Joan Burton (Dublin West, Labour)
Link to this: Individually | In context

Question 74: To ask the Minister for Finance if he will provide for the extension of the range of assets eligible for transfer to the National Asset Management Agency to include commercial debt, residential mortgages, or other consumer debt; if the NAMA legislation will include a ceiling on the value of assets eligible for transfer; and if he will make a statement on the matter. [27992/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

The objective behind the establishment of NAMA was to deal with the riskiest assets on the balance sheets of Irish banks, which were preventing banks from lending into the economy and thereby supporting economic recovery. In that regard, all land and development loans and certain associated exposures of each eligible institution will be considered for transfer to NAMA.

There are no plans to extend NAMA beyond development property related loans and associated exposures.