Judgment of the General Court (Eighth Chamber, Extended Composition) of 20 March 2024

1. EU lawPrinciplesLegal certaintyEU rulesRequirements of clarity and foreseeabilityProvisions concerning ex ante contributions to resolution financing arrangementsDiscretion granted to the Single Resolution Board (SRB) regarding the methodology for calculating ex ante contributionsConditionsSufficiently clear indication of the scope of the discretion and the manner of its exercise

(Commission Regulation 2015/63, Arts 6(5) to (7) and 7(4))

(see paragraphs 87-90, 92)

2. 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)

(see paragraphs 105, 107, 112, 162)

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 contributionWeighing 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 283-294, 315, 317)

4. Acts of the institutionsStatement of reasonsObligationScopeExplanations regarding the reasons for the measure provided by the author during the proceedings before the EU judicatureConditionsThere must be no contradictions and the explanations must be consistent with those reasons

(Art. 296, second para., TFEU)

(see paragraphs 352, 353)

5. Acts of the institutionsStatement of reasonsObligationScopeDecision of the Single Resolution Board (SRB) establishing the ex ante contributions to the Single Resolution Fund (SRF)Obligation for the SRB to disclose to the institutions concerned the methodology for calculating those contributions and the methodology for setting the amount of the annual target level

(Art. 296, second para., TFEU; European Parliament and Council Regulation No 806/2014; Council Regulation 2015/81, Art. 4; Commission Regulation 2015/63, Arts 4 to 7 and 9 and Annex I; European Parliament and Council Directive 2014/59)

(see paragraphs 355, 356)

Operative part

The Court:

1. Annuls Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund, in so far as it concerns DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main;

2. Maintains the effects of Decision SRB/ES/2021/22, in so far as it concerns DZ Bank AG Deutsche Zentral-Genossenschaftsbank, until the entry into force, within a reasonable period which cannot exceed six months from the date of delivery of the present judgment, of a new decision of the SRB fixing the ex ante contribution to the Single Resolution Fund of that institution for the 2021 contribution period;

3. Orders the SRB to bear its own costs and to pay those incurred by DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main;

4. Orders the European Commission to bear its own costs.