NAMA Mark II could take control of banks’ good assets

THE banking authorities may set up a NAMA Mark II to take control of billions of euro worth of good assets currently held by the Irish banks, as part of the enforced strategy insisted on by the IMF and the ECB as part of the €85bn bailout.

The National Asset Management agency has acquired over €70bn in bad property loans from the banks, but the next phase could involve a number of options, a spokesman for the Central Bank said.

The plan will be to “secure the future the Irish banks”, he said, and will be agreed in conjunction with the ECB and the IMF.