Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

59. To ask the Minister for Finance if he has asked the National Asset Management Agency, as part of the current review of the agency, to consider selling off large portions of its loan book through a small number of big ticket portfolio deals; and if he will make a statement on the matter. [8800/14]

Lucinda Creighton (Dublin South East, Independent)
Link to this: Individually | In context | Oireachtas source

79. To ask the Minister for Finance if media reports are accurate that half of the Irish Bank Resolution Corporation assets are now expected to be sold; if he will confirm if media reports are accurate that he is looking at an accelerated sale of National Asset Management Agency assets; and if he will make a statement on the matter. [8831/14]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 59 and 79 together.

The Special Liquidators are continuing to implement the orderly and efficient wind down of IBRC in accordance with the provisions of the IBRC Act and the Ministerial Instructions. The sales processes in relation to the assets are on-going and are expected to be completed over the coming months. While I am pleased with the progress made by the Special Liquidators to date it is too early to estimate with certainty the precise level of assets that will be sold.

The strategy and timing of NAMA's sale of assets is one of the areas being examined as part of the review of NAMA being carried out by my Department.  In the context of this review, I have asked NAMA to evaluate their disposal timing and strategy in the context of current market demand and explore the advantages and disadvantages of accelerating its disposal strategy.  No decision will be taken on this matter until I receive feedback from NAMA on these points and my Department's review has been completed. I expect this to be completed in the coming months.