Banks to slash saver interest after Nama

Banks are likely to reduce the interest they pay to savers following the establishment of the National Asset Management Agency (Nama), analysts have warned.

15th August, 2009

Banks are likely to reduce the interest they pay to savers following the establishment of the National Asset Management Agency (Nama), analysts have warned.

The banks that take part in the scheme are expected to cut interest rates on deposit offerings, as the new bad bank will help to ease the pressure on their liquidity profiles through the issue of government bonds in return for stressed property loans.

Banks will use these bonds to tap...

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