Wells Fargo cuts $24 billion of RWAs

Wells Fargo crushed risk-weighted assets in the third quarter, shaving billions off its end-June total as the bank continues to navigate the asset cap imposed by the Federal Reserve. 

End-September RWAs were $1.25 trillion, down 2% from $1.28 trillion the previous quarter. The reduction in RWAs outpaced the cut in total average assets, which fell just $8.6 billion (0.5%) to $1.88 trillion. 

The RWA decrease largely offset the dampening effect on the bank’s core solvency ratio caused by a drop

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