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  1. Download the annual report of Commerzbank 2021 and summarise in two pages the bank data about impairment of financial instruments. Detail your report with supporting data.
  2. Suppose you manage a 50M equity portfolio consisting of four equi-weighted stocks: TotalEnergies, Orange, Legrand and Bouygues. You want to hedge against market risk using the relevant futures contract with shortest expiration. Detail the hedge trade to apply, contract name and details, trade details (size, long or short).
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