Creditor participation instrument

Where the resolution conditions under section 62 or section 64 are satisfied in respect of an institution or a group entity, the resolution authority may, in accordance with the following provisions, direct that 1. bail-inable liabilities of the institution or group entity be converted into shares or other Common Equity Tier 1 instruments in a) that institution or group entity, b) a relevant parent institution, or c) a bridge institution to which assets, rights, or liabilities of the institution or group entity are transferred, or 2. in the case of section 96(1), point 1, the nominal value or outstanding balance of bail-inable liabilities of the institution or group entity be written down, in whole or in part; in the case of section 96(7), a write-down may be carried out without a conversion being effected.