Irish Sovereign Green Bonds Update

Household balance sheets: debt levels much lower coming into pandemic + new Covid savings Gross HH saving rates jumped 2020 on back of forced savings - IE larger than most 25 Legacy of 2008-12 financial crisis is on the Government balance sheet 400% 20 20 15 % of Disposable Income (4Q MA) اعد و S 0 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Ireland EA-19 UK 350% 300% 250% 200% 150% 100% 50% 0% Public and Private Private debt (% of Public debt (% of debt (% of GNI*) GNI*) GNI*) 2003 2008 2013 2020e Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Source: Eurostat, ONS, CSO; CBI, Note: Gross Savings as calculated by the CSO has tended to be a volatile series in the past, some caution is warranted when interpreting this data Note: Private debt includes household and Irish-resident enterprises (ex. financial intermediation) CBI quarterly financial accounts data used for household and CSO data for nominal government liabilities. 17

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