No. 108 - Pandectae. Digest of the case-law on the Banking Union

Legal research

VI. Jul-Dec 2024

by Raffaele D'Ambrosio and Giuseppe Pala
July 2026
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With this issue of 'Pandectae', the periodic review of European and national case law on the Banking Union covers the second half of 2024, highlighting the continued centrality of litigation concerning the Single Resolution Mechanism (SRM).

A substantial portion of the case-law examined relates to the calculation of ex ante contributions to the Single Resolution Fund (SRF), an area in which the General Court delivered a series of important judgments clarifying both procedural and substantive requirements of decisions of the Single Resolution Board (SRB). In particular, the Court repeatedly censured deficiencies in the statement of reasons underpinning SRB decisions, emphasized the mandatory nature of the annual cap on contributions, and scrutinized the compatibility of implementing normative acts with the legal framework established by the SRM Regulation. These rulings confirm a growing judicial willingness to subject SRB decisions to intense review while preserving the stability objectives of the resolution framework.

The volume also analyses important judgments concerning bank resolution, where the Court of Justice further delineated the balance between financial stability and the protection of shareholders and creditors' rights. The Banco Popular litigation generated significant rulings confirming the primacy of resolution objectives and limiting post-resolution claims capable of undermining the effectiveness of bail-in and transfer measures. Other decisions clarified the recognition of reorganisation measures across Member States, judicial protection against resolution actions, and the operational independence required of resolution authorities.

In the field of the Single Supervisory Mechanism (SSM), the courts addressed several foundational issues relating to ECB supervisory powers. The judgments examined the withdrawal of banking licences on AML/CFT grounds, the ECB's exclusive competence concerning qualifying holdings, access to supervisory documents, and supervisory measures directed at reducing risks connected with activities in Russia. Collectively, these cases reinforce the ECB's broad supervisory discretion while clarifying the limits of judicial review and procedural safeguards available to supervised entities and stakeholders.

The volume further considers decisions of the SRB Appeal Panel, which continued to play a significant role in reviewing SRB determinations, particularly regarding access to documents and procedural guarantees in resolution-related matters. These decisions illustrate the importance of internal administrative review mechanisms as an integral component of the Banking Union's accountability framework.

Finally, the survey extends to national apex courts, focusing on Austria and Italy. Austrian judgments address supervisory liability, prudential consolidation, and challenges to SRF contributions, while the Italian section examines the sustained litigation surrounding administrative sanctions imposed by Banca d'Italia and the legal consequences of bank resolution measures. Of particular relevance is the Italian Supreme Court's reconsideration of its previous stance on the liabilities transferable to bridge institutions, confirming an approach designed to preserve the effectiveness of bank resolution and financial stability objectives.

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  1. 15 September 2026
    No. 108 - Pandectae. Digest of the case-law on the Banking Union
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    VI. Jul-Dec 2024