Recital 5

(5)Regulation (EU) 2019/876 of the European Parliament and of the Council ⁶ has introduced the possibility for credit institutions, subject to certain conditions, to classify as Common Equity Tier 1 instruments subsequent issuances of a form of Common Equity Tier 1 instruments for which they have already received permission, without specific supervisory approval. In that connection, it is appropriate to allow for delegation of decisions approving amendments to statutes of credit institutions in relation to the issuance of such instruments where the applicable conditions are deemed by the ECB to have been met.