Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    87,899.47
    +1,027.18 (+1.18%)
     

  • CMC Crypto 200

    1,369.81
    +57.19 (+4.35%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Goldman raises top end of legal-loss estimate

Reuters
A Goldman Sachs sign is seen above the floor of the New York Stock Exchange REUTERS/Lucas Jackson (Reuters)

(Reuters) - Goldman Sachs Group Inc <GS.N> raised the top end of the range for possible legal losses to about $5.9 billion, the bank said in a regulatory filing on Monday.

In May, the Wall Street bank estimated $3.8 billion in legal losses above what it had already set aside.

Goldman said on Monday that it was in talks with U.S. regulators to resolve claims tied to the sale of residential mortgage-backed securities prior to the financial crisis.

The bank said "potential resolution of this matter ... may result in significant penalties and other costs."

Goldman reported its smallest quarterly profit in nearly four years in July as it set aside more than $1.45 billion to cover potential mortgage settlements.

(Reporting by Anil D'Silva in Bengaluru; Editing by Don Sebastian)