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Source: Reuters - Fri 13th Nov 2009

Ireland's 54 billion euro "Bad Bank" will start transferring the biggest property loans from commercial banks from January onwards, Finance Minister Brian Lenihan said on Friday.

Banks will formally confirm before the end of this year whether they wish to participate in the National Asset Management Agency and "we will then start transferring the bigloans from January on" Lenihan told public radio RTE.

The government earlier said that NAMA would start transfers by the end of the year and on Thursday Lenihan told reporters itwas a "matter of weeks".

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