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ARTICLE · 29 NOVEMBER 2016

EU Report And Standardized Templates For Additional Tier 1 Instruments

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On October 10, 2016, the EBA published an updated Report on the monitoring of Additional Tier 1 instruments and standardized templates for AT1 instruments.

European UnionFinance and Banking
A&O Shearman
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On October 10, 2016, the EBA published an updated Report on the monitoring of Additional Tier 1 instruments and standardized templates for AT1 instruments. This follows a consultation in July 2016. The CRR sets out the eligibility criteria for AT1 instruments, which are further detailed in RTS. The CRR requires the EBA to review the quality of own funds instruments issued by banks across the EU. The Report sets out the results of its monitoring the issuances of AT1 capital instruments, assessing the terms and conditions of selected issuances against the criteria provided for in CRR and the related RTS. The Report is based on the review of 33 AT1 issuances from EU banks, which took place between August 2013 and December 2015, for a total amount of EUR 35.5 billion. The Report sets out detailed analysis of some of the clauses reviewed, including the EBA's views on those clauses, and interpretation of some of the CRR provisions, in particular the provisions relating to

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