Where a resolution authority decides to apply a resolution tool to an institution or entity referred to in point (b), (c) or (d) of Article 1(1), and that resolution action would result in losses being borne by creditors or their claims being converted, the resolution authority shall exercise the power to write down and convert
►M3
ionstraimí capitil agus dliteanais incháilithe i gcomhréir le hAirteagal 59
◄ in accordance with Article 59 immediately before or together with the application of the resolution tool.