Information;Judgment — ECLI:EU:T:2020:392
Date: 2020-09-09
Language of the case: French
Court formation: Second Chamber, Extended Composition
Subject matter: Economic and monetary policy
Procedure: Action for annulment - successful
Origin: France

Judgment of the General Court (Second Chamber, Extended Composition) of 9 September 2020 – BCPE and Others v ECB (Case T‑146/18) (Economic and monetary policy – Prudential supervision of credit institutions – Contribution to the deposit guarantee system or to the single resolution fund by means of irrevocable payment commitments – Tasks entrusted to the ECB – Specific supervision powers of the ECB – Article 4(1)(f) and Article 16(1)(c) and (2)(d) of Regulation (EU) No 1024/2013 – Measure requiring the deduction of the cumulative amount of irrevocable payment commitments outstanding from Tier 1 capital – Absence of individual examination) 1. Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of groups of credit institutions on a consolidated basis – Capital requirements – Scope of the control and evaluation carried out by the European Central Bank (European Parliament and Council Regulation No 575/2013, Arts 26(1), first subpara., (a) to (f) and 36; Council Regulation No 1024/2013, Art. 4(1)(f)) (see paras 46-51) 2. Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of groups of credit institutions on a consolidated basis – Capital requirements – Scope of the control and evaluation carried out by the European Central Bank – Obligation to carry out an individual prudential examination (European Parliament and Council Regulation No 575/2013, Art. 92(3); Council Regulation No 1024/2013, Arts 4(1)(f) and 16(1)(c) and (2)(d)) (see paras 52, 66-73) 3. Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of groups of credit institutions on a consolidated basis – Capital requirements – Scope of the control and evaluation carried out by the European Central Bank – Funds that may be subject to a measure requiring the implementation of a policy or special treatment – Meaning – Irrevocable payment commitments (IPCs) – Included (Council Regulation No 1024/2013, Arts 4(1)(f) and 16(1)(c) and (2)(d)) (see paras 60, 61) Re: Application based on Article 263 TFEU for partial annulment, first, of ECB Decision ECB/SSM/2017-9695005MSX1OYEMGDF46/338 of 19 December 2017, and, second, of ECB Decision ECB-SSM-2019-FRBPC‑22 of 14 February 2019. Operative part The Court: 1. Annuls paragraph 4 of Decision ECB/SSM/2017-9695005MSX1OYEMGDF46/338 of the European Central Bank (ECB) of 19 December 2017 and paragraphs 3.4 to 3.7 of Decision ECB-SSM-2019-FRBPC‑22 of the ECB of 14 February 2019; 2. Orders the ECB to pay the costs.