Brian Lenihan Jnr (Dublin West, Fianna Fail)

-----but paying too little has its own consequences for the economy and this is not the time to expand our risks.

This limited allowance for long-term economic value will be de-risked. The Bill provides for part of the consideration for the assets transferred to be in the form of subordinated bonds, which puts the bank at risk if NAMA were to lose money - which is not our expectation - without giving them an upside in relation to its gains. In addition, we intend to introduce a levy if on the winding up of NAMA there were to be a deficit.

Finally, I should note that the State owns 100% of Anglo Irish and, currently, substantial economic interest in the two largest banks.

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