NAMA Bonds

Dáil Éireann Debate, Tuesday - 21 May 2013

Tuesday, 21 May 2013

Questions (284)

Gerry Adams

Question:

284. Deputy Gerry Adams asked the Minister for Finance further to Parliamentary Questions Nos 48 and 49 on 9 of May 2013, if he will detail the type of asset class the other assets with a value of €370 million that are retained by the Central Bank of Ireland as consideration for the smaller amount of outstanding IBRC borrowing under the euro system’s main refinancing operation; if he will confirm whether NAMA through its ownership of the IBRC facility deed also has a charge over these €370 million of assets; if he will detail whether the Central Bank of Ireland intends to sell these assets; if he will confirm whether these assets, if intended for sale, shall be sold in an open market process with the appointment of an independent valuer and broker as per the IBRC assets; and if he will make a statement on the matter. [24321/13]

Written answers

Minister for Finance

As the Deputy may be aware, the Central Bank of Ireland does not disclose the type of assets used to collateralise Eurosystem Operations. The ECB eligible assets securing IBRC’s Main Refinancing Operation with the Eurosystem were realised by the Central Bank of Ireland in consultation with the ECB, with the value of collateral in excess of the borrowings being due back to IBRC. As these assets were realised by the Central Bank of Ireland and are no longer owned by IBRC, NAMA does not have a charge over these assets through its ownership of the IBRC Facility Deed. The investment policy of the Central Bank of Ireland and the manner of investments/divestments is a matter for the Central Bank and it would not be appropriate for me to comment in this regard.