Results 161-180 of 320 for nama speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Michael McGrath: It's quite a broad question, the NAMA discounts on the acquisition of Bank of Ireland loans was considerably less than your peers.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Michael McGrath: ...and Auditor General report. What is your reaction to that, even though it is less than the other banks, it is still a very high discount applied to property land development related loans that NAMA would've acquired from your bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Michael McGrath: Can I ask you, Mr. Gleeson, about the issue of interest being rolled up and that practice? Because I think some light was shed on that yesterday by NAMA that, for example, of the €74 billion of par value of loans they acquired, €9 billion of that was actually just interest being rolled up and that €9 billion more or less related to the €40 billion in the land and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: ...Mr. McDonagh in particular, one of the issues that we are tasked with examining is to assess the appropriateness and the effectiveness of the policy responses to the crisis and the establishment of NAMA was a key part of that and on page 9 of your opening statement I think you seek to address that, Mr. McDonagh. We know the direct consequence of establishing NAMA. NAMA bought loans with...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: As I mentioned there, the purchasing of the loans by NAMA resulted in €42 billion of losses hitting the accounts of the banks, you know, pretty much immediately. That hole then had to be plugged by way of taxpayer recapitalisation. In terms of the overall performance of NAMA, what you're saying is that you will pay back your €31.8 billion of debt, you'll cover your operating...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: ...a staggering figure - €9 billion of interest roll-ups. Can you explain to us in practice how that occurred? Does it mean that many loans were not being repaid at all by debtors to the banks prior to NAMA coming on the scene? And how could such a huge amount of interest be rolled up on those loans, or are many of those loans with no repayments being made still being regarded as...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: Okay. You mentioned in your opening statement, page 14, that in some cases NAMA acquired some loans for only 10% or less of their face value. Presumably that would have been development land in many cases, or land which was unzoned.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: Speculative land. Do you know what the lowest percentage of face value that NAMA would have paid for any individual loan? Are we down into ... we're down into single digits, presumably, percentage wise?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: So, in some cases, a loan with a face value of €100 million, NAMA would have paid €5 million, proportionately?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: Okay. Can I ask how much of the original €74 billion of par value of loans remains to be sold today by NAMA?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: And what timeline are you working towards for the wind-up of NAMA?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael McGrath: Okay. Final question. During the course of your work you identified a lot of assets which were essentially put beyond the reach of NAMA, and you successfully reversed many of those transactions and brought them within the ambit of NAMA. Can you characterise the nature of some of those transactions and give us any information you have on the scale of such transactions which you've managed...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Michael McGrath: Thank you Chair, and I welcome Dr. Bacon. Can I make sure that we are connecting the numbers correctly here? Many numbers have been thrown around during the course of different questioning? NAMA paid €31.8 billion for loans with a book value of €74 billion, an overall impairment of about €42 billion. Are we correct in relating that back to the broad estimates, made by...

Written Answers — Department of Finance: NAMA Debtors (26 Feb 2015)

Michael McGrath: 76. To ask the Minister for Finance the number of debtors the National Asset Management Agency, NAMA, had on its books when all the loans were transferred; the number of debtors and the book value of loans that remain on the agency's books; the number of debtors the agency has concluded a final deal with; the number of such deals that involve balances owed to the agency being ultimately...

Ceisteanna - Questions - Priority Questions: NAMA Operations (4 Feb 2015)

Michael McGrath: As the Minister knows, about 90% of what NAMA has sold has been bought by US private equity funds. Their intentions in the medium term for the assets they have acquired from NAMA remains to be seen. Will the Minister speak about reports that NAMA is preparing to sell €8 billion worth of loans? If such a large tranche is sold, the loans could be bought by foreign investors, which...

Ceisteanna - Questions - Priority Questions: NAMA Operations (4 Feb 2015)

Michael McGrath: 1. To ask the Minister for Finance when the National Asset Management Agency will wind up its operations; if he will provide an estimate of the financial outturn for the taxpayer from NAMA; if he envisages any further role for NAMA in the medium term beyond its current mandate; and if he will make a statement on the matter. [4823/15]

Ceisteanna - Questions - Priority Questions: NAMA Operations (4 Feb 2015)

Michael McGrath: The purpose of this question is to establish when the Minister expects the National Asset Management Agency, NAMA, to wind up its operations, the current estimate of the financial outturn from NAMA and whether he envisages any further role for NAMA beyond its current mandate and perhaps beyond its current expected lifespan.

Ceisteanna - Questions - Priority Questions: NAMA Operations (4 Feb 2015)

Michael McGrath: I welcome the fact that it appears that the contingent liability which the State is carrying in respect of NAMA will not now be required because it appears NAMA will at least break even and hopefully generate a surplus for the Exchequer over time. When, in the Minister's view, can we expect that NAMA will have concluded its operations? NAMA's chairperson indicated that it hopes to have...

Written Answers — Department of Finance: NAMA Staff Numbers (22 Jan 2015)

Michael McGrath: ...of the number of staff that will be needed post-2016 by the National Asset Management Agency to manage outstanding legal cases in which it is involved; the way this will be managed once the bulk of NAMA’s work is completed; and if he will make a statement on the matter. [3193/15]

Written Answers — Department of Finance: NAMA Receivers (18 Dec 2014)

Michael McGrath: 98. To ask the Minister for Finance the amount of fees incurred by the National Asset Management Agency in respect of the appointment of receivers to NAMA debtors in each of the years to 2013 to date in 2014; the number of receivers that have been appointed by NAMA for each of these years; and the number of different professional firms that have been appointed as receivers by the agency....