{ "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": 86, "pageCount": 124, "prevPage": 85, "nextPage": 87, "slideType": "appendix_methodology", "function": "summarize", "density": "dense", "nDataPoints": 0, "notes": "This slide describes the technical methodologies and governance frameworks used by Goldman Sachs for resolution planning and liquidity risk management.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd59-e554727c032d/86", "deckHref": "/decks/019dd923-5e88-73ef-bd59-e554727c032d", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd59-e554727c032d.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd59-e554727c032d#slide-86", "components": [ { "bbox": { "h": 0.08, "w": 0.78, "x": 0.11, "y": 0.11 }, "kind": "paragraph", "text": "Intraday Liquidity Model. Our Intraday Liquidity Model measures our intraday liquidity needs using a scenario analysis characterized by the same qualitative elements as our Modeled Liquidity Outflow. The model assesses the risk of increased intraday liquidity requirements during a scenario where access to sources of intraday liquidity may become constrained.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4a470686-eba2-409d-b347-03db20eb89fc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.78, "x": 0.11, "y": 0.32 }, "kind": "paragraph", "text": "Resolution Liquidity Models. In connection with our resolution planning efforts, we have established our Resolution Liquidity Adequacy and Positioning framework, which estimates liquidity needs of our major subsidiaries in a stressed environment. The liquidity needs are measured using our Modeled Liquidity Outflow assumptions and include certain additional inter-affiliate exposures. We have also established our Resolution Liquidity Execution Need framework, which measures the liquidity needs of our major subsidiaries to stabilize and wind down following a Group Inc. bankruptcy filing in accordance with our preferred resolution strategy. In addition, we have established a triggers and alerts framework, which is designed to provide the Board with information needed to make an informed decision on whether and when to commence bankruptcy proceedings for Group Inc.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9badb8cd-3a4d-428f-923d-7f4fc583be4b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.78, "x": 0.11, "y": 0.2 }, "kind": "paragraph", "text": "Long-Term Stress Testing. We utilize longer-term stress tests to take a forward view on our liquidity position through prolonged stress periods in which we experience a severe liquidity stress and recover in an environment that continues to be challenging. We are focused on ensuring conservative asset-liability management to prepare for a prolonged period of potential stress, seeking to maintain a diversified funding profile with an appropriate tenor, taking into consideration the characteristics and liquidity profile of our assets.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9c806695-3d82-4084-a7c2-2bd3978e6836", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.16, "w": 0.78, "x": 0.11, "y": 0.68 }, "kind": "paragraph", "text": "GCLA and Unencumbered Metrics. GCLA. Based on the results of our internal liquidity risk models, described above, as well as our consideration of other factors, including, but not limited to, a qualitative assessment of our condition, as well as the financial markets, we believe our liquidity position as of both December 2022 and December 2021 was appropriate. We strictly limit our GCLA to a narrowly defined list of securities and cash because they are highly liquid, even in a difficult funding environment. We do not include other potential sources of excess liquidity in our GCLA, such as less liquid unencumbered securities or committed credit facilities.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d25861ad-a7fe-4f08-9ac6-eff4e911a56e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.78, "x": 0.11, "y": 0.55 }, "kind": "paragraph", "text": "Limits. We use liquidity risk limits at various levels and across liquidity risk types to manage the size of our liquidity exposures. Limits are measured relative to acceptable levels of risk given our liquidity risk tolerance. Limits are monitored by Treasury and Liquidity Risk. Liquidity Risk is responsible for identifying and escalating to senior management and/or the appropriate risk committee, on a timely basis, instances where limits have been exceeded.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f97e45df-f0f5-4819-9fee-49eb55065be2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.39, "x": 0.07, "y": 0.04 }, "kind": "title", "text": "2023 Resolution Plan", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bdce2e1f-f1d3-4ccc-a7e5-c8da4a839688", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "List presentation", "slug": "list-presentation", "agent": null, "layer": "slide", "matchId": "23629bdc-a1d0-4a2c-bc01-2a38ff4fafc5", "evidence": "GCLA and Unencumbered Metrics. GCLA. Based on the results of our internal liquidity risk models, described above, as well as our consideration of other factors, including, but not limited to, a qualitative", "confidence": 0.7 } ], "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... 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