Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 164

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 11
Chunk 164
---
Note 11:  DerivativesWe use derivatives to manage exposure to market risk, including interest rate risk, credit risk and foreign currency risk, and to assist customers with their risk management objectives. We designate certain derivatives as hedging instruments in qualifying hedge accounting relationships (fair value or cash flow hedges). Our remaining derivatives consist of economic hedges that do not qualify for, or we have elected not to apply, hedge accounting and derivatives held for customer accommodation trading purposes. For additional information on our derivative activities, see Note 14 (Derivatives) in our 2024 Form 10-K.Table 11.1 presents the total notional or contractual amounts and fair values for our derivatives. Derivative transactions can be measured in terms of the notional amount, but this amount is not recorded on our consolidated balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged, but is used only as the basis on which derivative cash flows are determined. Table 11.1:  Notional or Contractual Amounts and Fair Values of Derivatives June 30, 2025December 31, 2024Notional or contractual amountFair value Notional or contractual amountFair value Derivative assetsDerivative liabilitiesDerivative assetsDerivative liabilities(in millions)Derivatives designated as hedging instrumentsInterest rate contracts$316,117 468 807 294,127 352 863 Commodity contracts10,108 2 93 4,756 17 10 Foreign exchange contracts2,782 18 236 3,326 12 370 Total derivatives designated as qualifying hedging instruments488 1,136 381 1,243 Derivatives not designated as hedging instrumentsInterest rate contracts10,551,628 24,350 26,093 9,510,281 28,463 30,272 Commodity contracts119,903 3,308 2,828 96,321 2,624 1,623 Equity contracts557,922 18,804 19,170 487,097 15,201 15,606 Foreign exchange contracts4,478,725 50,869 48,772 3,506,412 51,944 50,555 Credit contracts56,006 105 76 47,557 96 50 Total derivatives not