This report constitutes the comprehensive disclosure on risks and capital as well as risk management and capital management. In a summarised form, the main disclosure on exposures as well as on risk, liquidity and capital management are also presented in SNS REAAL's annual report . In the capital adequacy and risk management report for 2008, SNS Bank increases the transparency on relevant risk factors inherent in the operations, how these are managed and mitigated and the effect on the capital adequacy for SNS Bank. The report has been developed with the ambition to meet the pillar 3 requirements as well as to meet the increased need of transparency in the financial market . The enhanced disclosure is developed to be aligned with the recommendations issued in 2008 by the Financial Stability Forum, Committee of European Bank Supervisors (CEBS) and European Banking Federation (EBF).