First NAMA transfers fall further behind schedule

THE first transfer of loans from the troubled banks has fallen further behind schedule. Initially, the time-scale for the transfer of up to €19 billion of bad loans to the National Asset Management Agency was before Christmas 2009.

That initial date wasn’t met and in a new note on the deadline NCB Stockbrokers said yesterday it will be the end of the month before the first loan transfers will now happen.

Ciaran Callaghan, analyst with NCB said the banks probably had significant “administrative” hurdles to deal with concerning the loans being transferred to NAMA.