Prospectus - Notowania

withdrew UOKiK’s sentence. The latter then filed a counter-appeal against the
Antitrust Court’s decision, the proceedings for which are still pending as at the Date of
the Prospectus.
• an investigation undertaken by the UOKiK related to compliance with the use of
models of loan contracts stipulated by Bank Pekao. The investigation is still pending;
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BA is subject to regulation provided by the Austrian Consolidated Banking Act
(Bankwesengesetz) as well as the oversight of Austrian Supervisory Authorities for financial
markets (“FMA”) and the Austrian Central Bank (Oesterreichische Nationalbank – “OeNB”).
In reference to the use of internal models to calculate the values of exposure in some
transactions as well as the minimum capital requirements applicable to the trading portfolio,
FMA and OeNB formulated some comments related to the efficacy of internal process for
managing counterparty and market risk.
As regards market risk, OeNB and FMA carried out a review of UniCredit CAIB AG, focusing
on the validity of market data, the adequacy of valuation models and restrictions and market
risk. UniCredit CAIB AG’s internal model was approved by FMA on October 8, 2008;
nevertheless, FMA made comments regarding the necessary procedures for data processing
and monitoring and the definition of models for risk exposure and requested that certain
measures in the comments be adopted.
As at the Date of the Prospectus, BA is already adopting the necessary measures to remedy the
comments.
OeNB and FMA carried out a review of the liquidity risk management of BA from February to
May 2009 as part of the joint review process of the regulatory authorities regarding the
UniCredit Group. The report issued with reference to the UniCredit Group (including BA)
showed some insufficiencies in liquidity risk management procedures and policies.
20.11. Significant changes in the Issuer’s financial or business situation
With the exception of the information in the First Section, Chapter 9, there were no significant
changes in the Issuer’s financial or business situation as at the Date of the Prospectus.
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