AIB seek to reduce Nama loans
It has emerged that AIB may have lobbied the Irish Department of Finance to cut the amount of loans tied to land and development finance under €20million being moved to Nama.
Nama Property / Development Loans
It has been reported by The Irish Times that the bank may have raised concern that too many loans associated with Nama-land and whereby loans from debtors where said property represented only part of their borrowing at Allied Irish Banks.
AIB apparently did not respond on the issue.
What is a Nama loan?
Under the The National Asset Management Agency Bill 2011 many property and land development loans will be transferred to Nama under the recent EU/IMF agreement.
The recent amendment means loans under the previous €20million will now be considered.
The Irish Economy
On Wednesday the Government published legislation which brought forward the purchase of up to 20,000 loans from the AIB and Bank of Ireland.
A turbulent week for Irish politics in general, many economists are looking nervously at any legislation passed in the hope that it will reduce the perceived problems with the Irish economy.
Article by LoansIreland.ie.
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