Results 1,921-1,940 of 15,555 for speaker:Eoghan Murphy
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: I will return to the detail of the portfolio. We face a 50% repayment by 2016 and 80% by 2017.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: In the schedule I have it is 2017, with 95% in 2018.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Even if it is 80% by 2018, it is a leap. It is a lot to achieve in two years - it is 30% in two years versus 50% in six years.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: If we look at the first 25%, and I will return to that in detail, the bulk of it has come from overseas. However, that 30% in two years will have to come almost exclusively from the Irish market.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: It is still a huge disposal on the market even in a two-year period. It has an impact on the market.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: When the board creates these management plans and revises repayment schedules, does it need approval from the Minister or can it do that independently?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Must he approve that strategy?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Turning to the €7.5 billion figure for the end of this year, which is the 25%, will Mr. McDonagh give a breakdown of that in respect of commercial versus residential?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: What about in terms of the overseas market versus the Irish market?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: When Mr. McDonagh appeared before the committee a year ago he spoke about a change in the portfolio in terms of estimated valuation. He spoke about the overseas market being up 10% while the Irish market was down 20%. Does he still estimate that the Irish market is down 20%?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: The blended basis takes into account the decrease in the Irish market.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Is Mr. McDonagh talking in terms of sales?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: That is different from what we get in terms of the value on the books, which is probably a bit more important in the longer term.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: We have realised the bulk of that 25% of the first bond repayment through UK sales. That is an increase on our valuation of them when we first took over the loans. Is that correct? Is it about 10% or are they overseas?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Has the bulk of that 25% come from the overseas market?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: And the overseas market is about 10%.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: The Irish portion is still down 20% on what was paid in November 2009. When we look ahead to next repayment target, the bulk of the first 25% came from overseas, and that was up, while with the next 25%, we cannot dip into the overseas market to achieve the target and the Irish market is down.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Those impairments are against Irish assets.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: But those impairments increase each year.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: When Mr. McDonagh looks forward to 2015 and the next repayment, by which time we are meant to achieve a further 15%, and we are looking at overseas assets of €9 billion and assets in Ireland of €12 billion, is NAMA planning to achieve that 15% by releasing the majority of overseas assets, as was done with the first 25%?