EBA · 2013_13 Archive

Grandfathering of own funds instruments

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
484
Topic
Own funds
Submitted by
Competent authority
Submitted
2013-07-03
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Will old style Tier 2 issuances without a reference to the proposals for a Directive Establishing a Framework for the Recovery and Resolution of Credit Institutions and Investment Firms / Point of Non-viability (PON) fully qualify upon entry into force of Regulation (EU) No 575/2013?

Background

Not given

Answer

In the absence of a PON eligibility criterion in Regulation (EU) No 575/2013, the reference to PON, or absence thereof, will not be conditioning the eligibility of instruments. Capital instruments will be fully eligible provided that they meet all eligibility criteria applicable to the category of instruments they belong to.

Original source: European Banking Authority, Q&A ID 2013_13

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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