This document is an excerpt from the EUR-Lex website
Document 62018TA0576
Case T-576/18: Judgment of the General Court of 8 July 2020 — Crédit agricole 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 — Retroactive application of less severe enforcement legislation — Absence — Rights of defence — Amount of the penalty — Obligation to state reasons)
Case T-576/18: Judgment of the General Court of 8 July 2020 — Crédit agricole 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 — Retroactive application of less severe enforcement legislation — Absence — Rights of defence — Amount of the penalty — Obligation to state reasons)
Case T-576/18: Judgment of the General Court of 8 July 2020 — Crédit agricole 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 — Retroactive application of less severe enforcement legislation — Absence — Rights of defence — Amount of the penalty — Obligation to state reasons)
OJ C 313, 21.9.2020, p. 23–24
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
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21.9.2020 |
EN |
Official Journal of the European Union |
C 313/23 |
Judgment of the General Court of 8 July 2020 — Crédit agricole v ECB
(Case T-576/18) (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 - Retroactive application of less severe enforcement legislation - Absence - Rights of defence - Amount of the penalty - Obligation to state reasons)
(2020/C 313/34)
Language of the case: French
Parties
Applicant: Crédit agricole SA (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-75 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 4 300 000 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:
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1. |
Annuls Decision ECB/SSM/2018-FRCAG-75 of the European Central Bank (ECB) of 16 July 2018 in so far as it imposes on Crédit Agricole SA an administrative pecuniary penalty of EUR 4 300 000; |
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2. |
Dismisses the action as to the remainder; |
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3. |
Orders Crédit Agricole to bear its own costs; |
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4. |
Orders the ECB to bear its own costs. |