36.1. Hedging guidelines and financial risk management principles

The principles and responsibilities for managing and controlling the risks that could arise from financial instruments are defined by the Board of Management and monitored by the Supervisory Board. General rules apply to the Group-wide risk policy; these are oriented on the statutory requirements and the “Minimum Requirements for Risk Management by Credit Institutions”.

Group Treasury is responsible for operational risk management and the control of risks from financial instruments. The Group Board of Management Committee for Risk Management is regularly informed about current financial risks. In addition, the Group Board of Management and the Supervisory Board are regularly updated on the current risk situation. Some functions of the MAN Energy Solutions, Porsche Holding Salzburg and TRATON GROUP subgroups and of the Financial Services Division are included in Group Treasury’s operational risk management and control for risks relating to financial instruments and have their own risk management structures.

For more information, see the section on financial risks in the Report on Risks and Opportunities of the group management report.