The Goldman Sachs Group, Inc. successfully completed the Federal Reserves Supervisory Capital Assessment Program. We view it as an important step to restoring investor confidence and financial stability.
As regulators have stated, underlying the stress tests methodology was a very conservative set of assumptions on potential revenues and losses in a more adverse market scenario than the already challenging environment.
With respect to Goldman Sachs, the test determined that the firm does not require further capital.
After a review of the repayment conditions issued by the Federal Reserve and the Treasury, we believe that we have met all of the requirements stipulated and are highly confident that we will soon repay the governments investment from the TARPs Capital Purchase Program.
L.D.