124 Deputy Joan Burton asked the Minister for Finance if the transfer of the first tranche of loans to the National Asset Management Agency has been fully completed for all participating institutions; if a significant amount of loans scheduled for transfer to NAMA in the first tranche were subject to very significant discounts of up to 100%, due to the deficiencies of legal title and documentation; if the discount was then challenged by the credit institutions; the loans, if any, originally scheduled for transfer to NAMA in the first tranche that are now not being transferred due to a challenge by the relevant credit institution to the transfer price or haircut or where significant losses are incurred by a credit institution on loans which had been scheduled for transfer to NAMA but, due to a challenge in respect of the transfer price or haircut, they remain on the books of the credit institution, and if he proposes to replenish from State funds any resulting negative. [25102/10]

Summary

124 Deputy Joan Burton asked the Minister for Finance if the transfer of the first tranche of loans to the National Asset Management Agency has been fully completed for all participating institutions; if a significant amount of loans scheduled for transfer to NAMA in the first tranche were subject to very significant discounts of up to 100%, due to the deficiencies of legal title and documentation; if the discount was then challenged by the credit institutions; the loans, if any, originally scheduled for transfer to NAMA in the first tranche that are now not being transferred due to a challenge by the relevant credit institution to the transfer price or haircut or where significant losses are incurred by a credit institution on loans which had been scheduled for transfer to NAMA but, due to a challenge in respect of the transfer price or haircut, they remain on the books of the credit institution, and if he proposes to replenish from State funds any resulting negative. [25102/10]

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Timeline

1. 15 June 2010

   National Asset Management Agency

   124 Deputy Joan Burton asked the Minister for Finance if the transfer of the first tranche of loans to the National Asset Management Agency has been fully completed for all participating institutions; if a significant amount of loans scheduled for transfer to NAMA in the first tranche were subject to very significant discounts of up to 100%, due to the deficiencies of legal title and documentation; if the discount was then challenged by the credit institutions; the loans, if any, originally scheduled for transfer to NAMA in the first tranche that are now not being transferred due to a challenge by the relevant credit institution to the transfer price or haircut or where significant losses are incurred by a credit institution on loans which had been scheduled for transfer to NAMA but, due to a challenge in respect of the transfer price or haircut, they remain on the books of the credit institution, and if he proposes to replenish from State funds any resulting negative. [25102/10]

   Source: written

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• National Asset Management Agency

  xml · EN · 15 June 2010

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Sponsors

• Joan Burton · Asking member
• Minister for Finance · Minister for Finance · Addressed to

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