US investment bank Goldman Sachs reached a court settlement with the US authorities. The Bank will pay compensation and fines totaling 5.1 billion dollars since the eve of the Great Recession is luring investors in sales of mortgage-backed securities, writes Financial Times. According to analysts, this agreement will erase profits of the Group in the fourth quarter of last year.
, Goldman indicated that they agreed to pay a fine amounting to 2.4 billion dollars of United States Department of Justice, plus the money will pay another 875 million. Dollars of individual agencies and departments. These amounts are added benefits amounting to 1.8 billion. Dollars that Goldman Sachs will pay the other homeowners who have fallen in neplatezhosposonost.
“We are happy that we managed to reach an agreement in principle to resolve these issues,” said Chairman and CEO Lloyd Blankfein financial institution.
“This settlement took eight. Finally this is over, “said Dick Bove, banking analyst at Rafferty Capital, quoted by CNN.
Agreement between Goldman Sachs and the authorities happens a few days before the bank to announce its results for the fourth quarter of 2015. Analysts say profits will amount to 1.9 billion dollars, falling by 12% compared to the same period of 2014 The bank commented that the cost of the agreement would cut its profit by about 1.5 billion. dollars.
This is the latest agreement between the authorities, on the one hand, and the Bank of Wall Street on the other, after regulators already fined several financial institutions for misleading information relating to the trading of mortgage-backed securities recalls Financial Times.
First Bank, which were raised against such accusations was JPMorgan Chase. In 2013, she paid globa of $ 13 billion. Dollars. There was Citigroup, which a year later agreed to pay compensation in the amount of 7 billion. Dollars, the highest amount on a similar charge was paid by Bank of America – 17 billion. Dollars. In February 2015 Morgan Stanley agreed compensation in the amount of 2.6 billion. Dollars.