It was established on 1 December 1990 to borrow for the Central Fund and manage the national debt.
Since then it has been expanded greatly, for example it now manages the National Pensions Reserve Fund and acts as Ireland's agent for the purchase of carbon credits.
Following the RTÉ secret payment scandal, the Government of Ireland agreed to add RTÉ to the list of commercial State sector companies subject to the formal oversight of the National Treasury Management Agency (NTMA)’s NewEra unit.
The NTMA also handles[2] the €8.1 billion Ireland Strategic Investment Fund (ISIF; Irish: An Ciste Infheistíochta Straitéisí d’Éirinn, GBCN),[3] a sovereign wealth fund established on 22 December 2014.
[4] Formed using the remaining assets of the National Pensions Reserve Fund, ISIF has a statutory mandate to invest in a fashion designed to support Ireland's employment and economic activity.