Goldman Sachs Group Inc. said its U.K. subsidiary gained approval to access funding from the Bank of England as part of the central bank’s move to allow more firms to tap it in the event of a crisis.
Goldman Sachs International received access to the Sterling Monetary Framework, the unit said in a filing that detailed first-half results. The firm hasn’t borrowed any money through the program as of June 30, according to the filing.
The Bank of England widened access to the facilities last year as part of Governor Mark Carney’s plan to provide liquidity to broker-dealers and central counterparties that are viewed as critical to market stability. Carney, a former Goldman Sachs managing director, took the top job at the Bank of England in 2013 after holding the same spot at the Bank of Canada for five years.
Goldman Sachs International, the firm’s primary European unit, had $4 billion of revenue in the first six months of 2015, up from $3.55 billion a year earlier. The Times of London earlier reported the approval.