62020TJ0230_INF
Judgment of the General Court (Tenth Chamber) of 7 December 2022 –PNB Banka v ECB
(Case T‑230/20) (
1
)
(Economic and monetary policy – Prudential supervision of credit institutions – Regulation (EU) No 1024/2013 – Specific supervisory tasks assigned to the ECB – Decision to withdraw the authorisation of the credit institution PNB Banka – Proposal of the national competent authority to withdraw authorisation – Insolvency decision in respect of PNB Banka – Reasonable time – Obligation to state reasons – Proportionality)
1.
Judicial proceedings – Oral part of the procedure – Holding of a hearing – Conditions – No request for a hearing or request with no statement of reasons – Power of the Court to rule on the action without an oral part of the procedure – Whether permissible
(Rules of Procedure of the General Court, Art. 106; Practice Rules for the Implementation of the Rules of Procedure of the General Court, points 142 and 143)
(see paragraphs 16, 17)
2.
Acts of the institutions – Statement of reasons – Obligation – Scope – Assessment of the duty to state reasons by reference to the circumstances of the case – Need to specify all the relevant factual and legal elements – None
(Art. 296 TFEU)
(see paragraphs 28-30)
3.
Judicial proceedings – Application initiating proceedings – Formal requirements – Summary of the pleas in law on which the application is based
(Rules of Procedure of the General Court, Art. 76(d))
(see paragraphs 58, 59)
4.
Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Significant entities subject to the exclusive competence of the European Central Bank (ECB) in the context of prudential supervision – Declaration by the ECB that an entity is failing or is likely to fail – Duties of the ECB – Duty to act within a reasonable time – Criteria for assessment – Infringement – None
(Charter of Fundamental Rights of the European Union, Art. 41(1); European Central Bank Regulation No 468/2014, Art. 83(1))
(see paragraphs 69-72, 75)
5.
EU law – Principles – Rights of the defence – Observance thereof in the context of administrative proceedings – Scope
(see paragraphs 88-95)
6.
Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Power of the European Central Bank to impose penalties – Scope – Limits – Observance of the principle of proportionality
(Art. 5(4) TEU)
(see paragraphs 120, 126, 127)
7.
Judicial proceedings – Measures of organisation of procedure – Request for production of documents – Discretion of the EU judicature – Duties of the person making the request – Identification of the documents requested and provision of information indicating their utility for the purposes of the proceedings
(Rules of Procedure of the General Court, Art. 89(3)(d))
(see paragraphs 137, 138)
Operative part
The Court:
1.
Dismisses the action;
2.
Orders PNB Banka AS to bear its own costs and to pay those incurred by the European Central Bank (ECB), including those incurred in the proceedings for interim relief;
3.
Orders the Republic of Latvia to bear its own costs.
(
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)	OJ C 209, 22.6.2020.