Banks will keep €6bn loans bound for NAMA
Under the original regulations agreed last February, all loans with a value of more than €5 million issued by the banks were to go to NAMA – an estimated total of €80 billion worth of loans involving 1,500 borrowers.
However, that process has proved more complex than expected and is taking longer than hoped, and NAMA is running out of time as it is working under a European Commission deadline for completion of the transfers by the end of the year ideally and definitely by next February.
