17. Amounts Due (to) / from Participating Institutions
NAMA legally acquired overdraft accounts attached to debtor loan accounts in 2010 and 2011. At 31 December 2014 the following amounts were receivable from and payable to the Participating Institutions for cash collected or paid out by the Participating Institutions in relation to NAMA debtors’ overdraft accounts. Amounts due are generally only settled by NAMA and the Participating Institutions upon a terminating event such as account closure. Amounts settled may differ to the balances reported at year end. All amounts are classified as current.
Unsettled overdraft positions| Group | Receivable €’000 |
Payable €’000 |
|---|---|---|
| Balance at 31 December 2013 | 78,447 | (24,676) |
| Movement in overdraft accounts during the year (Note 19.8) | 6,363 | 4,248 |
| Balance as at 31 December 2014 | 84,810 | (20,428) |
All overdraft accounts held with BOI were closed and a number of them were converted to loans as at the reporting date. There are eight settlement amounts yet to be agreed and these have not been included in the closing overdraft positions above.