Tuesday, 13 May 2014

Questions (199)

Stephen Donnelly

Question:

199. Deputy Stephen S. Donnelly asked the Minister for Finance following the report by the National Asset Management Agency for the third quarter of 2013 that it had spent €3,408,000 on what it termed Irish Bank Resolution Corporation integration costs, if he will confirm the cumulative amount expended to date by the National Asset Management Agency on such costs. [21197/14]

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Written answers (Question to Finance)

I am advised that updated information on NAMA IBRC integration costs will be set out in the Agency's Annual Accounts for 2013 and in its Q4 2013 Section 55 Quarterly Accounts, both of which will be published at the end of this month. The costs take account of the necessary preparatory work which was required in the expectation that loans would be acquired from the Special Liquidators. It also includes costs associated with transferring to Capita Asset Services the management of loans of €41 billion par debt which NAMA had acquired from Anglo Irish Bank and INBS and which were being serviced by IBRC up to its liquidation.  Both sets of accounts will be published on the Agency's website, www.nama.ie.