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Thursday 22 February 2018

It's going to be a Super Tuesday

Thomas Molloy

Thomas Molloy

THE National Asset Management Agency (NAMA) said yesterday it would delay publication of the crucial information on how much it will pay lenders for their loans until tomorrow.

That will make a 'Super Tuesday' during which some of the banks will discover how much they stand to get from the State. NAMA delayed publication for about 24 hours amid a bitter dispute with Allied Irish Banks (AIB) over the correct amount to pay.

NAMA will publish the figures for Bank of Ireland (BoI), EBS and Irish Nationwide tomorrow, but will not publish the figures for AIB and Anglo Irish until Thursday or possibly early next week.

Either way, loans from BoI, EBS and Irish Nationwide are due to begin transferring to NAMA this week, while loans from AIB and Anglo are expected to begin moving next week.

The announcement from the 'bad bank' will probably be made after the stock market closes. Around the same time, Financial Regulator Matthew Elderfield is due to make a statement on how much capital banks will have to hold in the future.

Shortly after, Mr Lenihan is expected to address the Dail on the future of banking in Ireland. He is expected to confirm the cost of the bailout and the amalgamation of the Central Bank with the Financial Regulator.

Irish Independent

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