Dáil Éireann Debate, Tuesday - 29 September 2015
257. Deputy Michael McGrath asked the Minister for Finance the outstanding book-value of the National Asset Management Agency loans; the original face value of these loans; his plans for their disposal; and if he will make a statement on the matter. [33166/15]
Amharc ar fhreagraI am advised that, at 31 March 2015, NAMA's carrying value of loans, net of cumulative impairment provisions of €3.250bn, was €12.528 billion and the nominal amount of contractual par debt outstanding from NAMA debtors was €54.899 billion. This information and additional information on the value and performance of NAMA loans is included in NAMA s Section 55 quarterly accounts, which are published on NAMA s website, www.nama.ie.
NAMA is aiming to redeem a cumulative 80% (€24 billion) of its senior debt by the end of 2016 and expects that it will have redeemed all of its senior debt by the end of 2018. Plans for the disposal of loans are a matter for the NAMA Board. It is NAMA policy that sales are openly marketed and NAMA's overall commercial mandate is to maximise return to the taxpayer.
