Oireachtas Joint and Select Committees
Thursday, 10 November 2016
Public Accounts Committee
Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)
9:00 am
Mr. Seamus McCarthy:
Could I point out that the figure of 10% was not a discount rate. It was a discount on the value of the collateral. It was basically like saying that if a property in the market has a value today of €100 million, somebody buying the loan associated with that would only give €90 million for the loan because-----
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