{
  "docId": "019dd923-5e88-73ef-bd59-e554727c032d",
  "docSlug": "4c5f1d6f702f7476",
  "documentTitle": "one goldman sachs",
  "authorId": "GoldmanSachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "portrait",
  "aspectRatio": 0.773,
  "pageNumber": 18,
  "pageCount": 124,
  "prevPage": 17,
  "nextPage": 19,
  "slideType": "appendix_disclosure",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 4,
  "notes": "Contains specific regulatory capital buffer percentages and mentions of 2023 bank failures (SVB, Signature, First Republic).",
  "elementsJson": [
    "headline_text",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd59-e554727c032d/18",
  "deckHref": "/decks/019dd923-5e88-73ef-bd59-e554727c032d",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd59-e554727c032d.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd59-e554727c032d#slide-18",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Our target is to maintain capital ratios equal to the regulatory requirements plus a buffer of 50 to 100 basis points.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-1641-767d-84ff-43eaeeb66ad5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Capital ratios: 2.5%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-1641-767d-84ff-446b17687073",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.8,
        "x": 0.1,
        "y": 0.52
      },
      "kind": "paragraph",
      "text": "The capital requirements calculated under the Capital Framework include the capital conservation buffer requirements, which are comprised of a 2.5% buffer (under the Advanced Capital Rules), the SCB (under the Standardized Capital Rules), a countercyclical capital buffer (under both Capital Rules) and the G-SIB surcharge (under both Capital Rules). Our G-SIB surcharge was 2.5% for 2022 and is 3.0% for 2023 and 2024. The G-SIB surcharge and countercyclical capital buffer in the future may differ due to additional guidance from our regulators and/or positional changes, and our SCB is likely to change from year to year based on the results of the annual supervisory stress tests. Our target is to maintain capital ratios equal to the regulatory requirements plus a buffer of 50 to 100 basis points.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2f70536e-05f1-4a5d-9fc0-adf183f93189",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.1,
        "y": 0.45
      },
      "kind": "paragraph",
      "text": "We are subject to consolidated regulatory capital requirements which are calculated in accordance with the regulations of the FRB (\"Capital Framework\"). Under the Capital Framework, we are an \"Advanced approaches\" banking organization and have been designated as a G-SIB.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3c20f47d-eaa7-4421-81d4-dc70fec4edde",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.8,
        "x": 0.1,
        "y": 0.34
      },
      "kind": "paragraph",
      "text": "We may issue, redeem or repurchase our preferred stock and subordinated debt or other forms of capital as business conditions warrant. Prior to such redemptions or repurchases, we must receive approval from the FRB.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "55b3f9c2-e1dd-41f6-bc33-3fc792d3a71e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.1,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "We manage our capital requirements and the levels of our capital usage principally by setting limits on the balance sheet and/or limits on risk, in each case at both the firmwide and business levels.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "76992a8d-8214-4751-a8f1-7262870c60c3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.1,
        "y": 0.11
      },
      "kind": "paragraph",
      "text": "We determine the appropriate amount and composition of our capital by considering multiple factors, including our current and future regulatory capital requirements, the results of our capital planning and stress testing process, the results of resolution capital models and other factors, such as rating agency guidelines, subsidiary capital requirements, the business environment and conditions in the financial markets.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "99fb1db6-7704-4da1-bbe4-9b132e5f1f5d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.8,
        "x": 0.1,
        "y": 0.29
      },
      "kind": "paragraph",
      "text": "We principally manage the level and composition of our capital through issuances and repurchases of our common stock.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a4c1d761-ba31-4511-b153-1d46df2ba8d4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.8,
        "x": 0.1,
        "y": 0.79
      },
      "kind": "paragraph",
      "text": "These events have placed heightened focus on the impact that rising interest rates have had on the market values of available-for-sale and held-to-maturity securities portfolios of banks. As of March 2023, the carrying value of our available-for-sale securities portfolio was $48.64 billion, substantially all of which consisted of U.S. government obligations. As of March 2023, the pre-tax net unrealized losses included in accumulated other comprehensive income/(loss) and our",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c3c585ea-4498-4479-9fa7-9e0cf7442f4d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.8,
        "x": 0.1,
        "y": 0.69
      },
      "kind": "paragraph",
      "text": "During the first quarter of 2023, Silicon Valley Bank and Signature Bank, two regional banks in the U.S., experienced large deposit outflows that ultimately resulted in the failure of these banks in March 2023 and the appointment of the FDIC as receiver for them. Similarly, in the second quarter of 2023, the FDIC was appointed receiver of First Republic Bank after it too experienced large deposit outflows.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f5452f64-c4f6-40b0-ab89-81b360532570",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.04
      },
      "kind": "title",
      "text": "2023 Resolution Plan",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "33e8bed6-41cc-423d-9cf2-467619bf3422",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.3,
        "x": 0.1,
        "y": 0.41
      },
      "kind": "title",
      "text": "Consolidated Regulatory Capital",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2680b52c-c811-43c1-941a-c7888420f99f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 124,
      "from": 8,
      "beatId": "d68786b1-3dab-4ad0-b5b0-04ed44c1c6d3",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "The document contains extensive data tables, appendix data, and methodology explanations.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 124,
      "from": 6,
      "name": "Logic Chain",
      "slug": "01-logic-chain",
      "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis",
      "matchId": "d24b5f0d-d542-4d18-a73f-65d59f4261ed",
      "evidence": "The document provides a detailed explanation of the plan and supporting data.",
      "position": 0,
      "objective": "To demonstrate the effectiveness of Goldman Sachs' resolution plan.",
      "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
      "confidence": 0.7,
      "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}