Q&A 3568 clarified that the predetermined amount should always be calculated on the basis of the gross long position, namely the outstanding amount of the relevant issuance, without taking into account short positions.

Q&A 2094 clarified that newly subscribed CET1 instruments during a period up to one year from the date of the granting of the permission automatically increase the predetermined amount. This Q&A referred to a GPP for mutual and cooperative societies to reduce own fund instruments under Article 32 of Commission Delegated Regulation (DR) 241/2014, which expressly requires the calculation of the predetermined amount “net of the amount of the subscription of new paid in Common Equity Tier 1 instruments during a period up to one year”.

The question arises as to whether Q&A 2094 can also apply to a GPP for eligible liabilities under Article 78a(1) second subparagraph of the CRR; i.e. whether once a GPP is granted for a certain predetermined amount, the resolution authority can allow a subsequent issuance of eligible liabilities instruments to increase the total amount that is permitted.