Dáil Éireann Debate, Wednesday - 10 March 2010
78 Deputy Thomas P. Broughan asked the Minister for Finance the position regarding the timeline for transfer of loans to the National Asset Management Agency; and if he will make a statement on the matter. [11627/10]
Amharc ar fhreagraNAMA has advised me that the process of transferring the eligible loans of participating institutions to NAMA should commence this month with the transfer of the first tranche, which has a nominal value of approximately €17 billion. Moreover, NAMA has also advised me that the transfer process is targeted for completion by the final quarter of the year.
79 Deputy Arthur Morgan asked the Minister for Finance the start date for National Asset Management Agency acquiring loans in view of the fact that the first round of loans will entail the top ten developers with the largest relative percentage of loans; if the Houses of the Oireachtas will have some oversight into this initial business; and if he will make a statement on the matter. [11446/10]
Amharc ar fhreagraNAMA has advised me that the process of transferring the eligible loans of participating institutions to NAMA should commence this month with the transfer of the first tranche, which has a nominal value of approximately €17 billion. Moreover, NAMA has also advised me that the transfer process is targeted for completion by the final quarter of the year. As regards Oireachtas oversight of NAMA, I would point out that the first quarterly report of NAMA in respect of the quarter ending 31 March 2010 will be submitted to me on or before 30 June 2010 and will be laid before the House. Also, Section 59 of the NAMA Act makes provision for the Chairperson and CEO of NAMA to appear before a Committee of the Oireachtas to examine matters relating to NAMA if requested to do so.
