Financials
Dáil votes in favour of NAMA Bill
Friday, 6 November 2009 14:14The NAMA legislation is being amended to give the Minister for Finance power to issue guidelines to the banks to improve the flow of credit to small and medium businesses.
The Dáil concluded the debate on the legislation last night with the house voting 77 to 73 in favour of the NAMA Bill. It now goes to the Seanad.
During yesterday's debate, Finance Minister Brian Lenihan opposed a Labour amendment which proposed a two-year moratorium on banks pursuing mortgage defaulters. But he said the Government would engage with the banks on the issue and discuss having part-equity arrangements, interest only payments and other mechanisms to ensure that basic security remained.
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