BBVA continues to use a model in which the business units undertake monitoring and control, while the Central Risk Unit standardizes policies, processes, tools and calculations to provide an overall view alongside the Group’s other risks.
The most significant risks appearing throughout 2009 are:
- Lack of liquidity in certain assets in some markets.
- Management of the relative risk of return in portfolios under management.
- Presence of more complex assets in portfolios.
- Regulatory changes in some markets (biometric hypotheses, management of invalidity insurance, etc.).
- Loss of value through impairment losses in real estate activities.
The New Products Committee, which operates in each country at the company level, has been of key importance in complying with the objective of only accepting risks that can be identified, measured, valued and, of course, managed, both for the Group’s own portfolios and those belonging to third parties.