Order of the General Court (Eighth Chamber, Extended Composition) of 15 May 2025 – UniCredit Bank v SRB (2020 ex ante contributions)
(Case T‑431/20)
(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 2020 ex ante contributions – Article 70(2) of Regulation (EU) No 806/2014 – Action manifestly well founded – Limitation of the temporal effects of the order)
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Judicial proceedings – Pleas in the application – Modification in the course of proceedings – Decision amending the contested decision in the course of the proceedings – Adaptation of initial forms of order sought and pleas in law – Whether permissible – Conditions (Rules of Procedure of the General Court, Art. 86) (see paragraphs 18-20) |
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Economic and monetary policy – Economic policy – Single Resolution Mechanism for credit institutions and certain investment firms – Ex ante contributions to the Single Resolution Fund (SRF) – Annual cap on the aggregate amount of the individual contributions to the SRF fixed at 12.5% of the final target level – Scope – Application during the initial period (European Parliament and Council Regulation No 806/2014, Art. 70(2), first and fourth subparas) (see paragraph 42) |
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Economic and monetary policy – Economic policy – Single Resolution Mechanism for credit institutions and certain investment firms – Ex ante contributions to the Single Resolution Fund (SRF) – Annual cap on the aggregate amount of the individual contributions to the SRF fixed at 12.5% of the final target level – Scope – Cap not to be exceeded by the Single Resolution Board (SRB) – Criteria for assessment – Dynamic approach to the final target level (European Parliament and Council Regulation No 806/2014, Arts 69(1) and 70(2), first and fourth subparas) (see paragraph 43) |
Operative part
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Decision SRB/ES/2022/80 of the Single Resolution Board (SRB) of 7 December 2022 on the calculation of the 2020 ex ante contributions to the Single Resolution Fund (SRF) is annulled in so far as it concerns UniCredit Bank GmbH, formerly UniCredit Bank AG. |
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The effects of Decision SRB/ES/2022/80 in so far as it concerns UniCredit Bank, formerly UniCredit Bank are maintained until the SRB has taken the measures necessary to implement the present order, which must occur within a reasonable period that cannot exceed six months from the day on which the present order becomes final. |
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The SRB shall bear its own costs and pay those incurred by UniCredit Bank, formerly UniCredit. |