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The three key indicators used for managing the interest rate risk are the Basis Point Value, the Equity at Riskand the Income at Risk.The Basis Point Value (“BPV”) is the absolute loss of market value of equity after a parallel increase of theyield curve with 1 basis point. In 2008, the BPV did not exceed € 25 million.Long-term interest rate risk is measured and managed using the Equity at Risk concept. Equity at Risk is thesensitivity of Rabobank Group equity’s market value to interest rate fluctuations. A 200 basis point overnightparallel shock of the curve will result in an 11 per cent. drop in market value of equity.Short-term interest rate risk is monitored using the Income at Risk concept. This is the maximum amount ofinterest income that is put at risk on an annual basis, based on certain interest rate scenarios. If interest rateswere to gradually decrease with a maximum of 200 basis points over a one-year period, the interest incomewould decrease by € 54 million.Risk elements*Cross-border outstandingsCross-border outstandings are defined as loans (including accrued interest), acceptances, interest-earningdeposits with other banks, other interest-earning investments and any other monetary assets which aredenominated in a currency other than the functional currency of the office or subsidiary where the extension ofcredit is booked. To the extent that the material local currency outstandings are not hedged or are not fundedby local currency borrowings, such amounts are included in cross-border outstandings.At 31 December 2008, there were no cross-border outstandings exceeding 1 per cent. of total assets in anycountry where current conditions give rise to liquidity problems which are expected to have a material impacton the timely repayment of interest or principal.The following table analyses cross-border outstandings as at the end of each of the last three years, stating thename of the country and the aggregate amount of cross-border outstandings in each foreign country wheresuch outstandings exceeded 1 per cent. of total assets, by type of borrower:Public(in millions of euro)Banks authorities Private sector TotalAt 31 December 2008France ......................................................... 2,856 1,595 4,500 8,951Germany ..................................................... 4,624 3,919 6,825 15,368Ireland ........................................................ 925 561 9,273 10,759United Kingdom ......................................... 11,857 2,566 9,276 23,699Poland ......................................................... 161 1,438 5,048 6,647United States .............................................. 5,796 8,225 51,169 65,190Japan ........................................................... 914 6,664 205 7,783Australia ..................................................... 1,427 1,164 9,360 11,951At 31 December 2007France ......................................................... 2,382 1,402 3,437 7,221Belgium ...................................................... 2,766 1,005 2,311 6,082Germany ..................................................... 5,640 3,428 6,579 15,647Ireland ........................................................ 1,797 413 10,205 12,415278