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Case T-540/22: Judgment of the General Court of 10 July 2024 – France v SRB (Economic and monetary policy – Banking Union – Single resolution mechanism for credit institutions and certain investment firms (SRM) – Regulation (EU) No 806/2014 – Minimum requirement for own funds and eligible liabilities – Decision of the SRB not to grant a waiver – Appeal before the Appeal Panel of the SRB – Dismissal – Condition that there is no impediment to the prompt transfer of own funds – SRB’s margin of discretion – Legal certainty – Obligation to state reasons)
ECLI:EU:UNKNOWN:62022TA0540
62022TA0540
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Official Journal of the European Union
C series
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C/2024/5093
26.8.2024
(Case T-540/22)
(Economic and monetary policy - Banking Union - Single resolution mechanism for credit institutions and certain investment firms (SRM) - Regulation (EU) No 806/2014 - Minimum requirement for own funds and eligible liabilities - Decision of the SRB not to grant a waiver - Appeal before the Appeal Panel of the SRB - Dismissal - Condition that there is no impediment to the prompt transfer of own funds - SRB’s margin of discretion - Legal certainty - Obligation to state reasons)
(C/2024/5093)
Language of the case: French
Parties
Applicant: French Republic (represented by: T. Stéhelin, E. Timmermans and B. Travard, acting as Agents)
Defendant: Single Resolution Board (represented by: H. Ehlers, M. Fernández Rupérez, and L. Forestier, acting as Agents, and by H.-G. Kamann and F. Louis, lawyers)
Re:
By its application under Article 263 TFEU, the French Republic seeks the annulment of Decision No 3/2021 of the Appeal Panel of the Single Resolution Board (SRB) of 8 June 2022, dismissing the action brought against Decision SRB/EES/2021/44, of 4 November 2021, determining the minimum requirement for own funds and eligible liabilities.
Operative part of the judgment
The Court:
1.Dismisses the application;
2.Orders the French Republic to pay the costs.
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Language of the case: French.
ELI: http://data.europa.eu/eli/C/2024/5093/oj
ISSN 1977-091X (electronic edition)
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*1 Language of the case: French.