The National Asset Management Agency (NAMA) is a body due to be created by the Government of Ireland in response to Ireland's deflated property bubble and financial crisis. It will function like a bad bank and is due to take land and property development loans off the books of main Irish banks and house them in the new agency. The potential book value of the loans which will be purchased will be between €80 billion and €90 billion. NAMA will be established on a statutory basis, under the aegis of the Irish National Treasury Management Agency.
contributed by user John Hickey
Think you know a phrase that should be here? Help us improve the site by adding it.