ACI Dealing Certificate (#321)

Which one of the following statements is incorrect under Basel III?

Instruments qualifying for recognition as Tier 1 or Tier 2 capital will be substantially restricted.
Basel III does not include Tier 3 capital
There is a distinction between upper Tier 2 and lower Tier 2 capital
New non-common equity Tier 1 and Tier 2 instruments are more loss-absorbing than previously