CA-2.1.10E
For the purposes of Subparagraph CA-2.1.10(j), the following provisions apply to T2 Sukuk instruments:
(a) A trigger event occurs when the CET1 capital ratio of the Islamic bank licensee referred to in Subparagraph CA-B.2.1(a) falls below either of the following:
(i) 7.0%; or
(ii) A level higher than 7.0 %, where determined by the Islamic bank licensee and specified in the provisions governing the instrument; and
(b) Islamic bank licensees may specify in the provisions governing the instrument one or more trigger events in addition to that referred to in Subparagraph (a).
January 2015