaries within the NTMA. I will start with Mr. Corrigan's salary. In the NTMA's accounts, which are published, his salary is €416,500 in 2012 plus taxable benefits of just short of €30,000. The total package is approximately €446,000. He was entitled to a performance related bonus of up to 80%,...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Whether Mr. Corrigan would be entitled to the bonus was not even considered.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Does that apply in 2013 and 2014 as well?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: What about 2014?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Where stand the four recommendations put forward by the Comptroller and Auditor General in his 2011 report?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: If the NPRF acts with an agency such as State Street Bank again, what procedures are in place to ensure that a similar situation cannot arise? If transactions take place would an audit be carried out on all aspects, including the sale price and margins?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: The point made by the Comptroller and Auditor General was that the NTMA would build into the contract that if it was subsequently discovered that State Street had been indulging in fraudulent activity it would pay a penalty. Has the matter been examined?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: Was the €3.2 million refunded by State Street the profits it earned? Was anything paid by way of compensation?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund (13 Feb 2014)

Kieran O'Donnell: To cut to the chase, it is clear that what has happened with State Street Bank has had an impact on the reputation of the NTMA and Ireland Inc. Will Mr. Corrigan, as CEO and head of the NTMA, now consider taking legal action against State Street bank for damages and compensation due to the impact it has had?