Dáil Éireann Debate, Thursday - 28 November 2013
61. Deputy Michael McGrath asked the Minister for Finance when he will be in a position to confirm if a payment by the State to the National Asset Management Agency is required on foot of the liquidation of Irish Bank Resolution Corporation; and if he will make a statement on the matter. [51280/13]
View answerThe requirement for a payment from the State to NAMA, if any, will only be known once the liquidation process is completed. I have been informed by the Special Liquidators that they fully expect to comply with the time lines set out by me, as Minister, namely that the valuation of IBRC’s loan assets be completed by 30 November 2013 and that the sale of IBRC assets is agreed or completed by 31 December 2013 or as soon as practicable thereafter. In October 2013, I approved the on-going redemptions of NAMA Senior Notes issued to Central Bank of Ireland to provide consideration for the acquisition of bank assets from the Central Bank of Ireland in accordance with the Irish Bank Resolution Corporation Act 2013. To the 15 November 2013, €425m had been redeemed.
