Batt O'Keeffe
Ceist:54 Mr. B. O'Keeffe asked the Minister for Finance if he will consider involving the National Treasury Management Agency in the co-ordination and management of departmental borrowing. [7624/95]
Written Answers. - Departmental Borrowing.
The National Treasury Management Agency was set up under the National Treasury Management Agency Act, 1990. The principal functions of the Agency are to perform, on behalf of the Minister for Finance, the functions of the Minister delegated to it by Order of the Government under section 5 of that Act. The functions that may be delegated to the Agency are those relating to borrowing and management of the National Debt. The National Debt is the biggest portfolio of debt in the State and it requires specific attention. The National Treasury Management Agency was set up for this purpose. The entire portfolio managed by the Agency consists of State debt.
My Department co-ordinates the borrowing activities of the NTMA and other public sector agencies involved in borrowing, such as the commercial semi-State bodies and the Intervention Agency. I issue formal guidelines to the NTMA and my Department seeks to influence the borrowing activities of the public sector bodies within that overall framework. The advice and expertise of the NTMA is already availed of by my Department in the performance of these functions, particularly in relation to the activities of the Intervention Agency.