Nama became aware that confidential data had been misappropriated by one of its employees, Enda Farrell, on Aug 12 but the agency did not notify the gardaí for another month, its chairman, Frank Daly, told the Oireachtas committee on finance.

NAMA has altered its management structure — in line with recent recommendations — and is seeking tax returns of smaller developers, to gauge the full extent of the value of their assets.

NAMA could sell off all of its British property loans within two years, according to its head of lending and corporate finance Graham Emmett, marking a rapid acceleration of its sales plans there.

NAMA has completed the transfer of the first €10bn tranche of loans from Anglo Irish Bank at a substantial discount of 55%.

The National Assets Management Agency (NAMA) has completed the transfer of the first batch of loans from Anglo Irish Bank.