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An Roinn AirgeadaisDepartment of Finance
Sraid Mhuirfean Uacht, Upper Merrion Street, Teileafon /
TelephonBaile Atha Cliath 2, Dublin 2, Facsuimhir/ FacsimEire-
Ireland. Glao Aitiuil / LoCall:http://www.irlgov.ie/fi
Ref: FOI 200/2009
4 December 2009
Mr. Gavin Sheridan21 The CourtyardCastleredmondMidleton
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that have had to be dealt with in relation to banking and
financial matters, thepreparation of the NAMA legislation over the
past number of months and also thesubstantial number of Freedom of
Information requests received in this area.
I have made a final decision to grant your request on 4 December
2009. If you haveany queries regarding this correspondence you can
contact me by telephone at 6318129 or by email at
[email protected].
The purpose of this letter is to explain that decision. This
explanation has thefollowing parts:
1. a schedule of all of the records covered by your request;2.
access arrangements.
This letter addresses each of these parts in turn.
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the Bank Guarantee scheme, the nationalisation of Anglo Irish
Bank and therecapitalisation of AIB, Bank of Ireland and A nglo
Irish Bank.
PriceWaterhouseCoopers was retained by the Financial Regulator
in late 2008 toassist the Financial Regulator with a review of the
financial and capital positions ofIrish banks and to enable the
Financial Regulator to advise the Government on whataction needed
to be taken. The work undertaken involved an initial high
levelassessment of the capital and liquidity levels of the
institutions, stress testing of theinstitution's loan portfolios
over a three year period, and review the valuation ofproperties
held as collateral against the main property loans. In addition,
theFinancial Regulator engaged Jones Lang LaSalle for financial and
propertyconsultancy services in relation to the Bank Guarantee
Scheme.
The National Treasury Management Agency engaged Merrill Lynch
for investmentbanking advice up to 30 June 2009. In addition, the
NTMA has also retained aneconomist.
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232425262728293031323334353637383940414243
Internal D/Finance draft document. Creation of a National Asset
Management Ag ency. Preliminary Assessment byMerrill Lynch. 7 March
2009.Arthur Cox Report. First Draft. Sunday 8 March 2009. Strategic
Plan for the Structural Implementation of the
NAMAInitiative.Merrill Lynch. National Asset Management Agency -
Introduction. Presentation of 1 1 March 2009.Merrill Lynch.
Presentation to NTM A. Real Estate Market Update. March
2009.Rothschild. Responding to the financial crisis. Developing a
policy framework. 12 March 2009.Arthur Cox document: Strategy Paper
for NAM A Implementation. March 2009.Peter Bacon & Associates
Economic Consultants. "A Bad Bank, Solution to the Irish Banking
Crisis: How it wouldReduce if not Avoid Further Exchequer
Exposure." 20 March 2009Report of Special Advisor at NTMA.
Evaluation of Options for Resolving Property Loan Impairments and
AssociatedCapital Adequacy of Irish Credit Institutions. 20 March
2009.Internal D/Finance document: Bacon Report: State aid
aspects.Arthur Cox document. Initial Draft for Discussion Purposes.
National Asset Management Agency. Primary LegalDecision Points. 6
April 2009.Jones Lang LaSalle Report. Section 1 - Atlas.To evaluate
the valuation methodology and comment on the robustness of the
approach.Memorandum from Arthur Cox Solicitors. Subject: NAM A -
Transfer of non-Irish Assets. 27 April 2009.Memorandum from Arthur
Cox Solicitors. Subject: NAMA Proposal - Transfer of Assets. 30
April 2009.Memorandum for the Minister for Finance and the Attorney
General. NAMA Steering Group of NAMA Policy Issues.4 June
2009.HSBC. Project Neo. Heads of Bill (draft received 19 June
2009). HSBC comments.Price WaterhouseC oopers. Project Parade.
Review of Loan Loss Impairments. Working draft for informa tion
purposes.8 July 2009.HSBC. Proposed Approach to defining
Eligibility Criteria in the context of NAMA. 13 July
2009.Rothschild: Strategic options for sectoral restructuring,
post-NAMA . 24 August 2009.Rothschild: NAMA - Further
implementation considerations. August 2009Rothschild: NAMA -capital
impact analysis. 30August 2009.Price WaterhousCoopers: Summary
Findings.
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