Bloomberg News

Goldman Sachs’s Exposure to French Banks Drops to $15.1 Billion

November 09, 2011

Nov. 9 (Bloomberg) -- Goldman Sachs Group Inc. said its cross-border risks tied to French banks dropped to $15.1 billion as of Sept. 30 from $38.5 billion three months earlier.

The figures don’t include offsetting hedges and collateral, the New York-based bank said today in a 10Q filing with the Securities and Exchange Commission.

The amount is “primarily comprised” of loans to a clearinghouse that are secured by collateral, Goldman Sachs said. Cross-border outstandings include cash, receivables, cash financial instruments and repurchase agreements. They exclude derivative instruments and commitments, the bank said.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: Steve Dickson at sdickson1@bloomberg.net


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