1. 

EU law – Interpretation – Methods – Literal, systematic and teleological interpretation

(see para. 42)

2. 

Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Obligation to obtain the permission of the competent authorities before classifying a capital instrument as a Category 1 instrument – Concept of permission of the competent authorities – Scope

(European Parliament and Council Regulation No 575/2013, Art. 26(3))

(see paras 43-47, 52-57)

3. 

Action for annulment – Jurisdiction of the EU judicature – Interpretation of EU law – Guidance from an administrative authority – Binding nature – Absence

(Art. 19 TEU)

(see para. 59)

4. 

Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Continued breach of capital requirements – Negligent breach – Concept – Scope

(European Parliament and Council Regulation No 575/2013, Art. 26(3); Council Regulation No 1024/2013, Art. 18(1))

(see paras 65-70, 74-81)

5. 

EU law – Principles – Rights of defence – Application to any procedure opened against any person likely to end in a measure adversely affecting him – Principle to be assured even in the absence of legislation governing the procedure in question

(see para. 89)

6. 

Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Administrative pecuniary penalty imposed by the European Central Bank (ECB) – Statement of objections – Necessary content – Observance of the rights of the defence – Criteria for assessment

(Council Regulation No 1024/2013, Art. 22(1); European Central Bank Regulation No 468/2014, Art. 126)

(see paras 94-98)

7. 

Action for annulment – Pleas in law – Infringement of essential procedural requirements – Inadequate statement of reasons – To be considered of the Court’s own motion – Obligation to comply with the audi ateram partem principle

(Arts 263 and 296 TFEU)

(see paras 110, 111)

8. 

Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Administrative pecuniary penalty imposed by the European Central Bank (ECB) – Amount – Discretion enjoyed by the European Central Bank – Obligation to state reasons – Scope –– Decision which is insufficiently clear as to the methodology applied and the factors taken into consideration to determine the amount of the penalty – Regularisation during the proceedings – Not permissible – Insufficient statement of reasons

(Art. 296 TFEU; Council Regulation No 1024/2013, Art. 18(1) and (3))

(see paras 116-126, 130-141)

1. 

Annuls Decision ECB/SSM/2018-FRCAG-77 of the European Central Bank (ECB) of 16 July 2018 in so far as it imposes on CA Consumer Finance an administrative pecuniary penalty of EUR 200000;

2. 

Dismisses the action as to the remainder;

3. 

Orders CA Consumer Finance to bear its own costs;

4. 

Orders the ECB to bear its own costs.