Brian Hayes (Dublin South West, Fine Gael)

I thank Deputy Timmins for his observations. His fundamental question is on whether undervalued loan books are being sold on. It is a question of what constitutes market value at present. With regard to Anglo Irish Bank and Allied Irish Banks, which are in or close to full public ownership, these are matters that we can consider.

The responsibility of NAMA is to ascertain the best possible market price for assets under its jurisdiction. NAMA representatives have appeared before committees of this House to answer questions from Deputies in this regard. I will raise the matter with the Minister for Finance to determine whether further information can be given to Deputy Timmins. He makes the point that this is a subjective view. People have obviously spoken to him about this.

The fundamental issue for banks in full private ownership is their responsibility to their shareholders. With regard to the two banks Deputy Timmins mentioned, which are effectively in public ownership, there are public interest directors whose responsibility is to safeguard the interests of the taxpayer. I will ascertain whether the Minister for Finance can make a statement in connection with the information just given to the House.

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