Besides the credit rating, the limit system also takes
into account fundamental counterparty data, as well as sector
and maturity allocations and further qualitative and quantitative
criteria such as credit risk indicators. The credit exposure of the
Company is reviewed on a regular basis and the respective limits
are regularly monitored and updated. The Company also seeks to
maintain a certain level of diversification in its portfolio between
individual counterparties as well as between financial institutions,
corporates and sovereigns in order to avoid an increased
concentration of credit risk on only a few counterparties.