Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 85

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 85
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 securitizations9,803 9,615 25 (2,240)(5)Other479 — 479 — (1)Total consolidated VIEs$12,019 11,185 671 (2,240)(124)(1)All other assets includes loans held for sale and other assets.Other Transactions

In addition to the transactions included in the previous tables, we used wholly-owned trust preferred security VIEs to issue debt securities or preferred equity exclusively to third-party investors. As the sole assets of the VIEs were receivables from us, we did not consolidate the VIEs even though we owned all of the voting equity shares of the VIEs, had fully guaranteed the obligations of the VIEs, and had the right to redeem the third-party securities under certain circumstances. On our consolidated balance sheet, we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $0 and $429 million at September 30, 2025, and December 31, 2024, respectively. In second quarter 2025, we redeemed the long-term junior subordinated debt, which triggered the redemption of the securities issued by the VIEs to third-party investors.

110Wells Fargo & Company

Note 14:  Guarantees and Other CommitmentsGuarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. For additionaldescriptions of our guarantees, see Note 17 (Guarantees and Other Commitments) in our 2024 Form 10-K. Table 14.1 shows carrying value and maximum exposure to loss on our guarantees.Table 14.1:  Guarantees – Carrying Value and Maximum Exposure to Loss Maximum exposure to loss (in millions)Carrying value of obligationExpires in one year or lessExpires after one year through three yearsExpires after three years through five yearsExpires after five yearsTotal Non-investment gradeSeptember 30, 2025Standby letters of credit (1)$97 14,369 5,279 1,705 13 21,366 7,001 Direct pay letters of credit (1)4 1,077 1,777 81 89 3,024 696 Loans and LHFS sold with recourse86 1,424 3,103