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The National Asset Management Agency, Spring 2010

  • The National Asset Management Agency Act 2009 (the “Act”) was signed by the President on 22 November 2009 and the Minister for Finance (the “Minister”) signed a commencement order bringing the Act into force with effect from 21 December 2009 (the “Establishment Date”).
    The central objective of the National Asset Management Agency (“NAMA”) is to stabilise Irish credit institutions by strengthening their balance sheets and reducing uncertainty in relation to their distressed loans, so as to facilitate lending to individuals and businesses. Whilst several governments (including the US and the UK) have announced plans to mitigate the impact of distressed assets on the balance sheets of credit institutions in their countries, NAMA is unique in terms of its mechanics.
  • 30.04.2010