Written answers

Tuesday, 6 October 2009

Department of Finance

Proposed Legislation

9:00 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
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Question 260: To ask the Minister for Finance the value of debt service payments made in the past 12 months on the €77 billion which it is proposed will be purchased; the value of interest, of repayments of capital, of roll-up interest; and if he will provide the information in respect of the loan values being transferred from each of the respective banks. [33232/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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Information provided by me during the Second Stage debate on the Bill included the fact that, of the total portfolio value of €77 billion, €9 billion accounted for rolled up interest. I also indicated that, based on information provided by the relevant institutions, about 40% of the assets were cash-flow producing.

It is expected that the securities issued to purchase assets from the participating institutions will be linked to six-month Euribor. Based on information provided by the institutions it is expected that the cash-flow outlined above will be sufficient to cover NAMA's obligations including interest payments.

The detailed figures that the Deputy has requested will not be available until a loan by loan assessment has been completed.

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