SCHEDULESF1

F1SCHEDULE 11ATRANSFERABLE SECURITIES

PART 1

5

(1)

Non-equity transferable securities, issued in a continuous or repeated manner by a credit institution, which satisfy the conditions in sub-paragraph (2).

(2)

The conditions are that the transferable securities—

(a)

are not subordinated, convertible or exchangeable;

(b)

do not give a right to subscribe to or acquire other types of securities and are not linked to a derivative instrument;

(c)

materialise reception of repayable deposits; and

(d)

are covered by a deposit guarantee under directive 94/19/EC of the European Parliament and of the Council on deposit-guarantee schemes.