1.A Bank must comply with the disclosure requirements. A bank must have a board-approved disclosure policy. A bank must describe in its disclosures its risk management objectives and policies including the following items:
a.Strategies and processes (for each material risk);
b.Structure and organization of its risk governance;
c.Scope and nature of risk reporting and/or measurement systems;
d.Policies for hedging and/or mitigating risk; and
e.Strategies and processes for monitoring the continuing effectiveness of hedges/mitigants.