WELLS FARGO & COMPANY/MN
For the period ended Jun 30, 2026. Filed Jul 28, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 28, 2026
WFC$83.94-1.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-04-29.
0000072971-26-000217
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Financial Review)Current report: 10-Q
Period ended 2026-06-30; filed 2026-07-28.
0000072971-26-000302
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Financial Review)The baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 513 previous paragraphs and 545 current paragraphs.
350 unchanged; 128 reworded; 47 added; 30 removed; 5 previous and 20 current paragraphs rearranged.
Tables are not compared: 101 previous and 103 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (47)
Current report
Wells Fargo net income for the first half of 2026 was $11.7 billion ($3.60 diluted EPS), compared with $10.4 billion ($2.98 diluted EPS) in the same period a year ago. Net income increased in the first half of 2026, compared with the same period a year ago, predominantly due to a $1.9 billion increase in noninterest income and a $1.2 billion increase in net interest income, partially offset by a $721 million increase in noninterest expense and a $655 million increase in income tax expense.
Current report
Earnings Performance(continued)
Current report
Deposit-related fees increased driven by higher consumer account deposit service charges due to account repricing, as well as higher commercial account deposit service charges.
Current report
Commissions and brokerage services fees increased driven by higher brokerage transaction activity.
Current report
•a $148 million decrease in lease income due to the sale of our rail car leasing business in first quarter 2026.
Current report
Deposit-related fees increased driven by higher consumer account deposit service charges due to account repricing.
Current report
Commissions and brokerage services fees increased driven by higher brokerage transaction activity.
Current report
Net gains (losses) from equity securities increased reflecting improved results from our venture capital investments, including higher realized and unrealized gains, partially offset by higher impairment losses.
Current report
Other income decreased driven by:
Current report
•a $297 million decrease in lease income due to the sale of our rail car leasing business in first quarter 2026;
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•a $253 million gain associated with our merchant services joint venture acquisition in second quarter 2025.
Current report
Other expense decreased reflecting:
Current report
•a $93 million and $180 million decrease in lease expense in the second quarter and first half of 2026, respectively, due to the sale of our rail car leasing business in first quarter 2026; and
Current report
•lower operating losses.
Current report
•higher net interest income reflecting wider deposit spreads and higher deposit and loan balances, including the impact of the transfer of certain business customers from the Commercial Banking operating segment in third quarter 2025; and
Current report
•higher deposit-related fees driven by higher volume and higher consumer account deposit service charges driven by account repricing.
Current report
•higher net interest income reflecting wider deposit spreads and higher deposit and loan balances, including the impact of the transfer of certain business customers from the Commercial Banking operating segment in third quarter 2025;
Current report
•higher deposit-related fees driven by higher volume and higher consumer account deposit service charges driven by account repricing; and
Current report
•higher advertising and promotion expense;
Current report
Provision for credit losses increased reflecting a higher allowance for commercial and industrial loans driven by higher loan balances, as well as a release in the allowance for commercial and industrial loans in second quarter 2025.
Current report
Noninterest expense decreased driven by:
Current report
•lower noninterest-bearing deposits; and
Current report
•higher net interest income driven by higher interest-bearing deposit and loan balances, partially offset by the impact of lower interest rates; and
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compensation expense; and
Current report
•higher net interest income driven by higher interest-bearing deposit and loan balances, partially offset by the impact of lower interest rates; and
Current report
Second quarter and first half of 2026 vs. second quarter and
Current report
first half of 2025
Current report
Total loans (average and period-end)increased driven by higher commercial and industrial loans reflecting increased demand in fund finance and corporate loans in our Banking business and higher loan volume in our Markets business.
Current report
agreements; and
Current report
•a $148 million decrease in lease income due tothe sale of our rail car leasing business in first quarter 2026;
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•higher net gains from equity securities reflecting improved results from our venture capital investments, including higher realized and unrealized gains, partially offset by higher impairment losses.
Current report
•lower operating losses; and
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•a $93 million decrease in lease expense due to the sale of our rail car leasing business in first quarter 2026.
Current report
Revenue decreased driven by:
Current report
Noninterest expense decreased reflecting:
Current report
•a $180 million decrease in lease expense due to the sale of our rail car leasing business in first quarter 2026; and
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Second quarter and first half of 2026 vs. second quarter and
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first half of 2025
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Balance Sheet Analysis(continued)
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•growth in commercial deposits driven by new and existing customers; and
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Previous report
Mortgage banking decreased driven by:
Previous report
•lower net gains on mortgage loan origination/sales driven by decreased commercial mortgage loan sales volumes.
Previous report
Other expense decreased reflecting lower lease and other expense related to the sale of our rail car leasing business in first quarter 2026.
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(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.
Previous report
(7)In first quarter 2026, we moved the client assets, including advisory and other brokerage assets and deposits, associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been included to conform with the current period presentation.
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(11)In first quarter 2026, credit card metrics were revised to exclude co-branded cards. Prior period balances have been revised to conform with the current period presentation.
Previous report
•higher net interest income reflecting lower deposit pricing and higher deposit and loan balances due to the impact of the transfer of certain business customers from the Commercial Banking operating segment in third quarter 2025;
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•higher deposit-related fees reflecting repricing on consumer accounts;
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Noninterest expense increased driven by:
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(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.
Previous report
including tax credit investments; and
Previous report
Noninterest expense decreased driven by the impact of the transfer of certain business customers to the Consumer Banking and Lending operating segment in third quarter 2025, as well as the impact of efficiency initiatives.
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•higher net interest income driven by higher deposit and loan balances, partially offset by the impact of lower interest rates; and
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•lower mortgage banking income driven by lower net servicing fees resulting from portfolio run-off and servicing sales, including the sale of the non-agency portion of our commercial mortgage third-party servicing business in first quarter 2025, and lower net gains on mortgage loan origination/sales driven by decreased commercial mortgage loan sales volumes.
Previous report
Noninterest expense increased driven by:
Previous report
Total loans (average and period-end)increased driven by commercial and industrial loan originations and draws on existing loan accounts exceeding loan payoffs.
Previous report
(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation.
Previous report
•lower lease income driven by thesale of our rail car leasing business in first quarter 2026;
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•lower lease and other expense related to the sale of our rail car leasing business in first quarter 2026; and
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(4)In first quarter 2026, we reclassified prime brokerage margin loans from the asset managers and funds category within the financials except banks industry category to Other. Prior period balances have been revised to conform with the current period presentation.
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•$52.6 billion and $51.8 billion in the financials except banks industry;
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(1)In second quarter 2025, we changed our approach for allocating VaR by risk category to align the primary product class of a trading position to a single risk category. Previously, products with multiple risks were allocated across several risk categories. This change did not affect the underlying assumptions, parameters, or the VaR model itself.
Previous report
by tender offer, or otherwise.
Previous report
In addition to the risk-based capital requirements described in Table 28, if the FRB determines that a period of excessive credit growth is contributing to an increase in systemic risk, a countercyclical buffer of up to 2.50% could be added to the risk-based capital ratio requirements under federal banking regulations. The countercyclical buffer in effect at March 31, 2026, was 0.00%.
Previous report
In August 2023, the FRB proposed rules that would, among other things, modify the calculation of eligible long-term debt that counts towards the TLAC requirements, which would reduce our TLAC ratios.
Previous report
In March 2026, we redeemed our Preferred Stock, Series BB, and issued our Preferred Stock, Series GG. For additional information, see Note 8 (Preferred Stock and Common Stock) to Financial Statements in this Report.
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Federal Reserve Board Consent Order Regarding Governance Oversight and Compliance and Operational Risk Management. On March 5, 2026, the Company announced the FRB had terminated the consent order the Company entered into on February 2, 2018, requiring the Company’s Board of Directors (Board) to further enhance the Board’s governance and oversight of the Company, and the Company to further improve the Company’s compliance and operational risk management program.
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“Living Will” Requirements and Related Matters. In addition to our resolution plans, we must also prepare and periodically submit to the FRB a recovery plan that identifies a range of options that we may consider during times of idiosyncratic or systemic economic stress to remedy any financial weaknesses and restore market confidence without extraordinary government support. Recovery options include the possible sale, transfer or disposal of assets, securities, loan portfolios or businesses. If the FRB determines that our recovery plan is deficient, it may impose fines, restrictions on our business or ultimately require us to divest assets. The Bank was also required to prepare and periodically submit to the OCC a recovery plan. In March 2026, the OCC issued a rule to rescind their recovery planning guidelines.
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Wells Fargo & Company is a leading financial services company that has approximately $2.2 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and
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Wells Fargo & Company is a leading financial services company that has approximately $2.3 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and
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Investment Banking, and Wealth and Investment Management. Wells Fargo ranked No. 33 on Fortune’s 2025 rankings of America’s largest corporations. We ranked fourth in assets and fifth in the market value of our common stock among all U.S. banks at March 31, 2026.
Current wording
Investment Banking, and Wealth and Investment Management. Wells Fargo ranked No. 38 on Fortune’s 2026 rankings of America’s largest corporations. We ranked fourth in assets and fifth in the market value of our common stock among all U.S. banks at June 30, 2026.
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In first quarter 2026, we generated $5.3 billion of net income and diluted earnings per share (EPS) of $1.60, compared with $4.9 billion of net income and diluted EPS of $1.39 in the same period a year ago. Financial performance for first quarter 2026, compared with first quarter 2025, included the following:
Current wording
In second quarter 2026, we generated $6.4 billion of net income and diluted earnings per common share (EPS) of $2.00, compared with $5.5 billion of net income and diluted EPS of $1.60 in the same period a year ago. In the first half of 2026, we generated $11.7 billion of net income and diluted EPS of $3.60, compared with $10.4 billion of net income and diluted EPS of $2.98 in the same period a year ago. Financial performance for the second quarter and first half of 2026, compared with the same periods a year ago, included the following:
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•noninterest expense increased due to higher advertising and promotion expense, technology, telecommunications and equipment expense, and personnel expense;
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•noninterest expense increased due to higher technology, telecommunications and equipment expense, advertising and promotion expense, and personnel expense, partially offset by lower other noninterest expense;
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•average deposits increased driven by growth in interest-bearing deposits, partially offset by a decline in noninterest-bearing deposits.
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•average deposits increased driven by growth in interest-bearing deposits.
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We maintained a strong capital and liquidity position in first quarter 2026, which included the following:
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We maintained a strong capital and liquidity position in the first half of 2026, which included the following:
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•our Common Equity Tier 1 (CET1) ratio was 10.29% under the Standardized Approach (our binding framework), which continued to exceed the regulatory minimum and buffers of 8.50%;
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•our Common Equity Tier 1 (CET1) ratio was 10.26% under the Standardized Approach (our binding framework), which continued to exceed the regulatory minimum and buffers of 8.50%;
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•our total loss absorbing capacity (TLAC) as a percentage of total risk-weighted assets was 22.98%, compared with the regulatory minimum of 21.50%; and
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•our total loss absorbing capacity (TLAC) as a percentage of total risk-weighted assets was 22.81%, compared with the regulatory minimum of 21.50%; and
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•our liquidity coverage ratio (LCR) was 120%, which continued to exceed the regulatory minimum of 100%.
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•our liquidity coverage ratio (LCR) was 119%, which continued to exceed the regulatory minimum of 100%.
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•The allowance for credit losses (ACL) for loans of $14.4 billion at March 31, 2026, increased $37 million from December 31, 2025.
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•The allowance for credit losses (ACL) for loans of $14.4 billion at June 30, 2026, increased $70 million from December 31, 2025.
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•Our provision for credit losses for loans was $1.1 billion in first quarter 2026, compared with $925 million in the same period a year ago, and included an increase in the allowance reflecting higher commercial and industrial and auto loan balances, partially offset by a lower allowance for commercial real estate loans and lower credit card balances.
Current wording
•Our provision for credit losses for loans was $2.1 billion in the first half of 2026, compared with $1.9 billion in the same period a year ago, and included an increase in the allowance reflecting a higher allowance for commercial and industrial and auto loans driven by higher loan balances, partially offset by a lower allowance for commercial real estate loans.
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•The allowance coverage for total loans was 1.41% at March 31, 2026, compared with 1.45% at December 31, 2025, reflecting a decrease in the allowance for our commercial real estate portfolio driven by improved credit performance.
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•The allowance coverage for total loans was 1.40% at June 30, 2026, compared with 1.45% at December 31, 2025, reflecting a decrease in the allowance for our commercial real estate portfolio driven by improved credit performance.
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•Commercial portfolio net loan charge-offs were $360 million, or 24 basis points of average commercial loans, in first quarter 2026, compared with net loan charge-offs of $211 million, or 16 basis points, in the same period a year ago, driven by higher losses in our commercial and industrial portfolio, partially offset by lower losses in our commercial real estate portfolio.
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•Commercial portfolio net loan charge-offs were $156 million, or 10 basis points of average commercial loans, in second quarter 2026, compared with net loan charge-offs of $247 million, or 18 basis points, in the same period a year ago, driven by lower losses in our commercial and industrial and commercial real estate portfolios.
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•Consumer portfolio net loan charge-offs were $740 million, or 78 basis points of average consumer loans, in first quarter 2026, compared with net loan charge-offs of $798 million, or 86 basis points, in the same period a year ago, due to lower losses in our credit card portfolio.
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•Consumer portfolio net loan charge-offs were $720 million, or 74 basis points of average consumer loans, in second quarter 2026, compared with net loan charge-offs of $750 million, or 81 basis points, in the same period a year ago, due to lower losses in our credit card and other consumer portfolios, partially offset by higher losses in our auto portfolio.
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•Nonperforming assets (NPAs) of $8.8 billion at March 31, 2026, increased $265 million from December 31, 2025, driven by higher commercial and industrial nonaccrual loans, partially offset by lower commercial real estate nonaccrual loans. NPAs represented 0.86% of total loans at March 31, 2026.
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•Nonperforming assets (NPAs) of $7.9 billion at June 30, 2026, decreased $559 million from December 31, 2025, driven by lower commercial real estate nonaccrual loans. NPAs represented 0.77% of total loans at June 30, 2026.
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Wells Fargo net income for first quarter 2026 was $5.3 billion ($1.60 diluted EPS), compared with $4.9 billion ($1.39 diluted EPS) in the same period a year ago. Net income increased in first quarter 2026, compared with the same period a year ago, predominantly due to a $696 million increase in noninterest income and a $601 million increase in net interest income, partially offset by a $439 million increase in noninterest expense and a $203 million increase in provision for credit losses.
Current wording
Wells Fargo net income for second quarter 2026 was $6.4 billion ($2.00 diluted EPS), compared with $5.5 billion ($1.60 diluted EPS) in the same period a year ago. Net income increased in second quarter 2026, compared with the same period a year ago, predominantly due to a $1.2 billion increase in noninterest income and a $609 million increase in net interest income, partially offset by a $486 million increase in income tax expense and a $282 million increase in noninterest expense.
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Net interest income increased in first quarter 2026, compared with the same period a year ago, driven by lower deposit costs, higher loan and investment securities balances, improved results in our Corporate and Investment Banking Markets (Markets) business, and fixed rate asset repricing, partially offset by the impact of lower interest rates on floating rate assets and deposit mix changes.
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Net interest income increased in both the second quarter and first half of 2026, compared with the same periods a year ago, driven by lower average deposit costs, higher loan and investment securities balances, the impact of lower interest rates and balance sheet growth in our Corporate and Investment
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Net interest margin decreased in first quarter 2026, compared with the same period a year ago, driven by growth in lower-yielding assets in our Markets business as well as growth in interest-bearing deposits and other short-term borrowings.
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Net interest margin decreased in both the second quarter and first half of 2026, compared with the same periods a year ago, driven by growth in lower-yielding assets in our Markets business as well as growth in interest-bearing deposits.
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(2)Includes taxable-equivalent adjustments of $72 million and $77 million for the quarters ended March 31, 2026, and 2025, respectively, predominantly related to tax-exempt income on certain loans and securities.
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(2)Includes taxable-equivalent adjustments of $75 million and $77 million for the quarters ended June 30, 2026 and 2025, respectively, and $147 million and $154 million for the first half of 2026 and 2025, respectively, predominantly related to tax-exempt income on certain loans and securities.
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Investment banking fees increased due to higher equity underwriting fees and advisory fees, partially offset by lower debt underwriting fees.
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Investment banking fees increased due to higher debt and equity underwriting fees.
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Net gains from equity securities increased reflecting improved results from our venture capital investments, including higher realized and unrealized gains, and lower impairment losses.
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Net gains from equity securities increased reflecting improved results from our venture capital investments, including higher realized and unrealized gains, partially offset by higher impairment losses.
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Card fees increased driven byhigher revenue following our merchant services joint venture acquisition in April 2025, as well as higher debit card interchange income. Following the acquisition, the revenue from the merchant services business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income.
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Card fees increased driven by higher debit card interchange income, as well as higher revenue following our merchant services joint venture acquisition in April 2025. Following the acquisition, the revenue from the merchant services business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income.
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•lower mortgage servicing rights (MSR) valuation adjustments; and
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Mortgage banking decreased driven by lower servicing fees due to portfolio run-off and servicing sales, as well as favorable mortgage servicing rights (MSR) valuation adjustments in the first half of 2025, including for higher expected escrow balances.
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Net losses from debt securitiesde creased driven by the impact of a repositioning of our investment securities portfolio in first quarter 2025.
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Net gains (losses) from debt securities increased driven by the impact of a repositioning of our investment securities portfolio in first quarter 2025.
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•a $263 million gain on the sale ofthe non-agency portion ofour commercial mortgage third-party servicing business in first quarter 2025; and
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•a $263 million gain on the sale of the non-agency portion of our commercial mortgage third-party servicing business in first quarter 2025; and
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Technology, telecommunications and equipment expense increaseddue to higher software expense, as well as higher hardware depreciation expense and higher expense for the amortization of internally developed software.
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Technology, telecommunications and equipment expense increaseddue to higher software expense, as well as higher hardware expense and higher expense for the amortization of internally developed software.
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Advertising and promotion expense increased reflecting higher marketing campaign volume.
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Advertising and promotion expense increased reflecting higher investments in marketing driven by increased campaign volume.
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The increase in the effective income tax rate for first quarter 2026, compared with the same period a year ago, was driven by lower discrete tax benefits related to the resolution of prior period tax matters.
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The effective income tax rate increased in the second quarter and first half of 2026, compared with the same periods a year ago, driven by higher pre-tax income and lower discrete tax benefits related to the resolution of prior period tax matters.
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Table 6a: Consumer Banking and Lending – Income Statement and Selected Metrics (1)
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Table 6a: Consumer Banking and Lending – Income Statement and Selected Metrics
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(2)Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends.
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(1)Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends.
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(3)Efficiency ratio is segment noninterest expense divided by segment total revenue (net interest income and noninterest income).
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(2)Efficiency ratio is segment noninterest expense divided by segment total revenue (net interest income and noninterest income).
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(4)Digital and mobile active customers is based on the number of consumer and small business customers who have logged on via a digital or mobile device, respectively, in the prior 90 days. Digital active customers includes both online and mobile customers.
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(3)Digital and mobile active customers is based on the number of consumer and small business customers who have logged on via a digital or mobile device, respectively, in the prior 90 days. Digital active customers includes both online and mobile customers.
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(5)Deposit spread is (i) the internal funds transfer pricing credit on segment deposits minus interest paid to customers for segment deposits, divided by (ii) average segment deposits.
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(4)Deposit spread is (i) the internal funds transfer pricing credit on segment deposits minus interest paid to customers for segment deposits, divided by (ii) average segment deposits.
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(6)Reflects combined activity for consumer and small business customers.
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(5)Reflects combined activity for consumer and small business customers.
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(8)Excludes residential mortgage loans subserviced for others.
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(6)Excludes residential mortgage loans subserviced for others.
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(9)Excludes residential mortgage loans that are insured or guaranteed by U.S government agencies.
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(7)Excludes residential mortgage loans that are insured or guaranteed by U.S government agencies.
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(10)Delinquency balances exclude nonaccrual loans and loans held for sale.
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(8)Delinquency balances exclude nonaccrual loans and loans held for sale.
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•higher card fees driven byhigher revenue following our merchant services joint venture acquisition in April 2025, as well as higher debit card interchange income; and
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•higher card fees driven byhigher revenue following our merchant services joint venture acquisition in April 2025;
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•lower mortgage banking income driven by lower net servicing fees resulting from portfolio run-off and servicing sales and lower MSR valuation adjustments.
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•lower mortgage banking income driven by lower servicing fees due to portfolio run-off and servicing sales, as well as favorable MSR valuation adjustments in the first half of 2025 including adjustments for higher expected escrow balances.
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Provision for credit losses increased reflecting a higher change in allowance for Consumer, Small and Business Banking and auto loans driven by higher loan balances, partially offset by lower net charge-offs on credit card loans.
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Provision for credit losses increased reflecting a higher change in allowance for auto and credit card loans driven by higher loan balances, partially offset by lower net charge-offs on credit card and personal loans.
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Banking Markets (Markets) business, as well as higher interest-bearing commercial deposits, partially offset by the impact of lower interest rates on floating rate assets and lower noninterest-bearing deposits.
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Investment advisory and other asset-based fees increased driven by higher asset-based fees reflecting higher market valuations.
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Investment banking fees increased due to higher equity and debt underwriting fees.
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Provision for credit losses reflected a higher change in allowance for credit card and auto loans driven by higher loan balances, offset by lower net charge-offs on credit card and personal loans.
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•higher revenue-related compensation expense; and
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•the impact of the transfer of certain business customers from the Commercial Banking operating segment in third quarter 2025;
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•the impact of the transfer of certain business customers to the Consumer Banking and Lending operating segment in third quarter 2025; and
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Total deposits (average and period-end)increased driven by:
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•the impact of the transfer of certain business customers to the Consumer Banking and Lending operating segment in third quarter 2025.
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•higher personnel expense driven by higher revenue-related
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•higher investment banking fees driven by higher equity and debt underwriting fees;
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•higher professional and outside services expense on higher volume-related expenses;
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offices, and digitally through WellsTrade® and Intuitive Investor®.
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•lower net interest income driven by lower funding credits to the operating segments due to the impact of lower interest rates;
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media and the equipment, machinery, and parts manufacturing industries.
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Loans to our largest industry category, financials except banks, are generally secured and have features to help manage credit
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Equity Securities” section in our 2025 Form 10-K.
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“Pledged Assets” section of Note 15 (Pledged Assets and Collateral) to Financial Statements in this Report.
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and we expect the proceeds from securities issued in the future will be used for the same purposes. Depending on market conditions and our liquidity position, we may redeem or repurchase, and subsequently retire, our outstanding debt securities in privately negotiated or open market transactions, by tender offer, or otherwise.
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calculate the G-SIB capital surcharge. The Company does not expect a significant change to its current G-SIB capital surcharge based on an assessment of the proposed rule.
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•lower net servicing fees resulting from portfolio run-off and servicing sales, including the sale of the non-agency portion of our commercial mortgage third-party servicing business in first quarter 2025;
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•growth in consumer checking and savings deposits driven by seasonality.
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accounts receivable, inventory, and debt securities, as well as long-lived assets, such as equipment and other business assets.
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We access domestic and international capital markets for long-term funding through issuances of registered debt securities,
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repurchase, and subsequently retire, our outstanding debt securities in privately negotiated or open market transactions,