On April 5, 2017, the European Banking Authority published three sets of guidelines in relation to the Bank Recovery and Resolution Directive, and in particular, bail-in. The guidelines looked at: a) the interrelationship between the Bank Recovery and Resolution Directive sequence of write-down and conversion and the Capital Requirements Regulation; b) the rate of conversion of debt to equity in bail-in; and c) the treatment of shareholders in bail-in or the write-down and conversion of capital instruments. The guidelines give greater clarification on the area of bail-in and are intended to complement existing regulation and guidance. The guidelines and related press release, are available here.