Results 12,021-12,040 of 34,618 for speaker:Seán Fleming

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: I saw that newspaper article written by a reputable journalist recently. I note it states "The contract represents a impressive double win ... earlier this year the firm retained ... [the NAMA] ... contract". It probably covers a few years.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Probably. Mr. O'Kelly might forward us the information on that.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: I am not suggesting it is the annual fee. That is the headline. I want a breakdown of that. The firm is doing a good job for the agency. The witnesses appear before this committee every year and every time they do or they talk or give a press conference, they give the a good impression of the agency to most people in terms of how much it is has refinanced and that the interest it has on...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Is there any mechanism, internationally, to offer some incentive to bring forward debt that is not due to mature for some time?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Does the agency look at that?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Every day?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: That is the chart I would have loved to have seen in the annual report. Will Mr. O'Kelly give us the €200 billion debt broken down in terms of how much of it is being financed at under 1%, now that some of it is under 1%, how much of it is being financed at between 1% and 2%, how much of it is being financed at between 2% and 3%, and all the way up? Is there much of the older debt on...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: So there is nothing out there that is more than 6%.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: In 2019-2020. Will you send us on that chart because-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Many of them are at 4% and 5%, and then they drop down to 1.7% and 2%. Perhaps Mr. O'Kelly could give us the full breakdown of the 200. That is a good indicator. That is the only information I am looking for in that regard. I will move on to the Ireland Strategic Investment Fund. A figure of €526 million for residential housing is referred to on page 17 of the financial...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: That is for units built. Will Mr. O'Kelly try to get us the figure for the end of December 2017 to which that €526 million relates? We hear the big figure and for €526 million, we have 1,000 houses so far, and I know there are a lot to come. We are here to talk about delivery but has not happened in spite of the amount of money provided. Perhaps Mr. O'Kelly could give the...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: If one has 20 fund managers on the panel, inevitably there would be five, six, seven or eight who are very good while some of them are okay. There must be some managers who are not as good as others. What does the NTMA do about dropping those? Why would one use the bottom third performers if one knew there were others who are consistently doing better? I am aware that the NTMA can...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Is there much movement in that regard? Consider the market value of the investment of the six. Perhaps the witness can take the market value figure under the management of each of those companies for 2017, which is on page eight of the financial statement, and take it back two years to the same figure for 2015, with an explanation for why there is a significant change. We want to get a...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Yes, under the State Claims Agency; not under the NTMA. Will Mr. Breen from the State Claims Agency please forward to the committee a list of the 146 bodies, and what significant bodies do not come under the remit of the State Claims Agency? Do the local authorities come under the State Claims Agency?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Okay, that is one. What other big organisations are covered? Are third level colleges included?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Does the State Claims Agency deal with the section 38 agencies?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Have they all agreed?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Will Mr. Breen explain why this is and why some of the services are in the scheme and not others?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Did the section 38s transfer to pay-as-you-go?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed) (12 Jul 2018)

Seán Fleming: Was the HSE happy that these organisations were paying out €4 billion per annum because they did not have insurance and were on a pay-as-you-go system?