2.

When assessing the extent to which own-fund items possess the characteristics set out in points (a) and (b) of paragraph 1, currently and in the future, due consideration shall be given to the duration of the item, in particular whether the item is dated or not. Where an own-fund item is dated, the relative duration of the item as compared to the duration of the insurance and reinsurance obligations of the undertaking shall be considered (sufficient duration). In addition, the following features shall be considered: whether the item is free from requirements or incentives to redeem the nominal sum (absence of incentives to redeem); whether the item is free from mandatory fixed charges (absence of mandatory servicing costs); whether the item is clear of encumbrances (absence of encumbrances).

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.