Prospectus - Notowania

countries), with reference to the management of balance sheet, liquidity and market risks
(including, for example, securitisations, interest rate and exchange rate derivatives, etc.).
• “Asset Management Risks”, responsible for supervising risk management activities within
the perimeter of “asset management”, from an operational point of view, ensuring
consistency with the strategies, limits and guidelines defined by the relative “risk portfolio
managers”.
• “CEE Risk”, responsible for supervising risk management activities performed within CEE
countries, from an operational point of view, ensuring consistency with the strategies,
limits and guidelines defined by the relative risk portfolio managers, developing, if and
when necessary, specific guidelines, policies or strategies.
• “Special Credit”, responsible for coordinating, directing, supporting and in relation to
certain selected dossiers, managing restructuring and recovery activities performed within
the Parent company domain and/or by Group companies.
6.11. Description of risks
Within the context of its activities, the UniCredit Group assumes various types of risk
schematically ascribable to the following: credit risk; market risk, operational risk, business
risk, real estate risk; financial investment risk; strategic risk; reputational risk. Said types of
risk, managed and monitored through Group policies and procedures, are attributable both to
the banking book and the supervisory trading book, and are subject to constant monitoring at
various levels of control.
6.11.1. Credit risk
Relations between UniCredit and Group companies that exercise credit activities are
regulated by specific governance documents which guarantee UniCredit a role of
management, support and control of its subsidiaries.
In particular, in compliance with the role attributed by corporate governance to
UniCredit’s CRO function, the “General Group Credit Policies” were issued, general
provisions relating to the execution of credit activities at Group level, which lay out
the rules and principles that must direct, discipline and standardise the evaluation and
management of credit risk, in line with UniCredit Group principles and best practice.
As part of the monitoring duties of credit risk, the UniCredit CRO function has been
assigned the job of management and measurement of this risk, through the creation
and use of the appropriate methodologies. Said task also involves the constant
updating of the methodologies developed, ensuring, in collaboration with the
Organisation department, responsible for the relevant processes, the implementation of
these in compliance with “Basel 2” standards and in compliance with the requirements
indicated by the Bank of Italy.
With regards to the application of Basel 2 regulations, UniCredit obtained
authorisation from the Bank of Italy to adopt advanced methods for calculation of the
capital requirements necessary to cope with credit risk. In this first phase, said
methodologies were adopted by UniCredit, some Italian subsidiaries, and by HVB and
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