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Case T-757/16: Judgment of the General Court of 13 July 2018 — Société générale v ECB (Economic and monetary policy — Prudential supervision of credit institutions — Article 4(1)(d) and (3) of Regulation (EU) No 1024/2013 — Calculation of the leverage ratio — The ECB’s refusal to authorise the applicant to exclude from the calculation of the leverage ratio the exposures fulfilling certain conditions — Article 429(14) of Regulation (EU) No 575/2013 — Discretion of the ECB — Errors of law — Manifest error of assessment)
ECLI:EU:UNKNOWN:62016TA0757
62016TA0757
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17.9.2018
Official Journal of the European Union
C 328/44
(Case T-757/16) (*)
((Economic and monetary policy - Prudential supervision of credit institutions - Article 4(1)(d) and (3) of Regulation (EU) No 1024/2013 - Calculation of the leverage ratio - The ECB’s refusal to authorise the applicant to exclude from the calculation of the leverage ratio the exposures fulfilling certain conditions - Article 429(14) of Regulation (EU) No 575/2013 - Discretion of the ECB - Errors of law - Manifest error of assessment))
(2018/C 328/59)
Language of the case: French
Parties
Applicant: Société générale (Paris, France) (represented by: initially A. Gosset-Grainville, C. Renner and P. Kupka, then A. Gosset-Grainville, P. Kupka and M. Trabucchi and finally A. Gosset-Grainville and M. Trabucchi, lawyers)
Defendant: European Central Bank (ECB) (represented by: K. Lackhoff, R. Bax and G. Bassani, acting as Agents, and by H.-G. Kamann and F. Louis, lawyers)
Intervener in support of the defendant: Republic of Finland (represented by: S. Hartikainen, acting as Agent)
Re:
Action based on Article 263 TFEU and seeking annulment of Decision ECB/SSM/2016 O2RNE8IBXP4R0TD8PU41/72 of the ECB, of 24 August 2016, pursuant to Article 4(1)(d), of Article 10 of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ 2013 L 287, p. 63), and of Article 429(14) 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/2016 O2RNE8IBXP4R0TD8PU41/72 of the European Central Bank of 24 August 2016;
2.Orders the ECB to pay the costs;
3.Orders the Republic of Finland to bear its own costs.
(*) Language of the case: French.
(1) OJ C 6, 9.1.2017.