EU could formally approve NAMA in days – clearing way for transfers

THE EU could formally approve NAMA by the end of this week, allowing for the first transfer of loans to the bank to begin.

The Reuters news service reported yesterday evening the European Commission is set to make a decision by the end of the week, something which seemed to contradict earlier claims by the Department of Finance that first transfers weren’t now likely to be made until the end of March.

Speaking earlier yesterday, Finance Minister Brian Lenihan said the first round of loans will befinalised in the next few weeks, “in parallel with EU approval” and full disclosure on the nature of the discount being paid by Government will be made then.