Paragraph 11 Financial risk management objectives and policiesF1

The directors' report shall contain, in relation to the use of financial instruments by the society and by any subsidiary undertaking, and where material for the assessment of the society’s or (as the case may be) group’s assets, liabilities, financial position and profit or loss—

(a)

the financial risk management objectives and policies of the society or (where applicable) the group, including the policy for hedging each major type of forecasted transaction for which hedge accounting is used, and

(b)

the exposure of the society or (where applicable) of the group to price risk, credit risk, liquidity risk and cash flow risk.

Annotations

Textual amendments

F1: Sch. 8 para. 11 inserted (31.12.2004 with application in accordance with reg. 1(2) of the amending S.I.) by The Building Societies (Accounts and Related Provisions) (Amendment) Regulations 2004 (S.I. 2004/3199), regs. 1(1), 10