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

61. To ask the Minister for Finance further to Parliamentary Question No. 91 of 13 February 2014, to which he responded by letter on 20 February 2014, if he will confirm the split of the €3.5 billion of par value loans acquired for nil consideration by the National Asset Management Agency, for each of Bank of Ireland, Allied Irish Banks, Anglo Irish Bank, Irish Nationwide Building Society and the Educational Building Society; and if he will make a statement on the matter. [11446/14]

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

63. To ask the Minister for Finance further to Parliamentary Question No. 91 of 13 February 2014, to which he responded by letter on 20 February 2014, if either the National Asset Management Agency or the originating banks, Bank of Ireland, Allied Irish Banks, Anglo Irish Bank, Irish Nationwide Building Society and the Educational Building Society, have been investigated by the Central Bank of Ireland-Financial Regulator with respect of the €3.5 billion of loans acquired for nil consideration; and if he will make a statement on the matter. [11448/14]

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

I propose to take Questions Nos. 61 and 63 together.

I have been informed by NAMA that of the estimated €3.5 billion of par value loans acquired by NAMA for nil consideration €2.5billion was acquired from Anglo Irish Bank, €0.7 billion from Allied Irish Banks, €0.2 billion from Irish Nationwide Building Society, €0.1 billion from Bank of Ireland and €0.03 billion from the Educational Building Society.

I have been informed by NAMA that it acquired the €3.5 billion of loans for nil consideration in accordance with the defined valuation methodology which was agreed with the EU Commission. In accordance with this methodology where the security is not enforceable or the loans were unsecured, or the security was assessed to be defective no consideration was paid for the loans. NAMA is not subject to the regulation of the Central Bank of Ireland/Financial Regulator, however the acquisition of the loans by NAMA was reviewed by the Comptroller and Audit General who reported on the matter in its Special Report on NAMA dated October 2010, which is available on the NAMA website, . I am not aware of any investigation into this matter by the Central Bank of Ireland/Financial Regulator in respect of the originating banks that issued the loans.

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

62. To ask the Minister for Finance further to Parliamentary Question No. 91 of 13 February 2014, to which he responded by letter on 20 February 2014, if he will confirm the number of borrowers whose loans were acquired for nil consideration by the National Asset Management Agency, whose total of nil consideration loans fell in the following ranges, €500 million plus, €100 million-€500 million, €50 million-€100 million and less than €50 million; and if he will make a statement on the matter. [11447/14]

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

I have been informed by NAMA that the estimated €3.5 billion of nil consideration loans fell in the following ranges: