Michael McGrath (Cork South Central, Fianna Fail)
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132. To ask the Minister for Finance the amount of cash reserves currently held by the National Asset Management Agency; the nature of the account in which the money is deposited; the rate of return being earned; and if he will make a statement on the matter. [32483/14]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA, that as at 30th June 2014, NAMA had cash and cash equivalents of approximately €3 billion earning an average rate of 0.04%.  €1.7 billion of this balance was invested in Irish Exchequer notes with a maturity of less than two months. €1 billion collateral was placed with the NTMA through a CSA (Collateral Support Annex) on foot of derivatives executed with the NTMA as counterparty. The residual cash balance was placed with the Central Bank of Ireland and NTMA appro ved credit counterparties with a maturity of less than 1 week. NAMA seeks to ensure that it has sufficient liquidity at all times to meet drawdown commitments and its contractual obligations.  As surplus cash builds up, NAMA looks to redeem the NAMA Senior notes.