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Tuesday 31 January 2023 Dublin: 7°C


All time
# Fraud
NTMA Chief says State Street "perpetrated a fraudulent act"
State Street said the individuals involved in improperly taking commission are no longer with the company.
# Markets
Ireland's cost of borrowing drops as another €500 million is raised
Today’s T-Bills auction was oversubscribed.
# Credit Ratings
Fitch takes Ireland's credit rating off 'negative' watch list
Ireland’s credit rating is still only BBB+, but Fitch says it’s no longer expecting to downgrade us again.
# Testing the Waters
Ireland to go back to the markets again
The auction of T-Bills is set to raise another €500 million.
# Exchequer Returns
Exchequer returns show €2.9 billion deficit due, in part, to payment to the ESM
Spending at the Department of Social Protection was more than expected, whereas the Department of Jobs, Enterprise and Innovation continues to underspend.
# Markets
Ireland's cost of borrowing stable as €500 million raised on markets
The auction was oversubscribed and the cost of borrowing remained at 0.7 per cent.
# Return of the Bond
Ireland to raise €500 million on bond markets
The auction will be Ireland’s fourth since the bailout programme was initiated in November 2010.
# Bond Markets
Bond auction sees Ireland’s cost of borrowing fall dramatically
The NTMA successfully raises €500 million at a cost far lower than two months ago.
# Markets
NTMA chief: It's looking good for 'sustainable' re-entry to markets
However, John Corrigan does warn that “wider uncertainties” in the eurozone could be risk factor to Ireland’s progress.
# Bond Auction
NTMA to raise another €500m on bond markets this week
The treasury agency will auction €500 million of three-month bills on Thursday.
# Bonds
Irish 9-year bonds fall below 6% for the first time since 2010
Bond yields have fallen to their lowest rate since 19 October 2010, when Ireland entered into a bailout agreement with the EU/IMF.
# Bonds
Irish bond auction welcomed but 'country is still on life support'
The NTMA auctioned over €4 billion in Irish bonds yesterday in the first long-term debt sale since the bailout.
# Bond Markets
Ireland raises €4.19 billion in first return to bond markets
Investors were willing to give us €4.19 billion in loans maturing in 2017 and 2020 – but they come at a cost.
# return to markets
At least 3 more bond auctions before year end, says NTMA
National Treasury Management Agency sets out its roadmap for bond auctions over the next 18 months.
# In Numbers
Cannabis, beer and T-bills: the week in stats
How high is Europe’s tallest building? And how many cannabis plants were seized by gardaí last year?
# Transparency
Friday Dáil sees bipartisanship as Govt supports FOI legislation
The Fianna Fáil-proposed legislation would see the Central Bank, NAMA and the Gardaí brought under the scope of the Freedom of Information Act.
# Debt
Ireland's €500m government debt sale goes better than expected
Minister for Finance welcomes auction of Treasury Bills which fetched a 1.8 per cent yield.
# Markets
Ireland returns to the markets today - here's what you need to know
The NTMA is set to try and raise money for the first time since Ireland was bailed out, with a €500m debt auction.
# Bond Auction
Back to the markets: Ireland to offer €500 million of three-month bills
The first auction will be held on Thursday.
# Starter's Orders
Ireland still planning to issue short-term bonds this summer
The NTMA says it wants to get back to issuing some bills ‘during the summer months’ to warm up for full re-entry.
# Prize Bonds
8 things you (probably) didn’t know about Prize Bonds
Yes, they’re still around – and we keep selling more and more of them every year.
# Rainy Days
Noonan: €1.2 billion of pension reserves already committed
That leaves about €4.5 billion in the pot.
# Accounting Error
PAC chair blasts “whitewash” report into €3.6bn accounting error
Both internal and external reports on the accounting mistake were discussed at the Dáil’s Public Accounts Committee.
# Accounting Error
Finance chief to meet with PAC over €3.6bn accounting error
Two leaked reports into the €3.6 billion discrepancy in the government’s debt figures have recommended that statistics be compiled by the Central Statistics Office and not the Department of Finance.
# Accounting Error
Report on €3.6 billion accounting error may be published next week
Both an internal investigation and external review have been completed, with Michael Noonan now left to seek government approval.
# Bankers' Pay
1,065 top bankers earn basic salary over €100K
Hundreds of bankers in AIB, Permanent TSB – all essentially State-owned institutions – are taking home basic salaries in excess of €100,000.
# Bond Markets
Back to the markets: NTMA prepares to issue annuity bond
The National Treasury Management Agency will sell annuity bonds, possibly up to 35 years in maturity, later this year.
# pay cut
NTMA management agree to 15 per cent pay cut
However, one senior employee at the State agency refused to accept the reduction.
# Ni hao
NTMA signs partnership with Chinese government's investment fund
The agency which manages Ireland’s national savings will help China identify opportunities to invest in Irish businesses.
Gardaí and banks should be more transparent - Ombudsman
Emily O’Reilly said the gardaí, Nama and State-owned financial institutions should all be made subject to Freedom of Information laws.
# Debt Collection
NAMA architect fears agency's pursuit of debts is "not sufficient"
Peter Bacon, who is credited with coming up with the idea for NAMA, says the agency’s debt pursuits are too narrow-minded.
# Banking Crisis
Banking crisis: Central Bank paid out €30m in consultancy fees in 2011
Law firm Arthur Cox seems to be the big winner in terms of consultancy contracts with the Central Bank, NTMA and Department of Finance.
# Back to Life
Ireland plans to return to bond markets this year
The NTMA’s John Corrigan reveals that Ireland will stage a “phased re-entry” with the sale of short-term bonds this year.
# Kevin Cardiff
Cardiff could go back to old job - but has one day to apply
The post of Secretary-General at the Department of Finance requires “effective management” and “excellent co-ordination” with key agencies such as… the NTMA.
# budget leaks
Budget leaks: State asset sell-off may not yield money for job creation
The government has said publicly it wants to use State asset sell-off revenue for job creation but confidential documents paint a different picture.
# Your Say
Poll: Do you think the €3.6bn accounting mistake is a big deal?
The fallout of the accounting blunder revealed by TV3 last week rumbles on for the head of the Department of Finance. Do you think we need to get over it – or should heads roll?
Column: What The Finance? Heads should roll over €3.6bn gaffe
Fine Gael TD Eoghan Murphy was at the Public Accounts Committee meeting on Thursday when the Department of Finance explained how its accounting mistake happened – and he’s gobsmacked.
# Accounting Error
Dept of Finance, CSO and NTMA officials face questioning over 'accounting error'
The department’s secretary-general, due to take up a position with an EU fiscal watchdog next year, is to appear before the PAC today.