NAMA legislation at report stage

The Dáil has begun the work of moving NAMA a step closer to existence.

The report stage of the legislation is being debated today and tomorrow.

It will involve major changes with 135 amendments put down for consideration.

These will include a tax surcharge on bank profits in the event of NAMA making a loss, and the provision of powers to the Finance Minister to instruct banks to increase credit to any sector of the economy.

But the Opposition, including Fine Gael's Richard Bruton, is still demanding more Oireachtas oversight of the agency: