1. Background

The National Treasury Management Agency (the "Agency”) is a state body established under the National Treasury Management Agency Act, 1990. The Agency provides asset and liability management services to Government. Its purpose is to manage public assets and liabilities commercially and prudently. The NTMA operates across five separate business units; Funding and Debt Management, the State Claims Agency ("SCA"), NewERA, the Ireland Strategic Investment Fund ("ISIF") and the National Development Finance Agency ("NDFA"). It also assigns staff and provides business and support services and systems to the National Asset Management Agency ("NAMA") and the Strategic Banking Corporation of Ireland ("SBCI"). Both NAMA and the SBCI are independent entities and have their own separate boards.

< ALL NOTES

NOTE 2 >