Wells Fargo assets surpass $2trn as cap lift fuels expansion
Bank’s total assets rise $82bn in Q3, driven by federal funds, securities and loans
Wells Fargo’s total assets topped $2 trillion for the first time in the third quarter, after the US Federal Reserve lifted the bank’s seven-year asset cap. The removal of the growth constraint prompted a broad expansion across the bank’s balance sheet, led by securities, trading assets and loans, as management moved to deploy its newly regained capacity.
The Fed imposed the $1.95 trillion limit in
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