Michael McGrath (Cork South Central, Fianna Fail)
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As the Deputy is aware, NAMA was established in December 2009 as part of the State’s response to the 2008 banking crisis with a very specific legal mandate, which was approved by the European Commission.

NAMA has been successful in achieving this mandate. To date, €3.9 billion has been paid by NAMA to the Exchequer, including €3.5 billion in cash surplus payments and over €400 in Corporation Tax. Additional transfers totalling €1 billion are likely in coming years.

The organisation is undergoing a phased and orderly wind down and NAMA aims to conclude its work no later than December 2025.

As part of this process, my Department will engage with NAMA on the requirement for any legislative changes to facilitate its wind down. It is expected that any proposed changes will be drafted in 2025.