+Article 490 Tier 2 items with an incentive to redeem
---+Article 490 1.
---+Article 490 2.
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Article 490 Tier 2 items with an incentive to redeem

1. Overview

,
Article 490 1.
By way of derogation from Articles 62 and 63, during the period from 1 January 2014 to 31 December 2021, items referred to in Article 484(5) that qualified under the national transposition measures for point (f) or (h) of Article 57 of Directive 2006/48/EC and include in their terms and conditions a call with an incentive for them to be redeemed by the institution shall be subject to this Article.
Article 490 2.

The items shall qualify as Tier 2 instruments provided that:

(a) 

the institution was able to exercise a call with an incentive to redeem only prior to 1 January 2013;

(b) 

the institution did not exercise the call;

(c) 

from 1 January 2013 the conditions laid down in Article 63 are met.
Article 490 3.

The items shall qualify as Tier 2 items in accordance with Article 484(5) until the date of their effective maturity, and shall qualify thereafter as Tier 2 items without limit, provided that the following conditions are met:

(a) 

the institution was able to exercise a call with an incentive to redeem only on or after 1 January 2013;

(b) 

the institution did not exercise the call on the date of the effective maturity of the items;

(c) 

the conditions laid down in Article 63 are met from the date of the effective maturity of the items.
Article 490 4.

The items shall not qualify as Tier 2 items from 1 January 2014 where the following conditions are met:

(a) 

the institution was able to exercise a call with an incentive to redeem only between 31 December 2011 and 1 January 2013;

(b) 

the institution did not exercise the call on the date of the effective maturity of the items;

(c) 

the conditions laid down in Article 63 are not met from the date of the effective maturity of the items.
Article 490 5.

The items shall qualify as Tier 2 items with their recognition reduced in accordance with Article 484(5) until the date of their effective maturity, and shall not qualify as Tier 2 items thereafter, where:

(a) 

the institution was able to exercise a call with an incentive to redeem on or after 1 January 2013;

(b) 

the institution did not exercise the call on the date of their effective maturity;

(c) 

the conditions set out in Article 63 are not met from the date of effective maturity of the items.
Article 490 6.

The items shall qualify as Tier 2 items in accordance with Article 484(5) where:

(a) 

the institution was able to exercise a call with an incentive to redeem only prior to or on 31 December 2011;

(b) 

the institution did not exercise the call on the date of the effective maturity of the items;

(c) 

the conditions laid down in Article 63 are not met from the date of the effective maturity of the items.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
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