Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 86

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 86
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 3,794 5,775 14,096 10,698 Exchange and clearing house guarantees— 96,625 — — — 96,625 — Other guarantees and indemnifications42 1,523 772 551 1,191 4,037 886 Total guarantees$229 115,018 10,931 6,131 7,068 139,148 19,281 December 31, 2024Standby letters of credit (1)$90 13,311 6,951 1,538 17 21,817 7,198 Direct pay letters of credit (1)2 1,818 1,051 108 92 3,069 766 Loans and LHFS sold with recourse82 593 3,089 3,969 6,223 13,874 10,660 Exchange and clearing house guarantees— 38,852 — — — 38,852 — Other guarantees and indemnifications36 1,888 496 124 553 3,061 1,022 Total guarantees$210 56,462 11,587 5,739 6,885 80,673 19,646 (1)Standby and direct pay letters of credit are reported net of syndications and participations.Maximum exposure to loss represents the estimated loss that would be incurred under an assumed hypothetical circumstance, despite what we believe is a remote possibility, where the value of our interests and any associated collateral declines to zero. Maximum exposure to loss estimates in Table 14.1 do not reflect economic hedges or collateral we could use to offset or recover losses we may incur under our guarantee agreements. Accordingly, these amounts are not an indication of expected loss. We believe the carrying value is more representative of our current exposure to loss than maximum exposure to loss. The carrying value represents the fair value of the guarantee, if any, and also includes an ACL for guarantees, if applicable. In determining the ACL for guarantees, we consider the credit risk of the related contingent obligation.For our guarantees in Table 14.1, non-investment grade represents those guarantees on which we have a higher risk of performance under the terms of the guarantee, which is determined based on an external rating or an internal credit grade that is below investment grade, if applicable.WRITTEN OPTIONS.  We enter into written foreign currency options and over-the