Taxpayers may be kept in dark over loan evaluations

TAXPAYERS are expected to be kept in the dark over how the state will value property loans bought from six guaranteed institutions when the toxic bank draft laws are published this week.

Legislation establishing the National Assets Management Agency (NAMA) will not contain the full details of how property loans will be evaluated, because the method has not yet been approved by the European Commission.

Instead, the details will be contained in a “regulation” attached to the legislation before it is debated in the Dáil in mid-September.