NEW YORK CITY (dpa-AFX) - Goldman Sachs Group, Inc. (GS) said Friday that Goldman, Sachs & Co. has reached agreements with the Federal Housing Finance Agency to resolve all federal and state securities law claims brought by the agency with respect to residential mortgage-backed securities purchased by Fannie Mae and Freddie Mac over the 2005-2007 period.
Under the terms of the agreements, Goldman is repurchasing the RMBS for $3.15 billion.
The costs of resolving the matters are substantially covered by reserves as of the second quarter of 2014, the company said.
Gregory Palm, Executive Vice President and General Counsel of Goldman Sachs Group, said, 'We are pleased to have resolved these matters.'
Copyright RTT News/dpa-AFX
© 2014 AFX News
