Results 21-40 of 106 for nama speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Michael D'Arcy: Would it be fair, then, to say, according to the NAMA numbers, that there'll be a loss of €41 billion in the entire figure, on the 74?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Michael D'Arcy: Yeah. So the conversation about NAMA making a €1 billion loss ... can I ask you your view on that? Is it a €1 million - sorry, a €1 billion profit, or is it a €41 billion loss?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Michael D'Arcy: Which is the fairest? Is it NAMA making a €1 billion profit or the banks losing €41 billion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: -----at that stage. The NAMA figures subsequently ... that were transferred - with a discount of almost 60%, I think it was 59% - were you surprised at the level of discount?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Okay, and you don't agree. You don't agree with NAMA discounts?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: -----that the discounts in NAMA were incorrect by multiples.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Mr. Purcell, if we could bring up the document, Vol. 1, page 125, the NAMA annual report please? The NAMA discount or the famous or infamous haircut. INBS, the institution you represented, amounted to 61%, the highest of all institutions. Could you offer an explanation why INBS was the highest?

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

Michael D'Arcy: Can I ask my final question to both of you? Was NAMA a mistake?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: -----Chairman, please? In terms of NAMA - you brought up NAMA, Ms Harney, the €42 billion discount - Minister Lenihan was at pains to stress that the discounted money would still go ... the assets and liabilities would transfer together and that the discount ... that the State would get back the discount because the individual who borrowed the money would still owe the money. How...

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

Michael D'Arcy: You discussed NAMA earlier, Mr. O'Flynn, the €42 billion discount. Could you speak further in relation to that in terms of ... I'm not asking you about your own personal business; what I am asking is what is your understanding about how the State gets back, some, all of that €42 billion?

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

Michael D'Arcy: Sorry, Mr. O'Flynn, Minister Lenihan told us very clearly during the NAMA debates, that the discount would stay with the borrower, would stay ... and that the banks ... while the money-to-par value that was transferred to NAMA ... that the borrower would still be on the hook for the discounted amount or loan.

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

Michael D'Arcy: Sorry, the discounted amount that you didn't bring into NAMA, that was with the banks, is the money I'm discussing.

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

Michael D'Arcy: What I'm trying to explore is the discounted amount that wasn't transferred into NAMA that remain on the banks' balance sheets, that the developers are ... had borrowed ... the full value. Will the State see any of that money?

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

Michael D'Arcy: Sorry, the loans were ... the full loans were €74 billion. NAMA were ... paid the six covered institutions €32 billion.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael D'Arcy: ..., the conclusion says the sale of Anglo and INBS deposit books in January '11 which the NTMA managed and chaired. And it states: [T]he deposits ... [sorry] the transfer of the deposits and NAMA bonds should proceed despite the operational risks involved ... The NTMA accepts that this approach is appropriate in the absence of agreement by the Troika to vary the commitment to this effect...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael D'Arcy: Can I ask you, Mr. Corrigan, in terms of NAMA, the €42 billion discount, haircut, how much of that will the State get back?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael D'Arcy: Did you hear NAMA is going to make a profit of a billion? But that's on the 31-point-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Yes. Was there any peer analysis carried out by NAMA in the lead up to the crisis, a peer review?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael D'Arcy: Can I ask you, Mr. Somers, you said in your opening statement, "Transferring them to NAMA [the loans] would be a bonanza for lawyers and other professionals, as well as requiring a large staff in NAMA." In the event, a very large number of loans were transferred at a substantial discount. Would you have acted differently? Do you feel the NAMA discount was appropriate? And were you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael D'Arcy: Thanks, Chair, Mr. Cowen. Could I go to core documents DOT/BCO Vol. 5, page 6? Mr. Cowen, in terms of the analysis for NAMA, the expectation was, and Minister Lenihan on the floor of the Dáil said it would be something between a 25% and 30% write-down. When the analysis was concluded it was a lot more than 25% to 30%, it was almost ... I think it was 59% was the average. Did the...