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Case C-255/18: Judgment of the Court (First Chamber) of 14 November 2019 (request for a preliminary ruling from the Tribunale amministrativo regionale per il Lazio — Italy) — State Street Bank International GmbH v Banca d’Italia (Reference for a preliminary ruling — Directive 2014/59/EU — Recovery and resolution of credit institutions — National financing arrangement — Resolution authority — National fund — Articles 103 and 104 — Obligation to contribute — Ex ante contributions and extraordinary ex post contributions — Calculation — Late transposition of the directive — Delegated Regulation (EU) 2015/63 — Articles 12 and 14 — Concept of ‘change of status’ — Impact on the obligation to contribute)
ECLI:EU:UNKNOWN:62018CA0255
62018CA0255
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13.1.2020
Official Journal of the European Union
C 10/9
(Case C-255/18) (*)
(Reference for a preliminary ruling - Directive 2014/59/EU - Recovery and resolution of credit institutions - National financing arrangement - Resolution authority - National fund - Articles 103 and 104 - Obligation to contribute - Ex ante contributions and extraordinary ex post contributions - Calculation - Late transposition of the directive - Delegated Regulation (EU) 2015/63 - Articles 12 and 14 - Concept of ‘change of status’ - Impact on the obligation to contribute)
(2020/C 10/10)
Language of the case: Italian
Referring court
Parties to the main proceedings
Applicant: State Street Bank International GmbH
Defendant: Banca d’Italia
Intervener: Banco delle Tre Venezie SpA
Operative part of the judgment
1.The concept of ‘change of status’, within the meaning of Article 12(2) of Commission Delegated Regulation (EU) 2015/63 of 21 October 2014 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to ex ante contributions to resolution financing arrangements, must be interpreted as including a transaction, such as that at issue in the main proceedings, by which an institution ceases, in the course of a year, to be under the supervision of the national resolution authority following a cross-border merger through acquisition by its parent company, and as a result that transaction has no impact on the institution’s obligation to pay in full the ordinary contributions due for the contribution year in question.
2.Article 12(2) of Delegated Regulation 2015/63 must be interpreted as applying to a situation in which a cross-border merger by acquisition of an institution located in one Member State, by its parent company established in another Member State, and the resulting dissolution of the acquired institution, took place in 2015, at a time when the first Member State had not yet formally established either the national resolution authority or the national fund and the contributions had not yet been calculated.
3.Article 104 of Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, must be interpreted as meaning that an institution located in one Member State, which merged through acquisition with a parent company established in another Member State on a date prior to the establishment of an extraordinary contribution by the first Member State’s national resolution authority, is not required to pay that contribution.
*
Language of the case: Italian
(*)
(1) OJ C 249, 16.7.2018.