Terence Flanagan (Dublin North East, Independent)
Link to this: Individually | In context | Oireachtas source

65. To ask the Minister for Finance the date by which he expects the National Asset Management Agency to have finished its work; and if he will make a statement on the matter. [11462/14]

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

As indicated recently by its Chairman, the NAMA Board is currently reviewing its asset disposal projections and the timeframe over which it can expect to repay its liabilities. As the Deputy may be aware, the NAMA Board had set an original timeline for the completion of its work of 2020. However, depending on economic and market conditions, I am advised that there may be scope for NAMA to complete its work at an earlier stage. I am advised that this is currently under consideration by the Board.

In the context of my Departments 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. I welcome the recent acceleration in the repayment of Senior Bonds and the recent payment of a coupon on the subordinated debt and view them as a positive sign that economic and market conditions are improving.