Information;Order — ECLI:EU:T:2024:524
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 – Volkskreditbank v SRB (Case T‑374/23) (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 Volkskreditbank AG is annulled; 2. The effects of Decision SRB/ES/2023/23, in so far as it concerns Volkskreditbank, 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 Volkskreditbank; 4. The European Parliament and the Council of the European Union shall bear their own costs. 1 OJ C 314, 4.9.2023.