BAWAG PSK v ECB

Case T‑667/21 BAWAG PSK Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AGv European Central Bank Judgment of the General Court (Third Chamber, Extended Composition) of 28 February 2024(Economic and monetary policy – Prudential supervision of credit institutions – Second subparagraph of Article 9(1) of Regulation (EU) No 1024/2013 – Direct exercise by the ECB of a power of a competent authority under the relevant Union law – Levying absorption interest under Austrian law where Article 395 of Regulation (EU) No 575/2013 has been infringed – Competence of the ECB – Article 65(1) and Article 70 of Directive 2013/36/EU – Proportionality)1.      Economic and monetary policy – Economic policy – Supervision of the EU financial sector – Single supervisory mechanism – Prudential supervision of credit institutions – Powers of the European Central Bank (ECB) – Supervisory and investigatory powers – Powers of the competent authorities under the relevant Union law – Determination of administrative measures – –Levying absorption interest in respect of limits applicable to large exposures having been exceeded – Included(European Parliament and Council Regulation No 575/2013, Art. 395(1); Council Regulation No 1024/2013, Art. 9(1), second subpara.; European Parliament and Council Directive 2013/36, Arts 65(1) and 67(1) and (2))(see paragraphs 36, 39-46)2.      National law – Interpretation – Taking into account of the interpretation adopted by the courts of the Member State...