National Asset Management Agency

Dáil Éireann Debate, Tuesday - 19 June 2012

Tuesday, 19 June 2012

Questions (122)

Pearse Doherty

Question:

203 Deputy Pearse Doherty asked the Minister for Finance if he will provide the cash balances, by currency including sterling, at the National Asset Management Agency prior to the temporary funding of the IBRC promissory note on 3 April 2012; if he will confirm if foreign currency was exchanged into euros in order to finance the transaction; if so, the exchange rates and transaction costs that applied to any exchanges; and if he will make a statement on the matter. [29556/12]

Written answers

Minister for Finance (Deputy Michael Noonan)

I am advised by NAMA that the IBRC-NAMA short-term financing transaction was funded by the Agency from its Euro Cash Balances. Prior to the short-term financing NAMA had a Euro cash balance of c. €4.5 billion. NAMA had small non-euro cash balances of less than €60 million.