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Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: What does Mr. McDonagh expect the level of impairment to be by 2020? Factoring in the impairment charge, what discount has been applied to the loans transferred from the financial institutions?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: The loan portfolio is approximately €26 billion gross.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: Therefore, the impairment figure is approximately €3.3 billion.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: How will the profile of the impairment coverage rate develop between now and 2020?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: I do not know which hotel he stayed in, but it obviously was not a NAMA hotel. NAMA was established for the purpose of getting credit flowing again, to take pressure off banks' balance sheets and provide a structure to get the economy moving. I will deal in my questions with the reasons for the establishment of NAMA and its achievements to date. I am asking questions from the point of view...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: The gross loan book could be even higher.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: NAMA is enormous. On the Irish property landscape it is like an ocean liner with small boats circling around it. I wish to deal with the issue of performing loans. When was NAMA established?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: If the banks do not deal with the mortgages in what Professor Honohan regards as a sustainable way, how quickly will he impose the extra reserve targets provisions, as set under the resolution targets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: What about the targets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: Pray tell.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: How quickly will the Central Bank make life quite difficult?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: The Irish taxpayer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: A specific question, Deputy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: In paragraphs 2.4 and 6.1 of the mortgage arrears resolution targets, the Governor makes specific reference to the fact that the Central Bank can impose more severe reserve requirements if the banks do not comply with the targets. That is the question Deputy Spring has asked. Would Professor Honohan address that specific point?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: Time, Deputy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: I suggest the Senator ask a question, after which she can interact with the Governor.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: I am trying to be helpful.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: I suggest Professor Honohan revert to the joint committee on the issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: That question concerned the split mortgages and the fact that Bank of Ireland are charging commercial rates.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Kieran O'Donnell: It was new evidence.

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