Sunday 23 April 2017

Maeve Dineen: NAMA forces local bankers to get tough

Some of our wealthiest doctors, solicitors, teachers and gardai must have breathed a sigh of relief last week when, amidst all the furore over bank nationalisation and the billions more going into Anglo, Finance Minister Brian Lenihan announced that loans of under €20m would no longer be transferred to NAMA.

The Department of Finance is now leaving smaller loans of less than €20m with the individual banks and only handing over large-scale property loans to the National Asset Management Agency.

The threshold for loans going to NAMA had previously been set at loans of €5m or more.

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