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GOLDMAN SACHS GROUP (GS)
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Goldman Sachs : 22 Aug 2014 Goldman Sachs Announces Agreements with FHFA

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08/23/2014 | 01:31am CEST

NEW YORK, August 22, 2014 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that Goldman, Sachs & Co. (Goldman) has reached agreements with the Federal Housing Finance Agency (FHFA) (as conservator for Fannie Mae and Freddie Mac) to resolve all federal and state securities law claims brought by FHFA with respect to residential mortgage-backed securities (RMBS) purchased by Fannie Mae and Freddie Mac over the 2005-2007 period.

Under the terms of the agreements, Goldman is repurchasing the RMBS for $3.15 billion.

The costs of resolving these matters are substantially covered by reserves as of the second quarter of 2014. 

Gregory K. Palm, Executive Vice President and General Counsel of The Goldman Sachs Group, Inc., stated "We are pleased to have resolved these matters."

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

# # #

Media Contact:
Jake Siewert
Tel: +1 212 902 5400

Investor Contact:
Dane Holmes
Tel: +1 212 902 0300

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Financials ($)
Sales 2018 36 522 M
EBIT 2018 13 005 M
Net income 2018 9 930 M
Debt 2018 -
Yield 2018 1,39%
P/E ratio 2018 9,04
P/E ratio 2019 8,89
Capi. / Sales 2018 2,36x
Capi. / Sales 2019 2,32x
Capitalization 86 189 M
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Number of Analysts 28
Average target price 273 $
Spread / Average Target 19%
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Managers
NameTitle
David Michael Solomon Chief Executive Officer
John E. Waldron President & Chief Operating Officer
Lloyd Craig Blankfein Chairman
Ramon Martin Chavez Chief Financial Officer & Executive Vice President
James A. Johnson Independent Director
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