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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: Give me some thoughts on that.

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 value of that loan book?

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 that the carrying value?

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 was the carrying value before the fair value was brought into 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: 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: Okay.

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: I understand that.

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: Fine. I appreciate Deputy Cullinane has to leave. I have another question about the surplus. Has the Department of Finance had discussions at EU level with EUROSTAT about the use of the surplus when it is ultimately handed over? We had a discussion on this here before. We were told that because NAMA is unique, there are no specific European or EUROSTAT rules on it. Historically,...

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: Surely the Department has to put plans in place.

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: Where will it stay?

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: If they are happy with their return, they will sit on 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: In other words, we are in their hands because that is out there until that period.

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 cannot actually hand it in to the-----

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 am making the observation politically - it is more of a financial thing - that it is not a good idea to have €3.5 billion locked away to this extent. I would be interested to know if there is some amendment that could deal with this.

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: Okay, that is all NAMA can-----

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: On the basis of-----

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: So it is not realised yet.

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