Results 13,301-13,320 of 16,537 for speaker:Brian Lenihan Jnr

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Of course. We are having a highly democratic information flow here this afternoon.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: I am sure NAMA has been extraordinarily busy in recent weeks. I assume that is why it was not able to find time to meet Deputy Burton whenever she made here request.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: I assumed that to be the case. I am not saying I have any functions in regard to NAMA.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: With regard to Deputy Rabbitte's question on how information can be conveyed to the Labour Party, Fine Gael and Sinn Féin on the options, the outgoing chairman made himself available to the Oireachtas Committee on Finance and the Public Service last year.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: I am sure the bank is willing to make itself available to the committee or a sub-committee thereof to explore the options and discuss them in a rational, structured way. It is important that we minimise the cost of this operation to the taxpayer, and we all agree on that. It is subject to commercial considerations of great importance that the maximum amount of information is put in the...

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Does the Deputy mean Anglo?

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: It is on a statutory footing.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: There is a very large number of questions and I shall try to deal with them as they were posed. Deputy Barrett raised the whole issue of moral hazard, which is a serious question, I accept. However, to take the example of Anglo, as I have already outlined, the €70 billion relates to liabilities to the European Central Bank, to our own Central Bank, to depositors and to those who have...

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: There are a number of tranches, but the intention is to complete all tranches by the end of this year. That is what I am advised by NAMA.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: That is a matter for the finance committee. There seems to an assumption here that I will direct NAMA to do certain things. I presume NAMA will arrange to give a comprehensive briefing to the finance committee.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: There are powers in the legislation for the Oireachtas to summon NAMA before it, as the Deputy knows, but it should not come to that.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: I assume that NAMA will be anxious to give all the information possible to the committee.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Members of the House should be aware the Opposition was consulted about the appointments to the board of NAMA and had a real say and input in that regard.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Through the party leaders and——

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Fianna Fáil has no nominees on the board either. Persons were nominated to the board following a consultation process with the Opposition parties. I am sorry, but some of the names put forward by the Opposition parties were appointed to the board. This board is not acting in bad faith, and neither am I.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: The Deputy has made some big accusations today.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: We are in Dáil Éireann. As far as the statutory instrument Deputy O'Donnell referred to is concerned, it is SI 127 of 2010. It concerns guidelines issued under section 210(1) of the National Asset Management Agency Act regarding lending practices and procedures and relating to the review of decisions of participating institutions to refuse credit facilities. That is the statutory basis...

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: That is the statutory basis for the credit reviewer's role. Deputy English had a number of questions, and perhaps he might refresh my memory. I believe he was concerned, first, about the value of the haircut imposed by NAMA. Everyone has recognised——

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: He was concerned about the recoverability of NAMA's loans.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: It is clear from what NAMA has done to date that it has valued the loans at a very substantial discount, so it is making its own assessment about recoverability in that context.