The Irish Independent reports that the National Treasury Management Agency (NTMA) has revealed the extent of Irish banks’ toxic loans for assets elsewhere which are “eligible for acquisition by NAMA”. Although the report notes that – “NAMA has yet to say how much Irish banks lent to fund developments on mainland Europe.”
The National Treasury Management Agency (NTMA), which is seeking the valuers, still refuses to say what proportion of assets are development land, vacant properties, investments or hotels. But the agency has, for the first time, indicated how much of the 90bn toxic debt is based abroad. “It is estimated the Great Britain portfolio of loans which may be eligible for acquisition by NAMA is approximately 25bn. No further detail on the composition of this portfolio will be made available at this time,” the agency said. “It is estimated that the USA portfolio of loans which may be eligible for acquisition by NAMA is approximately 3bn.”