Small loans worth €12bn could transfer to NAMA

SMALL loans with a total nominal value of €12 billion may be transferred to NAMA if lenders do not come up with feasible plans for running such loans down, government documents showed.

Under a revised agreement between the Government and its EU/IMF creditors, Dublin has halted the transfer of land and development loans with individual exposures of under €20 million to NAMA.

In the revised deal, published in full yesterday, the Government said Allied Irish Bank and Bank of Ireland had until the end of this month to provide contingency plans for running such loans down.