Mr. Brendan McDonagh:

We are operating on behalf of the taxpayer and under certain processes and procedures. Maybe, not everyone likes these processes or procedures.

We have them to ensure we have consistency and there is an audit trail. We accept that certain people do not like this, but that is the way we do business. The time taken in NAMA for making normal decisions is down to an average of four days, which is quite remarkable. We have made 35,500 decisions since the first loan was transferred to us on 31 March 2010. That is a lot of decisions to make and one needs a process around it.