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  "notes": "Contains regulatory disclosure regarding TLAC (Total Loss-Absorbing Capacity) and MREL (Minimum Requirement for own funds and Eligible Liabilities).",
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      "text": "The amount of internal TLAC that is pre-positioned at each material entity is the higher of the local jurisdictional requirement and our internal pre-positioning target, based on a proportion of each entity's RCEN.",
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      "text": "The Bank of England's internal MREL requirements, which apply to GSI (our U.K. broker-dealer) and to the holding company of the U.K. regulated group, are now phased in and were fully effective from 1 January 2022; The Japan Financial Services Agency's (\"JFSA\") internal TLAC requirements, which apply to GSJCL (our Japan broker-dealer), became applicable from March 2020; Within the European Union, GSBE (our German bank) became subject to a minimum MREL requirement in 1Q22 and the Single Resolution Board's additional MREL requirement will apply to GSBE from 1 January 2024",
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      "text": "Entering into contracts that give a third party a right to offset the debt it owes to a GS Group affiliate against an amount owed to the third party by Group Inc.; Guaranteeing the liabilities of subsidiaries if such a guarantee would permit the exercise of default rights against the subsidiary in the event of Group Inc.'s insolvency, unless the liabilities are subject to restrictions on those default rights; Benefiting from “upstream” guarantees of Group Inc.'s liabilities by affiliates; and Incurring unsecured liabilities to third parties that do not count as TLAC in excess of 5% of total liabilities.",
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