The bonds are initially being marketed at a heavily discounted price of 78 cents, bringing the all-in yield to roughly 14%

(Bloomberg) -- Goldman Sachs Group Inc. is shaking up the leadership ranks at the heart of its capital-market business after a big overhaul in October that merged investment banking and trading operations all in one.

Goldman Sachs provided more details on its pullback from its once-grand ambitions to expand into consumer finance. Though parts of that strategy will remain, the New York bank will halt its personal loan business and postpone offering a checking account for its wealth management customers.

Financial companies are leading a rush to lock in still-attractive borrowing costs before the Federal Reserve hikes interest rates, potentially adding to volatility and market uncertainty.

Goldman Sachs Group Inc. equities traders posted a decline in the fourth quarter, adding to evidence that the frenzied activity touched off by the pandemic is cooling, even as the bank ratcheted up payouts for employees.

This year’s stress tests examined 23 banks including JPMorgan Chase and Goldman Sachs, with the remainder of the firms on an “every other year” test cycle. The capital requirements for those remaining firms are unchanged from last year.

Goldman Sachs Group and JPMorgan Chase are ditching safeguards on credit lines to CLO managers, to defend their market share as arrangers in the lucrative business.

Progressive floats notes collateralized by single-family rentals, while GS Mortgage-Backed Securities Trust is secured by prime-jumbo and agency conforming loans.

The conduit transaction will carry a $120 million portion of a $750 million debt financing package for Facebook's newly built Oculus R&D center near San Francisco.

Loanpal, a provider of residential-solar loans in the U.S., is planning an initial public offering this year that could value the company at more than $10 billion, according to people with knowledge of the matter.