1. Capital instruments shall qualify as Common Equity Tier 1 instruments only if all the following conditions are met:
(a) the instruments are issued directly by the institution with the prior approval of the owners of the institution or, where permitted under applicable national law, the management body of the institution;
For the purposes of point (b) of the first subparagraph, only the part of a capital instrument that is fully paid up shall be eligible to qualify as a Common Equity Tier 1 instrument.
(c) the instruments meet all the following conditions as regards their classification:
(iii) they are classified as equity capital for the purposes of determining…