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Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance

article  494a

CELEX:  02013R0575-20250629

Grandfathering of issuances through special purpose entities
1. By way of derogation from Article 52, capital instruments not issued directly by an institution shall qualify as Additional Tier 1 instruments until 31 December 2021 only where all the following conditions are met:
(a) the conditions set out in Article 52(1), except for the condition requiring that the instruments are directly issued by the institution;
(b) the instruments are issued through an entity within the consolidation pursuant to Chapter 2 of Title II of Part One;
(c) the proceeds are immediately available to the institution without limitation and in a form that satisfies the conditions set out in this paragraph.
Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance

article  494a

CELEX:  02013R0575-20250629

2. By way of derogation from Article 63, capital instruments not issued directly by an institution shall qualify as Tier 2 instruments until 31 December 2021 only where all the following conditions are met:
(a) the conditions set out in Article 63, except for the condition requiring that the instruments are directly issued by the institution;
(b) the instruments are issued through an entity within the consolidation pursuant to Chapter 2 of Title II of Part One;
(c) the proceeds are immediately available to the institution without limitation and in a form that satisfies the conditions set out in this paragraph.