Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 78

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 78
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 five yearsExpires after five yearsTotal Non-investment gradeMarch 31, 2025Standby letters of credit (1)$95 14,456 5,139 1,607 40 21,242 6,884 Direct pay letters of credit (1)5 1,338 1,415 266 91 3,110 698 Loans and LHFS sold with recourse88 1,284 2,493 4,013 6,034 13,824 10,403 Exchange and clearing house guarantees— 67,177 — — — 67,177 — Other guarantees and indemnifications34 1,865 230 85 559 2,739 722 Total guarantees$222 86,120 9,277 5,971 6,724 108,092 18,707 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