v3.26.1
Regulation and Capital Adequacy (Tables)
 6 Months Ended
Jun. 30, 2026
Regulation And Capital Adequacy [Abstract]  
Leverage Ratios and Risk-Based Capital The table below presents the minimum, capital conservation buffer and total risk-based capital requirements.
As of
JuneDecemberJuneDecember
2026202520262025
StandardizedAdvanced
Risk-based capital minimum requirements
CET1 capital ratio
4.5%4.5%4.5%4.5%
Tier 1 capital ratio
6.0%6.0%6.0%6.0%
Total capital ratio
8.0%8.0%8.0%8.0%
Capital conservation buffer requirements
G-SIB surcharge (Method 2)
3.5%3.0%3.5%3.0%
Stress capital buffer
3.4%3.4%N/AN/A
Fixed buffer
N/AN/A2.5%2.5%
Countercyclical capital buffer
0.0%0.0%0.0%0.0%
Total
6.9%6.4%6.0%5.5%
Total risk-based capital requirements
CET1 capital ratio11.4%10.9%10.5%10.0%
Tier 1 capital ratio12.9%12.4%12.0%11.5%
Total capital ratio14.9%14.4%14.0%13.5%
In the table above:
•The total risk-based capital requirements for each of the capital ratios consist of the required risk-based capital minimum and the capital conservation buffer requirements.
•The G-SIB surcharge is calculated using two methodologies (Method 1 and Method 2), the higher of which is reflected in the firm’s capital conservation buffer requirements. Method 1 relies upon measures of the size, interconnectedness, substitutability, complexity and cross-jurisdictional activities of each G-SIB. Method 2 uses similar inputs but includes a measure of reliance on short-term wholesale funding instead of substitutability. As of both June 2026 and December 2025, the G-SIB surcharge (Method 2) was higher and therefore was reflected in the capital conservation buffer requirements.
•In February 2026, the FRB announced that the 2026 Comprehensive Capital Analysis and Review (CCAR) stress test would not result in a new binding stress capital buffer (SCB) and that BHCs will continue to be subject to their SCB requirements based on their 2025 CCAR stress test until they receive new SCB requirements in 2027. As a result, absent further action from the FRB, the 3.4% SCB that the FRB set for the firm starting October 1, 2025 will remain effective through September 30, 2027.
The table below presents the leverage requirements.
As of
JuneDecember
20262025
Tier 1 leverage ratio4.0%4.0%
SLR3.75%5.0%
In the table above, the SLR requirement is calculated as the sum of (i) a 3% minimum as of both June 2026 and December 2025 and (ii) a buffer of 0.75% as of June 2026 and 2% as of December 2025.
On January 1, 2026, the firm early adopted the modified Enhanced Supplementary Leverage Ratio (eSLR) standards, which replaced the 2% buffer applicable to G-SIBs, with a buffer equal to 50% of the firm’s G-SIB surcharge (Method 1).
The table below presents information about leverage ratios.
For the Three Months
Ended or as of
JuneDecember
$ in millions20262025
Tier 1 capital$114,382 $118,943 
Average adjusted total assets$2,105,650 $1,810,007 
Total leverage exposure
$2,646,205 $2,297,597 
Tier 1 leverage ratio5.4%6.6%
SLR4.3%5.2%
In the table above:
•Average adjusted total assets represents the average daily assets for the quarter adjusted for deductions from Tier 1 capital.
•Total leverage exposure includes average adjusted total assets and the monthly average of off-balance sheet and other exposures, primarily consisting of derivatives, securities financing transactions, commitments and guarantees.
•Tier 1 leverage ratio is calculated as Tier 1 capital divided by average adjusted total assets.
•SLR is calculated as Tier 1 capital divided by total leverage exposure.
The table below presents information about GS Bank USA’s risk-based capital ratios.
$ in millionsStandardizedAdvanced
As of June 2026
CET1 capital$59,262 $59,262 
Tier 1 capital$59,262 $59,262 
Tier 2 capital$5,517 $3,937 
Total capital$64,779 $63,199 
RWAs$439,700 $331,903 
CET1 capital ratio13.5%17.9%
Tier 1 capital ratio13.5%17.9%
Total capital ratio14.7%19.0%
As of December 2025
CET1 capital$64,071 $64,071 
Tier 1 capital$64,071 $64,071 
Tier 2 capital$2,052 $677 
Total capital$66,123 $64,748 
RWAs$409,796 $306,699 
CET1 capital ratio15.6%20.9%
Tier 1 capital ratio15.6%20.9%
Total capital ratio16.1%21.1%
In the table above:
•The lower of the Standardized or Advanced ratio is the ratio against which GS Bank USA’s compliance with the capital requirements is assessed under the risk-based Capital Rules, and therefore, the Standardized ratios applied to GS Bank USA as of both June 2026 and December 2025.
•The Standardized risk-based capital ratios as of June 2026 decreased compared with December 2025, reflecting increases in both Credit and Market RWAs and a decrease in capital. The Advanced risk-based capital ratios as of June 2026 decreased compared with December 2025, reflecting increases in Credit, Market and Operational RWAs and a decrease in capital.



The table below presents information about GS Bank USA’s leverage ratios.
For the Three Months
Ended or as of
JuneDecember
$ in millions20262025
Tier 1 capital$59,262 $64,071 
Average adjusted total assets$772,756 $656,463 
Total leverage exposure
$1,063,694 $912,004 
Tier 1 leverage ratio7.7%9.8%
SLR5.6%7.0%
In the table above:
•Average adjusted total assets represents the average daily assets for the quarter adjusted for deductions from Tier 1 capital.
•Total leverage exposure includes average adjusted total assets and the monthly average of off-balance sheet and other exposures, primarily consisting of derivatives, securities financing transactions, commitments and guarantees.
•Tier 1 leverage ratio is calculated as Tier 1 capital divided by average adjusted total assets.
•SLR is calculated as Tier 1 capital divided by total leverage exposure.
Risk-Based Capital Ratios
The table below presents information about risk-based capital ratios.
$ in millionsStandardizedAdvanced
As of June 2026
CET1 capital$101,657 $101,657 
Tier 1 capital$114,382 $114,382 
Tier 2 capital$16,311 $13,703 
Total capital$130,693 $128,085 
RWAs$790,640 $747,374 
CET1 capital ratio12.9%13.6%
Tier 1 capital ratio14.5%15.3%
Total capital ratio16.5%17.1%
As of December 2025
CET1 capital$104,297 $104,297 
Tier 1 capital$118,943 $118,943 
Tier 2 capital$11,722 $9,527 
Total capital$130,665 $128,470 
RWAs$727,338 $691,470 
CET1 capital ratio14.3%15.1%
Tier 1 capital ratio16.4%17.2%
Total capital ratio18.0%18.6%
In the table above, the Standardized risk-based capital ratios as of June 2026 decreased compared with December 2025, primarily reflecting increases in both Credit and Market RWAs. The Advanced risk-based capital ratios as of June 2026 decreased compared with December 2025, reflecting increases in Credit, Market and Operational RWAs.
Minimum Risk-Based Capital Under the Standardized and Advanced Capital Rules and the Leverage Ratios and "well-capitalized" Minimum Ratios
The table below presents GS Bank USA’s risk-based capital, leverage and “well-capitalized” requirements.
As of
JuneDecemberJuneDecember
2026202520262025
"Well-capitalized"
Requirements
Requirements
Risk-based capital requirements
CET1 capital ratio7.0%7.0%6.5%6.5%
Tier 1 capital ratio8.5%8.5%8.0%8.0%
Total capital ratio10.5%10.5%10.0%10.0%
Leverage requirements
Tier 1 leverage ratio4.0%4.0%5.0%5.0%
SLR3.75%3.0%N/A6.0%
In the table above:
•The CET1 capital ratio requirement included a minimum of 4.5%, the Tier 1 capital ratio requirement included a minimum of 6.0% and the Total capital ratio requirement included a minimum of 8.0%. These requirements also included the capital conservation buffer requirements consisting of a 2.5% buffer and the countercyclical capital buffer, which the FRB has set to zero percent.
•The SLR requirement is calculated as the sum of (i) a 3% minimum as of both June 2026 and December 2025 and (ii) a 0.75% buffer as of June 2026. On January 1, 2026, GS Bank USA early adopted the modified eSLR standards, which replaced the SLR requirement for insured depository institution subsidiaries of G-SIBs to be well-capitalized with a new buffer requirement equal to 50% of their parents’ G-SIB surcharge (Method 1), capped at 1%, in addition to the 3% SLR minimum.
•The “well-capitalized” requirement was the binding requirement for the Tier 1 leverage ratio as of both June 2026 and December 2025 and the “well-capitalized” requirement was the binding requirement for the SLR as of December 2025.