Banque postale 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-394/22 (17 July 2024)

Banque postale 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-394/22 (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 forecasted final target level, a limit that applies during the initial period. The clear and imperative wording of the regulation does not allow for a flexible or indicative interpretation. This legal error alone justifies annulment of the SRB decision as it concerns La Banque postale.

Citation
[2024] EUECJ T-394/22
Parties
Applicant: La Banque postale; 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) / Final Judgment
Outcome
Application granted in part; SRB decision annulled as regards La Banque postale; effects maintained temporarily.
Legal Topics
Single Resolution Mechanism, Ex Ante Contributions, SRB Decision Annulment, Interpretation of Regulation (eu) No 806/2014, Application of Contribution Caps
EU Law Banking and Finance Law Administrative Law Single Resolution Mechanism Ex Ante Contributions SRB Decision Annulment Interpretation of Regulation (eu) No 806/2014 Application of Contribution Caps

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 14 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

La Banque postale

Applicant

Conseil de résolution unique (CRU)

Respondent

Parlement européen

Intervener

Conseil de l’Union européenne

Intervener

Procedural Posture

Annulment Action (article 263 Tfeu) / Final Judgment

Legal Issues

  1. 1 Whether the SRB exceeded the 12.5% cap on annual ex ante contributions under Article 70(2) of Regulation (EU) No 806/2014
  2. 2 Whether the cap applies during the initial period for building up the Single Resolution Fund
  3. 3 Whether the SRB's calculation method was lawful

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 forecasted final target level, a limit that applies during the initial period. The clear and imperative wording of the regulation does not allow for a flexible or indicative interpretation. This legal error alone justifies annulment of the SRB decision as it concerns La Banque postale.

Court Disposition

Application granted in part; SRB decision annulled as regards La Banque postale; effects maintained temporarily.

Orders

  • The SRB decision SRB/ES/2022/18 of 11 April 2022 is annulled in so far as it concerns La Banque postale.
  • The effects of the annulled decision are maintained as regards La Banque postale until the SRB takes necessary measures, for a period not exceeding six months from the date the judgment becomes final.