National Asset Management Agency

Dáil Éireann Debate, Thursday - 6 May 2010

Thursday, 6 May 2010

Ceisteanna (46)

Phil Hogan

Ceist:

44 Deputy Phil Hogan asked the Minister for Finance the properties in counties Waterford, Kilkenny and Carlow that have been transferred in the National Asset Management Agency; and if he will make a statement on the matter. [18515/10]

Freagraí scríofa

Minister for Finance (Deputy Brian Lenihan)

NAMA does not purchase property directly. NAMA purchases eligible loans from participating institutions and manages these loans with the intention of generating the best possible return for the taxpayer.

NAMA has the power to enforce security where a borrower whose loan has been transferred is in default. I am advised that to date there has not been enforcement of security by NAMA in respect of any loan.