Citi, Goldman, State Street add $685m of complex assets

Private equity, asset-backed security and loan holdings drive increase in Level 3 instruments

Outstanding amounts of Level 3 assets – illiquid, hard-to-value instruments – held by Citi, Goldman Sachs and State Street grew over the first quarter of this year.

Data from systemic risk reports shows Citi posted the largest quarterly increase, with stocks of Level 3 assets climbing $365 million (4%) to $10.7 billion. Goldman Sachs saw its Level 3 assets edge up $263 million (1%) to $23.3 billion, and State Street’s by $57 million (4%) to $1.3 billion.

The Level 3 holdings of four other US