Goldman Sachs 2012 Annual Report Download - page 229

Supplemental Financial Information
Cross-border Outstandings
Cross-border outstandings are based on the Federal
Financial Institutions Examination Council’s (FFIEC)
regulatory guidelines for reporting cross-border
information and represent the amounts that the firm may
not be able to obtain from a foreign country due to
country-specific events, including unfavorable economic
and political conditions, economic and social instability,
and changes in government policies.
Credit exposure represents the potential for loss due to the
default or deterioration in credit quality of a counterparty
or an issuer of securities or other instruments the firm holds
and is measured based on the potential loss in an event of
non-payment by a counterparty. Credit exposure is reduced
through the effect of risk mitigants, such as netting
agreements with counterparties that permit the firm to
offset receivables and payables with such counterparties or
obtaining collateral from counterparties. The tables below
do not include all the effects of such risk mitigants and do
not represent the firm’s credit exposure.
Claims in the tables below include cash, receivables,
securities purchased under agreements to resell, securities
borrowed and cash financial instruments, but exclude
derivative instruments and commitments. Securities
purchased under agreements to resell and securities
borrowed are presented gross, without reduction for related
securities collateral held, based on the domicile of the
counterparty. Margin loans (included in receivables) are
presented based on the amount of collateral advanced by
the counterparty.
The tables below present cross-border outstandings for
each country in which cross-border outstandings exceed
0.75% of consolidated assets in accordance with the
FFIEC guidelines.
As of December 2012
in millions Banks Governments Other Total
Country
Cayman Islands $ — $ — $39,283 $39,283
France 24,333 12,370 5,819 32,522
Japan 16,679 19 8,908 25,606
Germany 4,012 10,976 7,912 22,900
Spain 3,790 4,237 1,816 9,843
Ireland 438 68 7,057 7,563 2
United Kingdom 1,422 237 5,874 7,533
China 2,564 1,265 3,564 7,393
Brazil 1,383 3,704 2,280 7,367
Switzerland 3,706 230 3,133 7,069
As of December 2011
in millions Banks Governments Other Total
Country
France $33,916 1$ 2,859 $ 3,776 $40,551
Cayman Islands — — 33,742 33,742
Japan 18,745 31 6,457 25,233
Germany 5,458 16,089 3,162 24,709
United Kingdom 2,111 3,349 5,243 10,703
Italy 6,143 3,054 841 10,038 3
Ireland 1,148 63 8,801 210,012
China 6,722 38 2,908 9,668
Switzerland 3,836 40 5,112 8,988
Canada 676 1,019 6,841 8,536
Australia 1,597 470 5,209 7,276
1. Primarily comprised of secured lending transactions with a clearing house which are secured by collateral.
2. Primarily comprised of interests in and receivables from funds domiciled in Ireland, but whose underlying investments are primarily located outside of Ireland, and
secured lending transactions.
3. Primarily comprised of secured lending transactions which are primarily secured by German government obligations.
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