1. By way of derogation from Article 56, during the period from 1 January 2014 to 31 December 2017, the requirements laid down in this Article shall apply to the residual amounts referred to in point (b) of Article 474.
2. Institutions shall apply the following to the residual amount of the items referred to in point (a) of Article 56:
(a) direct holdings of own Additional Tier 1 instruments are deducted at book value from Tier 1 items;
(b) indirect and synthetic holdings of own Additional Tier 1 instruments, including own Additional Tier 1 instruments that an institution could be obliged to purchase by virtue of an existing or contingent contractual obligation, are not deducted and are risk weighted in accordance with Chapter 2 or 3 of Title II of Part Three and subject to the requirements of Title IV of Part Three, as applicable.
3. Institutions shall apply the following to the residual amount of the items referred to in point (b) of Article 56:
(a) where an institution does not have
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