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Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Individually. When it is her turn, the Deputy should direct the question to either person and both will answer, one after the other.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: There is an element of crossover on some issues and members were not sure who would have responsibility. That is why both sets of witnesses are present. The Deputy should direct her questions to one or both.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: We will get to the Deputy in due course. Mr. O'Kelly might reply to Deputy Durkan.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: There were a number of specific questions there, so the representatives can decide among themselves who will take them.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Do the witnesses wish to comment?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: We will start on the deliberations next week and some of those will be the recommendations. Do the witnesses want to comment on anything Deputy Cowen said?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: That is fair enough. I call Deputy Brophy.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I thank the Deputy. Is the Department aware of the situation in Austria?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: In a bid to be helpful to the committee, the last time the Minister for Finance was at this committee, he spoke about the French model and Mr. Dorgan subsequently sent on some information. If Mr. Dorgan has any further information regarding the measures referred to by Deputy Collins, he might forward them on by correspondence.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I will ensure Deputy Collins receives it also.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Mr. O'Kelly, I wish to clarify something because you hit on a point that has come up specifically in respect of National Asset Residential Property Services. Let us call it NARPS 2 because it is outside NAMA and it is a new model. The committee's understanding is that accessing the funds is not the issue but rather the technical construction of NARPS 2 is the problem. You are saying now,...

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Let me conclude on the question with one final point. Earlier, Mr. Dorgan, you were answering a question from Deputy Brophy in respect of NARPS. He took up the question from a slightly different angle but you mentioned that the original NARPS entered agreements with the approved housing bodies. If NARPS 2 entered agreements with local authorities rather than approved housing bodies, would...

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Are you saying with a degree of confidence, Mr. Dorgan, that if NARPS 2 were engaging with local authorities rather than approved housing bodies, the Department would be comfortable to take the view that because NARPS was off-balance sheet it follows that NARPS 2 would be off-balance sheet as well?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: I want to hear the answer.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Yet the Department can do it in this way for approved housing bodies. Is that correct?

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Deputy O'Sullivan, are you happy with that? Sorry for interrupting you.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: No, I understand Deputy Ó Broin referred to a mix.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Colleagues, that is a matter for deliberations. Deputy Ó Broin asked a specific question to elicit information and received a direct answer. Deputy Durkan had a brief point.

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Before we conclude, I have two very brief questions for Mr. O’Kelly. When the Minister for Finance, Deputy Noonan, was answering questions in the Dáil recently, he referred to the fact that the NTMA is looking at different funding models. I take it from the discussions we have had today that one of those specific models is what we are loosely calling NARPS 2 or something around...

Committee on Housing and Homelessness: National Treasury Management Agency and Department of Finance (31 May 2016)

John Curran: Does Mr. O’Kelly have a high degree of confidence in that?

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