Results 1-20 of 1,732 for nama speaker:Michael Noonan

Written Answers — Department of Finance: Question Heading for question(s) 63 (1 Jun 2017)

Michael Noonan: ...and the Tax Appeals Commission. The Credit Review Office (CRO) incurs no direct insurance costs as Enterprise Ireland provides full business services to the CRO. It was not possible for the NTMA and NAMA to provide the information sought in the time available and therefore I will make arrangements to provide the outstanding information in line with Standing Orders....

Written Answers — Department of Finance: NAMA Loans Sale (18 May 2017)

Michael Noonan: I propose to take Questions Nos. 31 and 15 together. The Deputy will be aware that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that, under Section 10 of the Act, its primary objective is to obtain the best achievable financial return for the State from its acquired loan portfolio.  In this regard, I am advised that NAMA is...

Written Answers — Department of Finance: Departmental Agencies Staff Data (17 May 2017)

Michael Noonan: ...Agency 11* Financial Services Ombudsman Bureau 3 Office of the Revenue Commissioners 13* The National Treasury Management Agency (NTMA) assigns staff to the National Asset Management Agency (NAMA) and the Strategic Banking Corporation of Ireland (SBCI). This figure relates to temporary staff working in the NTMA who are employed through agencies.

Written Answers — Department of Finance: Departmental Agencies Expenditure (17 May 2017)

Michael Noonan: ... Advisory Council €3,064 National Treasury Management Agency €41,951* Office of the Revenue Commissioners €2,685* The National Treasury Management Agency (NTMA) assigns staff to the National Asset Management Agency (NAMA) and the Strategic Banking Corporation of Ireland (SBCI) and also provides them with business and support services and systems. The costs...

Written Answers — Department of Finance: NAMA Investigations (11 May 2017)

Michael Noonan: The Deputy will be aware that I, as Minister, do not have a role in NAMA's commercial decisions. However, while respecting NAMA's independence, I and my officials regularly engage with NAMA regarding its performance and strategy. I maintain a regular dialogue with the NAMA Chairman and receive appropriate updates regarding NAMA's ongoing progress and future plans. I also meet on occasion...

Written Answers — Department of Finance: NAMA Loans Sale (3 May 2017)

Michael Noonan: The Deputy will be aware that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that, under Section 10 of the Act, its primary objective is to obtain the best achievable financial return for the State from its acquired loan portfolio. In this regard, I am advised that NAMA is confident it upheld its mandate in the Project Shift...

Written Answers — Department of Finance: NAMA Property Sales (3 May 2017)

Michael Noonan: I propose to take Questions Nos. 142 to 144, inclusive, together. As I pointed out in my replies to parliamentary questions 82 and 83 of 13 April 2017, NAMA initiated a targeted marketing process for the sale of the Project Tolka portfolio based on its assessment that such a process would yield a superior return to alternative options, as required by reference to its obligations under...

Written Answers — Department of Finance: NAMA Property Sales (3 May 2017)

Michael Noonan: The Deputy will appreciate that NAMA's engagement with its debtors and any decisions it makes arising from that engagement are confidential matters for the NAMA Board in line with its statutory independent mandate. The Deputy will be aware that NAMA owns and sells loans and not property. Separately, assets securing NAMA's loans are owned by the debtor or receiver. As such...

Written Answers — Department of Finance: NAMA Assets Sale (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 271 and 272 together. The Deputy will be aware that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that, under Section 10 of the Act, its primary objective is to obtain the best achievable financial return for the State from its acquired loan portfolio. In this regard, I am advised that NAMA is...

Written Answers — Department of Finance: NAMA Staff Data (2 May 2017)

Michael Noonan: As set out in my Department's Section 227 Review of NAMA in July 2014, the ability of NAMA to obtain the best achievable financial return for the State is heavily dependent on its retention of expertise. That view has been strongly endorsed by the NAMA Board. Given that, I agreed with the NAMA Board in the context of NAMA's accelerated senior debt redemption target and its ancillary...

Written Answers — Department of Finance: NAMA Transactions (2 May 2017)

Michael Noonan: I am advised by NAMA that the Agency has, to date, advanced a total of €384m in eight vendor finance transactions involving the sale of commercial property securing its loans.  I am advised that four of the loans have now been repaid in full and that the four remaining loans have an outstanding principal balance of €228.5m as at end-2016. Under sections...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance (13 Apr 2017)

Michael Noonan: ...Housing, Planning, Community and Local Government and local authorities have €5.5 billion over the next six years for social housing and, by any standards, that is a very strong investment. NAMA has a social obligation and is committed to building and providing 20,000 units, houses and apartments. It has already delivered between 4,000 and 5,000 and is continuing its work. NAMA...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance (13 Apr 2017)

Michael Noonan: ...will need to look at whether or not to take the money into the Exchequer. Our European friends, however, will probably insist that it is taken off our debt. Alternatively, it might be left within a NAMA structure whereby NAMA could spend on extra housing or social infrastructure. There is a way of modelling whereby we might be able to use that. NAMA is off balance sheet, as the Deputy...

Written Answers — Department of Finance: NAMA Operations (13 Apr 2017)

Michael Noonan: NAMA's commercial funding activities with respect to housing delivery are referenced in the Infrastructure and Capital Investment Plan (2016-2021) under "Non Exchequer Investment".  In other words, such funding has not been provided under the Capital Plan nor through direct Exchequer expenditure. Rather, it is provided by NAMA in line with its commercial mandate under Section 10 of the...

Written Answers — Department of Finance: NAMA Property Sales (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 82 and 83 together. The Deputy will be aware that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that, under Section 10 of the Act, its primary objective is to obtain the best achievable financial return for the State from its acquired loan portfolio. The NAMA Board exercises its judgement as to how best...

Written Answers — Department of Finance: NAMA Portfolio (6 Apr 2017)

Michael Noonan: As outlined in my previous response to Dáil Question 141 of 14 February 2017, NAMA held security over a number of properties within the referenced development. However, these properties were under the control of a receiver who had been appointed by a participating institution before NAMA acquired the associated loans. I am advised by NAMA that it was the appointed...

Written Answers — Department of Finance: NAMA Social Housing Provision (5 Apr 2017)

Michael Noonan: The Deputy will be aware that NAMA has made a significant contribution, on a commercial basis to the delivery of social housing, through working closely with the Department of Housing, Planning, Community & Local Government and the Housing Agency. To end 2016, NAMA offered 6,941 vacant houses and apartments owned by debtors and receivers to the Housing Agency, who...

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: While I do not wish to comment on individual cases, I have already cited examples of cases where NAMA is fulfilling its social mandate in an extensive manner. I also referred the Deputy to NAMA's website, www.nama.ie/social-initiatives, where he will find details of the various social initiatives the agency has taken under the Act.

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: I thank Deputy Catherine Connolly for tabling the question and Deputy Mick Wallace for acting as proxy and articulating the issue in the House. I am satisfied NAMA has made and continues to make a significant contribution to the social and economic development of the State.  Its principal contribution to social and economic development has been the major progress that it has made in...

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: The issue in the question is whether NAMA is delivering on its social mandate under the NAMA Act. I have already stated that it has delivered 2,370 residential units through NARPS. When it began in 2010, there were 332 unfinished housing estates. There is now 11 because it finished out all those estates. It has, therefore, contributed significantly to housing supply. It is also now...