2. Member States shall ensure that, where one or more resolution tools have been applied and where resolution authorities apply the write-down or conversion tool, the shareholders, policy holders, beneficiaries, claimants and other creditors whose claims have been written down or converted to equity do not incur greater losses than they would have incurred if the undertaking under resolution had been wound up under normal insolvency proceedings immediately at the time when the decision referred to in Article 64 was taken.