Michael McGrath (Cork South Central, Fianna Fail)
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121. To ask the Minister for Finance the status of the planned wind-up of NAMA; the details of the portfolio that is remaining; the current estimate of the timeframe and the financial outturn from the wind-up of NAMA; and if he will make a statement on the matter. [40642/16]

Michael Noonan (Limerick City, Fine Gael)
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The most recent details on NAMA's remaining portfolio are available in the Agency's quarterly accounts for Q2 of 2016.  This is published on the NAMA website via: . Page 44 of the report and accounts provides details on NAMA's outstanding loanbook.  I expect to receive NAMA's report and accounts for Q3 of 2016 in the coming week and expect to lay that report before the Oireachtas when the Dail returns in January.

Regarding the geographic breakdown of the remaining portfolio, I would refer the Deputy to a recent presentation by the NAMA Chairman, Frank Daly, at the The Real Estate Alliance AGM. This presentation is also available on NAMA's website at .  Pages 4 and 5 of this presentation are particularly relevant to the Deputy's question.

NAMA's recently published Annual Statement for 2017, available on NAMA's website at https://www.nama.ie/fileadmin/user_upload/NAMA_s_Section_53_Annual_Statement_2017.pdf, also sets out the proposed objectives for NAMA for 2017; the proposed nature and scope of activities NAMA plans to undertake; the proposed strategies and policies NAMA intends to implement and the proposed application of NAMA's resources.

Following a redemption of €1bn of NAMA Senior debt on 14 December, NAMA expects to redeem most of its remaining €2.6bn Senior Debt in 2017 and to repay its subordinated debt in March 2020. NAMA will also focus on completing its Docklands and residential funding programmes in the interim period to 2020. NAMA's annual statement provides further insight into the Agency's expectations regarding the timing and quantum of its further debt redemptions, its expected progress in the funding of residential housing delivery and its role in the commercial development of the Dublin Docklands SDZ.

NAMA's most recent projections indicate that, after repayment of senior and subordinated debt, its terminal surplus will range between €1.6 billion and €2.3 billion.

I have no plans to wind down the Agency prior to, or beyond, its current expected timeframe. It is too early to speculate whether NAMA will have made sufficient progress on its various strategies, including its SDZ and residential delivery funding programmes that could warrant consideration a dissolution date other than at 2020 as originally envisaged.

Finally, the Deputy will be aware that, in-mid 2014, my officials produced a report under Section 227 of the NAMA Act, assessing the extent to which NAMA to end 2013 had made progress toward achieving its overall objectives and whether the continuation of NAMA was necessary for the purposes of the Act.  I am required under the NAMA Act to conduct a further Section 227 review of NAMA as of end 2018, to be published in 2019 - one year prior to NAMA's expected dissolution.