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Ireland's NAMA to buy Anglo Irish loans in 10 days

Source: Reuters - Tue 13th Apr 2010

Ireland's "bad bank" expects to buy its first loans from nationalised Anglo Irish Bank within 10 days, the chief executive of the National Asset Management Agency (NAMA) said on Tuesday.

NAMA has already acquired some loans from the four other institutions participating in NAMA but it has taken longer to work out valuations for Anglo Irish, which is contributing the most assets, NAMA's Brendan McDonagh said.