To ensure coherence between the Group’s strategic considerations regarding risk-taking and day-to-day decisions on transactions with customers, the Group has decided to introduce risk appetite as a strategic tool. Risk appetite basically expresses the maximum risk that the Group is willing to assume to meet business targets. The Group’s risk appetite is set in a process based on a thorough analysis of its current risk profile. Against this background, the Group identifies a number of key risk components. For each of these components, the Group determines a target that represents the Group’s perception of the component in question. These are the key risk components: Financial strength External ratings Earnings robustness Core markets Credit risk Concentration risk Insurance risk Market risk Liquidity risk Pension risk Operational risk Compliance The implementation of risk appetite as a strategic management tool will take place in several stages. At the end of 2007, the Group adopted a risk appetite level that will initially be used for follow-up vis-à-vis the business areas.