NAMA team still haven’t seen €77bn loan files

THE Government has still not seen the records or books of up to €77 billion worth of development loans that it will soon take over from the country’s banks.

Just weeks before the National Assets Management Agency (NAMA) is passed into law, the Department of Finance has admitted that its plans are based on “aggregate data which has been provided by the institutions”.

The department has not been able to “verify the integrity of the data” because “the NAMA team has not had direct access to individual transaction records and loan files”.