Pearse Doherty
Question:303. Deputy Pearse Doherty asked the Minister for Finance the par value and purchase value of the remaining loans at the National Asset Management Agency. [28884/15]
View answerTuesday, 14 July 2015
Questions (303)
Written answers
As set out in Note 19 of NAMA's Annual Report and Financial Statements for 2014, which is available on the NAMA website (https://www.nama.ie/about-us/publications/annual-reports/), the carrying value of NAMA's loans at end-2014 was €13.36 billion and the corresponding par/nominal value - that is the amount owed by borrowers - was €55.59 billion. These figures are also available on a quarterly basis in NAMA's section 55 report and accounts. The section 55 report for Q1 2015 will be published shortly.
Under IFRS accounting rules NAMA reports on the basis of carrying value, that is, the value of assets on its balance sheet at a given time rather than just the purchase/acquisition price. The carrying value reflects the loan acquisition prices and loan movements since acquisition, less impairment deemed to have occurred subsequent to acquisition. The disclosure of acquisition price of the residual loan portfolio would not be appropriate as it would be of commercial advantage to prospective acquirers of NAMA assets.