2013_12 Grandfathering of own funds instruments

Question ID:: 2013_12
Legal Act:: Regulation (EU) No 575/2013 (CRR)
Topic:: Own funds
Article:: 483
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations:: Not applicable
Article/Paragraph:: N/A
Disclose name of institution / entity:: No
Type of submitter:: Competent authority
Subject Matter:: Grandfathering of own funds instruments
Question:: Will preference shares issued in 2009 subscribed by the government and currently accepted as Core Tier 1 qualify for grandfathering of State aid?
Background on the question:: Not given
Date of submission:: 03/07/2013
Published as Final Q&A:
Final Answer:: These instruments subscribed by the State will fall under Article 483 of Regulation (EU) No 575/2013and will be grandfathered as Core Equity Tier (CET) 1 instruments until 31 December 2017 since they were issued before the date of application of Regulation (EU) No 575/2013.
Status:: Final Q&A
Answer prepared by:: Answer prepared by the EBA.
Note to Q&A:: Update 26.03.2021: This Q&A has been reviewed in the light of the changes introduced to Regulation (EU) No 575/2013 (CRR) and continues to be relevant.