Convenience translation into english

IV. MARKET RISK
The Bank considers currency risk and interest rate risk as the most important components of market risk. The ERC sets critical risk limits for market risk and through close monitoring of the markets and overall economy, such limits are updated as necessary. These limits and implementation of strategies are assigned to various levels of management in order to enhance control effectiveness. The Bank’s market risk position is calculated and reported to the ERC members daily and weekly. The table below shows how the market risk as of 31 March 2004 is calculated in accordance with the Regulation related to the Measurement and Evaluation of the Bank’s Capital Adequacy, published in the Official Gazette dated 31 January 2002, No. 24567 and the Regulation related to the Market Risk Calculation by the Standard Method.

	Balance
Capital to be employed for interest rate risk – standard method	111,247
Capital to be employed for general market risk	111,142
Capital to be employed for specific risk	105
Capital to be employed for options subject to interest rate risk	-
Capital to be employed for common stock position risk - standard method	-
Capital to be employed for general market risk	-
Capital to be employed for specific risk	-
Capital to be employed for options subject to common stock position risk	-
Capital to be employed for currency risk - standard method	31,160
Capital liability	31,160
Capital to be employed for options subject to currency risk	-
Total Value-at-risk (VAR)-Internal Model	-
Total capital to be employed for market risk