Tuesday, 10 July 2012

Ceisteanna (126)

Pearse Doherty

Ceist:

137 Deputy Pearse Doherty asked the Minister for Finance, further to Parliamentary Question No. 207 of 3 July 2012, the reason the National Asset Management Agency has redeemed senior debt from Permanent TSB since this organisation is not a NAMA participating institution. [33728/12]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Minister for Finance)

The recent NAMA Senior Bond redemption was carried out on a pro-rata basis, whereby a proportion of each institution's share of NAMA Senior Bonds was repaid. The NAMA Senior Bonds held by Permanent TSB were received in February 2011 as part of the transfer of the former INBS deposit book to PTSB under the transfer order issued by the previous Minister for Finance. As set out in the transfer order, the deposit book and corresponding assets (including € 2.89 billion of NAMA Senior Bonds) transferred to NAMA at that time. Previous to the most recent bond redemption PTSB held € 2.77 billion and following this redemption PTSB hold € 2.575 billion of NAMA Senior Bonds.

The text of the transfer order and other details are available on the Department of Finance website: www.finance.gov.ie.