Seanad debates
Wednesday, 11 November 2009
National Asset Management Agency Bill 2009: Committee Stage (Resumed)
1:00 pm
Liam Twomey (Fine Gael)
The way it is structured in the Bill means that Allied Irish Banks and Bank of Ireland must try to put funds aside for Anglo Irish Bank's losses. Anglo Irish Bank is more likely to have the larger losses in the loan book that is transferred to NAMA. If a surcharge is imposed in ten years, it appears AIB and Bank of Ireland will have to make allowances for that.
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