This paper discusses EU case law developed over the past decade relating to decisions taken by the European Central Bank within the Single Supervisory Mechanism (SSM) and within the Single Resolution Mechanism (SRM). The cases centre around embracing and solidifying the BU framework, inter alia, with the admissibility to challenge ECB’s supervisory and licence withdrawal decisions, the application of national law by the ECB in its supervisory competence and the methodology attached to the setting of administrative pecuniary penalties. Other cases concern the determination of the ex-ante contributions to the Single Resolution Fund, the perimeter of resolution decision-making, and the responsibility of the decision-making bodies involved in the resolution process.
Authors
- Pages
- 46
- Published in
- Belgium
Table of Contents
- CONTENTS 5
- LIST OF ABBREVIATIONS 6
- liST OF BOXES 7
- List of TABLES 7
- EXECUTIVE SUMMARY 7
- 1. INTRODUCTION 9
- 2. banking supervision 11
- 2.1. Shaping the system 11
- 2.2. Scope of banking supervision 13
- 2.2.1. Common Supervisory Procedures 13
- Authorisation and withdrawal 13
- Qualifying holdings procedures 16
- Box 3: Case C-219/17 Berlusconi and Fininvest: common supervisory procedure and preparatory acts in the EU system of remedies 18
- 2.2.2. ECB’s consolidated supervision 19
- 2.2.3. Application of National Law 20
- 2.2.4. Enforcement 21
- 2.3. Administrative review 24
- 3. Bank resolution 26
- 3.1. Most contentious area of litigation: SRF ex-ante contributions 26
- 3.1.1. SRF status and calculations of ex-ante contributions 26
- 3.1.2. Landesbank Baden-Württemberg – 2017 ex-ante contributions 27
- 3.1.3. Banque Postale and others – 2021 ex-ante contributions 28
- Box 6: 2021 ex-ante contributions: progress on litigation and languages 29
- 3.1.4. Dexia and others – 2022 ex-ante contributions 29
- 3.2. Shaping the perimeter of resolution decision-making 30
- 3.2.1. Judicial review of the Resolution scheme 31
- 3.2.2. Review of the FOLTF Assessment and (non) resolution decision 32
- 3.2.3. Locus of discretion in resolution decision-making and Meroni Doctrine 33
- 3.3. SRB Appeal Panel 33
- 4. The European Banking Union (EBU) and other frameworks 34
- 4.1. EBU and judicial dialogue 34
- 4.2. EBU and Anti-Money Laundering 36
- 4.3. EBU and liquidation 37
- 5. Main Takeaways 38
- 6. REFERENCES 42
- Appendix 45
- List of some pending cases to follow in BU litigation 45
