Oireachtas Joint and Select Committees
Thursday, 6 October 2016
Public Accounts Committee
Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)
11:00 am
Michael Noonan (Limerick City, Fine Gael)
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No. Will the Deputy wait until I finish?
When negative interest rates came in across Europe, I issued a directive to NAMA to enable it to change the interest rate basis and introduce a zero-rate interest rate. We can give the Deputy a note on that. That is the kind of primary policy position on which I and my predecessor, Brian Lenihan, issued directions. I understand there have been six directions since the NAMA Act came in.