The European Commission were assessing if the transfer fell within EU state aid laws.
The transfer of the impaired assets had to satisfy predefined transparency, disclosure requirements and adequate burden sharing.
The Commission continues to rely on the commitments of the Irish authorities to ensure that NAMA does not lead to undue distortions of competition.
The transfer of the first tranche of assets to NAMA was allowed by the Commission to remedy a serious disturbance in the Irish economy allowed under Article 107(3)(b) of the EU Treaty.
Chairman of NAMA Mr Frank Daly has welcomed the decision on behalf of the Board of NAMA.
Mr Daly said that this demonstrated that the transfers were fully in accordance with EU state aid rules, with the Act and the associated statutory regulations.
Chief Executive of NAMA Mr Brendan McDonagh has said that the approval of the transfer is a significant expression of confidence by an independent body in NAMA.
