ANNUAL REPORT 2006 - DG Hyp

REPORT OF THE SUPERVISORY BOARD
In the 2006 financial year, the Supervisory Board and its committees monitored the Management
Board’s management of the bank according to statutory regulations and those set out in
the bank’s articles of association, and also took decisions on those transactions required to be
presented to the Supervisory Board.
In fulfilling its tasks, and in accordance with statutory requirements, the Supervisory Board
formed a Human Resources Committee, an Audit Committee and a Risk and Participations
Committee. These Committees convened several times in 2006.
The Management Board reported to the Supervisory Board on the bank’s situation and growth
and on general business regularly, in good time and comprehensively, both in writing and in
verbal reports. In addition, the Management Board reported regularly to the Supervisory Board
on ongoing business and future business policy including the bank’s strategic and organisational
orientation.
The Supervisory Board also dealt with the bank's risk situation, as well as the further development
of systems and methods to control market, counterparty and operating risks as well as
additional key typical banking risks.
The Supervisory Board convened four times last year. In these meetings, the Supervisory Board
received reports on the current situation of DG HYP via scheduled reports, and on work
in the Committees in two of these meetings. In its constituting meeting on 8 March 2006, the
Supervisory Board appointed Mr. Wolfgang Kirsch as its Chairman with immediate effect. In its
ordinary meeting on 16 November 2006, the Supervisory Board appointed Mr. Hans-Theo Macke
as Chairman of the Management Board (Vorsitzender des Vorstands); previously, Mr. Macke had
chaired the Management Board in the capacity of its speaker (Sprecher des Vorstands).
Between meetings of the Supervisory Board, the Management Board informed it in writing
of key transactions. In urgent cases, the Supervisory Board approved key transactions between its
meetings by passing written resolutions.
88 Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2006