# Summary of loans transferred to NAMA



## Marion (30 Mar 2010)

Nama first loan transfers announced today, 30 March 2010:

1200 loans




|
*Institution*
|
*Book value{br} of*
  {br}
*loans*
*acquired*
|
*Value of securities*
{br} 
*exchanged{br}for loans  *
|
*Discount  *
|
*Discount*
|
|
|Allied Irish Banks Plc|€3.29 billion|€1.88 billion|€1.41 billion  |43%|
|Anglo Irish Bank|€10.0 billion|€5.0 billion|€5.0 billion|50%
|Bank of Ireland|€1.93 billion|€1.26 billion|€670 million|35%
|Irish Nationwide{br}Building Society|€670 million|€280 million|€390 million|58%
|EBS Building Society|€140 million|€90 million|€50 million|37%
|
|Total|€16 billion|€8.5 billion|€7.5 billion|47%
Only another 14,000 loans to take over!

Marion


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## Brendan Burgess (30 Mar 2010)

Marion

That's a really helpful summary. Thanks


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## tiger (30 Mar 2010)

This is just the first set of loan transfers, €16Bn of a total €81Bn.


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## shnaek (31 Mar 2010)

Does it now follow that average house prices should be 47% below their peak?


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## Marion (31 Mar 2010)

Thanks pjmn and shnaek. I have corrected my typo regarding BoI. 

www.nama.ie

Marion


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## Marion (31 Mar 2010)

These are the underlying assets for the €8.5 billion: 




|
*Type of underlying asset*
|
*Value of securities*
{br}
*exchanged*
{br} 
*for loans*

|
|Investment property|€5.5 billion|
|Land (including development {br}less than 30% completed)|€1.3 billion|
|Hotels|€0.8 billion
|Development{br} (greater than30%{br} completed)|€0.5 billion
|Residential property{br} for resale|€0.4 billion
|
|
*Total*
|
*€8.5 billion*
|www.nama.ie


Marion


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## Potatoeman (31 Mar 2010)

shnaek said:


> Does it now follow that average house prices should be 47% below their peak?


  I wouldn't hold your breath as there are concerns that if people think they are in that level of negative equity they will default on their mortgage. The flip side of that is first time buyers are not going to buy anytime soon as the watch prices slowly creep down.


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## Allen (31 Mar 2010)

shnaek said:


> Does it now follow that average house prices should be 47% below their peak?


I think that would be the case if they were all 100% mortgages. You can add another 10% at least if the average were 90% mortgage. [Although these loans are not all for residential related property.]


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