Order of the General Court (Eighth Chamber, Extended Composition) of 26 May 2025

1. EU institutionsExercise of powersPower conferred on the Commission to adopt delegated actsScopeComplex assessments and evaluationsBroad discretionDetermination of the methodology for calculating the ex ante contributions to the Single Resolution Fund (SRF)Establishment of the criteria for adjusting those contributionsJudicial reviewLimits

(Art. 290 TFEU; European Parliament and Council Regulation No 806/2014, recital 41; Commission Regulation 2015/63; European Parliament and Council Directive 2014/59, Art. 103(7))

(see paragraphs 53, 54)

2. Acts of the institutionsTemporal applicationNon-retroactivityExceptionsConditionsAccomplishment of an objective in the general interest and respect for legitimate expectationsWithdrawal of a decision of the Single Resolution Board (SRB) setting ex ante contributions to the Single Resolution Fund (SRF) in order to rectify a failure to state reasonsAdoption of a decision entering into force on the date that the earlier decision takes effectNo amendments to the amount and the calculation of those contributionsAccount taken of the purpose of contributions to the SRFWhether permissible

(European Parliament and Council Regulation No 806/2014, Arts 2, 67(4), 69 and 70)

(see paragraphs 76, 77, 82)

3. Acts of the institutionsStatement of reasonsObligationScopeDecision of the Single Resolution Board (SRB) establishing the ex ante contributions to the Single Resolution Fund (SRF)Not necessary to include, in that decision, all figures necessary for verifying the accuracy of the calculation of the contributionsWeighing the obligation to state reasons against the general principle of protection of the business secrets of the institutions concernedLegality of the provisions concerning the methodology for calculating the ex ante contributions to the SRFPrinciple of non-disclosure of business secretsObligation for the SRB to publish or disclose to the institutions concerned, in collective and anonymised form, the information relating to the institutions that was used to calculate the ex ante contribution

(Art. 296, second para., TFEU; European Parliament and Council Regulation No 806/2014; Commission Regulation 2015/63, Arts 4 to 7 and 9 and Annex I; European Parliament and Council Directive 2014/59)

(see paragraphs 90-102, 124)

4. EU lawPrinciplesRights of the defenceRight to be heardScopeCommunication from the Single Resolution Board (SRB) informing the applicant of the withdrawal of a decision and its replacementWhether permissibleNo infringement of the right to be heard

(Charter of Fundamental Rights of the European Union, Art. 41(2)(a))

(see paragraphs 150, 160)

5. EU lawPrinciplesRights of the defenceRight to be heardScopeOnline form inviting the credit institutions concerned to submit their observations on the calculation of the ex ante contributions payable to the Single Resolution Fund (SRF)Whether permissibleNo infringement of the right to be heard

(Charter of Fundamental Rights of the European Union, Art. 41(2)(a))

(see paragraphs 169, 171, 175)

6. EU institutionsExercise of powersPower conferred on the Commission to adopt delegated actsScopeComplex assessments and evaluationsBroad discretionDetermination of the methodology for calculating the ex ante contributions to the Single Resolution Fund (SRF)Application and weighting of the Institutional Protection Scheme (IPS) risk indicatorJudicial reviewLimits

(Commission Regulation 2015/63, Art. 7(4))

(see paragraphs 192, 193, 241)

7. Economic and monetary policyEconomic policySingle Resolution Mechanism for credit institutions and certain investment firms Ex ante contributions to the Single Resolution Fund (SRF)Calculation of the adjusting multiplier of the contributions according to the risk profile of the credit institutionsNo infringement of the freedom to conduct a business

(Charter of Fundamental Rights of the European Union, Art. 16; Commission Regulation 2015/63, Art. 7(4) and recital 1)

(see paragraphs 265-268)

Operative part

1. The action is dismissed.

2. Norddeutsche Landesbank – Girozentrale shall bear its own costs and pay those incurred by the Single Resolution Board (SRB).

3. The European Commission shall bear its own costs.