Reports say Bansal and his source Jason Gross, who at the time was an employee of the Federal Reserve Bank of New York, will accept a plea deal from federal prosecutors under which both men could go to prison for up to a year.
Federal prosecutors are preparing to announce the criminal charges against the two men.
The Federal Reserve is also expected to permanently bar Bansal from the banking industry. Under a tentative deal with the regulator Goldman is expected to pay a $50 million fine and face new restrictions on how it handled delicate regulatory information.
A Goldman spokesman said Bansal worked for the firm for less than 3 months and once it detected the leak it immediately began an investigation and notified the appropriate regulators.