The National Treasury Management Agency

The National Treasury Management Agency (NTMA) provides a range of financial and risk management services to Government. These services include borrowing for the Exchequer and management of the National Debt, the State Claims Agency, the New Economy and Recovery Authority (NewERA), the National Pensions Reserve Fund (NPRF), the National Development Finance Agency (NDFA) and the National Asset Management Agency (NAMA).

• Funding and Debt Management: the NTMA is responsible for borrowing on behalf of the Government and managing the National Debt in order to ensure liquidity for the Exchequer and to minimise the interest burden over the medium-term.
• State Claims Agency: the State Claims Agency manages personal injury, property damage and clinical negligence claims brought against certain State authorities, including Government ministers and health enterprises. It also has a risk management role, advising and assisting State authorities in minimising their claim exposures.
• National Pensions Reserve Fund: the NTMA is Manager of the National Pensions Reserve Fund which was established with the objective of meeting as much as possible of the costs of social welfare and public service pensions from 2025 onwards when these costs are projected to rise significantly due to population ageing. The Fund’s legislative remit was extended in 2009 and 2010 to allow the Minister for Finance to direct the NPRF Commission, which is responsible for the control, management and investment of the assets of the Fund, to invest in credit institutions in certain circumstances and in Government and Government-guaranteed securities and to make payments to the Exchequer to fund capital expenditure in the years 2011 to 2013.
• National Development Finance Agency: The National Development Finance Agency is the statutory financial advisor to State authorities in respect of all public investment projects with a capital value over € 30 million. It also has full responsibility for the procurement and delivery of Public Private Partnership (PPP) projects in sectors other than transport and the local authorities.
• National Asset Management Agency: the National Asset Management Agency was established in 2009 as part of a range of measures introduced by the Government to safeguard the viability of a number of systemically important financial institutions. It has acquired certain loan assets (land and development and associated loans) in exchange for Government-guaranteed securities issued directly to the institutions. Its mandate is to manage acquired assets to obtain the best achievable financial return for the State.
• NewERA: In September 2011 the Government announced the establishment, initially on a non-statutory basis, of NewERA within the NTMA. NewERA will centralise the management of Government holdings in the commercial semi-state sector from a shareholder perspective (initially the companies within NewERA's remit are ESB, EirGrid, Bord Gáis, Bord na Móna and Coillte). This role involves oversight of activities such as capital expenditure plans, corporate strategy, acquisitions and disposals. NewERA is also charged with assisting the development and implementation of Government plans for investment in energy, water and next-generation telecommunications. NewERA will, where requested by Government, carry out advisory and oversight roles in relation to the possible restructuring or disposal of commercial semi-state company assets as required under the EU/IMF programme.

The National Pensions Reserve Fund, the National Asset Management Agency and the National Development Finance Agency each has its own board. The NTMA has an Advisory Committee to assist and advise on such matters as are referred to the Committee by the NTMA.