Goldman Sachs 2015 Annual Report Download - page 225

THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES
Supplemental Financial Information
Deposits
The table below presents a summary of the firm’s interest-
bearing deposits.
Year Ended December
$ in millions 2015 2014 2013
Average balances
U.S.
Savings $44,486 $ 41,785 $ 39,411
Time 28,577 20,810 21,288
Total U.S. 73,063 62,595 60,699
Non-U.S.
Demand 5,703 4,571 4,613
Time 8,182 5,998 4,270
Total Non-U.S. 13,885 10,569 8,883
Total $86,948 $ 73,164 $ 69,582
Average interest rates
U.S.
Savings 0.27% 0.23% 0.30%
Time 0.83% 0.91% 1.09%
Total U.S. 0.48% 0.46% 0.58%
Non-U.S.
Demand 0.19% 0.18% 0.22%
Time 0.53% 0.65% 0.59%
Total Non-U.S. 0.39% 0.44% 0.39%
Total 0.47% 0.46% 0.56%
Short-Term and Other Borrowed Funds
The table below presents a summary of the firm’s securities
loaned and securities sold under agreements to repurchase,
and short-term borrowings. These borrowings generally
mature within one year of the financial statement date and
include borrowings that are redeemable at the option of the
holder within one year of the financial statement date.
As of December
$ in millions 2015 2014 2013
Securities loaned and securities sold under agreements to
repurchase
Amounts outstanding at year-end $89,683 $ 93,785 $183,527
Average outstanding during the year 89,662 131,911 178,686
Maximum month-end outstanding 97,466 178,049 196,393
Weighted average interest rate
During the year 0.37% 0.33% 0.32%
At year-end 0.39% 0.31% 0.28%
Short-term borrowings
Amounts outstanding at year-end 1$57,020 $ 60,099 $ 61,981
Average outstanding during the year 57,190 64,592 60,926
Maximum month-end outstanding 60,522 68,570 66,977
Weighted average interest rate 2
During the year 0.75% 0.69% 0.65%
At year-end 0.80% 0.68% 0.89%
1. Includes short-term secured financings of $14.23 billion, $15.56 billion and
$17.29 billion as of December 2015, December 2014 and December 2013,
respectively.
2. The weighted average interest rates for these borrowings include the effect
of hedging activities.
Loan Portfolio
The table below presents a summary of the firm’s loans
receivable. Loans receivable are classified as U.S. and non-
U.S. based on the location of the legal entity in which such
loans are held.
As of December
$ in millions 2015 2014 2013 2012 2011
U.S.
Corporate loans $19,909 $14,020 $ 6,910 $2,187 $ 104
Loans to private wealth
management clients 12,824 10,989 6,545 4,057 3,040
Loans backed by commercial
real estate 3,186 1,876 727 245 198
Loans backed by residential
real estate 2,187 311 — — —
Other loans 3,495 821 — — 400
Total U.S. 41,601 28,017 14,182 6,489 3,742
Non-U.S.
Corporate loans 831 290 131 — —
Loans to private wealth
management clients 1,137 300 13 14 22
Loans backed by commercial
real estate 2,085 549 708 — —
Loans backed by residential
real estate 129 10 — — —
Other loans 38 ————
Total non-U.S. 4,220 1,149 852 14 22
Total loans receivable, gross 45,821 29,166 15,034 6,503 3,764
Allowance for loan losses
U.S. 381 205 115 24 8
Non-U.S. 33 23 24 — —
Total allowance for loan
losses 414 228 139 24 8
Total loans receivable $45,407 $28,938 $14,895 $6,479 $3,756
Allowance for Loan Losses
The table below presents changes in the allowance for loan
losses. In the table below, provisions and allowance for
loan losses primarily relate to corporate loans and loans
extended to private wealth management clients that are
held in legal entities located in the U.S.
As of December
$ in millions 2015 2014 2013 2012 2011
Allowance for loan losses
Balance, beginning of period $ 228 $ 139 $ 24 $ 8 $ 5
Charge-offs (1) (3) — — —
Provision for loan losses 187 92 115 16 3
Balance, end of period $ 414 $ 228 $ 139 $ 24 $ 8
Goldman Sachs 2015 Form 10-K 213