Seán Fleming (Laois-Offaly, Fianna Fail)
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12. To ask the Minister for Finance his plans for the wind-down of the National Asset Management Agency; and if he will make a statement on the matter. [17545/15]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that the NAMA Chief Executive, in his opening address to the Public Accounts Committee on 18 December 2014, stated that NAMA is aiming to redeem a cumulative 80% (€24 billion) of its senior debt by the end of 2016 and that it hopes that it will have redeemed all of it by the end of 2018. He stated that those targets were predicated on conditions in the Irish market remaining favourable and on NAMA being in a position to retain sufficient specialist staff to enable it to generate the optimal financial return from the realisation of its residual loan portfolio.

The Deputy may be aware that in July 2014 the NAMA Board also undertook to facilitate the timely and coherent delivery of key Grade A office space, retail and residential space within the Dublin Docklands strategic development zone and Dublin's Central Business District and to maximise the delivery of residential housing units in areas of most need. 

So while we have increasing visibility regarding the elimination of the State's contingent liability through the accelerated redemption of NAMA's government guaranteed senior notes, it is too early to speculate as what date in the future NAMA will have made sufficient progress on its objectives as to warrant consideration of its dissolution.