Oireachtas Joint and Select Committees
Thursday, 20 September 2018
Public Accounts Committee
National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
9:00 am
Mr. Brendan McDonagh:
Yes. There is a certain fee, set by the European Commission, which we can pay to the banks as part of the overall state aid approval of NAMA in 2010. It is a maximum of ten basis points on the value of the loans but we have been able to negotiate a figure with the banks which amounts to the lower of the cost recovery figure or six basis points.