Pearse Doherty (Donegal South West, Sinn Fein)

I find this bizarre. I have listened to the Minister of State's response in explaining how the EIR accounting practice works. In the first three quarters of 2011 NAMA reported an operational profit of €526 million. This is before impairment charges which are likely to wipe out that profit and result in NAMA having an operational loss are taken into account. We can all accept this. Let us forget about the impairment charges. Of the operational profit of €526 million NAMA states it made, it did not receive €249 million. It is booking interest on loans it has not received because it is using the EIR accountancy method. It may never receive this money. Does the Minister of State agree that, at a minimum, NAMA should report the actual amount in interest received on the loans during those quarters alongside what is projected in order that there would be a clearer and truer picture for the public?

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