NAMA set to take over first tranche of loans

IT is expected that the transfer of the first tranche of bad bank loans to the National Asset Management Agency (NAMA) will happen shortly.

Up to €16 billion is due to move across in the initial wave of loans and the Department of Finance confirmed this will happen “in the coming weeks”.

A department spokesman confirmed yesterday it expected clearance for NAMA to be given by the European Commission within a similar time frame, while the possibility of transfers being completed by the end of the month has not been ruled out.