How the Fed’s asset cap changed Wells Fargo

- By Louie Woodall and Abdool Fawzee Bhollah
- 09 Apr 2020

On April 8, the Federal Reserve temporarily eased an asset cap imposed on Wells Fargo so it could make additional loans to coronavirus-ravaged small businesses.

The cap, introduced in February 2018, restricts Wells Fargo to a $1.95 trillion balance sheet. In response, the San Francisco-based bank has changed its asset mix, getting rid of excess cash while ramping up its reverse repo operations.

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