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  "notes": "The table uses checkmarks and x-marks to indicate the presence or absence of specific funding relationships (borrowing/lending) between entities.",
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      "text": "To mitigate the risk of disruption to our inter-company funding, we have pre-positioned liquidity and intercompany debt at key material entities; we also hold substantial liquidity at our parent company and Funding IHC.",
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      "text": "Secured Funding. Many of our material operating entities lend to and borrow from each other on a secured basis, generally as a mechanism for collateral realignment, cash reinvestment, or sourcing securities for an entity's GCLA. The majority of these transactions are collateralized by GCLA-eligible securities, which are highly liquid. A significant portion of the remainder relates to the covering of short positions, which allows the lending entity to manage risk, or is used for collateral and funding optimization.",
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      "text": "Cross-default Provisions. Historically, documents that govern our OTC derivative transactions usually contained \"cross-default\" provisions; these give counterparties the right to terminate their transactions with one Goldman Sachs legal entity, even if it is solvent and performing its obligations under the transaction, because of certain credit-related events at certain other Goldman Sachs legal entities. However, we have mitigated the effect of cross-default provisions; all of our affiliates that engage in external derivatives activity under ISDA Master Agreements have signed the ISDA Resolution Stay Protocols. In the event of resolution, these impose a stay on certain cross-default and early termination rights in standard ISDA derivative, repo and securities lending contracts with other adhering counterparties. Consequently, our intercompany derivatives are afforded the protection of the ISDA Resolution Stay Protocols.",
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      "text": "The table below reflects the material16 unsecured funding relationships among Group Inc., Funding IHC and material operating entities.",
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      "text": "To mitigate the risk of disruption to our inter-company funding, we have pre-positioned liquidity and intercompany debt at key material entities; we also hold substantial liquidity at our parent company and Funding IHC, which gives us the flexibility to place additional liquidity at affiliates in the event that it is required.",
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      "text": "16 Balances of more than $500 million as of December 2022 are considered material.",
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