Mr. Donal Rooney:

In essence the Comptroller and Auditor General had relied on a 5.5% discount rate and NAMA says that in order to arrive at a proper work out value against which the sale price would be benchmarked a minimum discount rate of 10% would be used. The 5.5% discount rate is NAMA's standard discount rate. It is not put forward as a discount rate to be used across all transactions. It would not make commercial sense to have one discount rate used across all transactions because all transactions are different. What does the discount rate do-----