Bloomberg News

Wells Fargo Projected Losses Half That of Fed’s in Stress Test

March 20, 2014

Wells Fargo & Co.

A customer enters at a Wells Fargo & Co. bank branch in Hermosa Beach, California. Photographer: Patrick T. Fallon/Bloomberg

Wells Fargo & Co. (WFC:US) estimated that loan losses in a worst-case scenario would be about half as much as what the Federal Reserve projected in an annual stress test.

Write-offs at the San Francisco-based bank would amount to $26.8 billion over a nine-quarter period ended Dec. 31, 2015, the company said today in a statement. The Fed estimated that Wells Fargo’s loan losses would total $55.1 billion in the hypothetical situation.

To contact the reporter on this story: Dakin Campbell in New York at dcampbell27@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net


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Companies Mentioned

  • WFC
    (Wells Fargo & Co)
    • $51.38 USD
    • -0.48
    • -0.94%
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