GENERAL MEETING DRAFT - Bankier.pl

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Following the above-mentioned first amendment to Banca d’Italia Circular 262/2005 the disclosure on
derivative instruments presented in Part E – Risks and related risk management policies was reorganized
in order to align it to the FINREP regulatory reporting framework under IAS/IFRS.
Part E - Risks ad related risk management policies only.refers to the banking group.
Since insurance companies and other companies don’t represent a significant business - if compared to
bankig group - there is no specific section of this document on their risks and related risk management
policies.
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UniCredit Group monitors and manages its risks through rigorous methodologies and procedures proving
to be effective through all phases of the economic cycle. The control and steering of the Group risks are
exerted by the Holding Company Risk Management function (Group CRO), to which have been assigned
the following tasks:
� optimizing asset quality of the Group and minimizing the cost of the relevant risks, in line with the
risk / return targets assigned to each business area;
� determining, in concert with the CFO, the Group’s risk appetite and evaluating its capital
adequacy, and cascading it to the Business Areas / Legal Entities, consistently with Basel II Pillar
II requirements;
� defining - in compliance with Basel II standards and Bank of Italy requirements – the Group rules,
methodologies, guidelines, policies and strategies for risk management, and, in cooperation with
the Organisation department, the relevant processes and their implementation;
� setting up a credit and concentration risk control system both of single counterpart / economic
groups and significant clusters (e.g. as geographical areas / economic sectors), monitoring and
reporting the previously established limits;
� defining and providing to the Business Areas and to the Legal Entities the valuation, managerial,
measuring, monitoring and reporting criteria of the risks and ensuring the consistency of systems
and control procedures both at Group and Legal Entity level;
� supporting the Business Areas to achieve their targets, contributing to products and to business
development;
� verifying, by means of the initial and ongoing validation process, the adequacy of the risk
measurement systems adopted throughout the Group, steering the methodological choices
towards higher and homogeneous qualitative standards and controlling the coherence of the
usage of the above systems within the processes;
� setting up an adequate system of preventive risk analysis, in order to quantify the impacts of a
quick worsening of the economic cycle or of other shock factors (i.e. Stress Test) on the Group’s
economic - financial structure. This holds for single risk types as well as their integration and
comparison to available capital;
� creating a risk culture across the whole Group.
Credit market turmoil has affected the global banking system since the second half of 2007, contributing
to a sharp slowing of the world economy. This macroeconomic scenario has entailed an increase in the
cost of credit risk, a decrease in asset values, as well as higher costs deriving from write-downs and
depreciation of some assets combined with a decrease in profitability. Although the Group has an
adequate level of portfolio diversification, it is nevertheless exposed to risks if loan counterparties become
insolvent or are unable to meet their obligations. Difficulties could arise in the recovery process of asset
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