Member States must ensure in normal insolvency proceedings that (a) covered deposits and claims of deposit guarantee schemes under Article 9(2) of Directive 2014/49/EU share the highest priority; (b) eligible deposits exceeding the coverage level under Article 6 and deposits made through branches located outside the Union share the next-highest priority; and (c) other deposits rank above ordinary unsecured creditors. Deposits referred to in Article 5(1)(b),(c),(f),(k) and (l) of Directive 2014/49/EU are excluded from higher ranking and must not rank above ordinary unsecured creditors.

Ordinary unsecured claims must rank above unsecured claims arising from debt instruments that satisfy three conditions: original contractual maturity of at least one year, no embedded derivatives and an explicit contractual or prospectus reference to lower ranking; those instrument claims must rank above claims under Article 48(1)(a)–(d). Transitional provisions preserve the national laws as at 31 December 2016 for prior issuances, permit specified 2016–2017 changes and split-ranking arrangements, clarify that certain variable-rate and foreign‑currency features are not embedded derivatives, and provide that resolution financing arrangement claims from partial transfers have preferred priority over deposits.