Article 48 Sequence of write down and conversion

Common Equity Tier 1 items are reduced in accordance with point (a) of Article 60(1);

if, and only if, the total reduction pursuant to point (a) is less than the sum of the amounts referred to in points (b) and (c) of Article 47(3), authorities reduce the principal amount of Additional Tier 1 instruments to the extent required and to the extent of their capacity;

if, and only if, the total reduction pursuant to points (a) and (b) is less than the sum of the amounts referred to in points (b) and (c) of Article 47(3), authorities reduce the principal amount of Tier 2 instruments to the extent required and to the extent of their capacity;

if, and only if, the total reduction of shares or other instruments of ownership and relevant capital instruments pursuant to points (a), (b) and (c) is less than the sum of the amounts referred to in points (b) and (c) of Article 47(3), authorities reduce to the extent required the principal amount of subordinated debt that is not Additional Tier 1 or Tier 2 capital in accordance with the hierarchy of claims in normal insolvency proceedings, in conjunction with the write down pursuant to points (a), (b) and (c) to produce the sum of the amounts referred to in points (b) and (c) of Article 47(3);

más rud é, ach ar an gcuntar sin amháin, gur lú laghdú iomlán scaireanna nó ionstraimí úinéireachta eile, ionstraimí caipitil ábhartha agus dliteanais in-fhortharrthála de bhun phointí (a) go (d) den mhír seo ná suim na méideanna dá dtagraítear i bpointí (b) agus (c) d'Airteagal 47(3), laghdóidh na húdaráis a mhéid is gá, an príomhshuim, nó an tsuim iníoctha amuigh i ndáil le haon dliteanas in-fhortharrthála eile, lena n-áirítear ionstraimí fiachais dá dtagraítear in Airteagal 108(3), i gcomhréir leis an ordlathas éileamh i gcomhthéacs gnáthimeachtaí dócmhainneachta, lena n-áirítear rangú na dtaiscí dá bhforáiltear in Airteagal 108, de bhun Airteagal 44, i gcomhcheangal leis an díluacháil de bhun phointí (a) go (d) den mhír seo chun suim na suimeanna dá dtagraítear i bpointí (b) agus (c) d'Airteagal 47(3) a sholáthar.

terms that provide for the principal amount of the instrument to be reduced on the occurrence of any event that refers to the financial situation, solvency or levels of own funds of the institution or entity referred to in point (b), (c) or (d) of Article 1(1);

terms that provide for the conversion of the instruments to shares or other instruments of ownership on the occurrence of any such event.