Wells Fargo stress test: Severe downturn could lead to $10.7B loss


Wells Fargo stress test: Severe downturn could lead to $10.7B loss

Wells Fargo stress test: Severe downturn could lead to $10.7B loss

WS Journal-

Wells Fargo & Co. said Friday it projected an overall $10.7 billion loss if the U.S. economy were to go through a severe downturn during a 2 1/4 year period ending June 30, 2017.

The bank projected losses of $57.6 billion — $46.1 billion for loan losses, $9.6 billion in trading and counterparty credit, and $1.9 billion in investment securities.

Much of the losses would be offset by $46.9 billion in fee and loan revenue minus noninterest expense.

Wells Fargo is among 31 bank holding companies required by the Federal Reserve to conduct stress-test assessments twice annually. The assessments are designed to gauge the potential impact of a severe downturn on bank operations and capital levels as part of the Dodd-Frank financial reform law.


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One Response to “Wells Fargo stress test: Severe downturn could lead to $10.7B loss”

  1. crittermom says:

    Grab your shorts, everybody.
    Note that the banks have predicted a worse case scenario, & how large their losses could be?
    Oh, my! The “poor banks”.

    As I’ve seen predicted, I suspect this is their way of paving the runway to go for another bailout from the taxpayers. Us citizens who were screwed, & still suffer the consequences of their greedy actions.
    I believe they’re gearing up to come back for more blood from us turnips.

    If a new candidate for next years election comes into the picture who says no to another bailout (ie: hasn’t been bought out by the banks), suggesting the banks cut the obscene pay & bonuses to their CEO’s instead of requesting a bailout, they’ll probably get my vote.

    The top CEO’s probably make more salary in ONE DAY, than you owe on your home you may be struggling to keep. Jamie Dimon’s salary was $1.5 million a year, & he received a bonus of $18.5 million. For ONE YEAR. All the while heading just one of the banks that illegally took homes.
    Same story for the rest of the to CEO’s, who supposedly “didn’t know this behavior was going on” within their company.
    Soooo………..what are they getting paid the big bucks for?
    Uh, huh.

    Grab your shorts, or get vocal to those in power.


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