Written answers

Wednesday, 16 September 2009

Department of Finance

National Asset Management Agency

9:00 pm

Photo of Olivia MitchellOlivia 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]

Photo of Brian Lenihan JnrBrian 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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