Finance Minister Paschal Donohoe has said he expects the National Treasury Management Agency (NTMA) to “monitor” the fallout from a Central Bank investigation into Davy that resulted in a record fine of 4, € 1 million for Ireland’s largest brokerage firm.
The NTMA recognizes Davy as one of the two main dealers in Irish government bonds and regularly uses the state’s largest securities firm as part of a consortium of investment houses to market large sales of ‘obligations.
“They make their decisions over who they deal with,” Donohoe told RTÉ Radio’s Morning Ireland on Wednesday, referring to NTMA. “I have no doubt at all that they will monitor the development of this matter.”
Mr Donohoe doubled down on his call on Tuesday for Davy to make a public statement on the investigation, saying the central bank fine and the announcement earlier today “reflect the gravity of the situation” and that Davy ” had to reflect on the statements of the Central Bank “.
The Central Bank fined Davy 4.1 million euros for a bond transaction where …
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