Case T-403/21: Judgment of the General Court of 17 July 2024 – Norddeutsche Landesbank – Girozentrale v SRB (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 2021 ex ante contributions – Duty to state reasons – Equal treatment – Proportionality – SRB’s discretion – Manifest error of assessment – Plea of illegality – Commission’s discretion – Limitation of temporal effects of the judgment)
Date: 2024-07-17
Institutions: General Court
Subjects: EU banking union, bank, bank resolution, company in difficulties, discretionary power, equal treatment, financing plan, fund (EU), principle of proportionality, right to an effective remedy








C_202405228EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/5228


2.9.2024






Judgment of the General Court of 17 July 2024 – Norddeutsche Landesbank – Girozentrale v SRB


(Case T-403/21)
                (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 2021 ex ante contributions - Duty to state reasons - Equal treatment - Proportionality - SRB’s discretion - Manifest error of assessment - Plea of illegality - Commission’s discretion - Limitation of temporal effects of the judgment)
(C/2024/5228)
Language of the case: German

Parties


Applicant: Norddeutsche Landesbank – Girozentrale (Hanover, Germany) (represented by: J. Seitz and C. Marx, lawyers)

Defendant: Single Resolution Board (represented by: J. Kerlin, T. Wittenberg and C. De Falco, acting as Agents, and by G. Coppo, S. Reinart and K. Bongs, lawyers)

Intervener in support of the defendant: European Commission (represented by: D. Triantafyllou and A. Steiblytė, acting as Agents)

Re:

By its action under Article 263 TFEU, the applicant seeks the annulment of Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund, in so far as that decision concerns the applicant as the legal successor to Deutsche Hypothekenbank AG.

Operative part of the judgment

The Court:






1.


Annuls Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund, in so far as it concerns Norddeutsche Landesbank – Girozentrale as the legal successor to Deutsche Hypothekenbank AG;










2.


Maintains the effects of Decision SRB/ES/2021/22, in so far as it concerns Norddeutsche Landesbank – Girozentrale as the legal successor to Deutsche Hypothekenbank until the entry into force, within a reasonable period which cannot exceed six months from the date of delivery of the present judgment, of a new decision of the SRB fixing that institution’s ex ante contribution to the Single Resolution Fund for 2021;










3.


Orders the SRB to bear its own costs and to pay those incurred by Norddeutsche Landesbank – Girozentrale;










4.


Orders the European Commission to bear its own costs.






(1)  
            OJ C 368, 13.9.2021.


ELI: http://data.europa.eu/eli/C/2024/5228/oj
ISSN 1977-091X (electronic edition)