Judgment of the General Court of 13 July 2018 — BNP Paribas v ECB
(Case T-768/16) 1
(Economic and monetary policy — Prudential supervision of credit institutions — Article 4(1)(d) and (3) of Regulation (EU) No 1024/2013 — Calculation of the leverage ratio — Refusal of the ECB to grant authorisation to the applicant to exclude exposures meeting certain conditions from the calculation of the leverage ratio — Article 429(14) of Regulation (EU) No 575/2013 — Discretion of the ECB — Errors of law — Manifest error of assessment)
Language of the case: French
Parties
Applicant: BNP Paribas (Paris, France) (represented by: A. Champsaur and A. Delors, lawyers)
Defendant: European Central Bank (represented by: K. Lackhoff, R. Bax, G. Bassani and C. Olivier, acting as Agents)
Intervener in support of the defendant: Republic of Finland (represented by: S. Hartikainen, acting as Agent)
Re:
Application on the basis of Article 263 TFEU seeking the annulment of European Central Bank Decision ECB/SSM/2016-R0MUWSFPU8MPRO8K5P83/136 of 24 August 2016, taken pursuant to Article 4(1)(d) and Article 10 of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ 2013 L 287, p. 63), and Article 429(14) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on the prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ 2013 L 176, p. 1, corrigenda OJ 2013 L 208, p. 68 and OJ 2013 L 321, p. 6).
Operative part of the judgment
The Court:
Annuls European Central Bank (ECB) Decision ECB/SSM/2016-R0MUWSFPU8MPRO8K5P83/136 of 24 August 2016;
Orders the ECB to pay the costs;
Orders the Republic of Finland to bear its own costs.
____________
1 OJ C 6, 9.1.2017.