03/07/2024 (Agence Europe) – In a judgment handed down on Wednesday 3 July (case T-406/22), the General Court of the European Union ruled that the calculation made by the ‘Single Resolution Board’ (SRB) regarding the ex ante contribution to the ‘Single Resolution Fund’ (SRF) for 2022 in respect of the Austrian bank Volkskreditbank was unlawful. As found in several previous cases (T-411/22 - see EUROPE 13388/33 and T-395/22 - see EUROPE 13149/23), the SRB failed to comply with the requirement that the amount of ex ante contributions payable by all authorised institutions must not exceed 12.5% of the forecast final target level. The Court had already annulled Volkskreditbank’s contribution to the SRF for 2021 (see EUROPE 13335/33). See the Court’s judgment (in French): https://aeur.eu/f/cx5 (MB)