David Cullinane (Waterford, Sinn Fein) | Oireachtas source

Yes R-115 B, page 3, 1h. It refers to NAMA's end of 2012 accounts which were audited by the Comptroller and Auditor General and published in May 2013 the approach adopted by NAMA was to discount all future cash flows at a discount rate of 10%, which was deemed an appropriate discount rate at the time. It does not go on to refer to something that is in today's opening statement, the fair value methodology that was adopted in 2013. What was in those accounts in 2013?