CA-2.1.7D
For the purposes of Subparagraph CA-2.1.6(o), the following provisions apply to AT1 instruments accounted for as liabilities:
(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