(129)

the following articles are inserted: ‘Article 494a 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: 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: Article 494b Grandfathering of own funds instruments and eligible liabilities instruments 1. By way of derogation from Articles 51 and 52, instruments issued prior to 27 June 2019 shall qualify as Additional Tier 1 instruments at the latest until 28 June 2025, where they meet the conditions set out in Articles 51 and 52, except for the conditions referred to in points (p), (q) and (r) of Article 52(1). 2. By way of derogation from Articles 62 and 63, instruments issued prior to 27 June 2019 shall qualify as Tier 2 instruments at the latest until 28 June 2025, where they meet the conditions set out in Articles 62 and 63, except for the conditions referred to in points (n), (o) and (p) of Article 63. 3. By way of derogation from point (a) of Article 72a(1), liabilities issued prior to 27 June 2019 shall qualify as eligible liabilities items where they meet the conditions set out in Article 72b, except for the conditions referred to in point (b)(ii) and points (f) to (m) of Article 72b(2).’; the conditions set out in Article 52(1), except for the condition requiring that the instruments are directly issued by the institution; the instruments are issued through an entity within the consolidation pursuant to Chapter 2 of Title II of Part One; the proceeds are immediately available to the institution without limitation and in a form that satisfies the conditions set out in this paragraph. the conditions set out in Article 63(1), except for the condition requiring that the instruments are directly issued by the institution; the instruments are issued through an entity within the consolidation pursuant to Chapter 2 of Title II of Part One; the proceeds are immediately available to the institution without limitation and in a form that satisfies the conditions set out in this paragraph.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.