Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Okay. Mr. Daly, you mentioned commercial property was basically NAMA is commercial property, the €74 billion, the majority of this is commercial property and you give a good breakdown in relation to where the institutions and the type of property that were held in Vol. 2, page 7. We have the consideration amount, the €32.4 billion that was paid and we can see very clearly that, for example, you paid over €3 billion for hotels, €14.9 billion for investment properties which are office blocks and retail I assume, €4.9 billion for residential and development property €1.5 billion and land €7.8 billion. Do we have a breakdown of the actual par value of this? What was the ... What I am trying to understand is what was the write-down for example in hotels, was it 57%, was it greater or was it less? You have talked to the committee about up to 90% write-down in land. Do we have any idea in terms of five categories there, what were the individual write-downs?

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