CELEX: 62018TA0577
Language: en
Date: 2020-07-08 00:00:00
Title: Case T-577/18: Judgment of the General Court of 8 July 2020 — Crédit agricole Corporate and Investment Bank v ECB (Economic and monetary policy — Prudential supervision of credit institutions — Article 18(1) of Regulation (EU) No 1024/2013 — Administrative pecuniary penalty imposed by the ECB on a credit institution — First subparagraph of Article 26(3) of Regulation (EU) No 575/2013 — Continued breach of capital requirements — Negligent breach — Rights of defence — Amount of the penalty — Obligation to state reasons)

21.9.2020   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 313/24
            
         
      Judgment of the General Court of 8 July 2020 — Crédit agricole Corporate and Investment Bank v ECB
      (Case T-577/18) (1)
      
      (Economic and monetary policy - Prudential supervision of credit institutions - Article 18(1) of Regulation (EU) No 1024/2013 - Administrative pecuniary penalty imposed by the ECB on a credit institution - First subparagraph of Article 26(3) of Regulation (EU) No 575/2013 - Continued breach of capital requirements - Negligent breach - Rights of defence - Amount of the penalty - Obligation to state reasons)
      (2020/C 313/35)
      Language of the case: French
      
         Parties
      
      
         Applicant: Crédit agricole Corporate and Investment Bank (Montrouge, France) (represented by: A. Champsaur and A. Delors, lawyers)
      
         Defendant: European Central Bank (represented by: C. Hernández Saseta, A. Pizzolla and D. Segoin, acting as Agents)
      
         Re:
      
      Application under Article 263 TFEU for annulment of Decision ECB/SSM/2018-FRCAG-76 of the ECB of 16 July 2018, taken pursuant to Article 18(1) of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions (OJ 2013 L 287, p. 63) and imposing on the applicant an administrative pecuniary penalty of EUR 300 000 for continued breach of the capital requirements laid down in Article 26(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ 2013 L 176, p. 1, and corrigenda OJ 2013 L 208, p. 68, and OJ 2013 L 321, p. 6).
      
         Operative part of the judgment
      
      The Court:
      
                  1.
               
               
                  Annuls Decision ECB/SSM/2018-FRCAG-76 of the European Central Bank (ECB) of 16 July 2018 in so far as it imposes on Crédit agricole Corporate and Investment Bank an administrative pecuniary penalty of EUR 300 000;
               
            
                  2.
               
               
                  Dismisses the action as to the remainder;
               
            
                  3.
               
               
                  Orders Crédit agricole Corporate and Investment Bank to bear its own costs;
               
            
                  4.
               
               
                  Orders the ECB to bear its own costs.
               
            
         (1)  OJ C 436, 3.12.2018.