Goldman Sachs 2013 Annual Report Download - page 166

Notes to Consolidated Financial Statements
The table below presents other secured financings
by maturity.
in millions
As of
December 2013
Other secured financings (short-term) $17,290
Other secured financings (long-term):
2015 3,896
2016 1,951
2017 162
2018 781
2019-thereafter 734
Total other secured financings (long-term) 7,524
Total other secured financings $24,814
Collateral Received and Pledged
The firm receives cash and securities (e.g., U.S. government
and federal agency, other sovereign and corporate
obligations, as well as equities and convertible debentures)
as collateral, primarily in connection with resale
agreements, securities borrowed, derivative transactions
and customer margin loans. The firm obtains cash and
securities as collateral on an upfront or contingent basis for
derivative instruments and collateralized agreements to
reduce its credit exposure to individual counterparties.
In many cases, the firm is permitted to deliver or repledge
financial instruments received as collateral when entering
into repurchase agreements and securities lending
agreements, primarily in connection with secured client
financing activities. The firm is also permitted to deliver or
repledge these financial instruments in connection with
other secured financings, collateralizing derivative
transactions and meeting firm or customer
settlement requirements.
The firm also pledges certain financial instruments owned,
at fair value in connection with repurchase agreements,
securities lending agreements and other secured financings,
and other assets (primarily real estate and cash) in
connection with other secured financings to counterparties
who may or may not have the right to deliver or
repledge them.
The table below presents financial instruments at fair value
received as collateral that were available to be delivered or
repledged and were delivered or repledged by the firm.
As of December
in millions 2013 2012
Collateral available to be delivered or repledged $608,390 $540,949
Collateral that was delivered or repledged 450,127 397,652
The table below presents information about assets pledged.
As of December
in millions 2013 2012
Financial instruments owned, at fair value
pledged to counterparties that:
Had the right to deliver or repledge $ 62,348 $ 67,177
Did not have the right to deliver or repledge 84,799 120,980
Other assets pledged to counterparties that:
Did not have the right to deliver or repledge 769 2,031
164 Goldman Sachs 2013 Annual Report