Monday August 16 2010
Anglo Irish Bank continued the transfer of its second tranche of €8bn in loans to the National Asset Management Agency (NAMA) at the weekend -- and the Irish Independent understands the full amount could be with the agency by next weekend.
Four of the five participating institutions in NAMA -- Bank of Ireland, Allied Irish Banks, Irish Nationwide and EBS -- transferred €5.2bn worth of loans at an average discount of 48pc to NAMA last month.
Anglo had also been due to transfer loans at that time. It is believed the delay in transferring the Anglo loans was due to the amount of due diligence being undertaken on them and the scale of the loan book.
Last month it emerged that just one-quarter of the €15.3bn first tranche of loans transferred to NAMA was being repaid, despite the banks' assurances that 40pc were performing.
