price risk

Taking into consideration other price risks, at the end of the year 2011, the Bank was exposed to price risk of investment fund participation units in collective investment funds.

This risk is immaterial – a capital requirement, pursuant to the Resolution No. 76/2010 of the Polish Financial Supervision Authority (with subsequent amendments) , to cover the above mentioned risk was at the end of the year 2011 lower than PLN 1 million.

* Amendments to the Resolution No. 76/2010 were introduced by the following PFSA resolutions: Resolution No. 369/2010 dated 12 October 2010, PFSA Resolution No. 153/2011 dated 7 June 2011, PFSA Resolution No. 206/2011 dated 22 August 2011 and PFSA Resolution No. 324/2011 dated 20 December 2011.