9. They serve to clarify how resolution authorities should take into account the contractual …

They serve to clarify how resolution authorities should take into account the contractual features of instruments issued by the entity subject to use of the bail-in or PONV power which qualify as additional T1 or T2 instruments according to the framework laid down in Regulation (EU) No 575/2013 and Directive 2013/36/EU when determining the order of the writedown or conversion. In some cases the latter framework recognises instruments as capital instruments, but due to particular contractual features they are fully or partially excluded from the calculation of ‘own funds’. Resolution authorities should ensure that the treatment of instruments in the same category of the sequence of writedown and conversion described in Article 48(1) or Article 60(1) of Directive 2014/59/EU is compliant with the creditor hierarchy in normal insolvency proceedings.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.