The Wall Street bank tore up $25 billion worth of contracts with clients in its "matched book" of repurchase agreements, and also cut exposure to secured financing, Schwartz said.

The changes were made in the second quarter after Goldman received more clarity on a new supplemental leverage ratio, and better understood its annual stress test by the U.S. Federal Reserve. Goldman does not expect to reduce those businesses further, though that could change, Schwartz said.

(Reporting by Lauren Tara LaCapra, Editing by Franklin Paul)