Brian Lenihan Jnr (Dublin West, Fianna Fail)

The NAMA process of valuation and transfer of loans is well under way. Work in several major institutions will be finalised in respect of major lenders at the end of this month. Work is proceeding with considerable expedition. It is essential that the work continues with expedition.

Professional fees are being set at the lowest possible level on foot of the tenders issued by NAMA. I am satisfied these precautions are essential to protect the taxpayer in respect of the acquisition of these loans, something that was very much to the fore in parliamentary debate on this subject.

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