BPCE and Others v SRB (Contributions ex ante 2022) (Economic and monetary union - Banking union - Single Resolution Mechanism for credit institutions and certain investment firms (SRM) - Judgment) French Text [2024] EUECJ T-393/22 (17 July 2024)

BPCE and Others v SRB (Contributions ex ante 2022) (Economic and monetary union - Banking union - Single Resolution Mechanism for credit institutions and certain investment firms (SRM) - Judgment) French Text [2024] EUECJ T-393/22 (17 July 2024)

The SRB breached Article 70(2) of Regulation (EU) No 806/2014 by setting the 2022 ex ante contributions above the 12.5% cap of the forecast final target level. The cap applies during the initial period and is mandatory. This legal error alone justifies annulment of the decision as it concerns the applicants.

Citation
[2024] EUECJ T-393/22
Parties
Applicant: BPCE; Respondent: Conseil de résolution unique (CRU); Intervener: Parlement européen; Intervener: Conseil de l’Union européenne
Jurisdiction
European Union
Judgment Date
17 July 2024
Procedural Posture
Annulment Action (article 263 Tfeu) / Judgment at First Instance
Outcome
Application granted in part; impugned decision annulled as regards applicants; effects maintained temporarily.
Legal Topics
Single Resolution Mechanism, Banking Union, Ex Ante Contributions, Regulation (eu) No 806/2014, Financial Stability, Administrative Law
European Union Law Banking and Finance Law Single Resolution Mechanism Banking Union Ex Ante Contributions Regulation (eu) No 806/2014 Financial Stability Administrative Law

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Parties

BPCE

Applicant

Conseil de résolution unique (CRU)

Respondent

Parlement européen

Intervener

Conseil de l’Union européenne

Intervener

Procedural Posture

Annulment Action (article 263 Tfeu) / Judgment at First Instance

Legal Issues

  1. 1 Whether the SRB exceeded the 12.5% annual cap on ex ante contributions under Article 70(2) of Regulation (EU) No 806/2014
  2. 2 Whether the annual cap applies during the initial period for building up the Single Resolution Fund
  3. 3 Interpretation of the interplay between Articles 69 and 70 of Regulation (EU) No 806/2014

Ratio Decidendi

The SRB breached Article 70(2) of Regulation (EU) No 806/2014 by setting the 2022 ex ante contributions above the 12.5% cap of the forecast final target level. The cap applies during the initial period and is mandatory. This legal error alone justifies annulment of the decision as it concerns the applicants.

Court Disposition

Application granted in part; impugned decision annulled as regards applicants; effects maintained temporarily.

Orders

  • The SRB/ES/2022/18 decision is annulled as it concerns BPCE and other applicants.
  • Effects of the decision are maintained for up to six months from the judgment becoming final or until replaced.