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ECB should not have imposed absorption interests on Sberbank, EU General Court rules

( February 28, 2024, 12:51 GMT | Official Statement) -- MLex Summary: Today, the EU’s General Court made a ruling on two cases involving a fine imposed by the European Central Bank on Sberbank Europe. The fine was issued because Sberbank Europe exceeded its limits on large exposure. It originally amounted to 630,000 euros, but the ECB added the absorption interests, which amounted to more than 2 million euros. The General Court judged that this move exceeded the powers given to the ECB to decide the amount of the fine.The judgment is attached. Case references are T-647/21 and T-99/2....

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