Brian Cowen (Laois-Offaly, Fianna Fail)

It is important that we ensure we put in place the correct methodology for valuing the assets to be transferred. It is a key priority for Government to ensure we have a robust and consistent approach to valuation. The European Commission has provided guidance to member states on the treatment of impaired assets, including a detailed set of requirements for the valuation of such assets and, as set out in this guidance, the valuation of the assets transferred to NAMA will be certified by an independent expert and validated by the supervisory authority. The commission will have an expert valuation panel involving the European Central Bank to assess the valuation methods of all member states. We are working within the guidelines set out by the Commission with regard to impaired assets. A recognition-----

See this speech in context