With only 161 days until the creditor writedown portion of the BRRD comes into force, it is imperative that both banks and their creditors have complete understanding of the potential post- 1 January 2016 consequences. However, Article 55(3) BRRD is not a straight road leading to clarity; the long list of overlapping exceptions to bail in, form a complex puzzle that all market participants will be forced to solve. Help is at hand in the following flowchart, an Ariadne’s thread to guide you through the bail in labyrinth.
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