Dáil Éireann Debate, Wednesday - 30 April 2014
61. Deputy Michelle Mulherin asked the Minister for Finance if he will confirm that all loans taken over by the National Asset Management Agency have been audited by the European Commission in relation to acquisition values; and if he will make a statement on the matter. [18813/14]
View answerAs the Deputy will be aware, as part of the EU State aid approval process for the NAMA Scheme, which was approved by the Commission on 26 February 2010, the Irish authorities committed to notify each tranche of transferred bank assets to the Commission under EU State aid rules. Tranche 1 (N331/2010) and Tranche 2 (N529/2010) of the NAMA loans were approved by the European Commission in 2010.
In September 2010, it was agreed to expedite the final tranches. I am advised by my officials that a report was submitted on Tranches 3-9 to the European Commission on the 4 April 2014 and we are awaiting their decision on the matter. I do not envisage any issues with the approval process.
