RAR 3.4.6

When the Write Down or Conversion Power is exercised, the DFSA may apply a different Conversion Rate to different classes of capital instruments and Eligible Liabilities provided that when different Conversion Rates are applied, the Conversion Rate applicable to liabilities that are considered to be senior under DIFC insolvency law shall be higher than the Conversion Rate applicable to subordinated liabilities.


Derived from DFSA RMI283/2020 (Made 16th December 2020). [VER1/04-21]