EBU Single Rulebook Q&A 12 October 2017 2017_3557 Difference between a reduction to zero and a cancelation

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European Union · · · 10-11-2017

Can you explain what is the difference between a reduction to zero and a cancelation referred to in Article 63(1)(e), (g) and (h) of Directive 2014/59/EU (BRRD)? Can you please explain if the instrument is no longer viable when reduced to zero, i.e. if it is cancelled at that point?

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