62022TJ0407_INF
Judgment of the General Court (Eighth Chamber, Extended Composition) of 22 January 2025 –Norddeutsche Landesbank – Girozentrale v SRB (2022 ex ante contributions)
(Case T‑407/22)
(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 2022 ex ante contributions – Obligation to state reasons – Equal treatment – Proportionality – SRB’s margin of discretion – Manifest error of assessment – Plea of illegality – Commission’s margin of discretion)
1.
EU institutions – Exercise of powers – Power conferred on the Commission to adopt delegated acts – Scope – Complex assessments and evaluations – Broad discretion – Determination of the methodology for calculating the ex ante contributions to the Single Resolution Fund (SRF) – Establishment of the criteria for adjusting those contributions – Judicial review – Limits
(Art. 290 TFEU; European Parliament and Council Regulation No 806/2014, recital 41; Commission Regulation 2015/63; European Parliament and Council Directive 2014/59)
(see paragraphs 45-47)
2.
Acts of the institutions – Statement of reasons – Obligation – Scope – Decision of the Single Resolution Board (SRB) establishing the ex ante contributions to the Single Resolution Fund (SRF) – Not necessary to include, in that decision, all figures necessary for verifying the accuracy of the calculation of the contributions – Weighing the obligation to state reasons against the general principle of protection of the business secrets of the institutions concerned – Legality of the provisions concerning the methodology for calculating the ex ante contributions to the SRF – Principle of non-disclosure of business secrets – Obligation for the SRB to publish or disclose to the institutions concerned, in collective and anonymised form, the information relating to the institutions that was used to calculate the ex ante contribution
(Art. 296, second para., TFEU; European Parliament and Council Regulation No 806/2014; Commission Regulation 2015/63, Arts 4 to 7 and 9 and Annex I; European Parliament and Council Directive 2014/59)
(see paragraphs 100-110, 141)
3.
Acts of the institutions – Statement of reasons – Obligation – Scope – Explanations regarding the reasons for the measure provided by the author during the proceedings before the EU judicature – Conditions – There must be no contradictions and the explanations must be consistent with those reasons
(Art. 296, second para., TFEU)
(see paragraphs 193, 195)
4.
Acts of the institutions – Statement of reasons – Obligation – Scope – Decision of the Single Resolution Board (SRB) establishing the ex ante contributions to the Single Resolution Fund (SRF) – Obligation for the SRB to disclose to the institutions concerned the methodology for calculating those contributions and the methodology for setting the amount of the annual target level
(Art. 296, second para., TFEU; European Parliament and Council Regulation No 806/2014; Council Regulation 2015/81, Art. 4; Commission Regulation 2015/63, Arts 4 to 7 and 9 and Annex I; European Parliament and Council Directive 2014/59)
(see paragraphs 196, 197)
5.
EU institutions – Exercise of powers – Power conferred on the Commission to adopt delegated acts – Scope – Complex assessments and evaluations – Broad discretion – Determination of the methodology for calculating the ex ante contributions to the Single Resolution Fund (SRF) – Application and weighting of the Institutional Protection Scheme (IPS) risk indicator – Judicial review – Limits
(Commission Regulation 2015/63, Art. 7(4))
(see paragraphs 269, 270)
6.
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) – Calculation of the adjusting multiplier of the contributions according to the risk profile of the credit institutions – Risk indicator regarding the minimum requirement for own funds and eligible liabilities (MREL) not included in the text of the annex to the regulation concerned – Taking that indicator into account because it is indispensable for that calculation – Whether permissible
(Commission Regulation 2015/63, Arts 6(2)(a) and 20(1) and Annex II)
(see paragraphs 336, 348)
7.
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) – Calculation of the adjusting multiplier of the contributions according to the risk profile of the credit institutions – No infringement of the freedom to conduct a business
(Charter of Fundamental Rights of the European Union, Art. 16; Commission Regulation 2015/63, recital 1 and Art. 7(4))
(see paragraphs 367-370)
Operative part
The Court:
1.
Dismisses the action;
2.
Orders Norddeutsche Landesbank – Girozentrale to bear its own costs and to pay those incurred by the Single Resolution Board.