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  "notes": "The slide details the entity profile and the preferred resolution strategy for J. Aron & Company LLC (JANY).",
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      "text": "We believe JANY entering proceedings would not have a systemic impact on the marketplace.",
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      "text": "We have considered a range of options for the orderly resolution of JANY and have assessed the implications of an orderly wind-down of this entity both in and out of proceedings. Under our preferred resolution strategy, we assume that JANY enters bankruptcy proceedings along with Group Inc. In this scenario, we assume that JANY's derivatives close out immediately following the commencement of proceedings, and that losses are incurred upon the unwind of these derivatives. At this time, JANY would also enter the orderly wind-down phase in which the entity would begin selling assets. If losses incurred on the unwinding of derivatives and disposition of assets are greater than the capital held in the entity, third-party creditors would either be made whole, or they would likely have a claim against Group Inc. pursuant to parent company transactional guarantees. We believe JANY entering proceedings would not have a systemic impact on the marketplace. Alternative options could be pursued, including a wind-down outside of proceedings.",
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      "text": "terminations. Our strategy is designed with the goal of having sufficient capital and liquidity to pay GS Bank USA's depositors and other third-party creditors in full, with any remaining amounts ultimately returned to the bankruptcy estate of the parent company. Accordingly, our strategy is designed with the goal of having no impact to the FDIC's Deposit Insurance Fund.",
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      "text": "Regulatory Status: Swap dealer; Incorporation: Limited liability company organized in New York; Primary Regulators: CFTC, Federal Energy Regulatory Commission; Ownership: Direct, wholly-owned subsidiary of Group Inc.; Office Location: New York, NY; Activities: Currencies and commodities trading and market-making; Funding Sources: Unsecured funding from Group Inc., Secured borrowings from affiliates (primarily GSI)",
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