Ordinance of the Swiss Financial Market Supervisory Authority on the Insolvency of Banks and Securities Dealers

¹All debt cap­it­al may be con­ver­ted in­to equity cap­it­al. The fol­low­ing are ex­cluded:

a.

priv­ileged claims in classes 1 and 2 ac­cord­ing to Art­icle 219 para­graph 4 DEBA¹ and Art­icle 37a para­graph 1-5 BankA to the ex­tent that they are classed as pref­er­en­tial;

b.

se­cured claims to the ex­tent that they are se­cured and off­set­table claims to the ex­tent that they are off­set­table, if the cred­it­or can cred­ibly demon­strate the ex­ist­ence, amount and fact that the claim is ob­ject of a rel­ev­ant agree­ment, or this is evid­ent from the bank’s books.