Wells Fargo op risk charge jumps $3.6bn in Q3

Operational risk-weighted assets (RWA) surged 13% in the third quarter of this year at Wells Fargo, to reach $382.1 billion.

This translates to an op risk capital requirement of $30.6 billion.

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The op RWA increase pushed Wells Fargo’s total RWAs, as calculated under the advanced approach, up by $35.7 billion (3%) to $1.22 trillion – their highest level since Q3 2017. 

Credit RWAs decreased by less than 1% over the quarter to $796.9 billion, while market RWAs fell 8% to $39.6 billion

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