Ms Ann Nolan:

Yes. It continues, "...indicated to NAMA its surprise at OCAG's lack of knowledge of the loan sales market and advised that they would greatly benefit from external advice". The meeting was a long meeting. It was very constructive, as Mr. Carville said. There was much discussion about loans processes. I mentioned on the previous day that Mr. Reid had much experience in loans processes, the types of sales one would do and the different types of processes. Following that meeting, Mr. Reid was speaking to NAMA, as he does every day, and expressed some opinion which is now being quoted back. However, it was not a formal opinion of the Department of Finance. It was just an opinion expressed by two people talking to each other.