62022TJ0430_INF
Judgment of the General Court (Eighth Chamber, Extended Composition) of 23 October 2024 –Nordea Bank v SRB (2022 ex ante contributions)
(Case T‑430/22) (
1
)
(Economic and monetary union – Banking union – Single Resolution Mechanism of credit institutions and certain investment firms (SRM) – Single Resolution Fund (SRF) – Decision of the Single Resolution Board (SRB) on the calculation of the ex ante contributions for the 2022 contribution period – Article 70(2) of Regulation (EU) No 806/2014 – Error of law – Limitation of the temporal effects of the judgment)
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 on the aggregate amount of the individual contributions to the SRF set 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 paragraphs 32, 40)
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 on the aggregate amount of the individual contributions to the SRF set at 12.5% of the final target level – Scope – That threshold is not exceeded by the Single Resolution Board (SRB) – Criteria for assessment – Dynamic approach of the final target level
(European Parliament and Council Regulation No 806/2014, Arts 69(1) and 70(2), first and fourth subparas)
(see paragraphs 43, 47-50)
Operative part
The Court:
1.
Annuls Decision SRB/ES/2022/18 of the Single Resolution Board (SRB) of 11 April 2022 on the calculation of the 2022 ex ante contributions to the Single Resolution Fund (SRF) in so far as it concerns Nordea Bank Abp;
2.
Maintains the effects of Decision SRB/ES/2022/18, in so far as it concerns Nordea Bank, until the SRB has taken the measures necessary to implement the present judgment, which must occur within a reasonable period that cannot exceed six months from the day on which the present judgment becomes final;
3.
Orders the SRB to bear its own costs and to pay those incurred by Nordea Bank;
4.
Orders the European Parliament and the Council of the European Union to bear their own costs.
(
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)	OJ C 340, 5.9.2022.