No need for NAMA to borrow, says NCB

NAMA will not need to borrow from investors to fund its operation, according to a new report.

Though the Government will have an obligation to stand behind its debts, the NAMA bonds being issued by the state to cover the €54bn in loans transferring across to the bank are in effect IOUs.

And according to a new NCB analysis the only addition to the Government debt as a result of the setting up of the bad bank will be the funds raised to recapitalise the banking sector.