Information;Judgment — ECLI:EU:C:2023:630
Date: 2023-09-07
Language of the case: English
Court formation: First Chamber
Subject matter: European Central Bank (ECB);Economic and monetary policy
Procedure: Action for annulment;Appeal - unfounded;Appeal - inadmissible
Origin: Estonia

Judgment of the Court (First Chamber) of 7 September 2023 – Versobank v ECB (Case C‑803/21 P) (1) (Appeal – Prudential supervision of credit institutions – Specific supervisory tasks assigned to the European Central Bank (ECB) – Decision to withdraw the authorisation of the credit institution Versobank AS – Division of powers between the ECB and the national competent authorities – Procedural rights – Procedural defects) 1. Action for annulment – Pleas in law – Infringement of essential procedural requirements – Plea alleging infringement of procedural rules in the review of a decision of the European Central Bank (ECB) to withdraw the authorisation of a credit institution – Administrative procedure which might have led to a different result in the absence of that irregularity – Absence (Art. 263 TFEU; Council Regulation No 1024/2013, Art. 4(1)(a); European Parliament and Council Directive 2013/36, Art. 18) (see paragraphs 48-50) 2. Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Withdrawal of the authorisation of a credit institution on the ground of infringement of national legislation on combatting money laundering and the financing of terrorism – Exclusive competence of the European Central Bank (ECB) – Legal assessment of the facts that constitute the infringements found by the national authorities – Included (Council Regulation No 1024/2013, recital 28 and Arts 4(1)(a) and 14(5); European Parliament and Council Directives 2005/60 and 2013/36, Arts 18(f) and 67(1)) (see paragraphs 96-99, 140, 141) 3. Action for annulment – Interest in bringing proceedings – Interest to be assessed at the time at which an action is brought – Action brought against a decision of the European Central Bank (ECB) withdrawing a credit institution’s authorisation – Decision repealed and replaced by a decision with identical content taken in the context of the review procedure – Action capable of securing a benefit for the applicant – Absence (Art. 263 TFEU; Council Regulation No 1024/2013, Art. 24) (see paragraphs 159, 160, 168) Operative part The Court: 1. Dismisses the appeal; 2. Orders Versobank AS to bear its own costs and to pay those incurred by the European Central Bank (ECB); 3. Orders the European Commission to bear its own costs. 1 OJ C 73, 14.2.2022.