Lucinda Creighton (Dublin South East, Fine Gael)
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Question 155: To ask the Minister for Finance his views on the findings of the Draft Business Report on the National Asset Management Agency; the role his Department played in the decision to draft it; if the assumed 20% default rate reflects on his Department's assumptions; and if he will make a statement on the matter. [39061/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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While the actual NAMA Business Plan will not be published until the NAMA legislation has been enacted, and the Board has been appointed, I instructed the interim NAMA managing director to draw up a draft Business Plan, setting out how NAMA will carry out its functions and duties, on the basis of the information that was already available to him. I saw the draft Plan as a key element to informing the debate on the NAMA legislation as it progressed through its various stages. That is why I ensured that copies of the draft Plan were distributed to all members of both Houses of the Oireachtas as soon as possible after the interim managing director has submitted it to me.

I believe the draft business plan produced by the interim NAMA team is a substantial body of work, which casts a significant degree of light on the targets of the Agency, the way it will organise its business and the assumptions that underpin its targets.

I would remind the Deputy that the data on which the draft Plan is based, including the 20% default rate referred to by the Deputy, are provisional in nature. Definitive figures will not be available, until NAMA is established and it has had the opportunity to assess in detail the loan books involved.