NAMA Operations

Dáil Éireann Debate, Wednesday - 17 September 2014

Wednesday, 17 September 2014

Questions (262)

Stephen Donnelly

Question:

262. Deputy Stephen S. Donnelly asked the Minister for Finance further to the publication of the report by the Comptroller and Auditor General into the operation of National Asset Management Agency on 20 May 2014, which recommended that NAMA adopt a target annual rate of return, and following the appearance by NAMA at the Committee of Public Accounts on 29 May, when the chief executive officer of NAMA rejected the Comptroller and Auditor General's proposal, his plans to direct NAMA to adopt a target annual return on investment; his views on NAMA’s rejection of the Comptroller and Auditor General’s proposal; and if he will make a statement on the matter. [34243/14]

Written answers

Minister for Finance

I am advised that NAMA is currently reviewing its options with regard to the C&AG's recommendation. As was pointed out by the NAMA Chairman at a meeting of the Public Accounts Committee in May, NAMA already has in place a high-quality Management Reporting and Key Performance Indicator (KPI) infrastructure. In that context, NAMA is assessing what incremental benefit, if any, a potential rate of return analysis would yield.

My officials have been in contact with NAMA regarding this issue since the C&AG's proposal and I look forward to hearing the outcome of NAMA's considerations in this regard.