Results 15,241-15,260 of 26,228 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: I welcome the estimate of the €2 billion profit. To play devil's advocate, how would NAMA respond to the argument that there was a write-off of over €40 billion of taxpayers' money in terms of the banks so that the profit of €2 billion is on the values NAMA took them over at? How does NAMA respond to that argument? Will the profit actually be €2 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: I know that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: My time is limited and Mr. Daly is going over ground that has already been dealt with. I have listened to the debate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Mr. Daly will appreciate that we represent the ordinary man and woman who has put so much of their hard earned money into the banks. To follow on from that-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Does Mr. Daly regard €2 billion as the minimum? What would he regard as the maximum?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Following on from that, the Comptroller and Auditor General has spoken about putting a benchmark or rate of return in place in terms of NAMA. Has that been done?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What is that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What is the rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: The level of equity that banks require from developers or builders operating in the marketplace at present is very significant - it could be 30% or more. What level of equity will NAMA be looking for from various interested builders in terms of partnerships on these projects?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Could NAMA give 100% funding?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What percentage of NAMA's loanbook in terms of number and value of loans has been disposed of either by the selling on of loans or realising of loans by NAMA. What is remaining? Will Mr. McDonagh give us a general outline of the way NAMA sees this unfolding?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What percentage is gone to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Is that 70% of the value?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Could Mr. McDonagh equate that to the number of loans? Would it be 70% of debtors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: That is significant. What are Mr. McDonagh's thoughts on the remaining debtors? It is more or less the same, about 75%. The total loans taken over by NAMA were valued at about €74 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What is left of those?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: NAMA took over approximately €35 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What level of that is left?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Yes, carrying value.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What are Mr. McDonagh's thoughts on how that will unfold?