Written answers
Wednesday, 16 September 2009
Department of Finance
National Asset Management Agency
9:00 pm
Olivia Mitchell (Dublin South, Fine Gael)
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Question 247: To ask the Minister for Finance if, in addition to property developer loans, the National Asset Management Agency will purchase any other distressed assets which might be regarded as European Central Bank eligible assets; and if he will make a statement on the matter. [30355/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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It is my intention to designate only land and development loans and associated loans as assets eligible for transfer to NAMA. Associated loans will be those loans which are not in the land and development category but which are held by individuals/companies that also have land and development exposures. Associated loans will take account of cross collateralisation and other associated loan exposures of borrowers.
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