Deposits

9 Months Ended

Sep. 30, 2021

Banking and Thrift, Interest [Abstract]

Note 13.

Deposits

The table below presents the types and sources of deposits.



$ in millions	Savings and Demand	Time	Total
As of September 2021
Consumer	$ 83,584	$21,889	$105,473
Private bank	75,012	3,363	78,375
Brokered certificates of deposit	–	31,508	31,508
Deposit sweep programs	31,260	–	31,260
Transaction banking	45,764	5,628	51,392
Other	–	35,030	35,030
Total	$235,620	$97,418	$333,038
As of December 2020
Consumer	$ 67,395	$29,530	$ 96,925
Private bank	67,185	1,183	68,368
Brokered certificates of deposit	–	30,060	30,060
Deposit sweep programs	22,987	–	22,987
Transaction banking	28,852	–	28,852
Other	–	12,770	12,770
Total	$186,419	$73,543	$259,962

In the table above:

•

Substantially all deposits are interest-bearing.

•

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 $34.08 billion as of September 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 September 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 September 2021, the firm had 14 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 $148.48 billion as of September 2021 and $123.03 billion as of December 2020.

•

Deposits insured by

non-U.S.

insurance programs were $29.90 billion as of September 2021 and $27.52 billion as of December 2020.

The table below presents the location of deposits.



	As of

$ in millions		September 2021	December 2020
U.S. offices		$254,890	$206,356
Non-U.S. offices		78,148	53,606
Total		$333,038	$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 September 2021

$ in millions		U.S.	Non-U.S.	Total
Remainder of 2021		$14,539	$ 9,100	$23,639
2022		31,278	21,796	53,074
2023		8,909	131	9,040
2024		4,591	130	4,721
2025		2,302	261	2,563
2026		2,262	278	2,540
2027 - thereafter		1,131	710	1,841
Total		$65,012	$32,406	$97,418

As of September 2021, deposits in U.S. offices included $19.51 billion and deposits in

non-U.S.

offices included $31.66 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 September 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 September 2021 and December 2020.