Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 212

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 15
Chunk 212
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ized borrowings. In these transactions, we receive cash in exchange for transferring securities as collateral and recognize an obligation to reacquire the securities for cash at the transaction’s maturity. These types of transactions create risks, including (1) the counterparty may fail to return the securities at maturity, (2) the fair value of the securities transferred may decline below the amount of our obligation to reacquire the securities, and therefore create an obligation for us to pledge additional amounts, and (3) the counterparty may accelerate the maturity on demand, requiring us to reacquire the security prior to contractual maturity. We attempt to mitigate these risks in various ways. Our collateral predominantly consists of highly liquid securities. In addition, we underwrite and monitor the financial strength of our counterparties, monitor the fair value of collateral pledged relative to contractually required repurchase amounts, and monitor that our collateral is properly returned through the clearing and settlement process in advance of our cash repayment. Table 15.2 provides the gross amounts recognized on our consolidated balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type.Table 15.2:  Gross Obligations by Underlying Collateral Type (in millions)  Sep 30,2025Dec 31,2024Repurchase agreements:Securities of U.S. Treasury and federal agencies$168,219 70,362 Securities of U.S. States and political subdivisions500 648 Federal agency mortgage-backed securities101,440 54,107 Non-agency mortgage-backed securities2,687 2,397 Corporate debt securities12,731 10,008 Asset-backed securities2,957 2,334 Equity securities2,204 1,584 Other2,555 740 Total repurchases293,293 142,180 Securities lending arrangements:Securities of U.S. Treasury and federal agencies133 214 Corporate debt securities2,146 1,925 Equity securities5,722 5,101 Other19 7 Total securities lending8,020 7,247 Total repurchases and securities lending$301,313 149,427 Table 15.3 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements. Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure that matures at a point in