The ACPR publishes an operational document setting out its approach to the implementation of the bail-in mechanism, in line with the guidelines issued by the European Banking Authority. Bail-in is one of the four resolution tools introduced by Directive 2014/59/EU of 15 May 2014, known as the BRRD, which establishes a European framework for the recovery and resolution of credit institutions and investment firms. It may be applied separately or in combination with other resolution tools and it is designed to ensure that the cost of loss absorption and recapitalisation is borne by shareholders and creditors . Its ultimate purpose: ensuring that the failed institution can continue to operate and comply with regulatory requirements, including in particular capital equirements (CRR). In practice, bail-in entails reducing the equity and debt instruments of the institution under resolution and allocating new equity instruments to creditors, following the order of priority of claims.