| 13.12.2021 | EN | Official Journal of the European Union | C 502/38 |
Action brought on 12 October 2021 — BAWAG PSK v ECB
(Case T-667/21)
(2021/C 502/57)
Language of the case: English
Parties
Applicant: BAWAG PSK Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG (Wien, Austria) (represented by: H. Bälz and D. Bliesener, lawyers)
Defendant: European Central Bank
Form of order sought
The applicant claims that the Court should:
| — | annul the defendant’s decision of 2 August 2021 (1); and |
| — | order the defendant to pay the costs. |
Pleas in law and main arguments
In support of the action, the applicant relies on five pleas in law.
| 1. | First plea in law, alleging that the defendant is incompetent to impose absorption interest under Sec. 97(1) of the Austrian Banking Act (‘BWG’). |
| 2. | Second plea in law, alleging that the imposition of absorption interest under Sec. 97(1) BWG is time barred. |
| 3. | Third plea in law, alleging that the applicant did not breach the large exposure limit provided in Art. 395(1) of Regulation (EU) No 375/2013 (2). |
| 4. | Fourth plea in law, alleging that the contested decision infringes the applicant’s right to be heard. |
| 5. | Fifth plea in law, alleging that the defendant incorrectly calculated the amount of absorption interest under Sec. 97(1) BWG. |
(1) No SSM- 2021-ATBAW-7_ESA-2018-0000126.
(2) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 Text with EEA relevance (OJ 2013 L 176, p. 1-337).