8 MFómh 2011, 12:49
The Joint Oireachtas Committee on Finance and Public Service continues its overview of the issues facing the economy and the banking system, tomorrow, 9th September when the chief executives of NAMA and the NTMA will appear before the Committee.
Committee Chairman, Alex White TD, said: “This meeting will provide members of the committee with an opportunity to question NAMA chief executive Brendan McDonagh and NTMA chief executive John Corrigan on the roles that both organisations currently play and will play in improving Ireland’s financial and economic fortunes.
The NTMA manages assets and liabilities on behalf of the Irish Government. Originally set up to borrow for the Exchequer and manage the National Debt, its remit has been expanded greatly and now includes the management of the National Pensions Reserve Fund, the National Development Finance Agency, the State Claims Agency and NAMA which acquires loans from Irish banks in return for government bonds, primarily with a view to restoring the banks’ balance sheets and thereby freeing up credit in the Irish economy.
It is clear that both organisations have massive roles to play in the financial and economic management of this country and therefore are in a unique position to provide an in-depth picture of the present condition of the Irish financial system. Our meeting with the CEOs tomorrow should add to our understanding of the issues facing our State.
Over the coming weeks, the Committee will continue its rigorous consultation process with all the main players in the field of domestic and European finance. The Minister for Public Expenditure and Reform, Brendan Howlin TD, and the heads of Bank of Ireland and AIB will also attend upcoming meetings.
The primary purpose of this series of meetings is that the members of the Joint Committee get an overview of the major issues facing the economy, so that members can focus on the specific areas it wishes to pursue as part of its Work Programme to the end of 2011.”
This meeting will take place tomorrow, Friday, 9th September, in Committee Room 4, Leinster House 2000 at 10 am.
Committee proceedings can be followed live at:
http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee Membership
Deputies
Richard Boyd-Barret, People Before Profit
Thomas P. Broughan, Labour Party
Michael Creed, Fine Gael
Jim Daly, Fine Gael
Pearse Doherty, Sinn Fein
Stephen Donnelly, Independent
Sean Fleming, Fianna Fail
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Kevin Humphreys, Labour Party
Peter Mathews, Fine Gael
Mary Lou McDonald, Sinn Fein
Michael McGrath, Fianna Fail
Olivia Mitchell, Fine Gael
Seán Ó Fearghaíl, Fianna Fail
Jonathan O’Brien, Sinn Fein
Kieran O’Donnell, Fine Gael
Arthur Spring, Labour Party
Billy Timmins, Fine Gael
Liam Twomey, Fine Gael
Alex White, Labour Party
Senators
Sean D Barrett, Independent
Thomas Byrne, Fianna Fail
Michael D’Arcy, Fine Gael
Aideen Hayden, Labour Party
Tom Sheahan, Fine Gael
Katherine Zappone, Independent