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- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) ..., we will have an ongoing cost. For the individual banks, our analysis at the end of 2016 which I realise is a bit out of date was that approximately €35.8 billion was the cost for the IBRC. The cost for AIB was approximately €8 billion and for Permanent TSB, approximately €1 billion. For Bank of Ireland, it is looking kind of positive, to the tune of approximately...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Seán Fleming: When we come to that I will let the Comptroller and Auditor General in. We all know the big black hole was caused primarily by the IBRC, that is, Anglo Irish Bank and Irish Nationwide. I ask the Comptroller and Auditor General to flesh out the figures for the other banks. The black hole is concentrated within those two banks: IBRC which includes Irish Nationwide Building Society and Anglo...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) ...Seamus McCarthy: I will provide a chapter on the updated position as at the end of 2018. When I reported on the matter in 2016 - the figures are broadly in the same space - the big loss concerned IBRC. There is a loss on AIB which is relatively significant. In the case of PTSB and Bank of Ireland, one is slightly under and one is slightly over, but that does not take account of any...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Mr. Seamus McCarthy: There are many elements to it. On the retiring of the IBRC debt that the Central Bank is carrying, while it is a cost to the NTMA, it is generating a surplus for the Central Bank which will come back to the Exchequer. It will all be laid out in the chapter.
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Catherine Murphy: I do not understand something. According to the chart, the gross debt is largely unchanged since 2011. We had the IBRC legislation to turn it into sovereign debt in 2013, I think. When did it go on the balance sheet? Were the promissory notes always on the balance sheets?