I propose to take Questions Nos. 61 and 63 together.
I have been informed by NAMA that of the estimated €3.5 billion of par value loans acquired by NAMA for nil consideration €2.5billion was acquired from Anglo Irish Bank, €0.7 billion from Allied Irish Banks, €0.2 billion from Irish Nationwide Building Society, €0.1 billion from Bank of Ireland and €0.03 billion from the Educational Building Society.
I have been informed by NAMA that it acquired the €3.5 billion of loans for nil consideration in accordance with the defined valuation methodology which was agreed with the EU Commission. In accordance with this methodology where the security is not enforceable or the loans were unsecured, or the security was assessed to be defective no consideration was paid for the loans. NAMA is not subject to the regulation of the Central Bank of Ireland/Financial Regulator, however the acquisition of the loans by NAMA was reviewed by the Comptroller and Audit General who reported on the matter in its Special Report on NAMA dated October 2010, which is available on the NAMA website, www.nama.ie. I am not aware of any investigation into this matter by the Central Bank of Ireland/Financial Regulator in respect of the originating banks that issued the loans.
