Goldman Sachs 2013 Annual Report Download - page 164

Notes to Consolidated Financial Statements
Offsetting Arrangements
The tables below present the gross and net resale and
repurchase agreements and securities borrowed and loaned
transactions, and the related amount of netting with the
same counterparty under enforceable netting agreements
(i.e., counterparty netting) included in the consolidated
statements of financial condition. Substantially all of the
gross carrying values of these arrangements are subject to
enforceable netting agreements. The tables below also
present the amounts not offset in the consolidated
statements of financial condition including counterparty
netting that does not meet the criteria for netting under U.S.
GAAP and the fair value of cash or securities collateral
received or posted subject to enforceable credit support
agreements. Where the firm has received or posted
collateral under credit support agreements, but has not yet
determined such agreements are enforceable, the related
collateral has not been netted in the table below.
As of December 2013
Assets Liabilities
in millions
Securities
purchased
under
agreements
to resell
Securities
borrowed
Securities
sold under
agreements to
repurchase
Securities
loaned
Amounts included in the consolidated
statements of financial condition
Gross carrying value $ 190,536 $ 172,283 $ 183,913 $ 23,700
Counterparty netting (19,131) (4,955) (19,131) (4,955)
Total 171,405 1167,328 1164,782 18,745
Amounts that have not been offset in the
consolidated statements of financial condition
Counterparty netting (10,725) (2,224) (10,725) (2,224)
Collateral (152,914) (147,223) (141,300) (16,278)
Total $ 7,766 $ 17,881 $ 12,757 $ 243
As of December 2012
Assets Liabilities
in millions
Securities
purchased
under
agreements
to resell Securities borrowed
Securities
sold under
agreements to
repurchase Securities loaned
Amounts included in the consolidated
statements of financial condition
Gross carrying value $ 175,656 $ 151,162 $ 201,688 $ 23,509
Counterparty netting (29,766) (9,744) (29,766) (9,744)
Total 145,890 1,2 141,418 1171,922 213,765
Amounts that have not been offset in the
consolidated statements of financial condition
Counterparty netting (27,512) (2,583) (27,512) (2,583)
Collateral (104,344) (117,552) (106,638) (10,990)
Total $ 14,034 $ 21,283 $ 37,772 $ 192
1. As of December 2013 and December 2012, the firm had $9.67 billion and $4.41 billion, respectively, of securities received under resale agreements and $2.77 billion
and $4.53 billion, respectively, of securities borrowed transactions that were segregated to satisfy certain regulatory requirements. These securities are included in
“Cash and securities segregated for regulatory and other purposes.”
2. As of December 2012, the firm classified $148 million of resale agreements and $115 million of repurchase agreements related to the firm’s Americas reinsurance
business as held for sale. See Note 3 for further information about this sale.
162 Goldman Sachs 2013 Annual Report