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Exchequer Funding Needs and Sources

Opening (End-2017) Exchequer Cash & Other Liquid Assets Balance1 (A) 10.5
2018 Funding Requirements
Exchequer Borrowing Requirement (EBR) -2.3
Bond Maturities3 -8.9
Other 4 -4.0
TOTAL (B) -15.1
2018 Funding Sources
Government Bonds5 16.0
Other6 0.8
TOTAL (C) 16.8
Projected Closing (End-2018) Exchequer Cash & Other Liquid Assets Balance1 (A+B+C) 12.2

Figures are estimates, as of January 2018.
Rounding may affect totals.


1. Excludes non-liquid financial asset classes such as Housing Finance Agency (HFA) Guaranteed Notes and CSA Collateral Funding.

2. Department of Finance Budget 2018 estimate.

3. Includes Amortising Bonds.

4. Includes general contingencies, and provision for potential bond purchases and short-term paper outflows.

5. In its 2018 Funding Statement, the NTMA announced plans to issue €14 – €18bn of Government bonds in 2018; €16bn is used as an indicative amount in this presentation.

6. Includes net State Savings (Retail), and other Medium/Long-Term funding.