Case T-599/22: Judgment of the General Court of 4 September 2024 – Hypo Vorarlberg Bank v SRB (2017 ex ante contributions) (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 2017 contribution period – Determination of the annual target level of the SRF – Obligation to state reasons – Article 291(2) TFEU – Article 70(7) of Regulation (EU) No 806/2014 – Implementing Regulation (EU) 2015/81 – Implementing powers conferred on the Council – Duly justified specific cases – Scope of the implementing powers – Limitation of the temporal effects of the judgment)
Date: 2024-09-04
Institutions: General Court
Subjects: EU banking union, bank, bank resolution, financing method, financing plan, fund (EU)








C_202406086EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/6086


21.10.2024






Judgment of the General Court of 4 September 2024 – Hypo Vorarlberg Bank v SRB (2017 ex ante contributions)


(Case T-599/22)
                (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 2017 contribution period - Determination of the annual target level of the SRF - Obligation to state reasons - Article 291(2) TFEU - Article 70(7) of Regulation (EU) No 806/2014 - Implementing Regulation (EU) 2015/81 - Implementing powers conferred on the Council - Duly justified specific cases - Scope of the implementing powers - Limitation of the temporal effects of the judgment)
(C/2024/6086)
Language of the case: German

Parties


Applicant: Hypo Vorarlberg Bank AG (Bregenz, Austria) (represented by: G. Eisenberger, A. Brenneis and J. Holzmann, lawyers)

Defendant: Single Resolution Board (represented by: J. Kerlin, D. Ceran, C. Flynn and T. Wittenberg, acting as Agents, and by B. Meyring and T. Klupsch, lawyers)

Interveners in support of the defendant: European Parliament (represented by: G. Bartram, J. Etienne and M. Menegatti, acting as Agents), Council of the European Union (represented by: J. Haunold, J. Bauerschmidt and A. Westerhof Löfflerová, acting as Agents)

Re:

By its action under Article 263 TFEU, the applicant seeks the annulment of Decision SRB/ES/2022/41 of the Single Resolution Board (SRB) of 25 July 2022 on the calculation of the 2017 ex ante contributions to the Single Resolution Fund (SRF) of Hypo Vorarlberg Bank AG and of Portigon AG, in so far as that decision concerns it.

Operative part of the judgment

The Court:






1.


Annuls Decision SRB/ES/2022/41 of the Single Resolution Board (SRB) of 25 July 2022 on the calculation of the 2017 ex ante contributions to the Single Resolution Fund (SRF) of Hypo Vorarlberg Bank AG and Portigon AG, in so far as it concerns Hypo Vorarlberg Bank;










2.


Maintains the effects of Decision SRB/ES/2022/41, in so far as it concerns Hypo Vorarlberg Bank, until the measures necessary to implement the present judgment are taken, which must occur within a reasonable period that cannot exceed 12 months from the day on which the present judgment becomes final;










3.


Orders the SRB to bear its own costs and pay those incurred by Hypo Vorarlberg Bank;










4.


Orders the European Parliament and the Council of the European Union to bear their own costs.






(1)  
            OJ C 424, 7.11.2022.


ELI: http://data.europa.eu/eli/C/2024/6086/oj
ISSN 1977-091X (electronic edition)