Order;Information — ECLI:EU:T:2021:797
Date: 2021-11-08
Language of the case: English
Court formation: First Chamber
Subject matter: Economic and monetary policy
Procedure: Action for annulment - unfounded
Origin: Malta

Order of the General Court (First Chamber) of 8 November 2021 – Satabank v ECB (Case T‑494/20) (1) (Economic and monetary policy – Prudential supervision of less significant credit institutions – Regulation (EU) No 1024/2013 – Specific tasks of the ECB – Refusal to carry out direct prudential supervision – Refusal to give instructions to the competent person – Action manifestly lacking any foundation in law) 1. Judicial proceedings – Action before the General Court – Possibility to dismiss an action on the merits without ruling beforehand on the objections of inadmissibility raised by the defendant (see paras 17, 18) 2. Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Powers of the European Central Bank (ECB) – Decentralised implementation by the national authorities – Less significant institutions subject to direct prudential supervision by the national authorities – Possibility for the ECB to exercise direct prudential supervision of those entities – Condition (Council Regulation No 1024/2013, Arts 4(1) and 6; Regulation of the European Central Bank No 468/2014, Art. 67) (see paras 24-29, 33-37) Operative part 1. The action is dismissed. 2. Satabank plc shall pay, in addition to its own costs, those incurred by the European Central Bank (ECB). 1 OJ C 371, 3.11.2020.