The result of this phase of the evaluation portfolio is to determine how managed to reduce the level of portfolio risk relative to market average to the level prevailing at a given level of return on the investment portfolio. In the operation of the domestic securities market, this evaluation should be supplemented by an indicator of liquidity generated portfolio. Stage 5 - Final optimization of the portfolio by the criteria of profitability and liquidity risk. The securities portfolio, which fully meets the objectives of its formation as to the type and composition of the included instruments, is a balanced investment portfolio. Category: Management Operations Commercial Bank