Ireland sets to value bad bank

The Irish government has issued a tender seeking a derivatives valuer for its “bad bank”, following invitations for firms to assess the loans and real estate collateral it will acquire. The publication of the tenders is one of the clearest signs yet that Dublin is moving closer to launching the National Asset Management Agency (NAMA) to cleanse banks of up to €90bn (£78bn) of risky property loans. The group is aiming to seek the value of loans and credit facilities to be acquired by NAMA from banks including Allied Irish Banks and Bank of Ireland.