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Fri 09 Sep 2010Anglo applied lower value to Nama bonds than banks
STATE-OWNED Anglo Irish Bank applied a lower value to the first State-backed bonds received from the Government’s National Asset Management Agency than Allied Irish Banks and Bank of Ireland on the first loan transfers, according to the banks’ half-year accounts.
The decision by Anglo to value the Government-backed bonds or IOUs from Nama at a lower value than AIB and Bank of Ireland may cost the State an estimated €1.4 billion, depending on the final value assigned to them in its accounts.
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