GENERAL MEETING DRAFT - Bankier.pl

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Generally speaking, banks’ market risks are due to price fluctuations or other market risk factors affecting
the value of positions on its own books, both the trading book and the banking book, i.e. those arising
from business operations and strategic investment decisions. UniCredit Group’s market risk management
includes, therefore, all activities relating to cash and capital structure management, both in the Parent
and in the individual Group companies.
The Parent monitors risk positions at the Group level. The individual Group companies monitor their own
risk positions, within the scope of their specific responsibilities, in line with UniCredit Group supervision
policies. The results of individual companies’ monitoring activities are, in any event, shared with the
Parent company.
The individual companies comprising the Group produce detailed reports on business trends and related
risks on a daily basis, forwarding market risk documentation to the Parent company.
The Parent’s Group Market Risk unit is responsible for aggregating this information and producing
information on overall market risks.
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The Parent’s Board of Directors lays down strategic guidelines for taking on market risks by calculating
capital allocation for the Parent company and its subsidiaries, depending on propensity for risk and value
creation objectives in proportion to risks assumed.
The Parent’s Risks Committee provides advice and recommendations in respect of decisions taken by
the Chief Executive Officer and in drawing up proposals made by the Chief Executive Officer to the
Board of Directors with regard to the following:
� the Group’s risk appetite, including capitalization objectives, capital allocation criteria, risk-taking
capacity, cost of equity and dividends policy, as well as internal capital limits;
� general strategies for the optimization of risks, general guidelines and general policies for Group
risk management
� internal models for measuring all types of risks to calculate regulatory capital
� structure of limits by type of risk
� strategic policies and funding plans.
Similarly, it decides on the following:
� the definition of guidelines relative to Group financial policies (asset and liability management
strategies, including the Group-wide duration profile)
� the allocation of risk to the Business Units and to the Entities, specific risk-related guidelines and
strategies and consequently setting of limits for achieving objectives in terms of risk appetite and
limits by type of risk
� methods for the measurement and control of the Group’s aggregate risks (deriving from the
aggregation of individual types of risk)
� guidelines, policies and strategies for real estate risk, financial investment risk and business risk
� intervention plans in the event of critical aspects shown in the initial validation reports and over
time;
� topics involving the implementation of Basel 2 standards, as well as the respective project and
process activities
2009 CONSOLIDATED REPORTS AND ACCOUNTS
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