Brian Hayes (Dublin South West, Fine Gael)
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Question 31: To ask the Minister for Finance the projected transactions cost related to the transfer of loans from Anglo Irish Bank to the National Asset Management Agency for 2010; and if he will make a statement on the matter. [33932/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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To date loan assets belonging to Anglo with a nominal value of €16 billion have transferred to NAMA for a consideration of €7 billion representing an overall discount of 58%.

As I announced in my statement earlier today, it is now intended to transfer Anglo's remaining eligible bank assets in one single tranche by the end of October. NAMA has completed a review of the assets securing the loans in Anglo's remaining NAMA tranches, taking into account its experience of valuing similar assets in the transfer of completed tranches. This review has enabled NAMA to determine and advise the Central Bank of the expected discount of 67% on the remaining €19bn. of the bank's loans that are due to be transferred.