NAMA

Ok, so i wasnt really sure what NAMA was about, at first when I saw it was the topic for a blog, I thought I might have missed a lecture or two and missed a topic. So after a bit of research and help from google i discovered NAMA stands for National Asset Management Agency. Basically it means it is an asset management company dealing with assets tansferred from banks. Its not a bank in the fact that it will not be taking deposits from the public, NAMA will have loans on its books based on real physical assets.

It will buy all of the land and property development loans of the six Irish banks of covered by the State guarantee. The government hopes that by NAMA taking problem property loans off the hands of the banks, those institutions will be in a position where they can continue lending. So this means that NAMA will probably become the biggest landowner in Ireland.

(Source: Money Guide Ireland)