+Article 494a Grandfathering of issuances through special purpose entities
---+Article 494a 1.
---+Article 494a 2.

Article 494a Grandfathering of issuances through special purpose entities

1. Overview

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Article 494a 1.

By way of derogation from Article 52, capital instruments not issued directly by an institution shall qualify as Additional Tier 1 instruments until 31 December 2021 only where all the following conditions are met:

(a) 

the conditions set out in Article 52(1), except for the condition requiring that the instruments are directly issued by the institution;

(b) 

the instruments are issued through an entity within the consolidation pursuant to Chapter 2 of Title II of Part One;

(c) 

the proceeds are immediately available to the institution without limitation and in a form that satisfies the conditions set out in this paragraph.
Article 494a 2.

By way of derogation from Article 63, capital instruments not issued directly by an institution shall qualify as Tier 2 instruments until 31 December 2021 only where all the following conditions are met:

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(a) 

the conditions set out in Article 63, except for the condition requiring that the instruments are directly issued by the institution;

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(b) 

the instruments are issued through an entity within the consolidation pursuant to Chapter 2 of Title II of Part One;

(c) 

the proceeds are immediately available to the institution without limitation and in a form that satisfies the conditions set out in this paragraph.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards