English to French Bus/Financial Finance (general) résolution bancaire / Directive BRRD

Bonjour à tous
comment refléter ici "down streaming" of debt. Le terme consacré m'échappe. merci d'avance.

Senior unsecured debt issued by holding companies is also more likely to be bailed in as part of a group resolution, given the clear separation between the holding company and the operating bank.
Ultimately we expect this economic subordination to be formalised through the down streaming of debt from the holding company to the operating banks in the form of contractually subordinated senior debt, thereby providing protection to the senior liabilities of the operating entity from loss.
Our assessment is therefore that such debt issued by bank holding companies is less likely to be supported because it exists precisely to provide a loss absorbing cushion.