Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

NAMA expects that its deleveraging work will be completed by 2018. Its focus over the period from 2018 to 2020 will be on the completion of the docklands residential funding programme. As I have said, NAMA is in a position to fully pay all of its senior bonds. It also expects to pay its subordinate debt in full by 2020. In light of the extensive work and challenges that face NAMA over the coming years, I have no plans to formally expand the role of the agency beyond its current remit. It is also too early to speculate whether NAMA will have made sufficient progress on its various strategies to warrant consideration of its dissolution in advance of 2020, which is the date that was originally envisaged. We are leaving 2020 there as the relevant date. Perhaps NAMA will make more rapid progress than we envisage. I would like it to complete two important economic and social projects - the strategic development zone in Dublin and the house-building programme - that will stretch out for five years after its deleveraging work has been completed satisfactorily.

See this speech in context