Results 81-100 of 378 for nama speaker:Paschal Donohoe

Committee on Budgetary Oversight: Pre-budget Engagement: Minister for Finance (1 Oct 2020)

Paschal Donohoe: ...Yes, it includes the €9 billion of Covid-related expenditure. Regarding transfers within the balance sheet for next year, the key one that will be coming through will be further transfers from NAMA. On the nominal value of the different deficit ranges I have outlined, it would equate to between €14 billion and €18 billion to €19 billion, depending on where we...

Committee on Budgetary Oversight: Pre-budget Engagement: Minister for Finance (1 Oct 2020)

Paschal Donohoe: The Deputy put a question to me about NAMA. While we are unclear about what the exact figure will be, we are anticipating that it will be approximately €1.5 billion. The figure for this year was in the region of €2 billion. Regarding the deployment of the €9 billion, the vast majority of that has now been released in the way we anticipated because so much of it is...

Committee on Budgetary Oversight: Pre-budget Engagement: Minister for Finance (1 Oct 2020)

Paschal Donohoe: ...a process through which we can get views from the Oireachtas and different parts of our society and economy on that matter. I am not aware that any other one-off transfer of the scale of that from NAMA will be coming in. It will be the case, as we move through the year, that some other one-off payments may accrue but they will be nowhere near the scale of the NAMA figure.

Written Answers — Department of Finance: National Asset Management Agency (29 Sep 2020)

Paschal Donohoe: On 25th July 2019 the European Commission approved, under EU State aid rules, a limited extension of NAMA to 2025. The extension was sought to allow NAMA to continue to work through a small quantum of residual loans in order to maximise the return from these assets to the State. These loans represent less than 1% of what NAMA originally acquired and will be resolved during the period 2021...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: Since its inception, NAMA has advanced capital funding to its debtors and receivers in cases where it can be shown that such funding will enhance or protect the value of the assets securing NAMA’s loan portfolio. Subject to commercial viability, NAMA funds capital expenditure for the planning, design and construction of new residential and commercial projects. NAMA also funds...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: I wish to advise the Deputy that NAMA may provide funding to its debtors and receivers to protect and enhance their assets so as to optimise their income-producing potential and disposal value. This is in accordance with section 10 of the NAMA Act which states that NAMA is required to protect or enhance the value of its acquired assets and to obtain the best achievable financial return for...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: The Deputy will be aware that NAMA does not generally own properties; rather NAMA owns loans for which the properties act as security. I am advised that NAMA debtors and receivers own an estimated 675 hectares of land suitable for residential development in Ireland. NAMA regularly assesses the feasibility of these sites and, where development is deemed commercially viable; NAMA provides...

Written Answers — Department of Finance: Housing Data (21 Jul 2020)

Paschal Donohoe: I am advised by NAMA that, from 2014 to end-March 2020, NAMA has funded the direct delivery of 11,761 residential units and facilitated the indirect delivery of 5,357 units. Therefore, the figure of 17,000 units per NAMA’s 2019 Annual Report includes 5,300 units which have been indirectly delivered by NAMA. Indirect delivery relates to units delivered on sites for which NAMA...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: ...to a sustainable path. a As the Programme for Government sets out, windfall gains - such as they may arise - will be used to reduce the overall level of borrowing. For example, the first tranche of the NAMA surplus, some €2 billion, was returned to the Exchequer last month. The NAMA transfer means that we will borrow €2 billion less this year than would otherwise be the...

Written Answers — Department of Finance: Housing Data (30 Jun 2020)

Paschal Donohoe: NAMA has an objective of funding or facilitating the delivery of 20,000 residential units, subject to commercial viability, across NAMA-secured residential sites in Ireland. NAMA provides funding, on a commercial basis, to its debtors and receivers for the construction of new residential units where it can be shown that residential development will enhance the value of the secured-asset,...

Written Answers — Department of Finance: Exchequer Deficit (20 May 2020)

Paschal Donohoe: ...this quarter. The NTMA also plans to increase Treasury Bill and Commercial Paper Issuance. Overall short term issuance is expected to increase by a further €5 billion by year end. The first instalment of the National Asset Management Agency (NAMA) surplus of €2 billion was due to be made this year and had already been accounted for in the Budget 2020 fiscal projections. Given...

Written Answers — Department of Finance: NAMA Legal Fees (13 May 2020)

Paschal Donohoe: The information sought by the Deputy, with regard to payments made by NAMA to law firms in 2018 and 2019, is set out in the table below. Payments by NAMA to Law Firms2018-2019 Supplier 2018€'000 2019€'000 A&L Goodbody Solicitors 624 724 Arthur Cox Solicitors 190 283 ...

Written Answers — Department of Finance: Public Expenditure Policy (13 May 2020)

Paschal Donohoe: ...auctions scheduled this quarter. The NTMA also plans to increase Treasury Bill and Commercial Paper Issuance. Overall short term issuance is expected to increase by a further €5 billion by year end. The first instalment of the National Asset Management Agency (NAMA) surplus of €2 billion was due to be made this year and had already been accounted for in the Budget 2020 fiscal...

Written Answers — Department of Finance: NAMA Operations (13 May 2020)

Paschal Donohoe: As part of its Annual Report for 2018, NAMA revised its projected surplus to be returned to the State upward to €4 billion, subject to favourable market conditions. The realisation of the surplus depends on the success of NAMA’s ongoing deleveraging and the completion of its Dublin Docklands and Poolbeg SDZs and residential funding programmes. Following a direction by the...

Written Answers — Department of Finance: NAMA Portfolio (18 Dec 2019)

Paschal Donohoe: The Deputy will be aware that NAMA’s role is as secured lender and the property assets securing NAMA’s loan portfolio remain under the ownership and control of debtors and receivers. Set out in the attached file is information, in the format held by NAMA, relating to property collateral in Co. Galway that secured NAMA’s loan portfolio for each of the years from 2015 to...

Written Answers — Department of Finance: Departmental Expenditure (12 Dec 2019)

Paschal Donohoe: ...only. IFAC’s Payments Procedures Policy details the procedure and controls in respect of the use of the Fiscal Council debit card and in relation to the processing of Travel & Subsistence claims. National Treasury Management Agency (NTMA), including National Asset Management Agency (NAMA), Home Building Finance Ireland (HBFI) and Strategic Banking Corporation Ireland (SBCI)...

Written Answers — Department of Finance: NAMA Accounts (5 Dec 2019)

Paschal Donohoe: As part of its Annual Report for 2018, NAMA revised its projected surplus to be returned to the State to €4 billion, subject to prevailing market conditions. This figure was reaffirmed in the Section 53 Annual Statement 2020 which was laid before the Houses of the Oireachtas in October 2019. The realisation of the surplus depends on the success of NAMA’s ongoing deleveraging and...

Written Answers — Department of Finance: NAMA Bonds (3 Dec 2019)

Paschal Donohoe: The National Asset Management Agency (NAMA) was established in December 2009 as part of the State’s response to the 2008 banking crisis. NAMA paid the banks €31.8 billion for the assets it acquired with €30.2 billion of consideration provided by way of government guaranteed (senior) bonds and a further €1.6 billion in subordinated debt. NAMA redeemed all of its...

Written Answers — Department of Finance: NAMA Investigations (19 Nov 2019)

Paschal Donohoe: I am informed by NAMA that it is currently aware of one open investigation into an alleged breach of Section 172(3) of the NAMA Act 2009. I am advised that, so far as NAMA is aware, An Garda Síochána’s investigation into this alleged breach is continuing. Criminal investigations, such as this, are a matter for An Garda Síochána and the DPP and I am advised...

Written Answers — Department of Finance: NAMA Operations (13 Nov 2019)

Paschal Donohoe: NAMA held remaining debtor loans with a fair value of €1.73 billion at the end of Q2 2019. Much of NAMA’s remaining portfolio is secured by low-value, granular assets and realisation of these assets continues to require patient and extensive work on the part of NAMA. In July 2019, I published the second Section 227 Review under the NAMA Act 2009 where NAMA estimated that it...