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Case T-301/19: Judgment of the General Court of 7 December 2022 — PNB Banka v ECB (Economic and monetary policy — Prudential supervision of credit institutions — Article 6(5)(b) of Regulation (EU) No 1024/2013 — Need for the ECB’s direct supervision of a less significant credit institution — Request by the national competent authority — Article 68(5) of Regulation (EU) No 468/2014 — ECB decision classifying PNB Banka as a significant entity subject to its direct prudential supervision — Obligation to state reasons — Proportionality — Rights of the defence — Access to the administrative file — Report laid down in Article 68(3) of Regulation No 468/2014 — Article 106 of the Rules of Procedure — Request for a hearing lacking a statement of reasons)
ECLI:EU:UNKNOWN:62019TA0301
62019TA0301
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Official Journal of the European Union
C 35/46
(Case T-301/19) (*)
(Economic and monetary policy - Prudential supervision of credit institutions - Article 6(5)(b) of Regulation (EU) No 1024/2013 - Need for the ECB’s direct supervision of a less significant credit institution - Request by the national competent authority - Article 68(5) of Regulation (EU) No 468/2014 - ECB decision classifying PNB Banka as a significant entity subject to its direct prudential supervision - Obligation to state reasons - Proportionality - Rights of the defence - Access to the administrative file - Report laid down in Article 68(3) of Regulation No 468/2014 - Article 106 of the Rules of Procedure - Request for a hearing lacking a statement of reasons)
(2023/C 35/52)
Language of the case: English
Parties
Applicant: PNB Banka AS (Riga, Latvia) (represented by: O. Behrends, lawyer)
Defendant: European Central Bank (represented by: C. Hernández Saseta, F. Bonnard and D. Segoin, acting as Agents)
Re:
By its action based on Article 263 TFEU, the applicant seeks annulment of the decision of the European Central Bank (ECB), notified by letter of 1 March 2019, to classify the applicant as a significant entity subject to its direct prudential supervision.
Operative part of the judgment
The Court:
1.Dismisses the action;
2.Orders PNB Banka AS to bear its own costs and to pay those incurred by the European Central Bank (ECB).
(*) Language of the case: English.
(1) OJ C 246, 22.7.2019.