The NAMA figures

From the RTÉ report, NAMA will pay €54billion for €77billion worth of loans from the banks. According to the Minister, the market value of the properties underpinned by the loans is approximately €47billion. [Adds should have linked Mick’s post]. From the detail

* The breakdown among the five institutions is: Anglo Irish €28bn, AIB €24bn, Bank of Ireland €16bn, EBS €1bn, Irish Nationwide €8bn.
* The average loan to value (LTV) rate for these loans is approximately 77%.
* Around €9bn of the €77bn is interest roll-up, or interest payments postponed.
* 66% of the loans are in the Republic, 21% in Britain, 6% in Northern Ireland, 3% in the US and 4% in Europe.

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  • noel adams

    Joan Burton TD got the minister to firm up the position on intrest payments on developers.If 9 billion has been rolled over in two years its well done Joan.

  • Itwas SammyMcNally whatdoneit

    “The Minister said that the banks should be grateful to the citizens of Ireland for the protections the measures will bring.”

    The Plain People of Ireland would rather see the ringleaders in prison where they belong rather than be fobbed of with gratitude.

  • My own thoughts are [url=http://roevalleysocialist.blogspot.com/2009/09/nama-theft-on-massive-scale.html]here[/url]. NAMA is theft, and a half-arsed one at that.

  • kensei

    If the market value is 47 billion, why are they paying 54 billion? They should pay the market valeu and take equity as appropriate if the banks need more money