Catherine Murphy (Kildare North, Social Democrats)
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I am sorry I was not here earlier; the timings just did not work out. I noticed something in Mr. McDonagh's statement that always grates with me, as I have said on several occasions. I refer to the word "profit". I appreciate that NAMA ended up with portfolios on which there had been great discounts. I believe the Comptroller and Auditor General said the outlay was €74.4 billion and that NAMA received the assets for €31.8 billion. I would say we are talking about a "surplus" rather than a "profit" given that the public took a hit of €40 billion. That is important to note.

The par value for the assets relating to Project Nantes was somewhere in the region of €306 million. Is that correct?