Written answers
Tuesday, 5 April 2011
Department of Finance
National Treasury Management Agency
3:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 88: To ask the Minister for Finance if he will confirm the overall amount of money currently managed by the National Treasury Management Agency through the various State savings products; if he will provide a breakdown of the overall amount by the type of product, savings bonds, savings certificates, national solidarity bond and so on; the way the money is managed; and if he will make a statement on the matter. [6589/11]
Michael Noonan (Limerick City, Fine Gael)
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State Savings is the brand name used by the National Treasury Management Agency (NTMA) for the range of savings products offered by the NTMA to personal savers. I understand from the NTMA that, at end-March 2011, the amount being saved in State Savings products was €13.4 billion. This is held in the various savings products as set out in the table.
€ million | |
Prize Bonds | 1,392 |
3-year Savings Bond | 4,548 |
4-year National Solidarity Bond | 37 |
51⁄2-year Savings Certificate | 4,114 |
10-year National Solidarity Bond | 402 |
Instalment Savings | 474 |
Deposit Accounts | 2,455 |
Total | 13,422 |
In relation to the Deputy's query about the management of the money in State Savings, the proceeds are used to fund the Exchequer and form part of the National Debt.
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