NEW YORK (Reuters) – Wells Fargo said on Tuesday that proposed U.S. capital rules could lead the bank to rejig its balance sheet.
In one of the first public comments from a major U.S. lender since the proposals were released last week, Wells Fargo said the new guidelines would alter its risk gauges for lending, trading and internal operations.
“The company expects a significant increase in its risk-weighted assets and a net increase in its capital requirements based on a preliminary assessment of the proposed rule,” the bank said in a regulatory filing.
If the norms are fully implemented, they would result in a hike in capital requirements for large banks by an aggregate 16% from current levels, with the largest and most complex firms being most affected, regulators said.
(Reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Matthew Lewis)
