National Asset Management Agency Chairman Frank Daly has said the agency has been active in identifying a number of potential sites for the proposed Children's Hospital.

However, Mr Daly said the agency does not have a view of where it should be located.

He was speaking before a Joint Oireachtas Committee on Finance.

An Bord Pleanála last month rejected plans for a children's hospital on a site at the Mater Hospital in Dublin.

Mr Daly also hit back at claims that the agency has frustrated job creation projects.

He told the committee that such allegations were "wide of the mark" and the agency had aided job creation.

NAMA Chief Executive Brendan McDonagh said 31 developers had reversed the transfer of assets, which had been put beyond the control of the agency.

These reversals were to the value of €160m, which now means the agency can seize the assets.

He said NAMA was pursuing 22 developers through the courts in relation to asset transfers. These assets have a value of €500m.

Mr McDonagh said that NAMA borrowers own 20 golf courses, but there are 400 courses across the country.

The agency has received approval from the Central Bank and Department of Finance for its proposals for aiding the sales of residential property.

The European Commission has yet to approve the measure.

NAMA expects its costs to be €194m in 2012, while 80% of the agency's cashflow has come from the UK in the form of asset sales and repayments by developers.

'Huge challenge' to recover €31.6bn

Mr Daly said the agency's aim was to recover the €31.6bn spent on buying assets, plus costs and interest. He said it would be "a huge challenge".

He added that every time the Troika visits Ireland Mr McDonagh "is hauled over" to explain how the agency is paying down its debt.

Mr McDonagh told the committee that NAMA has had 150 applications for rent reductions and approved 120 of the requests.

He said he believed the residential property market was down 57 or 58% but it had yet to show up in the CSO property index.

He added the commercial market was down 65%.

The two men also rejected suggestions that the agency was lobbied by Government Ministers.

Mr Daly said that from time to time people bring things to the attention of NAMA regarding what is going on, but he said there was no case of lobbying of NAMA.

Mr McDonagh said if Government decided NAMA is subject to Freedom of Information then that is something the agency would have will deal with.