Dáil Éireann Debate, Wednesday - 10 March 2010
74 Deputy Damien English asked the Minister for Finance if he has received any report from the National Asset Management Agency on the progress of its work; and his views on whether the draft business plan still represents the best projection of the performance of the portfolio of bad loans that are to be acquired. [11600/10]
Amharc ar fhreagraThe CEO and Chairman of NAMA brief me on a regular basis about the progress of NAMA. There are also substantial provisions in the Act dealing with transparent reporting by NAMA and oversight of NAMA by the Oireachtas. The Act provides for NAMA to submit to me quarterly reports, which I shall lay before each House of the Oireachtas, as well as sending a copy to a Committee appointed by the Oireachtas to deal with NAMA. The publication of a Business Plan is a matter for the Board of NAMA which was appointed in December 2009. I am aware that the Board proposes to review the draft Business Plan published in October 2009 in the light of the extensive due diligence process currently under way and that any update to the Plan will be informed by the valuation of loans being transferred over the coming months. I am advised by NAMA that the NAMA Board proposes to publish a revised Business Plan by the 30th June 2010.
