Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The surplus has to be put in the context of the crystallisation of losses of over €40 billion when the NAMA transfers went through from 2009 and 2010 onwards.

On the timeline, there is a need for clarity on the work NAMA will be undertaking from the date of the last portfolio sale which, if I heard him correctly, the Minister has signalled is likely to be at the end of this year. He is saying, however, that the agency will continue to operate until 2020–21. My understanding all along was that the agency would complete its work and be wound up by 2020. The Minister might clarify what the agency will be doing from the time of the sale of the last loan portfolio. Managing loan portfolios was its core function. What will it be doing from the last sale until it is wound up? The Minister mentioned the Dublin docklands SDZ and the delivery of other housing programmes.

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