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The Asset Management Corporation (AMCON) Bill was signed into law on July 19th. You can call it the “Bad Bank Bill”. It will create the company (AMCON) that will buy the bad debt from the banks. The hope is that it will stimulate bank lending and ensure the health of the banks.
Here is CBN‘s press release after the bill was signed:
CBN Press Release On The Signing Of The AMCON Bill
Vetiva Banking Update – July 2010 – Analysis Of Bad Bank Bill
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