Gerry Adams
Ceist:155 Deputy Gerry Adams asked the Minister for Finance if he will provide a detailed breakdown of the National Asset Management Agency’s projected costs in 2012. [10875/12]
Amharc ar fhreagraTuesday, 28 February 2012
Ceisteanna (113)
Freagraí scríofa
The NAMA annual statement, which was produced in September, 2011 projected costs for the year in the region of €242 million. This was based on a preliminary review carried out in September 2011. A further more detailed review was carried out in December/January based on the costs outturn for 2011. Taking this information into account, it is projected that annual costs in 2012 will be €194m. I am advised by NAMA that most of the difference is explained by the Agency's review of projected insolvency costs which are now expected to be substantially less than originally expected. The detail of the projected costs for the Agency for 2012 is set out in the following table:
|
NAMA Direct expenses |
€m |
|
Primary servicer/master servicer fees |
75 |
|
Legal fees |
25 |
|
Reimbursement to NTMA as service provider |
44 |
|
Accounting/audit fees |
2 |
|
IT/MIS costs |
2 |
|
Miscellaneous costs |
13 |
|
Total direct expenses |
161 |
|
NAMA Indirect expenses |
|
|
Recovery/insolvency costs |
33 |
|
Total projected expenditure |
194 |