Vol. 530 No. 6
186 Mr. Haughey asked the Minister for Finance the authorities, agencies, organisations and institutions established by legislation which are ultimately accountable to his Department and which deal with issues which were once the responsibility of his Department; the year of their establishment; the most recent annual budget of each body; and if he will make a statement on the matter. [4567/01]
There are two bodies which fall fully within the scope of the Deputy's question.
The Central Bank was established under the Central Bank Act, 1942. According to its 1999 annual report, the Central Bank's total operating costs in 1999 were 38.6 million euros. The bank's profit before unrealised gains in 1999 was 248 million euros, of which 213.4 million euros were remitted to the Exchequer.
The National Treasury Management Agency was established in 1990 under the National Treasury Management Agency Act, 1990. Its principal function is to manage the national debt on behalf of the Minister for Finance. The chief executive officer of the agency is directly responsible to the Minister for the performance of the functions of the agency.
The operating expenses of the NTMA are met directly from the central fund and comprise part of the debt service budget. The agency's expenses in the year 2000 amounted to £6.3 million. Its estimated expenses for the year 2001 are £10.5 million. More than £3 million of these costs represent expenditure on new functions which have been allocated to the agency, that is, management of the national pensions reserve fund, the State claims agency and the central treasury service.
