National Asset Management Agency

The National Asset Management Agency (NAMA; Irish: Gníomhaireacht Náisiúnta um Bhainistíocht Sócmhainní) is a body created by the Government of Ireland in late 2009 in response to the Irish financial crisis and the deflation of the Irish property bubble. NAMA functions as a bad bank, acquiring property development loans from Irish banks in return for government purple debts bonds, ostensibly with a view to improving the availability of credit in the Irish economy.

Source: Wikipedia — National Asset Management Agency (CC BY-SA 4.0)