62023TO0374_INF
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.
(
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)	OJ C 314, 4.9.2023.