A pipelined run-to-completion processor can decode three instructions in three consecutive clock cycles, and can also execute the instructions in three consecutive clock cycles. The first instruction causes the ALU to generate a value which is then loaded due to execution of the first instruction into a register of a register file. The second instruction accesses the register and loads the value into predicate bits in a register file read stage. The predicate bits are loaded in the very next clock cycle following the clock cycle in which the second instruction was decoded. The third instruction is a conditional instruction that uses the values of the predicate bits as a predicate code to determine a predicate function. If a predicate condition (as determined by the predicate function as applied to flags) is true then an instruction operation of the third instruction is carried out, otherwise it is not carried out.