Dáil Éireann Debate, Thursday - 14 February 2013
158. Deputy Michael McGrath asked the Minister for Finance the implications, if any, for the operation of the National Asset Management Agency SPV arising from the Irish Bank Resolution Corporation liquidation; and if he will make a statement on the matter. [8046/13]
View answerAs the Deputy may be aware, between now and August of this year, the Special Liquidator will seek to value and sell certain IBRC loans. After this sales process has been completed, NAMA will acquire the residual unsold loans in the IBRC loan portfolio at a price which is to be determined by the Special Liquidator. However NAMA’s primary commercial objective, as set out in Section 10(2) of the Act, is to obtain the best achievable financial return for the State having regard to the cost of acquiring and dealing with bank assets and its own cost of capital and other costs.
I have no reason to doubt the Agency’s view that it will achieve its targets over its lifetime.
