Commission Decision (EU) 2017/1246 of 7 June 2017 endorsing the resolution scheme for Banco Popular Español S.A. (notified under document C(2017) 4038) (Only the English text is authentic)
In forceVersion 2017-06-07from 2017-07-11
Grade B
mapped from publisher markup. A grade says how a document's structure was obtained, not how reliable the law is.
Address https://gelex.eu/eli/EU/decision/2017/1246@2017-06-07/en
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to the Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010, and in particular the second subparagraph of Article 18(7) thereof,
Whereas:
(1) On 7 June 2017 at 05:13 the Single Resolution Board (SRB) transmitted a resolution scheme for Banco Popular Español S.A. to the Commission in accordance with Article 18(7) of Regulation (EU) No 806/2014.
(2) The SRB, in the resolution scheme, states that all conditions for resolution set out in the first subparagraph of Article 18(1) of Regulation (EU) No 806/2014 are met with respect to Banco Popular Español S.A., and assesses why resolution action is necessary in the public interest.
(3) The resolution scheme, in accordance with Article 18(6) of Regulation (EU) No 806/2014, places Banco Popular Español S.A. under resolution and determines the application of the sale of business tool to the institution under resolution. The resolution scheme also provides reasons for why all those elements are adequate.
(4) The Commission agrees with the resolution scheme. In particular, it agrees with the reasons provided by the SRB of why resolution is necessary in the public interest in accordance with Article 5 of Regulation (EU) No 806/2014.
(5) The resolution scheme as submitted by the SRB should therefore be endorsed,
HAS ADOPTED THIS DECISION:
Article 1
The resolution scheme for Banco Popular Español S.A. is endorsed.
Article 2
This Decision is addressed to the Single Resolution Board.
Done at Brussels, 7 June 2017. For the Commission Valdis Dombrovskis Vice-President
Versions
Cited by
- Action brought on 4 August 2017 — Financiere Tesalia and Others v Commission and SRB (Case T-508/17) Notice · Grade B
Commission Decision (EU) 2017/1246 of 7 June 2017 endorsing the resolution scheme for Banco Popular Español.
- Order of the General Court of 21 July 2025 – Global Sistematic Investment Sicav v Commission and SRB (Case T-499/17) Notice · Grade B
Action for annulmentEconomic and monetary policySingle resolution mechanism for credit institutions and certain investment firmsResolution scheme in respect of Banco Popular EspañolAction manifestly lacking any foundation in lawC/2025/5336Language of the case: Spanish Applicant: Global Sistematic Investment Sicav, SL (Madrid, Spain) (represented by: E. Pastor Palomar, F. Arroyo Romero and N. Subuh Falero, lawyers) Defendants: European Commission (represented by: P. Němečková, A. Steiblytė and A. Manzaneque Valverde, acting as Agents, and by J. Rivas Andrés, lawyer), Single Resolution Board (re
- Opinion of Advocate General Richard de la Tour delivered on 2 December 2021 Case C‑410/20 Banco Santander SA v J.A.C., M.C.P.R. (Request for a preliminary ruling from the Audiencia Provincial de A Coruña (Provincial Court, A Coruña, Spain)) Opinion · Grade B
By Decision SRB/EES/2017/08 of 7 June 2017, based on Article 18 of Regulation No 806/2014, the SRB adopted a resolution scheme in respect of Banco Popular Español SA (Banco Popular). That scheme was endorsed by Commission Decision (EU) 2017/1246 of 7 June 2017.
- Judgment of the General Court (Third Chamber, Extended Composition) 22 November 2023 Judgment · Grade B
On 7 June 2017, the European Commission adopted Decision (EU) 2017/1246 endorsing the resolution scheme for Banco Popular (OJ 2017 L 178, p. 15).
- Judgment of the General Court (Third Chamber, Extended Composition) 22 November 2023 Judgment · Grade B
Indeed, it should be recalled that the SRB considered, in the resolution scheme, that the conditions laid down in Article 18(1) of Regulation No 806/2014 were met, and that in Decision 2017/1246, having found that the resolution scheme complied with the provisions of Regulation No 806/2014, the Commission endorsed that scheme. Therefore, at the date of the adoption of the resolution scheme, first, Banco Popular was failing or was likely to fail, second, there were no alternative measures that could prevent the failure of Banco Popular within a reasonable time frame and, third, a resolution act
- Action brought on 4 August 2017 — Sánchez del Valle and Calatrava Real State 2015 v Commission and SRB (Case T-497/17) Notice · Grade B
Annul Commission Decision (EU) 2017/1246 of 7 June 2017 endorsing the resolution scheme for Banco Popular Español, S.A.;
- Judgment of the Court (Grand Chamber) 18 June 2024 Judgment · Grade B
On the same day, at 6.30 a.m., the Commission adopted Decision (EU) 2017/1246 endorsing the resolution scheme for Banco Popular Español SA (OJ 2017 L 178, p. 15) and notified it to the SRB. Recital 4 of that decision, as corrected on 6 December 2017 (OJ 2017 L 320, p. 31) states as follows: The Commission agrees with the resolution scheme. In particular, it agrees with the reasons provided by the SRB of why resolution is necessary in the public interest in accordance with Article 18(5) of [the SRM Regulation].
- Judgment of the Court (Grand Chamber) 18 June 2024 Judgment · Grade B
Even though the SRB confined itself to claiming that the action should be dismissed on the merits, without challenging its admissibility, the Commission pleaded in its statement in intervention that the action was inadmissible. The Commission submitted that the resolution scheme at issue was only an intermediate act, which produced no binding legal effects, since, by Decision 2017/1246, it had approved that resolution scheme, had endorsed it and had given it such effects.
- Judgment of the Court (Grand Chamber) 18 June 2024 Judgment · Grade B
In the present case, by its Decision 2017/1246, the Commission endorsed the resolution scheme at issue. As it expressly stressed in recital 4 of that decision, by endorsing that scheme, the Commission expressed its agreement with the content thereof and with the reasons provided by the SRB of why resolution is necessary in the public interest. In that regard, as the Commission noted at the hearing, the discretionary aspects of a resolution scheme, which relate both to the establishment of the resolution conditions and to the determination of the resolution tools, are inextricably linked to the
- Judgment of the Court (Grand Chamber) 18 June 2024 Judgment · Grade B
A Commission endorsement decision such as Decision 2017/1246 displays, for its part, the features of an act against which an action for annulment may be brought under the fourth paragraph of Article 263 TFEU. In an action for annulment brought against such a decision, it is open to the natural or legal persons concerned to plead the illegality of the resolution scheme approved by that institution, thereby giving it binding legal effect, which is capable of guaranteeing them sufficient judicial protection (see, to that effect, judgment of 13 October 2011, Deutsche Post and Germany v Commission,
- Judgment of the Court (First Chamber) 4 September 2025 Judgment · Grade B
On the same day, the European Commission adopted Decision (EU) 2017/1246 endorsing the resolution scheme for Banco Popular Español S.A. (OJ 2017 L 178, p. 15).
- Action brought on 17 August 2017 — Algebris (UK) and Others v SRB (Case T-575/17) Notice · Grade B
In this connection it is argued that, before adopting its Decision (EU) 2017/1246 endorsing the Resolution Scheme, the European Commission failed to assess properly, or at all, the discretionary aspects of the Resolution Scheme. This constituted a breach of the Commission’s obligations under Regulation (EU) No 806/2014 and of the principles of the Meroni case-law of the Court of Justice. Accordingly, the SRB committed a manifest error of assessment and law by concluding that its decision adopting the Resolution Scheme could, or had, come into force; further, or alternatively, and in any event,
- Judgment of the Court (First Chamber) 5 September 2024 Judgment · Grade B
By Decision SRB/EES/2017/08 of 7 June 2017, the Single Resolution Board adopted the resolution scheme in respect of Banco Popular, endorsed by the European Commission in its Decision (EU) 2017/1246 (OJ 2017 L 178, p. 15).
- Action brought on 21 September 2017 — Madrid Diario de la Noche and Others v Commission and SRB (Case T-639/17) Notice · Grade B
Annul Decision SRB/EES/2017/08 of SRB and Commission Decision (EU) 2017/1246, both adopted on 7 June 2017 and, consequently, order SRB and the European Commission to refund to the applicants their investments in Banco Popular or, in the alternative, order SRB and the Commission to pay damages to the applicants on grounds of non-contractual liability;
- Judgment of the General Court (Third Chamber, Extended Composition) 22 November 2023 Judgment · Grade B
On 7 June 2017, the European Commission adopted Decision (EU) 2017/1246 endorsing the resolution scheme for Banco Popular (OJ 2017 L 178, p. 15).
- Action brought on 4 August 2017 — Estévez Puerto and Others v Commission and SRB (Case T-504/17) Notice · Grade B
Commission Decision (EU) 2017/1246 of 7 June 2017 endorsing the resolution scheme for Banco Popular Español, S.A.
- Order of the General Court of 21 July 2025 – Remolcadores Nosa Terra and Others v Commission and SRB (Case T-600/17) Notice · Grade B
Action for annulmentEconomic and monetary policySingle resolution mechanism for credit institutions and certain investment firmsResolution scheme in respect of Banco Popular EspañolManifest lack of jurisdiction in partAction manifestly lacking any foundation in lawC/2025/5337Language of the case: Spanish Applicants: Remolcadores Nosa Terra, SA (Vigo, Spain), Grupo Nosa Terra 2000, SLU (Vigo), Hospital Povisa, SA (Vigo), Industrias Lácteas Asturianas, SA (Madrid, Spain) (represented by: J. Otero Novas, lawyer) Defendants: European Commission (represented by: P. Němečková, A. Steiblytė and A. Ma
- Appeal brought on 9 August 2022 by Aeris Invest Sàrl against the judgment of the General Court (Third Chamber, Extended Composition) delivered on 1 June 2022 in Case T-628/17 Aeris Invest/Comisión v JUR (Case C-535/22 P) Notice · Grade B
annul Commission Decision (EU) 2017/1246 of 7 June 2017 endorsing the resolution scheme for Banco Popular Español S.A;
- Judgment of the General Court of 1 June 2022 — Del Valle Ruíz and Others v Commission and SRB (Case T-510/17) Notice · Grade B
Economic and monetary unionBanking UnionSingle Resolution Mechanism for credit institutions and certain investment firms (SRM)Resolution procedure applicable where an entity is failing or is likely to failAdoption by the SRB of a resolution scheme in respect of Banco Popular EspañolRight to be heardDelegation of powerRight to propertyObligation to state reasonsArticles 18 and 20 and Article 21(1) of Regulation (EU) No 806/20142022/C 284/25Language of the case: English Applicants: Antonio Del Valle Ruíz (Mexico, Mexico) and 41 other applicants whose names are listed in the annex to the judgment
- Action brought on 7 August 2017 — Eleveté Invest Group and Others v Commission and SRB (Case T-523/17) Notice · Grade B
Annul Decision SRB/EES/2017/08 of the Single Resolution Board (SRB) and Commission Decision (EU) 2017/1246, both adopted on 7 June 2017;