Credit servicing firms, which manage mortgages on behalf of so-called vulture funds, only paid €18,000 in fees to the Central Bank compared to €16.7m paid by banks, it has emerged. 

The information was disclosed in a Dáil reply to Fianna Fáil's finance spokesman Michael McGrath by the Minister for Finance Paschal Donohoe. 

The figures relate to 2016 - the latest year for which data is available.  

In 2016, banks classified as "high impact" or "ultra high impact" paid a total of €16.7m in fees. 

"This is another demonstration of just how ludicrous the present arrangement the Government has with these vulture funds is," Deputy McGrath said.

He added that despite controlling tens of billions of euro of Irish loans, the unregulated vulture funds do not pay anything to the Central Bank towards the cost of regulation because they unregulated.  

He said that the credit servicing firms pay "minuscule amounts" to the Central Bank by way of fees.

Mr McGrath said the information underlined the urgent need for vulture funds to be directly regulated and to pay the cost of that regulation to the Central Bank.