An dtuigeann tú cúrsaí airgeadais?
Colm Ó Broin
Ó THÁINIG ‘caiptleachas an chasino’ chun cinn tá sé ráite go minic go bhfuil sé beagnach dodhéanta an méid a bhíonn ar bun ag lucht na margaí a thuiscint. Go minic ní thuigeann lucht na margaí iad féin céard atá siad a dhíol nó ag cheannach.
Mar sin tá Gaelscéal ag iarraidh a fháil amach cé mhéad dár gcuid léitheoirí atá in ann freagra a thug an tAire Airgeadais, Michael Noonan, sa Dáil an tseachtain seo caite a thuiscint. Chuir Pearse Doherty ó Shinn Féin ceist air faoi €15.9m de theacht isteach a bhí luaite i gcuntais NAMA do 2011. Rinneadh cur síos ar an ioncaim seo mar “hedge ineffectiveness adjustment.”
Seo freagra an Aire:“I have been informed by NAMA that the ‘hedge ineffectiveness’ adjustment of €15.9 million relates to interest rate swap contracts which were entered by the National Asset Management Limited Group (‘the Group’) to hedge its exposure to cash flow variability arising from interest rate risk in its portfolio of debt securities. These interest rate swap contracts were formally designated into hedge relationships during 2010 when the fair value of these derivatives was an unrealised loss of €30.4m. This unrealised loss was recognised as a fair value loss in the income statement in 2010. In accordance with the Group’s accounting policy for derivative financial instruments and hedge accounting (as per note 2.10 of its Q4 2011 accounts), this loss is being amortised from the Income Statement to the cash flow hedge reserve as ‘hedge ineffectiveness’ over the remaining life of the derivatives.”