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?
Not given
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.
Update 26.03.2021: This Q&A has been archived in light of the change(s) introduced to Regulation (EU) No 575/2013 (CRR).