Market risk

The Group takes on exposure to market risks. Market risks arise through its securities portfolio and from open positions in interest rate, currency and equity products, all of which are exposed to general and specific market movements. The ALCO sets VTB's policies for market risks, with the aim of limiting and reducing the amount of possible losses on open market positions which may be incurred by VTB due to negative changes in currency exchange rates and securities quotations. VTB Risk Department monitors compliance with market risk limits on a daily basis.