The Single Resolution Board (SRB) takes note of yesterday’s judgments of the General Court of the European Union annulling the SRB’s decisions on the 2016 ex-ante contributions of Banco Cooperativo Español, Portigon, and Hypo Vorarlberg Bank to the Single Resolution Fund.
The judgments only relate to the ex-ante contributions of these three institutions for 2016. There will be no impact on the build-up of the Single Resolution Fund. The contributions of these entities represent a very small percentage of the overall ex-ante contributions collected from more than 3,700 institutions in 2016.
In the judgments, the Court identified certain flaws related to procedural elements of the decision-making process in 2016, when the SRB was in its start-up phase. It made no comment on the calculation methodology, nor on the validity of the legal framework for calculating the ex-ante contributions.
The SRB will carefully assess the content of the judgments in order to determine the next steps, which will be taken in cooperation with the relevant National Resolution Authorities (NRAs). The banks remain under the obligation to pay ex-ante contributions for 2016.
Contact our communications team
Recent press releases
SRB Chair Dominique Laboureix is taking part in the Trilateral Principal Level Exercise (TPLE) in Washington on Saturday, 20 April, joining heads of...
The SRB welcomes the news today that the ECB and the EBA are to boost efforts to make banking industry data reporting more efficient. The aim is to...
- The consultation gathers views from industry and other stakeholders to inform the adoption of the minimum bail-in data template.
- The consultation is...
Related news and press releases
After the completion of the target level verification exercise, the SRB confirms that the financial means available in the Single Resolution Fund (SRF...
- 2023 marks end of ‘build-up’ phase of SRF
- Emergency fund, paid for by banks, can help resolve a failing bank
- Every bank, big or small, operating...
- Fund to support bank resolution, paid for by the industry
- Every bank, big or small, operating across the 21-country Banking Union required to pay...