NAMA CEO and Chairman to appear before Finance Committee

Liam Twomey, TD, Chairman of the Committee on Finance, Public Expenditure and Reform, said: “This is the first opportunity for the Committee to meet with Mr Daly and Mr McDonagh since the Agency’s mid-term review under Section 227 of the NAMA Act to assess the extent to which NAMA has made progress toward achieving its overall objectives.

“Essentially, NAMA functions as a bad bank, acquiring property development loans from Irish banks in return for government guaranteed bonds with a view to restoring the banks’ balance sheets and thereby freeing up credit in the Irish economy.

“Tomorrow we will have a chance to get an up to date overview and functioning of NAMA’s operations and the performance of the assets under its control.”

This meeting will take place at 2pm on Wednesday, 22nd October 2014 in Committee Room 4.

Committee proceedings can be followed live here.

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Media Enquiries to:

Ciaran Brennan,
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Committee Membership

Deputies

Richard Boyd-Barrett, People Before Profit
Michael Creed, Fine Gael
Pearse Doherty, Sinn Fein
Regina Doherty, Fine Gael
Stephen Donnelly, Independent
Timmy Dooley, Fianna Fáil
Alan Farrell, Fine Gael
Sean Fleming, Fianna Fáil
Simon Harris, Fine Gael
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Mary Lou McDonald, Sinn Fein
Ciarán Lynch, Labour Party
Michael McGrath, Fianna Fáil
Dara Murphy, Fine Gael
Kieran O’Donnell, Fine Gael
Ciara Conway, Labour
Pat Rabbitte, Labour
Arthur Spring, Labour Party
Brian Stanley, Sinn Féin
Liam Twomey, Fine Gael

Senators

Sean D Barrett
Thomas Byrne
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Tom Sheahan