Goldmans, MS abandon model, seek Fed shelter

And then there were none. Goldman Sachs and Morgan Stanley, the last of the big five Wall Street investment banks, have abandoned their business model to secure greater Fed protection and soothe negative market sentiment.

The two firms said Sunday they would swap their once-cherished investment-bank status to become bank holding companies. Both will now have long-term access to Fed financing, but will face tougher regulation at the hands of the central bank and the Federal Deposit Insurance

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.