Article 44 Scope of bail-in tool

covered deposits;

secured liabilities including covered bonds and liabilities in the form of financial instruments used for hedging purposes which form an integral part of the cover pool and which according to national law are secured in a way similar to covered bonds;

any liability that arises by virtue of the holding by the institution or entity referred to in point (b), (c) or (d) of Article 1(1) of this Directive of client assets or client money including client assets or client money held on behalf of UCITS as defined in Article 1(2) of Directive 2009/65/EC or of AIFs as defined in point (a) of Article 4(1) of Directive 2011/61/EU of the European Parliament and of the Council ( 11 ), provided that such a client is protected under the applicable insolvency law;

any liability that arises by virtue of a fiduciary relationship between the institution or entity referred to in point (b), (c) or (d) of Article 1(1) (as fiduciary) and another person (as beneficiary) provided that such a beneficiary is protected under the applicable insolvency or civil law;

liabilities to institutions, excluding entities that are part of the same group, with an original maturity of less than seven days;

dliteanais a bhfuil aibíocht níos lú ná seacht lá fágtha iontu, atá dlite do chórais nó d'oibreoirí córas atá ainmnithe i gcomhréir le Treoir 98/26/CE nó dá rannpháirtithe agus a thagann as rannpháirtíocht i gcóras den chineál sin, nó do contrapháirtithe lárnacha arna n-údarú san Aontas de bhun Airteagal 14 de Rialachán (AE) Uimh. 648/2012 agus contrapháirtithe lárnacha de chuid tríú tíortha arna n-aithint ag ESMA de bhun Airteagal 25 den Rialachán sin;

a liability to any one of the following:

dliteanais, chuig institiúidí nó eintitis dá dtagraítear i bpointí (b), (c) nó (d) d'Airteagal 1(1) a bhaineann leis an ngrúpa réitigh céanna ach nach eintitis réitigh iad féin per se, gan beann ar a gcuid aibíochtaí, seachas i gcás inarb ísle rangú do na dliteanais sin ná do ghnáthdhliteanais neamhurraithe faoin dlí ábhartha náisiúnta lena rialaítear gnáthimeachtaí dócmhainneachta agus is infheidhme ar dháta trasuí na Treorach seo; i gcásanna ina bhfuil feidhm ag an eisceacht sin, déanfaidh údarás réitigh na fochuideachta ábhartha nach eintiteas réitigh a mheasúnú cé acu is leor nó nach leor líon na n-ítimí a chomhlíonann Airteagal 45f(2) chun go gcuirfí chun feidhme straitéis réitigh na tosaíochta.

it is not possible to bail-in that liability within a reasonable time notwithstanding the good faith efforts of the resolution authority;

the exclusion is strictly necessary and is proportionate to achieve the continuity of critical functions and core business lines in a manner that maintains the ability of the institution under resolution to continue key operations, services and transactions;

the exclusion is strictly necessary and proportionate to avoid giving rise to widespread contagion, in particular as regards eligible deposits held by natural persons and micro, small and medium sized enterprises, which would severely disrupt the functioning of financial markets, including of financial market infrastructures, in a manner that could cause a serious disturbance to the economy of a Member State or of the Union; or

the application of the bail-in tool to those liabilities would cause a destruction in value such that the losses borne by other creditors would be higher than if those liabilities were excluded from bail-in.

aon chaillteanais nach bhfuil glactha ag dliteanais in-fhortharrthála a chumhdach agus glanluach sócmhainní na hinstitiúide faoi réiteach a aisíoc go nialas i gcomhréir le pointe (a) d'Airteagal 46 (1);

scaireanna nó ionstraimí eile úinéireachta nó ionstraimí caipitil a cheannach san institiúid faoi réiteach, chun an institiúid a athchaipitliú i gcomhréir le pointe (b) d'Airteagal 46 (1).

a contribution to loss absorption and recapitalisation equal to an amount not less than 8 % of the total liabilities including own funds of the institution under resolution, measured at the time of resolution action in accordance with the valuation provided for in Article 36, has been made by the shareholders and the holders of other instruments of ownership, the holders of relevant capital instruments and other ►M3  dliteanais in-fhortharrthála ◄ through write down, conversion or otherwise; and

the contribution of the resolution financing arrangement does not exceed 5 % of the total liabilities including own funds of the institution under resolution, measured at the time of resolution action in accordance with the valuation provided for in Article 36.

the amount available to the resolution financing arrangement which has been raised through contributions by institutions and Union branches in accordance with Article 100(6) and Article 103;

the amount that can be raised through ex-post contributions in accordance with Article 104 within three years; and

where the amounts referred to (a) and (b) of this paragraph are insufficient, amounts raised from alternative financing sources in accordance with Article 105.

the 5 % limit specified in paragraph 5(b) has been reached; and

all unsecured, non-preferred liabilities, other than eligible deposits, have been written down or converted in full.

the contribution to loss absorption and recapitalisation referred to in point (a) of paragraph 5 is equal to an amount not less than 20 % of the risk weighted assets of the institution concerned;

the resolution financing arrangement of the Member State concerned has at its disposal, by way of ex-ante contributions (not including contributions to a deposit guarantee scheme) raised in accordance with Article 100(6) and Article 103, an amount which is at least equal to 3 % of covered deposits of all the credit institutions authorised in the territory of that Member State; and

the institution concerned has assets below EUR 900 billion on a consolidated basis.

the principle that losses should be borne first by shareholders and next, in general, by creditors of the institution under resolution in order of preference;

the level of loss absorbing capacity that would remain in the institution under resolution if the liability or class of liabilities were excluded; and

the need to maintain adequate resources for resolution financing.