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Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: We are resuming our discussion in respect of the financial statements for the National Asset Management Agency. Before the break Deputy Murphy was speaking. Members have indicated a wish to contribute in the following sequence after Deputy Murphy - Deputies Cassells, Aylward, Cullinane and Connolly. Deputy Murphy has a few minutes remaining.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: That is on the assumption that it is all borrowed. People might have other means of accessing to money.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: We still have borrowers.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: I call Deputy Cassells.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Will the representatives from the Department of Finance comment on the situation whereby local authorities say they have no money to do it and that they want to acquire houses but they do not have not the clearance from the Department? I presume that the Department of Finance holds the purse strings for the Department of Housing, Planning and Local Government. Who or where is the block with...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Is it the Department of Public Expenditure and Reform?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Mr. Carville is here just representing the Department of Finance.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: We have not finished yet.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Deputy Cullinane wanted to come back in again. I, myself, will have two questions at the end.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: It was set at the establishment of NAMA.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: To what note is the Deputy referring?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: That is fine.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: What is the basis of the difference between the €26.2 billion and the €31.8 billion? Could Mr. McDonagh describe it?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Why did Europe insist on the higher figure?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Yes.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: The banks wanted the extra money.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Was a more cautious approach taken at some level, that it was better to burden NAMA with the extra debt rather than leaving the banks in a tighter corner?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: I apologise for interrupting.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: Can Mr. McCarthy explain EROI for people watching?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
(20 Sep 2018)

Seán Fleming: What does EROI stand for?

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