•

Savings and demand accounts consist of money market deposit accounts, negotiable order of withdrawal accounts and demand deposit accounts that have no stated maturity or expiration date.

•

Time deposits included $33.56 billion as of June 2021 and $16.18 billion as of December 2020 of deposits accounted for at fair value under the fair value option. See Note 10 for further information about deposits accounted for at fair value.

•

Time deposits had a weighted average maturity of approximately 1.0 years as of June 2021 and 1.3 years as of December 2020.

•

Deposit sweep programs include long-term contractual agreements with U.S. broker-dealers who sweep client cash to FDIC-insured deposits. As of June 2021, the firm had 12 such deposit sweep program agreements.

•

Transaction banking deposits consists of deposits that the firm raised through its cash management services business for corporate and other institutional clients.

•

Other deposits represent deposits from institutional clients.

•

Deposits insured by the FDIC were $136.72 billion as of June 2021 and $123.03 billion as of December 2020.

•

Deposits insured by

non-U.S.

insurance programs were $29.35 billion as of June 2021 and $27.52 billion as of December 2020.

The table below presents the location of deposits.



	As of

$ in millions		June 2021	December 2020
U.S. offices		$231,734	$206,356
Non-U.S. offices		74,408	53,606
Total		$306,142	$259,962

In the table above, U.S. deposits were held at Goldman Sachs Bank USA (GS Bank USA) and substantially all

non-U.S.

deposits were held at Goldman Sachs International Bank (GSIB).

The table below presents maturities of time deposits held in U.S. and

non-U.S.

offices.



	As of June 2021

$ in millions		U.S.	Non-U.S.	Total
Remainder of 2021		$22,209	$18,345	$40,554
2022		23,219	11,209	34,428
2023		6,489	125	6,614
2024		4,151	134	4,285
2025		2,054	267	2,321
2026		1,489	251	1,740
2027 - thereafter		959	717	1,676
Total		$60,570	$31,048	$91,618

As of June 2021, deposits in U.S. offices included $14.03 billion and deposits in

non-U.S.

offices included $30.52 billion of time deposits in denominations that met or exceeded the applicable insurance limits, or were otherwise not covered by insurance.

The firm’s savings and demand deposits are recorded based on the amount of cash received plus accrued interest, which approximates fair value. In addition, the firm designates certain derivatives as fair value hedges to convert a portion of its time deposits not accounted for at fair value from fixed-rate obligations into floating-rate obligations. The carrying value of time deposits not accounted for at fair value approximated fair value as of both June 2021 and December 2020. As these savings and demand deposits and time deposits are not accounted for at fair value, they are not included in the firm’s fair value hierarchy in Notes 4 through 10. Had these deposits been included in the firm’s fair value hierarchy, they would have been classified in level 2 as of both June 2021 and December 2020.