Commission cracks down on Nama’s remit

The government has come under pressure from the European Commission to provide explicit assurances that the National Asset Management Agency (Nama) will not extend its activities beyond property loans, without seeking approval from the commission.

31st October, 2009

The government has come under pressure from the European Commission to provide explicit assurances that the National Asset Management Agency (Nama) will not extend its activities beyond property loans, without seeking approval from the commission.

Measures will be incorporated into the Nama legislation, which is currently making its way through the Oireachtas, to reassure Brussels that the new bad bank will formally limit its scope to buying property development and associated loans.

The moves to...

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