Róisín Shortall (Dublin North West, Labour)
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Question 76: To ask the Minister for Finance if he will take the necessary steps to make the Central Bank, the Financial Regulator, the State-owned Anglo Irish Bank, the National Treasury Management Agency and associated agencies, including the National Asset Management Agency, subject to the Freedom of Information Acts; his views on whether that would improve the transparency of sections of the public service and financial sector which have suffered reputational damage in recent years as the banking crisis evolved; and if he will make a statement on the matter. [44881/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Government has decided to implement significant changes in financial regulatory structures and in this regard I shall be bringing forward legislative proposals early next year relating to the Central Bank and Financial Services Authority of Ireland (CBFSAI). Accordingly, it is not an appropriate time to consider the possible extension of the FOI Act to that organisation. Significant issues relating to the confidential and commercial sensitivity of much of the information within the possession of that organisation, the international framework of its operations and its role in maintaining and protecting the financial stability of the State would have to be taken on board in any consideration of this matter.

With regard to the National Treasury Management Agency and associated agencies I do not propose to extend FOI to these bodies for reasons of commercial sensitivity. In relation to the Agency's role as the State Claims Agency, most of its work is covered by legal privilege and no apparent merit is perceived in a partial application.

In the case of the National Asset Management Agency (NAMA) it is necessary to bear in mind that NAMA will have a commercial mandate to obtain maximum value for the taxpayer and, to achieve this objective it will be required to enter into complex commercial negotiations with financial institutions and developers, the nature of which will require in many instances a high degree of commercial confidentiality. In view of this I believe it is not appropriate to extend FOI coverage to NAMA.

As a matter of policy the Freedom of Information Act has not been extended to commercial State bodies for reasons associated with the need of such bodies to compete commercially. Commercial State bodies operate in a different environment to non-commercial State bodies. To bring a commercial State body under the Freedom of information while other companies in the same sector remain excluded could place such a body at a significant commercial and competitive disadvantage. Therefore as Anglo Irish bank is a commercial State body there are currently no proposals to extend FOI to the bank.

In summary, extension of Freedom of Information to any of these bodies must always be balanced against the need for them to operate in difficult competitive environments where such disclosure would significantly disadvantage them in their various activities.