Results 61-80 of 246 for nama speaker:Kieran O'Donnell

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

Kieran O'Donnell: The point I'm making really ... that by NAMA being established, it crystallised losses of the order of 61% discounts in Anglo and Irish Nationwide at a time - and there is a direct correlation between our spiking of our sovereign debt cost and the establishment of NAMA - and the point I'm making really is if Irish Nationwide and Anglo Irish had been nationalised the night of the guarantee, is...

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

Kieran O'Donnell: What has been the level of debt write-off by NAMA since its establishment in terms of debts? Level of write-off?

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

Kieran O'Donnell: And the top 29 borrowers who made up 46% of the overall loans ... how many of those are still in NAMA?

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

Kieran O'Donnell: How many of those are being paid a salary by NAMA?

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

Kieran O'Donnell: And can I, to follow on, in terms of the measurement of what NAMA is delivering to the Irish citizen and taxpayer, the whole issue of the rate of return metric ... that has come up, as you well know, and the C&AG has carried out a report on it. What's ye're view on that now in terms of providing, I suppose, an independent metric of how NAMA has performed on behalf of the taxpayer?

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

Kieran O'Donnell: I want to deal with two items. First, I want to clarify a few points regarding NAMA. Am I correct in saying Dr. Bacon presented his report to the then Minister for Finance, Mr. Brian Lenihan, on 20 March?

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

Kieran O'Donnell: However, when NAMA was actually implemented, the scale of the write downs was, on average, 57%. That is a big leap from an average of 22%. The question is how we got to that point. Dr. Bacon's report that was presented to Government on 20 March 2009 is a very detailed report that specifically goes down through each bank and Dr. Bacon specifically indicates how the €158 billion of...

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

Kieran O'Donnell: Professor Ahearne wrote an article about NAMA in July 2008 in which he said the best practice was for banks to recognise the losses of the loans up front and sell the assets at fair market value. Dr. Bacon, who was before the committee this morning, was the architect of NAMA and he said there were €34 billion in impairments on €80 billion of loans, a write-off of between 50%...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: I welcome the fact that NAMA is taking on board the Comptroller and Auditor General’s recommendation on rate of return. What type of rate does it envisage taking on board from 2015?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: Mr. McDonagh said that at the end of the second quarter NAMA sold debtor’s loans with a normal part debt value in excess of €12.5 billion and it recognised a loss of €227 million on the disposal of the loans. Is that €227 million on the value NAMA paid for the loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: It is not off the original book value. Would it be fair to say that NAMA’s model is that profits come from interest on loans which in essence cover losses it makes on the disposal of loans and assets? Is that a reasonable summary?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: To date, globally, has NAMA made a profit or loss on disposal of loans and does it have a break-down of profit and loss on disposal of assets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: If NAMA was going to make a loss of €140 million on disposal of a portfolio of assets in the North in the second quarter, why, when the market is rising, would it not have held off on selling those loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: How much did NAMA purchase that loan for and what did it sell for to arrive at the loss of €140 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: In respect of staff on garden leave who have to refrain from taking up a post in that area for six months, in the current market can NAMA retain staff and is six months too short a period? The public perception is that it is too short.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: With due respect, working for NAMA is not like working for any other property business. It is probably still one of the biggest in the world. The access it gets to databases and information is unique. Mr. McDonagh spoke about a relatively unique set of circumstances for investment return and I take that on board but think we should have a benchmark. Equally, when staff work for NAMA they...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: A question was put on NAMA's dealings with developers within NAMA. How many developers have exited NAMA at this stage? Have developers purchased assets, including either their own loans or unrelated loans, from within NAMA? A sum of €10 million has been paid out by NAMA in salaries to developers, three of whom are on €200,000, 13 of whom are on between €150,000 and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: Is that the par value NAMA took over and which the developer had with the financial institution originally?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: How many developers have exited NAMA?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: I thank Mr. Daly, Mr. McDonagh and their colleagues. I looked back at the accounts for the first six months, and more particularly for the second quarter. NAMA made a profit of €102 million for the six-month period. However, a net loss was made on the disposal of loans of approximately €140 million. What type of write down is NAMA taking on the disposal of loans? To follow...