The National Treasury Management Agency (NTMA) issued eight new Floating Rate Treasury Bonds to the Central Bank of Ireland (CBI) on 8 February 2013 to replace the Promissory Notes previously held by Irish Bank Resolution Corporation (IBRC). The bonds have maturities ranging from 25 to 40 years and pay interest every six months, in mid-June and in mid-December, based on the six-month Euribor interest rate plus an interest margin which averages 2.63% across the eight issues. Details of the interest margin applying to each of the eight Treasury Bonds are as follows: Treasury Bond 2038 - interest margin 2.50%; Treasury Bond 2041 - interest margin 2.53%; Treasury Bond 2043 - interest margin 2.57%; Treasury Bond 2045 - interest margin 2.60%; Treasury Bond 2047 - interest margin 2.62%; Treasury Bond 2049 - interest margin 2.65%; Treasury Bond 2051 - interest margin 2.67%; Treasury Bond 2053 - interest margin 2.68%; Total cash interest on the floating rate bonds in 2013 was just under €0.65 billion.