Bank Claims “would have cost € 20 billion Nama”
It had led to an additional € 20 billion is given to them for the benefit of their shareholders and bondholders. if it had not conducted detailed due diligence on the banks loan books, the extra public funds transferred have prevented banks are placed into public ownership. It may believe that banks had deliberately given false information; this was a matter for other parties such as the transfer of information that occurred before the law establishing the agency was adopted. The fact was that incorrect information was supplied. This in turn led to the view that discounts on the loans would be purchased in the order of 30 percent.
In the event that the rebate was an average of 58 percent. While not an exact science, working back from this figure led him to believe that the true LTV had been 100 percent. Banks fought for their lives in the summer and autumn of 2009 and it seems to me that they were willing to do whatever was necessary to stay out of the control of the state. It is understood the action was initiated by the agency during the holiday period to the transfer of approximately € 500,000 to stop a bill, which was due to mature and that the agency feared it would be transferred out of her reach.