NAMA: Banks did give misleading information but not to agency

NAMA is expected to tell a Dáil committee next week that some banks did issue misleading information about the value of their loans.

But the key question now will be whether the banks broke any laws by doing so.

NAMA is the state agency established to take over the banks’ risky property loans. Its chief executive, Brendan McDonagh, is being recalled to the Dáil Public Accounts Committee next week to explain what has been called a “U-turn” over evidence he gave to the committee. However, one well-informed source has now said it wasn’t a question of a U-turn but nuance.