Results 13,601-13,620 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: Is Mr. McDonagh balancing the €900 million against the €1.5 billion to the banks?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Mr. McDonagh expected better growth figures for the past three years but it did not happen. Is that why the revision was made?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: I am somewhat confused by the concept of long-term economic value. We purchased the loans on 30 November 2009 at market value.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Did we acquire loans that seemed to be worth €31 billion?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Over the course of a ten-year period, we have managed the assets to realise the market value as of 2009.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Does anything above that qualify as profit?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Does this also take account of operating costs, fees to debtors, any investments made and money recouped?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Must NAMA make more than €31 billion in order to achieve a break-even target?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Is Mr. McDonagh estimating that at €32 billion?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Is that the estimate for 2019?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: In his opening statement, Mr. McDonagh said that NAMA was established to achieve the best financial return for the State from the assets entrusted to it. However, the legislation does not exactly say that. The legislation is open to interpretation as to what exactly NAMA is meant to pursue above and beyond the value of the assets as it acquired them in 2009. Looking back to Mr. Brian...
- 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%?