13 Mar 2012, 17:21
Frank Daly, Chairman, and Brendan McDonagh, Chief Executive Officer, National Asset Management Agency will discuss the operations and functions of the agency at the meeting of the Committee on Finance, Public Expenditure and Reform tomorrow, 14th March.
Committee Chairman, Alex White TD said: “NAMA functions as a bad bank, acquiring property development loans from Irish banks in return for government guaranteed bonds with a view to restoring the banks’ balance sheets and thereby freeing up credit in the Irish economy. It has acquired loans of €72.3 billion from participating financial institutions. It is clear that NAMA has a massive role to play in the financial and economic management of this country. This meeting will provide members of the committee with an opportunity to question the chairman and chief executive of NAMA on its operations and functions. Among the issues to be raised will be NAMA’s most recent quarterly report and accounts, while concerns surrounding the recovery of the long-term value of assets, the percentage of NAMA loans that are performing and payments to developers whose assets have been taken over by NAMA are likely to feature at tomorrow’s meeting.”
This meeting will take place tomorrow, Wednesday, 14th March, in Committee Room 4, Leinster House 2000 at 2pm.
Committee proceedings can be followed live at:
http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee Membership
Deputies
Richard Boyd-Barrett, People Before Profit
Thomas P. Broughan, Labour Party
Michael Creed, Fine Gael
Jim Daly, Fine Gael
Pearse Doherty, Sinn Fein
Stephen Donnelly, Independent
Sean Fleming, Fianna Fail
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Kevin Humphreys, Labour Party
Peter Mathews, Fine Gael
Mary Lou McDonald, Sinn Fein
Michael McGrath, Fianna Fail
Olivia Mitchell, Fine Gael
Seán Ó Fearghaíl, Fianna Fail
Jonathan O’Brien, Sinn Fein
Kieran O’Donnell, Fine Gael
Arthur Spring, Labour Party
Billy Timmins, Fine Gael
Liam Twomey, Fine Gael
Alex White, Labour Party
Senators
Sean D Barrett, Independent
Thomas Byrne, Fianna Fail
Michael D’Arcy, Fine Gael
Aideen Hayden, Labour Party
Tom Sheahan, Fine Gael
Katherine Zappone, Independent