John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

I finally, I want to try to ... I have a question. It's a general NAMA question, not a specific one and I know I don't want to get into your own details but the banks valued loans on an amortised basis as they were originators of the loans and NAMA, on the acquisition of the loans, valued them on a fair or true market value basis. As a result, the aggregate loans came to be valued at €31.8 billion by NAMA in contrast to €74 billion value estimated by the banks. From your perspective, do you regard the valuation methodology applied in the pre-crisis period as having been sufficiently robust and representative?