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Risk management

The Intesa Sanpaolo Group attaches great importance to risk management and control as conditional to ensuring reliable and sustainable value creation in a context of controlled risk, protecting the Group's financial solidity and reputation, and permitting a transparent representation of the risk profile of its portfolios.

RELEVANT CORPORATE STRUCTURES

The policies relating to the acceptance of risks are defined by the Board of Directors of the Parent Company, with support from specific Committees, among which the  Management Control Committee and the Risks Committee as well as the action of the Chief Risk Officer who reports directly to the Chief Executive Officer.

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MAIN RISKS

The Group is subject to risks that are an inherent part of its business activity. These risks include: credit risk, market risk, foreign exchange risk, liquidity risk, operational risk, risks specific to insurance business, strategic risk and reputational risk.

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INFORMATION RELATING TO EXPOSURE TO RISKS

In the framework of the adoption of "Basel 2" by the Italian banking system, the Bank of Italy, with Circular No. 263 of 27 December 2006 "New prudential regulatory provisions for banks" defined the ways whereby domestic banks or banking groups have to disclose information relating to capital adequacy, exposure to risks as well as the general features of the systems for identification, measurement and management of those risks (so-called Third pillar of Basel 2 - "Pillar 3"). 
As of 1 January 2014, in the framework of the adoption of "Basel 3", the Bank of Italy, with Circular No. 285 of 17 December 2013 "Supervisory provisions for banks", revised the ways whereby domestic banks and banking groups have to disclose the aforementioned information (so-called Third pillar of Basel 3 - "Pillar 3").

- Third pillar of Basel 2 and Basel 3 ("Pillar 3")
- Information on risks and relative hedging policies
- Information on capital


In the framework of the adoption of "Basel 3", in its Communication of 17 February 2014 "Obligations of disclosure for the global systemically important banks", the Bank of Italy provides that Italian banks with a leverage ratio exposure measure exceeding 200 billion euro - like the Intesa Sanpaolo Group - make publicly available the information concerning the 12 indicators used in the assessment methodology on their website. In compliance with the recommendation of the Financial Stability Board, the Basel Committee on Banking Supervision developed the assessment methodology to identify the Global Systemically Important Banks ("G-SIBs") that will be subject to higher loss absorbency requirements from 1 January 2016.

- Assessment methodology indicators to identify the global systemically important banks ("G-SIBs")


By its Circular no. 285, the Bank of Italy introduced into the Italian regulations the provisions included in art. 89 of Directive 2013/36/EU (CRD IV) which require specific disclosure obligations broken down on a country-by-country basis. Institutions are required to disclose, annually, specifying, by each country where they have an establishment, a set of information to be prepared on the same basis, and with the same criteria, as those adopted when preparing the financial statements.

- Country-by-Country Reporting

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