Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 151

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 11
Chunk 151
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 designated as hedging instruments72,194 74,531 98,328 98,106 Total derivatives before netting72,628 75,667 98,709 99,349 Netting(54,110)(64,558)(78,697)(83,014)Total$18,518 11,109 20,012 16,335 Balance Sheet OffsettingWe execute substantially all of our derivative transactions under master netting arrangements. When legally enforceable, these master netting arrangements give the ability, in the event of default by the counterparty, to liquidate securities held as collateral and to offset receivables and payables with the same counterparty. We reflect all derivative balances and related cash collateral subject to legally enforceable master netting arrangements on a net basis on our consolidated balance sheet. We do not net non-cash collateral that we receive or pledge against derivative balances on our consolidated balance sheet.For disclosure purposes, we present “Total derivatives, net” which represents the aggregate of our net exposure to each counterparty after considering the balance sheet netting adjustments and any non-cash collateral. We manage derivative exposure by monitoring the credit risk associated with each counterparty using counterparty-specific credit risk limits, using master netting arrangements and obtaining collateral.Table 11.2 provides information on the fair values of derivative assets and liabilities subject to legally enforceable master netting arrangements with the same counterparty, the balance sheet netting adjustments and the resulting net fair value amount recorded on our consolidated balance sheet, as well as the non-cash collateral associated with such arrangements. In addition to the netting amounts included in the table, we also have balance sheet netting related to resale and repurchase agreements that are disclosed within Note 15 (Securities Financing Activities).

90Wells Fargo & Company

Table 11.2:  Offsetting of Derivative Assets and LiabilitiesMarch 31, 2025December 31, 2024(in millions)Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities Interest rate contracts Over-the-counter (OTC)$22,936 24,336 26,350 27,786  OTC cleared378 406 961 1,126  Exchange traded266 211 178 121  Total interest rate contracts23,580 24,953 27,489 29,033  Commodity contracts OTC3,520 2,353 1,936 1