NAMA Operations

Wednesday, 12 December 2012

Questions (59)

Gerry Adams

Question:

59. Deputy Gerry Adams asked the Minister for Finance further to Parliamentary Question No. 73 of the 28 November 2012, if he will explain the reason the other State debt management and collection agency, National Asset Management Agency discloses the number of borrowers who are or are not cooperating with NAMA, also discloses rental income received in relation to repossessed collateral but IBRC the State’s second debt management and collection agency does not; if he will consider instructing IBRC management to follow similar transparency guidelines as NAMA in these regards; and if he will make a statement on the matter. [55918/12]

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Written answers

Minister for Finance

IBRC is an asset recovery bank authorised and licensed by the Central Bank of Ireland under the Central Bank Act 1971 as a credit institution and an insurance intermediary. In line with its banking peers IBRC’s current practice is to disclose information pertaining to the business on set reporting dates, twice annually.