Note 22

22. MANAGEMENT OF FINANCIAL RISKS
                   
The operative management of the treasury activities of Tieto is centralized into Group Treasury, which is operated from Parent company. The Group Treasury is responsible for managing the Group’s financial risk position and maintaining adequate liquidity. The Treasury Policy, which has been approved by the board of directors, defines the principles for measuring and managing liquidity risk, interest rate risk, foreign exchange risks and counterparty risk of the Group. The Treasury Policy also defines the division of responsibilities with regard to financial risk management. The Group reviews and monitors financial risks on a regular basis.
                   
Financal risks are assessed, measured and managed on a Group level. See Note 24 in Notes to the consolidated financial statements.