Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 210

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 15
Chunk 210
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 for transferring securities as collateral and recognize an obligation to reacquire the securities for cash at the transaction’s maturity. These types of transactions create risks, including (1) the counterparty may fail to return the securities at maturity, (2) the fair value of the securities transferred may decline below the amount of our obligation to reacquire the securities, and therefore create an obligation for us to pledge additional amounts, and (3) the counterparty may accelerate the maturity on demand, requiring us to reacquire the security prior to contractual maturity. We attempt to mitigate these risks in various ways. Our collateral predominantly consists of highly liquid securities. In addition, we underwrite and monitor the financial strength of our counterparties, monitor the fair value of collateral pledged relative to contractually required repurchase amounts, and monitor that our collateral is properly returned through the clearing and settlement process in advance of our cash repayment. Table 15.2 provides the gross amounts recognized on our consolidated balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type.Table 15.2:  Gross Obligations by Underlying Collateral Type (in millions)  Jun 30,2025Dec 31,2024Repurchase agreements:Securities of U.S. Treasury and federal agencies$105,123 70,362 Securities of U.S. States and political subdivisions187 648 Federal agency mortgage-backed securities89,650 54,107 Non-agency mortgage-backed securities2,524 2,397 Corporate debt securities10,937 10,008 Asset-backed securities2,613 2,334 Equity securities1,254 1,584 Other2,321 740 Total repurchases214,609 142,180 Securities lending arrangements:Securities of U.S. Treasury and federal agencies525 214 Corporate debt securities2,067 1,925 Equity securities4,987 5,101 Other13 7 Total securities lending7,592 7,247 Total repurchases and securities lending$222,201 149,427 Table 15.3 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure that matures at a point in time. The overnight agreements require an election by both parties to roll