Peter Power (Limerick East, Fianna Fail)

We should examine the Minister's proposal and stress test it against the proposal before the House. Deputy Bruton's point is that there is a distinction to be drawn between default on a loan and proceedings being instituted. There are probably very few people in the House who, at some stage, perhaps in their youth, have not fulfilled all their obligations on all their loans at all times. I certainly cannot say that I have. Does that mean all of people's confidential details with a financial institution, if they have never had proceedings instituted against them, ought to have their details disclosed in public? It is a step too far that the public would not support.

I agree that if proceedings are initiated against a particular developer or other person subject to the Bill, his name might be included. In that respect I draw Members' attention to amendment No. 59 that will introduce a new section 53 on the quarterly report, a concession arising from Committee Stage. It states that the quarterly reports shall include the following information for the relevant quarter: the number of all loans outstanding, the condition of those loans categorised between performing and non-performing, with non-performing loans categorised to the degree of default, distinguishing between where the default occurred on capital payments or interest repayments, the number of loans foreclosed and the number of cases where liquidators and receivers are appointed.

The vital information does not relate necessarily to the individual names and details, and I refer to Deputy Burton's point on the prurient examination of these details, it relates to the quality of the information so this House and the committee will be able to make an informed judgment on whether NAMA is working effectively. The question of names being attached to the information does not alter the quality of the information or the ability of this House, or a committee of the House, to make an informed judgment on whether the information shows if NAMA is working effectively. That is the key issue - we must balance the obvious desire for appropriate transparency and scrutiny with the ability of NAMA to carry out its aims and functions, principles and policies in an effective way. Having listened to the Committee Stage debate the Minister brought forward a genuine attempt to introduce quarterly reports with substantial information which will allow a committee of this House to make quality decisions and policies in respect of NAMA's operation.

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