Michael McGrath (Cork South Central, Fianna Fail)
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44. To ask the Minister for Finance the National Asset Management Agency's current estimated cost of funds; and if he will make a statement on the matter. [10745/14]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that its cost of funds is currently less than 2.0% per annum. NAMA s cost of funds derives from both the interest cost on its debt securities (senior and subordinated) and its interest rate hedging cost. NAMA has entered into interest rate hedging which acts as an insurance mechanism to hedge its interest expense against interest rate increases over its lifetime. NAMA s cost of funds will vary over its lifetime, depending on the mix of its liability base, the associated costs of these liabilities and its hedging strategy.