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Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File Photo
NEW YORK, Aug 1 (Reuters) – Wells Fargo (WFC.N) said on Tuesday that proposed U.S. capital rules could lead the bank to rejig its balance sheet.
In one of the first public comments from a major U.S. lender since the proposals were released last week, Wells Fargo said the new guidelines would alter its risk gauges for lending, trading and internal operations.
“The company expects a significant increase in its risk-weighted assets and a net increase in its capital requirements based on a preliminary assessment of the proposed rule,” the bank said in a regulatory filing.
If the norms are fully implemented, they would result in a hike in capital requirements for large banks by an aggregate 16% from current levels, with the largest and most complex firms being most affected, regulators said.
Reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Matthew Lewis
Our Standards: The Thomson Reuters Trust Principles.
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