Results 1-11 of 11 for nama speaker:Noel Rock
- Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Development Agency Bill 2019: Discussion (Resumed) (12 Nov 2019)
Noel Rock: ..., there is great value of having it live within the realm of FOI. From what I can hear, there is no great rationale for it living outside that realm. Mr. Coleman has experience of working in NAMA and in an organisation that is outside FOI. He correctly compared and contrasted the different natures of the two organisations. Does he believe the core functions of the LDA would be able to...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: ...made seems to me to be of substance. I refer to the critical board minutes of December 2013 or January 2014 which state a bottom line of £1.3 billion. There seems to be no great analysis of how NAMA reached that figure. The Comptroller and Auditor General also made the point that the NAMA executives were not really red-line recommending this at that time. Do the witnesses believe...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: That effectively sums it up. A professional disagreement is how Mr. Collison sees it. NAMA is right in terms of its conflict with the Comptroller and Auditor General. That is the nub of this, is it not? A lot of this is summed up by the statistics that Mr. Collison put forward in his opening statement such as "15% of Project Eagle debtors were graded as co-operating" as opposed to the...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: ...of loans with a face value of £4.6 billion could have been so bad that they were sold for £1.32 billion or, if one likes, 29p on the pound. The figure the Comptroller and Auditor General says NAMA should have got is about 32.5p on the pound. It would have also been the case that NAMA bought this bundle of loans for somewhere north of £1.9 billion. Is that correct? One...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: That is much lower. The following question is for Mr. Rooney. Would NAMA have been conscious of currency risk during the sales process? For example, when the sale closed on 30 June 2014, the rate of exchange was about £1 to €1.25.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: Was it the case that NAMA needed euro to repay its borrowing at that point?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: That is fair enough. One can see the pressing reasons NAMA would have sold with speed. It is perhaps interesting to note on the record that had it been sold in September 2016 or indeed in June 2016, it would have reduced the level of loss quite substantially. The difference between the Comptroller and Auditor General's figure and NAMA's figure would have fallen to around €100...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: In light of where we are now, the amount of scrutiny that has gone into this process and the questions marks it has drawn up among the public about NAMA, would Mr. Collison have done anything differently in this process?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)
Noel Rock: ...we have said in that case and referencing what I said in my opening remarks, does Mr. Collison think it is fair to say that this whole situation is effectively a matter of differing opinion between NAMA and the Comptroller and Auditor General about the valuing of assets and about the interpretation of the process of valuing the assets?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Noel Rock: Did NAMA give them a written brief in this instance? It seemed to be inferred earlier that their pitch book to a certain extent was, in effect, the written brief. Is that the case?
- Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015 (21 Jul 2016) Noel Rock: ...that jumped out at me as I read the report was the impact of Brexit on the NTMA and how it conducts its business. Some 20% of the remaining loan assets of the National Asset Management Agency, NAMA, are located in the UK. To what extent have derivative assets and exchange rate hedging, in particular, shielded the NTMA from the fall in the value of sterling?