Presentation by Frank Daly Chairman, National Asset Management Agency to the
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Presentation by Frank Daly Chairman, National Asset Management Agency to the British Irish Parliamentary Assembly 14 June 2011
description
Presentation by Frank Daly Chairman, National Asset Management Agency to the British Irish Parliamentary Assembly 14 June 2011. Background - Property. 2. Background – Banking. 3. 3. Background – Banking (contd). 4. 4. Background – Regulatory/Fiscal. 5. 5. - PowerPoint PPT Presentation
Transcript of Presentation by Frank Daly Chairman, National Asset Management Agency to the
Presentation by Frank DalyChairman,
National Asset Management Agencyto the
British Irish Parliamentary Assembly14 June 2011
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Background - Property
33
Background – Banking
3
44
Background – Banking (contd)
4
55
Background – Regulatory/Fiscal
5
66
Response to banking crisis
77
Response to banking crisis (contd.)
7
8
NAMA core objective (NAMA Act 2009)
• NAMA will…protect or otherwise enhance the value of assets (transferred to it)…
• ..obtain the best achievable financial return to the State.
• Finite lifespan. NAMA Business Plan (July 2010): Projected gain of €1 billion over 10 years.
99
Governance
9
1010
10
Staffing
1111
Accountability
11
1212
EU Oversight
EU State Aid
EU Commission approved NAMA scheme – end February 2010.
Eligibility criteria - institutions and assets
Valuation Methodology
EU also approves each tranche of loan transfers as it is completed.
EU State Aid
EU Commission approved NAMA scheme – end February 2010.
Eligibility criteria - institutions and assets
Valuation Methodology
EU also approves each tranche of loan transfers as it is completed.
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Loan valuation
13
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Loan acquisition
14
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Loan acquisition (contd)
15
NAMA Balance Sheet 31 Dec. 2010
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Asset Type € billion PercentL&D 12.1 40%Investment 18.1 60%Total 30.2 100%
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Creation of liquidity
17
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Borrower Engagement
1919
Business Plan Process
2020
Key features of NAMA approach
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New money
212121
Year % to be Repaid
2013 25%
2015 40%
2017 80%
2018 90%
2019 100%
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Common misconceptions about NAMA
22
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Common misconceptions about NAMA
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Common misconceptions about NAMA
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Progress
25
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Challenges
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