EBA is consulting on RTS setting out the characteristics required from Additional Tier 1, Tier 2 and other non-own funds instruments to be eligible for the purposes of staff variable remuneration. The RTS introduce strict trigger events, linked to regulatory capital levels, for the write-down or conversion of these instruments when the credit quality deteriorates but while the financial institution is still a going concern. To ensure these instruments are linked to market conditions, they must either be open to other investors (at least 60% of the issue) or have a cap on distributions. EBA asks for comments by 29 October. (Source: Consultation on RTS on Variable Remuneration Instruments)