Wells Fargo to Use Advanced Approaches for Capital Requirements
March 31 2015 - 2:51PM
Business Wire
Wells Fargo & Company (NYSE:WFC) announced today the Federal
Reserve Board and the Office of the Comptroller of the Currency
have permitted it and its national subsidiary banks to begin using
the “advanced approaches” capital framework to determine risk-based
capital requirements starting in the second quarter of 2015.
Additionally, the company noted that the approval did not include
stipulations requiring Wells Fargo to increase its current
estimated advanced approach risk-weighted assets (RWA).
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a nationwide,
diversified, community-based financial services company with $1.7
trillion in assets. Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance, investments,
mortgage, and consumer and commercial finance through more than
8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and
mobile banking, and has offices in 36 countries to support
customers who conduct business in the global economy. With
approximately 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was
ranked No. 29 on Fortune’s 2014 rankings of America’s largest
corporations.
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements about our
future regulatory capital levels and possible future capital
actions. Forward-looking statements speak only as of the date made,
and we do not undertake to update them. Actual capital levels and
capital actions may vary materially from the expectations described
in this news release due to a number of factors, including those
described in our reports filed with the Securities and Exchange
Commission and available at www.sec.gov.
Wells Fargo & CompanyAncel Martinez, 415-222-3858 (Media)Jim
Rowe, 415-396-8216 (Investors)
Wells Fargo (NYSE:WFC)
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