Results 16,521-16,540 of 28,162 for speaker:Catherine Murphy

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

Catherine Murphy: Yes.

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

Catherine Murphy: Many members believe that the State has been very short-changed by the IBRC although that is not the witnesses' concern; they are there to manage the national debt rather than the politics of it. Did today's auction relate to IBRC?

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

Catherine Murphy: I refer to the bondholders who, as of 2017, were to be paid €933 million. In terms of the outstanding claims for IBRC-----

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

Catherine Murphy: Yes. Must the NTMA wait until the distressed assets and so on are sold? How is that managed?

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

Catherine Murphy: What is the estimated worth of the distressed assets?

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

Catherine Murphy: The witnesses stated that the ISIF is worth approximately €8.9 billion.

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

Catherine Murphy: What was it worth at its height?

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

Catherine Murphy: Prior to its current form.

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

Catherine Murphy: However, the €8.9 billion would have created income in the meantime.

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

Catherine Murphy: Retention payments totalling €80,000 were made to two NTMA employees in 2017. Are there any outstanding employment contracts which were entered into prior to 2014 and have retention implications?

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)

Catherine Murphy: I will come back to something I touched on this morning relating to contingent liability. There was a Supreme Court case in 2017. The court ruled, with regard to the 1%, that claims for future loss should be calculated at a real rate of return of 1.5%. This results in a higher net percentage value being placed on projected future cashflows. There has been an increase as a consequence of...

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)

Catherine Murphy: If somebody was made a ward of court and a payment went into a fund for investment, is this in addition to that or is it how amounts are projected into the future?

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)

Catherine Murphy: Is there a further catch-up or is that it, following which the projection involves new claims on the 2.7% estimated to be contingent?

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)

Catherine Murphy: Does it have an impact on the projected contingent liability? I presume that is why it has gone up.

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)

Catherine Murphy: I turn to a particular aspect of the investment in housing. A reason has been given, but we had been expecting €400 million of the proceeds of the sale of Bord Gáis to be placed in an off-balance sheet entity and applied to housing. However, that did not happen. We were told that it did not prove possible to devise a model which would be capable of utilising the €400...

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)

Catherine Murphy: The NTMA was not managing it.

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)

Catherine Murphy: Irish Water features in the loans. There is a loan of €450 million. Initially, it was €300 million and then €150 million. The only income Irish Water has apart from commercial water charges is from the Exchequer. Is it really a loan facility in that case? It does not appear that Irish Water has an income from which it can discharge loan repayments. It has been...

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)

Catherine Murphy: I presume it will be at a favourable rate.

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)

Catherine Murphy: Responsibility for an additional 17 section 38 organisations and others was taken over by the State Claims Agency. There was an 18% increase in settlements in 2017, resulting in a figure of €218 million. Was that exclusively because of the additional agencies or was the profile of claims different?

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)

Catherine Murphy: We know that there is a difference in the cost of settling cases when there is a clinical issue involved. How do we compare with other countries where the agency's counterparts settle claims in terms of the profile and extent of claims?