Information;Order — ECLI:EU:T:2024:550
Date: 2024-08-06
Language of the case: German
Court formation: Second Chamber
Subject matter: Economic and monetary policy
Procedure: Action for annulment - successful
Origin: Austria

Order of the General Court (Second Chamber) of 6 August 2024 – Hypo Vorarlberg Bank v SRB (Case T‑369/23) (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 ex ante contributions for the 2023 contribution period – Article 70(2) of Regulation (EU) No 806/2014 – Action manifestly well founded – Limitation of the temporal effects of the order ) 1. Economic and monetary policy – Economic policy – Single resolution mechanism for credit institutions and certain investment firms – Ex ante contributions to the Single Resolution Fund (SRF) – Annual cap of the aggregate amount of the individual contributions to the SRF fixed at 12.5% of the final target level – Scope – Application during the initial period (European Parliament and Council Regulation No 806/2014, Art. 70(2), first and fourth subparas) (see paragraph 30) 2. Economic and monetary policy – Economic policy – Single resolution mechanism for credit institutions and certain investment firms – Ex ante contributions to the Single Resolution Fund (SRF) – Annual cap of the aggregate amount of the individual contributions to the SRF fixed at 12.5% of the final target level – Scope – Cap not to be exceeded by the Single Resolution Board (SRB) – Criteria for assessment – Dynamic approach to the final target level (European Parliament and Council Regulation No 806/2014, Arts 69(1) and 70(2), first and fourth subparas) (see paragraphs 29, 31) Operative part 1. Decision SRB/ES/2023/23 of the Single Resolution Board (SRB) of 2 May 2023 on the calculation of the 2023 ex ante contributions to the Single Resolution Fund, in so far as it concerns Hypo Vorarlberg Bank AG is annulled. 2. The effects of Decision SRB/ES/2023/23, in so far as it concerns Hypo Vorarlberg Bank, are maintained until the SRB has taken the measures necessary to implement the present order, which must occur within a reasonable period that cannot exceed six months from the day on which the present order becomes final. 3. The SRB shall bear its own costs and pay those incurred by Hypo Vorarlberg Bank. 4. The European Parliament and the Council of the European Union shall bear their own costs. 1 OJ C 314, 4.9.2023.