tier two capital (1) (in ELM) the tier two capital of an ELMI calculated in accordance with ELM 2.4 (Calculation of initial capital and own funds).14 (2) (in26 BIPRU, GENPRU and INSPRU26) an item of capital that is specified in stages G (Upper tier two capital) 26or H (Lower tier two capital) 26of the capital resources table 26 .144