Ms Ann Nolan:

I know I definitely explained on the last day that we did not have access to details of the portfolios that NAMA had, and I explained this again to Deputy McDonald this morning, and therefore we could not make an assessment, and it would have been improper of us to get involved. The NAMA Act does not allow us to get involved in individual sales. That is entirely a matter for the NAMA board as set out under section 9; that is why the board is appointed. We would look at whether it was selling down its portfolios fast enough and whether we were going to get our money back but we did not look at each individual loan sale and say that this one is okay. If I ever gave that impression, I never meant to.