NAMA allays fears of ‘soft touch’ approach

THE scale of the NAMA discounts – ranging from 35% to 58% in the first tranche of loans taken off the banks – shows the bad bank is taking no prisoners when it comes to loan valuations.

The severe writedowns help allay fears that NAMA was going to be a soft touch.

The concern was that NAMA would be too soft on the coterie of developers who mopped up billions in loans from the banks to fuel their gambling mania.