Goldman Sachs 2009 Annual Report Download - page 163

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Changes in Net Interest Income, Volume and Rate Analysis
The following table sets forth an analysis of the effect on net interest income of volume and rate changes for the periods 2009
versus 2008 and 2008 versus 2007. In this analysis, changes due to volume/rate variance have been allocated to volume.
For the Year Ended
December2009 versus November2008 November2008 versus November 2007
Increase (decrease) due Increase (decrease) due
to change in: to change in:
(inmillions) Volume Rate Net change Volume Rate Net change
Interest-earning assets
Deposits with banks $ 39 $ (162) $ (123) $ 74 $ (5) $ 69
U.S. 41 (37) 4 21 (3) 18
Non-U.S. (2) (125) (127) 53 (2) 51
Securities borrowed, securities purchased under
agreements to resell, at fair value and
federal funds sold 87 (10,882) (10,795) 2,055 (8,322) (6,267)
U.S. (4) (8,773) (8,777) 1,370 (8,028) (6,658)
Non-U.S. 91 (2,109) (2,018) 685 (294) 391
Trading assets (1,610) (434) (2,044) (327) 357 30
U.S. 524 205 729 (169) (298) (467)
Non-U.S. (2,134) (639) (2,773) (158) 655 497
Other interest-earning assets (1,370) (7,394) (8,764) 51 (4,218) (4,167)
U.S. (618) (2,768) (3,386) 1,143 (3,185) (2,042)
Non-U.S. (752) (4,626) (5,378) (1,092) (1,033) (2,125)
Change in interest income (2,854) (18,872) (21,726) 1,853 (12,188) (10,335)
Interest-bearing liabilities
Interest-bearing deposits 151 (492) (341) 378 (299) 79
U.S. 142 (388) (246) 242 (299) (57)
Non-U.S. 9 (104) (95) 136 136
Securities loaned and securities sold under
agreements to repurchase, at fair value (857) (5,240) (6,097) (943) (4,255) (5,198)
U.S. 15 (3,286) (3,271) 408 (4,442) (4,034)
Non-U.S. (872) (1,954) (2,826) (1,351) 187 (1,164)
Trading liabilities (636) (299) (935) (371) (706) (1,077)
U.S. (140) (476) (616) (302) (830) (1,132)
Non-U.S. (496) 177 (319) (69) 124 55
Commercial paper (31) (109) (140) (61) (63) (124)
U.S. (30) (88) (118) (66) (55) (121)
Non-U.S. (1) (21) (22) 5 (8) (3)
Other borrowings (339) (762) (1,101) 177 (1,587) (1,410)
U.S. (232) (289) (521) 147 (880) (733)
Non-U.S. (107) (473) (580) 30 (707) (677)
Long-term debt (128) (4,262) (4,390) 1,197 (1,052) 145
U.S. 123 (4,081) (3,958) 796 (941) (145)
Non-U.S. (251) (181) (432) 401 (111) 290
Other interest-bearing liabilities (178) (11,675) (11,853) 3,115 (6,154) (3,039)
U.S. 332 (7,330) (6,998) 2,127 (6,419) (4,292)
Non-U.S. (510) (4,345) (4,855) 988 265 1,253
Change in interest expense (2,018) (22,839) (24,857) 3,492 (14,116) (10,624)
Change in net interest income $ (836) $ 3,967 $ 3,131 $(1,639) $ 1,928 $ 289
Goldman Sachs 2009 Annual Report
161
Supplemental Financial Information