Gazprombank (Switzerland) Ltd market risk positions are limited and mainly relate to exchange rates and interest rate risks. Risk Management is responsible for day-to-day control of market risk and implementation of the Bank’s risk management systems. Risk Management is producing and analyzing daily reports on the risk limits and exposures. Risk Management is independent from trading business units and it conducts an on-going updating and validation of the internal risk management systems. The Bank’s risk management systems are documented and manuals describe the techniques used to measure market risk. Market risk positions are reported to the Executive Management Board and the Board of Directors on a regular basis.