Judgment of the General Court of 24 January 2024 – Dexia Crédit Local v SRB
(Case T-405/21) 1
(Economic and monetary union – Banking union – Single Resolution Mechanism for credit institutions and certain investment firms (SRM) – Single Resolution Fund (SRF) – Decision of the SRB on the calculation of the 2021 ex ante contributions – Obligation to state reasons – Equal treatment – Principle of proportionality – SRB’s margin of discretion – Plea of illegality – Legal basis of Regulation (EU) No 806/2014 – Commission’s margin of discretion)
Language of the case: French
Parties
Applicant: Dexia Crédit Local (Paris, France) (represented by: H. Gilliams and J.-M. Gollier, lawyers)
Defendant: Single Resolution Board (represented by: J. Kerlin and C. De Falco, acting as Agents, and by H.-G. Kamann, F. Louis, P. Gey and V. Del Pozo Espinosa de los Monteros, lawyers)
Interveners in support of the defendant: European Parliament (represented by J. Etienne and O. Denkov, acting as Agents), Council of the European Union (represented by E. d’Ursel and A. Westerhof Löfflerová, acting as Agents), European Commission (represented by D. Triantafyllou and A. Steiblytė, acting as Agents)
Re:
By its action based on Article 263 TFEU, the applicant seeks annulment of Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund, in so far as it relates to the applicant.
Operative part of the judgment
The Court:
Annuls Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund in so far as it concerns Dexia Crédit Local;
Maintains the effects of Decision SRB/ES/2021/22, in so far as it concerns Dexia Crédit Local, until the entry into force, within a reasonable period which cannot exceed six months from the date of delivery of this judgment, of a new decision of the SRB fixing the ex ante contribution to the Single Resolution Fund of that institution for the 2021 contribution period;
Orders the SRB to bear its own costs and to pay those incurred by Dexia Crédit Local;
Orders the European Parliament, the Council of the European Union and the European Commission to bear their own costs.
____________
1 OJ C 338, 23.8.2021.