Goldman and Citi defy gravity on commodity VAR

Two banks' commodity VAR stays about the same or increases from 2012–14

Goldman Sachs
Goldman Sachs: long-standing commitment to commodities

Among a group of six major US and UK banks, Goldman Sachs and Citi are alone in maintaining or even slightly increasing their risk appetite in commodities during the past three years, regulatory filings show.

The filings cast a spotlight on the banks' value-at-risk, a number that reflects the maximum amount of money a firm might expect to lose during a period of adverse market conditions.

All six banks experienced a drop in levels of commodity VAR since 2011, reflecting a broad retreat from

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