Anglo Irish Bank has officially begun the process of selling its $10bn US loan book.
The assets include properties in New York, Boston, Chicago and on the west coast.
Anglo Irish's portfolio includes assets such as the Mandarin Oriental hotel in Boston and loans on the Apthorp condominium conversion project in New York and the Palmer House Hilton in Chicago.
The bank is expected to sell the loans at a loss depending on the appetite for commercial real estate.
Taoiseach Enda Kenny said that he expects there to be a genuine and significant response by mid- to late August.
