Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 157: To ask the Minister for Finance if BlackRock Solutions or, any of its subsidiaries, manages any assets for the National Asset Management Agency in view of the conflict of interest between its current role and its position as the world's largest assets management agency; and if it has given the State a guarantee not to become a client of NAMA in the future [6901/11]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank engaged BlackRock Solutions, an international firm with a strong reputation in the market for its capabilities in assessing losses in credit portfolios, to assist it in its Prudential Capital Assessment Review and Prudential Liquidity Assessment Review. The results of both exercises were announced last month. I understand BlackRock Solutions and its subsidiaries neither are, nor have been, service providers to NAMA. As with any other potential service provider, BlackRock Solutions is not precluded from responding to any public procurement tenders that may be issued in future by NAMA. However, under section 45 of the National Asset Management Agency Act, as part of its contractual arrangements with service providers NAMA is obliged to seek to ensure that each service provider makes every effort to avoid or manage conflicts of interest and to declare any such conflict to the agency.