Michelle Mulherin (Mayo, Fine Gael)
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145. To ask the Minister for Finance his views on the sales process pursued by the National Asset Management Agency such as in the Irish Bank Resolution Corporation loan sale offers where the market generally does not bid what NAMA expects to be bid; the person is accountable to the taxpayer for setting the valuation or reserve price; and if he will make a statement on the matter. [45623/13]

Michael Noonan (Limerick City, Fine Gael)
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I would remind the Deputy that, as Minister for Finance, I have no role in relation to individual transactions, including those relating to the sale of property, approved by NAMA in line with its statutory commercial mandate. In managing its commercial mandate, NAMA must make a professional assessment, for each of thousands of transactions, as to whether any particular proposed transaction is ultimately in the taxpayers' best interests, as opposed to the interests of other parties. In that respect, I have stated previously that I am satisfied with NAMA's progress to date. The Deputy may wish to note that, in the four years since its inception, NAMA has overseen the sale of loans and property with a value of close to €10bn. This includes the sale of over 7,000 individual properties. The generation of €10bn in assets sales and a further €4bn in non-disposal income, mainly rental income, means that NAMA is firmly on course to meet its first major debt repayment target, that is, the repayment of €7.5bn of Senior Bonds by the end of 2013.