October 18, 2023 (NO COMMENTS)

Wells Fargo netted a 14-basis-point gain in its Common Equity Tier 1 (CET1) capital ratio in the third quarter, following the liquidation of private equity stakes that would otherwise remain ineligible for inclusion in regulatory capital. The bank sold investments with a fair value of around $2 billion in two Norwest funds, turning the associated goodwill and intangible exposure, which are subject to prudential deduction from regulatory capital, into CET1-eligible assets.