Link: https://curia.europa.eu/jcms/upload/docs/application/pdf/2024-04/cp240062en.pdf

Languages available: es de en fr it pl pt

PRESS RELEASE No 62/24

Luxembourg, 10 April 2024

Judgment of the General Court in Case T-411/22 | Dexia v SRB (2022 ex-ante contributions)

The calculation of the 2022 ex ante contributions to the Single Resolution Fund (SRF) is unlawful The Single Resolution Board (SRB) exceeded an annual upper limit imposed by the applicable rules

The French credit institution Dexia has challenged before the General Court of the European Union the lawfulness of the SRB’s decision 1 setting the 2022 ex-ante contributions 2 to the SRF, in so far as that decision concerns Dexia.

According to Dexia, when calculating individual ex ante contributions for a given year, the SRB must not exceed an upper limit imposed by the applicable legislation 3 . In particular, the ex-ante contributions of all the institutions authorised in the territories of all the Member States participating in the Single Resolution Mechanism (SRM) are not to exceed 12.5% of the financial means that should be available in the SRF at the end of 2023 (“the final target level”) 4 . The SRB disregarded that limit. (...)