Goldman Sachs pays US$5.06B for civil claims

  • 15/01/2016
Goldman Sachs Group, Inc. Chairman and Chief Executive Officer Lloyd Blankfein (Reuters)
Goldman Sachs Group, Inc. Chairman and Chief Executive Officer Lloyd Blankfein (Reuters)

Goldman Sachs Group says it will pay US$5.06 billion (NZ$7.8 billion) to resolve civil claims related to the firm's securitisation, underwriting and sale of residential mortgage-backed securities from 2005 to 2007.

The agreement with regulators will reduce earnings for the fourth quarter by about US$1.5 billion after tax, the company says.

Reuters

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