Companies: 10,652     total market cap: $140.583 T
โ‚ฌEUR๐Ÿ‡ช๐Ÿ‡บโ‚นINR๐Ÿ‡ฎ๐Ÿ‡ณยฃGBP๐Ÿ‡ฌ๐Ÿ‡ง$CAD๐Ÿ‡จ๐Ÿ‡ฆ$AUD๐Ÿ‡ฆ๐Ÿ‡บ$NZD๐Ÿ‡ณ๐Ÿ‡ฟ$HKD๐Ÿ‡ญ๐Ÿ‡ฐ$SGD๐Ÿ‡ธ๐Ÿ‡ฌ
Wells Fargo
WFC
#53
Rank
$270.87 B
Marketcap
๐Ÿ‡บ๐Ÿ‡ธ United States
Country
$86.29
Share price
-2.99%
Change (1 day)
10.12%
Change (1 year)
๐Ÿฆ Banks๐Ÿ’ณ Financial services
Categories
  1. Wells Fargo
  2. Quarterly Reports (10-Q)
  3. Financial Year FY2019 Q2

Wells Fargo - 10-Q quarterly report FY2019 Q2


Text size:
false--12-31Q220190000072971WELLS FARGO & COMPANY/MNDep Shr, 1/1000th int. per shr of 5.85% Fix-to-Float Non-Cum. Perpetual Class A Pref. Stock, Ser. QDep Shr, 1/1000th int. per shr of 6.625% Fix-to-Float Non-Cum. Perpetual Class A Pref. Stock, Ser. RGuarantee 5.80% Fix-to-Float Normal Wachovia Income Trust Securities of Wachovia Capital Trust IIIDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series NDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series ODep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series PDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series TDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series VDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series WDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series XDep Shares, 1/1000th int. per share of Non-Cumulative Perpetual Class A Preferred Stock, Series YThe Parent fully and unconditionally guarantees the payment of principal, interest, and any other amounts that may be due on securities that its 100% owned finance subsidiary, Wells Fargo Finance LLC, may issue.6300000000580000000010000001.6666023711.666602371900000000090000000005481811474548181147411000000000000.009170.003660.001850.006710.004050.001232046-12-312058-12-312027-12-312028-12-312048-12-312047-12-312045-01-012047-01-012019-01-012019-01-012018-01-012022-01-012046-12-312058-12-312029-12-312029-12-312048-12-312047-12-312045-01-012047-01-012019-01-012019-01-012019-01-012022-01-012955600000035950000000123100000000157400000000200000001469000000111800000024400000020200000011771000000163430000000the greater of three-month LIBOR plus 0.93% and 5.56975%three-month LIBOR plus 3.77%the greater of three-month LIBOR plus 0.93% and 5.56975%three-month LIBOR plus 3.77%0.0750.0520.051250.05250.05850.066250.0590.060.058750.060.057000.055000.056250.0750.0520.051250.05250.05850.066250.0590.060.058750.060.057000.055000.056250If issued, preference shares would be limited to one vote per share900557866106222027700.10500.10000.110.0950.0970.0990.1030.080.08000.09500.09000.10.0850.0870.0890.0930.070.070025000000000.01P0Y8M0.00101000000000001200000000551000000000.2500000729712019-01-012019-06-3000000729712019-07-240000072971wfc:Guaranteeof5.80FixedtoFloatingRateNormalWachoviaIncomeTrustSecuritiesofWachoviaCapitalTrustIIIMember2019-01-012019-06-300000072971wfc:A7.5NonCumulativePerpetualConvertibleClassAPreferredStockSeriesLMember2019-01-012019-06-300000072971wfc:A6.625FixedtoFloatingRateNonCumulativePerpetualClassAPreferredStockSeriesRMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesYMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesTMember2019-01-012019-06-300000072971wfc:GuaranteeofMediumTermNotesSeriesAdueOctober302028ofWellsFargoFinanceLLCMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesPMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesNMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesOMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesVMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesWMember2019-01-012019-06-300000072971wfc:A5.85FixedtoFloatingRateNonCumulativePerpetualClassAPreferredStockSeriesQMember2019-01-012019-06-300000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesXMember2019-01-012019-06-3000000729712018-04-012018-06-3000000729712019-04-012019-06-300000072971us-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:DebtSecuritiesMember2018-01-012018-06-3000000729712018-01-012018-06-300000072971us-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:DepositAccountMember2018-04-012018-06-300000072971us-gaap:FiduciaryAndTrustMember2019-04-012019-06-300000072971us-gaap:DepositAccountMember2019-04-012019-06-300000072971us-gaap:CreditAndDebitCardMember2019-01-012019-06-300000072971us-gaap:DepositAccountMember2018-01-012018-06-300000072971us-gaap:FinancialServiceOtherMember2018-01-012018-06-300000072971us-gaap:CreditAndDebitCardMember2018-01-012018-06-300000072971us-gaap:DepositAccountMember2019-01-012019-06-300000072971us-gaap:FinancialServiceOtherMember2018-04-012018-06-300000072971us-gaap:CreditAndDebitCardMember2018-04-012018-06-300000072971us-gaap:FiduciaryAndTrustMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMember2018-01-012018-06-300000072971us-gaap:FinancialServiceOtherMember2019-01-012019-06-300000072971us-gaap:CreditAndDebitCardMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMember2019-01-012019-06-3000000729712019-06-3000000729712018-12-310000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2018-12-310000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-06-300000072971wfc:FairValueOptionElectionMember2018-12-310000072971wfc:FairValueOptionElectionMember2019-06-300000072971us-gaap:ParentMember2019-01-012019-06-300000072971us-gaap:ParentMember2018-01-012018-06-300000072971us-gaap:AdditionalPaidInCapitalMember2018-01-012018-06-300000072971us-gaap:RetainedEarningsMember2018-01-012018-06-300000072971us-gaap:AdditionalPaidInCapitalMember2019-01-012019-06-300000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2019-01-012019-06-300000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2017-12-310000072971us-gaap:TreasuryStockMember2018-01-012018-06-300000072971us-gaap:NoncontrollingInterestMember2017-12-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310000072971us-gaap:TreasuryStockMember2018-06-300000072971us-gaap:NoncontrollingInterestMember2018-01-012018-06-300000072971us-gaap:ParentMember2017-12-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-06-300000072971us-gaap:TreasuryStockMember2017-12-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-300000072971wfc:AccountingStandardsUpdate201602andAccountingStandardsUpdate201708Memberus-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-3100000729712018-06-300000072971wfc:AccountingStandardsUpdateASU201601ASU201604ASU201616andASU201409Memberus-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310000072971us-gaap:AdditionalPaidInCapitalMember2018-12-310000072971us-gaap:RetainedEarningsMember2019-01-012019-06-300000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-01-012018-06-300000072971us-gaap:NoncontrollingInterestMember2018-12-310000072971us-gaap:NoncontrollingInterestMember2019-01-012019-06-300000072971us-gaap:TreasuryStockMember2018-12-310000072971us-gaap:AdditionalPaidInCapitalMember2018-06-300000072971us-gaap:ParentMember2018-06-300000072971us-gaap:RetainedEarningsMember2017-12-310000072971us-gaap:RetainedEarningsMember2018-12-310000072971us-gaap:NoncontrollingInterestMember2019-06-300000072971us-gaap:TreasuryStockMember2019-01-012019-06-300000072971us-gaap:TreasuryStockMember2019-06-300000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2018-01-012018-06-300000072971wfc:AccountingStandardsUpdateASU201601ASU201604ASU201616andASU201409Memberus-gaap:ParentMember2017-12-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000072971us-gaap:ParentMember2018-12-310000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2019-06-300000072971us-gaap:ParentMember2019-06-3000000729712017-12-310000072971us-gaap:AdditionalPaidInCapitalMember2019-06-300000072971wfc:AccountingStandardsUpdate201602andAccountingStandardsUpdate201708Member2018-12-310000072971wfc:AccountingStandardsUpdateASU201601ASU201604ASU201616andASU201409Memberus-gaap:RetainedEarningsMember2017-12-310000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2018-12-310000072971us-gaap:RetainedEarningsMember2019-06-300000072971wfc:AccountingStandardsUpdate201602andAccountingStandardsUpdate201708Memberus-gaap:RetainedEarningsMember2018-12-310000072971us-gaap:RetainedEarningsMember2018-06-300000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2018-06-300000072971us-gaap:AdditionalPaidInCapitalMember2017-12-310000072971wfc:AccountingStandardsUpdateASU201601ASU201604ASU201616andASU201409Member2017-12-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000072971wfc:AccountingStandardsUpdate201602andAccountingStandardsUpdate201708Memberus-gaap:ParentMember2018-12-310000072971us-gaap:NoncontrollingInterestMember2018-06-300000072971us-gaap:PreferredStockMember2018-03-310000072971us-gaap:PreferredStockMember2018-06-300000072971us-gaap:CommonStockMember2018-04-012018-06-300000072971us-gaap:CommonStockMember2019-04-012019-06-300000072971us-gaap:PreferredStockMember2018-04-012018-06-300000072971us-gaap:PreferredStockMember2019-06-300000072971us-gaap:CommonStockMember2019-03-310000072971us-gaap:PreferredStockMember2019-04-012019-06-300000072971us-gaap:CommonStockMember2019-06-300000072971us-gaap:CommonStockMember2018-03-310000072971us-gaap:PreferredStockMember2019-03-310000072971us-gaap:CommonStockMember2018-06-300000072971us-gaap:CommonStockMember2019-01-012019-06-300000072971us-gaap:PreferredStockMember2018-01-012018-06-300000072971us-gaap:CommonStockMember2017-12-310000072971us-gaap:PreferredStockMember2019-01-012019-06-300000072971us-gaap:PreferredStockMember2017-12-310000072971us-gaap:PreferredStockMember2018-12-310000072971us-gaap:CommonStockMember2018-01-012018-06-300000072971us-gaap:CommonStockMember2018-12-310000072971wfc:PrivateForwardRepurchaseTransactionMember2018-07-012018-09-300000072971wfc:PrivateForwardRepurchaseTransactionMember2018-06-300000072971us-gaap:NoncontrollingInterestMember2019-04-012019-06-300000072971us-gaap:ParentMember2018-04-012018-06-300000072971us-gaap:TreasuryStockMember2019-04-012019-06-300000072971us-gaap:TreasuryStockMember2018-04-012018-06-300000072971us-gaap:ParentMember2019-04-012019-06-300000072971us-gaap:RetainedEarningsMember2019-04-012019-06-300000072971us-gaap:NoncontrollingInterestMember2019-03-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-04-012018-06-3000000729712018-03-310000072971us-gaap:AdditionalPaidInCapitalMember2018-04-012018-06-300000072971us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300000072971us-gaap:RetainedEarningsMember2018-04-012018-06-300000072971us-gaap:NoncontrollingInterestMember2018-04-012018-06-300000072971us-gaap:NoncontrollingInterestMember2018-03-310000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2018-03-310000072971us-gaap:RetainedEarningsMember2019-03-310000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2018-04-012018-06-300000072971us-gaap:ParentMember2018-03-310000072971us-gaap:TreasuryStockMember2018-03-310000072971us-gaap:RetainedEarningsMember2018-03-310000072971us-gaap:TreasuryStockMember2019-03-310000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2019-04-012019-06-300000072971wfc:AccountingStandardsUpdate201816Member2019-01-012019-06-300000072971us-gaap:AccountingStandardsUpdate201708Member2019-01-012019-06-300000072971us-gaap:AccountingStandardsUpdate201602Member2019-01-012019-06-300000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000072971us-gaap:ParentMember2019-03-310000072971wfc:UnearnedEmployeeStockOptionPlanSharesMember2019-03-310000072971us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-03-3100000729712019-03-310000072971us-gaap:AdditionalPaidInCapitalMember2018-03-310000072971us-gaap:AdditionalPaidInCapitalMember2019-03-310000072971us-gaap:AccountingStandardsUpdate201602Member2019-01-010000072971us-gaap:AccountingStandardsUpdate201602Memberus-gaap:RetainedEarningsMember2019-01-010000072971wfc:PrivateForwardRepurchaseTransactionMember2019-06-300000072971us-gaap:AccountingStandardsUpdate201708Member2019-01-010000072971us-gaap:AccountingStandardsUpdate201708Memberus-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000072971us-gaap:AccountingStandardsUpdate201708Memberus-gaap:RetainedEarningsMember2019-01-010000072971wfc:InstitutionalRetirementTrustBusinessIRTMember2019-06-300000072971us-gaap:SubsequentEventMemberwfc:InstitutionalRetirementTrustBusinessIRTMember2019-07-012019-07-010000072971wfc:InstitutionalRetirementTrustBusinessIRTMember2019-07-012019-07-010000072971wfc:PendingAcquisitionMember2019-01-012019-06-300000072971wfc:ReserveBalanceforNonUSCentralBanksMember2018-12-310000072971wfc:ReserveBalanceforNonUSCentralBanksMember2019-06-300000072971wfc:VariableInterestEntitiesAndTransfersAccountedForAsSecuredBorrowingsCashAndCashEquivalentsMember2019-06-3000000729712018-01-012018-12-310000072971wfc:VariableInterestEntitiesAndTransfersAccountedForAsSecuredBorrowingsCashAndCashEquivalentsMember2018-12-310000072971wfc:RestrictedCashandCashEquivalentBrokerageCustomersMember2019-06-300000072971wfc:RestrictedCashandCashEquivalentBrokerageCustomersMember2018-12-310000072971wfc:BankSubsidiariesMember2019-06-300000072971us-gaap:SubsequentEventMember2019-07-232019-07-230000072971us-gaap:SubsequentEventMember2019-09-012019-09-010000072971wfc:NonbankSubsidiariesMember2019-06-300000072971wfc:HeldforTradingMember2019-06-300000072971wfc:HeldforTradingMember2018-12-310000072971wfc:HeldforTradingMember2018-01-012018-06-300000072971wfc:HeldforTradingMember2019-04-012019-06-300000072971wfc:HeldforTradingMember2019-01-012019-06-300000072971wfc:HeldforTradingMember2018-04-012018-06-300000072971us-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMember2019-01-012019-06-300000072971us-gaap:OtherDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:CorporateDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:CollateralizedLoanObligationsMember2019-01-012019-06-300000072971us-gaap:USTreasuryAndGovernmentMember2019-01-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMember2019-01-012019-06-300000072971us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-01-012019-06-300000072971us-gaap:MortgageBackedSecuritiesMember2019-01-012019-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMember2019-01-012019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:OtherThanTemporaryImpairmentOnSecuritiesWeIntendToSellMember2018-04-012018-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMember2018-04-012018-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:CreditRelatedToOtherThanTemporaryImpairmentMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:CreditRelatedToOtherThanTemporaryImpairmentMember2019-04-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:OtherThanTemporaryImpairmentOnSecuritiesWeIntendToSellMember2019-01-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:CreditRelatedToOtherThanTemporaryImpairmentMember2019-01-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMember2019-04-012019-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:CreditRelatedToOtherThanTemporaryImpairmentMember2018-04-012018-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:OtherThanTemporaryImpairmentOnSecuritiesWeIntendToSellMember2018-01-012018-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:OtherThanTemporaryImpairmentOnSecuritiesWeIntendToSellMember2019-04-012019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMember2018-01-012018-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingInvestmentGradeMemberus-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:CorporateDebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:CorporateDebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:CorporateDebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMember2018-03-310000072971us-gaap:DebtSecuritiesMember2017-12-310000072971us-gaap:DebtSecuritiesMember2019-03-310000072971us-gaap:DebtSecuritiesMember2018-06-300000072971us-gaap:DebtSecuritiesMember2019-06-300000072971us-gaap:DebtSecuritiesMember2018-12-310000072971wfc:UnratedInvestmentGradeSecuritiesMember2018-12-310000072971wfc:UnratedInvestmentGradeSecuritiesMember2019-06-300000072971us-gaap:CollateralizedDebtObligationsMember2019-06-300000072971us-gaap:CollateralizedDebtObligationsMember2018-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:NontaxablePreferredDebtSecuritiesMember2019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:NontaxablePreferredDebtSecuritiesMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:GeographicDistributionForeignMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:GeographicDistributionForeignMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:GeographicDistributionForeignMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:GeographicDistributionForeignMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:GeographicDistributionForeignMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionForeignMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:GeographicDistributionForeignMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:GeographicDistributionForeignMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:GeographicDistributionForeignMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMember2018-04-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMember2018-01-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMember2019-04-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMember2019-04-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMember2018-01-012018-06-300000072971wfc:InternationalMemberus-gaap:CommercialPortfolioSegmentMember2019-06-300000072971wfc:InternationalMemberus-gaap:CommercialPortfolioSegmentMember2018-12-310000072971us-gaap:CommercialLoanMember2019-06-300000072971us-gaap:CreditCardReceivablesMember2019-06-300000072971us-gaap:FirstMortgageMember2019-06-300000072971us-gaap:AutomobileLoanMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMember2019-06-300000072971us-gaap:ConstructionLoansMember2018-12-310000072971us-gaap:RealEstateLoanMember2018-12-310000072971us-gaap:FirstMortgageMember2018-12-310000072971us-gaap:ConsumerLoanMember2018-12-310000072971us-gaap:CreditCardReceivablesMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMember2019-06-300000072971us-gaap:ConsumerLoanMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMember2018-12-310000072971us-gaap:RealEstateLoanMember2019-06-300000072971us-gaap:SecondMortgageMember2019-06-300000072971us-gaap:AutomobileLoanMember2019-06-300000072971us-gaap:ConstructionLoansMember2019-06-300000072971us-gaap:CommercialLoanMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMember2018-12-310000072971us-gaap:SecondMortgageMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:SecondMortgageMember2018-04-012018-06-300000072971us-gaap:CommercialLoanMember2019-04-012019-06-300000072971us-gaap:RealEstateLoanMember2018-01-012018-06-300000072971us-gaap:ConstructionLoansMember2019-04-012019-06-300000072971us-gaap:CreditCardReceivablesMember2019-01-012019-06-300000072971us-gaap:ReserveForOffBalanceSheetActivitiesMember2018-06-300000072971us-gaap:AutomobileLoanMember2018-04-012018-06-300000072971us-gaap:AllowanceForLossesOnFinanceReceivablesMember2019-06-300000072971us-gaap:ConsumerLoanMember2018-04-012018-06-300000072971us-gaap:ConsumerLoanMember2018-01-012018-06-300000072971us-gaap:AutomobileLoanMember2019-01-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMember2018-01-012018-06-300000072971us-gaap:SecondMortgageMember2018-01-012018-06-300000072971us-gaap:AutomobileLoanMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMember2019-04-012019-06-300000072971us-gaap:FirstMortgageMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMember2019-04-012019-06-300000072971us-gaap:AllowanceForLossesOnFinanceReceivablesMember2018-06-300000072971us-gaap:CommercialLoanMember2018-04-012018-06-300000072971us-gaap:ReserveForOffBalanceSheetActivitiesMember2019-06-300000072971us-gaap:ConstructionLoansMember2018-01-012018-06-300000072971us-gaap:ConsumerLoanMember2019-01-012019-06-300000072971us-gaap:CreditCardReceivablesMember2018-04-012018-06-300000072971us-gaap:SecondMortgageMember2019-04-012019-06-300000072971us-gaap:AutomobileLoanMember2019-04-012019-06-300000072971us-gaap:FirstMortgageMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMember2019-04-012019-06-300000072971us-gaap:RealEstateLoanMember2019-01-012019-06-300000072971us-gaap:ConsumerLoanMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMember2019-01-012019-06-300000072971us-gaap:SecondMortgageMember2019-01-012019-06-300000072971us-gaap:FirstMortgageMember2019-01-012019-06-300000072971us-gaap:CommercialLoanMember2019-01-012019-06-300000072971us-gaap:CreditCardReceivablesMember2018-01-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMember2018-04-012018-06-300000072971us-gaap:CommercialLoanMember2018-01-012018-06-300000072971us-gaap:FirstMortgageMember2018-01-012018-06-300000072971us-gaap:ConstructionLoansMember2019-01-012019-06-300000072971us-gaap:ConstructionLoansMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMember2017-12-310000072971us-gaap:ConsumerPortfolioSegmentMember2017-12-310000072971us-gaap:CommercialPortfolioSegmentMember2019-03-310000072971us-gaap:ConsumerPortfolioSegmentMember2018-03-310000072971us-gaap:ConsumerPortfolioSegmentMember2018-06-300000072971us-gaap:CommercialPortfolioSegmentMember2018-06-300000072971us-gaap:ConsumerPortfolioSegmentMember2019-03-310000072971us-gaap:CommercialPortfolioSegmentMember2018-03-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PassMember2019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CriticizedMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan680Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan80Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:GovernmentGuaranteedMortgageLoansUponForeclosureReceivableMember2018-12-310000072971us-gaap:GovernmentGuaranteedMortgageLoansUponForeclosureReceivableMember2019-06-300000072971us-gaap:ResidentialRealEstateMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2018-12-310000072971us-gaap:ResidentialRealEstateMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan80Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan680Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan120Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV100.01120Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV80.01100Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV060Member2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan120Member2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan120Member2018-12-310000072971us-gaap:ResidentialMortgageMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoLTVCLTVavailableMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV100.01120Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV80.01100Member2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV60.0180Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV100.01120Member2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan120Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoLTVCLTVavailableMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoLTVCLTVavailableMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV060Member2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV060Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV100.01120Member2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan120Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoLTVCLTVavailableMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV80.01100Member2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV60.0180Member2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTVgreaterthan120Member2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV80.01100Member2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV80.01100Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV80.01100Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV60.0180Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV060Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV100.01120Member2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoLTVCLTVavailableMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV060Member2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV60.0180Member2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV60.0180Member2018-12-310000072971us-gaap:ResidentialMortgageMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoLTVCLTVavailableMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV100.01120Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV60.0180Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LTV060Member2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOlessthan600Member2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO760799Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO640679Member2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:NoFICOavailableMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO800ormoreMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO600639Member2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO680719Member2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICO720759Member2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:FICOnotrequiredMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2018-12-310000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A3089dayspastdueandstillaccruingMember2019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2018-12-310000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A120179DPDmemberMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2018-12-310000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A180plusDPDMember2018-12-310000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:A90119DaysPastDueMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-06-300000072971us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:RealEstateLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:AutomobileLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971wfc:TrialModificationsMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971wfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971wfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:SecondMortgageMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971wfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971wfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971wfc:TrialModificationsMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971wfc:TrialModificationsMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971wfc:TrialModificationsMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971wfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971wfc:TrialModificationsMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971wfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:SecondMortgageMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971wfc:TrialModificationsMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971wfc:TrialModificationsMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationtoprincipalMember2018-04-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-04-012019-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-04-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationsotherconcessionsMember2019-04-012019-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationtoprincipalMember2019-04-012019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:ContractualInterestRateReductionMember2019-04-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:ContractualInterestRateReductionMember2018-04-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationsotherconcessionsMember2018-04-012018-06-300000072971wfc:TroubleddebtrestructuringbalanceMember2018-12-310000072971wfc:LoansremodifiedMember2018-01-012018-06-300000072971wfc:LoansremodifiedMember2019-01-012019-06-300000072971wfc:LoansremodifiedMember2019-04-012019-06-300000072971wfc:TroubleddebtrestructuringbalanceMember2019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:FinancialAssetOtherThanFinancialAssetAcquiredWithCreditDeteriorationMemberwfc:ImpairedFinancingReceivableRecordedInvestmentMember2019-04-012019-06-300000072971wfc:LoansremodifiedMember2018-04-012018-06-300000072971us-gaap:PrincipalForgivenessMember2019-01-012019-06-300000072971us-gaap:PrincipalForgivenessMember2019-04-012019-06-300000072971us-gaap:PrincipalForgivenessMember2018-01-012018-06-300000072971us-gaap:PrincipalForgivenessMember2018-04-012018-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:SecondMortgageMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971wfc:TrialModificationsMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971wfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971wfc:TrialModificationsMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971wfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:CommercialLoanMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:CommercialLoanMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971wfc:TrialModificationsMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971wfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConsumerLoanMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:RealEstateLoanMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:ConstructionLoansMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971wfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971wfc:TrialModificationsMember2018-01-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:ConsumerLoanMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:FirstMortgageMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971wfc:TrialModificationsMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:AutomobileLoanMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:CreditCardReceivablesMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971wfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:FirstMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971wfc:CommercialLeaseFinancingReceivableMemberwfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971us-gaap:CommercialLoanMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2019-01-012019-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971us-gaap:AutomobileLoanMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationtoprincipalMember2018-01-012018-06-300000072971wfc:TrialModificationsMemberwfc:ModificationsotherconcessionsMember2018-01-012018-06-300000072971us-gaap:SecondMortgageMemberus-gaap:ContractualInterestRateReductionMember2018-01-012018-06-300000072971us-gaap:SecondMortgageMemberwfc:ModificationofrecordedinvestmentrelatedtointerestratereductionMember2018-01-012018-06-300000072971us-gaap:ConstructionLoansMemberwfc:ModificationtoprincipalMember2019-01-012019-06-300000072971us-gaap:ContractualInterestRateReductionMember2019-01-012019-06-300000072971wfc:ModificationsotherconcessionsMember2019-01-012019-06-300000072971wfc:PCILoansUPBMember2018-12-310000072971wfc:PCILoansUPBMember2019-06-300000072971us-gaap:EquipmentLeasedToOtherPartyMember2019-01-012019-06-300000072971us-gaap:EquipmentLeasedToOtherPartyMember2019-04-012019-06-300000072971us-gaap:AssetsLeasedToOthersMember2019-06-300000072971us-gaap:AssetsLeasedToOthersMember2019-01-012019-06-300000072971us-gaap:AssetsLeasedToOthersMember2019-04-012019-06-300000072971srt:MinimumMember2019-06-300000072971srt:MaximumMember2019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeMember2018-12-310000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeMember2019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeMember2019-01-012019-06-300000072971wfc:InvestmentinFederalReserveBankStockandOtherMemberwfc:NotHeldforTradingMember2019-06-300000072971wfc:TaxAdvantagedRenewableEnergyMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:MarketableEquitySecuritiesMemberwfc:HeldforTradingMember2019-06-300000072971wfc:NewMarketTaxCreditandOtherMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:MarketableEquitySecuritiesMemberwfc:HeldforTradingMember2018-12-310000072971wfc:MarketableEquitySecuritiesMemberwfc:NotHeldforTradingMember2019-06-300000072971wfc:NotHeldforTradingMember2019-06-300000072971wfc:NewMarketTaxCreditandOtherMemberwfc:NotHeldforTradingMember2019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:NotHeldforTradingMember2018-12-310000072971us-gaap:EquityMethodInvestmentsMemberwfc:NotHeldforTradingMember2019-06-300000072971us-gaap:PrivateEquityFundsMemberwfc:NotHeldforTradingMember2019-06-300000072971us-gaap:EquityMethodInvestmentsMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:NonmarketableEquitySecuritiesMemberwfc:NotHeldforTradingMember2019-06-300000072971us-gaap:OtherAggregatedInvestmentsMemberwfc:NotHeldforTradingMember2019-06-300000072971us-gaap:PrivateEquityFundsMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:LowIncomeHousingTaxCreditEquityMethodInvestmentsMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:MarketableEquitySecuritiesMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:TaxAdvantagedRenewableEnergyMemberwfc:NotHeldforTradingMember2019-06-300000072971wfc:InvestmentinFederalReserveBankStockandOtherMemberwfc:NotHeldforTradingMember2018-12-310000072971us-gaap:OtherAggregatedInvestmentsMemberwfc:NotHeldforTradingMember2018-12-310000072971wfc:LowIncomeHousingTaxCreditEquityMethodInvestmentsMemberwfc:NotHeldforTradingMember2019-06-300000072971wfc:NotHeldforTradingMember2018-12-310000072971wfc:NonmarketableEquitySecuritiesMemberwfc:ImpairmentinValueofAssetMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2018-04-012018-06-300000072971wfc:MarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeObservableTransactionsMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2019-01-012019-06-300000072971wfc:MarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:RealizedGainsonSaleMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeObservableTransactionsMember2019-01-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:ImpairmentinValueofAssetMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:RealizedGainsonSaleMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:ImpairmentinValueofAssetMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:OtherMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:OtherMember2019-04-012019-06-300000072971us-gaap:EquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeObservableTransactionsMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:RealizedGainsonSaleMember2019-01-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:OtherMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:ImpairmentinValueofAssetMember2019-01-012019-06-300000072971wfc:MarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2018-01-012018-06-300000072971us-gaap:EquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:RealizedGainsonSaleMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:OtherMember2018-01-012018-06-300000072971wfc:MarketableEquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2019-01-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMemberwfc:MeasurementAlternativeObservableTransactionsMember2019-04-012019-06-300000072971us-gaap:EquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2019-01-012019-06-300000072971us-gaap:EquitySecuritiesMemberwfc:GainLossonEquityInvestmentsMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CustomerRelationshipsMember2018-12-310000072971us-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:AssetsLeasedToOthersMember2018-12-310000072971us-gaap:CustomerRelationshipsMember2019-06-300000072971wfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971wfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971us-gaap:DerivativeMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberus-gaap:StructuredFinanceMember2019-06-300000072971wfc:NetAssetsMember2019-06-300000072971us-gaap:DerivativeMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:TotalExposureMemberwfc:InvestmentFundsMember2019-06-300000072971wfc:ServicingAssetsMemberwfc:TaxCreditStructuredFinanceMember2019-06-300000072971us-gaap:DerivativeMemberwfc:InvestmentFundsMember2019-06-300000072971us-gaap:DerivativeMember2019-06-300000072971us-gaap:DerivativeMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberus-gaap:StructuredFinanceMember2019-06-300000072971wfc:TotalExposureMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:ServicingAssetsMemberwfc:InvestmentFundsMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:NetAssetsMemberus-gaap:StructuredFinanceMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:ServicingAssetsMemberus-gaap:StructuredFinanceMember2019-06-300000072971us-gaap:StructuredFinanceMember2019-06-300000072971wfc:ServicingAssetsMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:InvestmentFundsMember2019-06-300000072971wfc:NetAssetsMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:ServicingAssetsMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:InvestmentFundsMember2019-06-300000072971us-gaap:DerivativeMemberus-gaap:StructuredFinanceMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:ServicingAssetsMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971us-gaap:DerivativeMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:ServicingAssetsMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971us-gaap:DerivativeMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberwfc:TaxCreditStructuredFinanceMember2019-06-300000072971wfc:ServicingAssetsMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:NetAssetsMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberwfc:InvestmentFundsMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:TaxCreditStructuredFinanceMember2019-06-300000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:TotalExposureMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:NetAssetsMemberwfc:InvestmentFundsMember2019-06-300000072971us-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:DebtAndEquityInterestsMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:DebtAndEquityInterestsMember2019-06-300000072971us-gaap:DerivativeMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:TotalExposureMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:TaxCreditStructuredFinanceMember2019-06-300000072971wfc:NetAssetsMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971wfc:TotalExposureMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:TotalExposureMember2019-06-300000072971wfc:TotalExposureMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:ServicingAssetsMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:TotalExposureMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:TotalExposureMemberwfc:TaxCreditStructuredFinanceMember2019-06-300000072971wfc:ServicingAssetsMember2019-06-300000072971wfc:TotalExposureMemberus-gaap:StructuredFinanceMember2019-06-300000072971us-gaap:DerivativeMemberwfc:TaxCreditStructuredFinanceMember2019-06-300000072971wfc:NetAssetsMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:ConformingResidentialMortgageLoanSecuritizationMember2019-06-300000072971wfc:NetAssetsMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971wfc:NetAssetsMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2019-06-300000072971wfc:NetAssetsMemberwfc:TaxCreditStructuredFinanceMember2019-06-300000072971wfc:ResidentialMortgageServicingMember2019-06-300000072971us-gaap:InterestOnlyStripMember2019-06-300000072971wfc:SeniorBondsMemberwfc:CommercialSecuritizationsMember2018-12-310000072971us-gaap:InterestOnlyStripMember2018-01-012018-12-310000072971wfc:SubordinatedBondsMemberwfc:CommercialSecuritizationsMember2018-01-012018-12-310000072971wfc:SeniorBondsMemberwfc:CommercialSecuritizationsMember2019-01-012019-06-300000072971wfc:SubordinatedBondsMemberwfc:CommercialSecuritizationsMember2019-06-300000072971wfc:ResidentialMortgageServicingMember2018-01-012018-12-310000072971wfc:SeniorBondsMemberwfc:CommercialSecuritizationsMember2019-06-300000072971wfc:ResidentialMortgageServicingMember2018-12-310000072971us-gaap:InterestOnlyStripMember2018-12-310000072971wfc:ResidentialMortgageServicingMember2019-01-012019-06-300000072971wfc:SubordinatedBondsMemberwfc:CommercialSecuritizationsMember2018-12-310000072971us-gaap:InterestOnlyStripMember2019-01-012019-06-300000072971wfc:SubordinatedBondsMemberwfc:CommercialSecuritizationsMember2019-01-012019-06-300000072971wfc:SeniorBondsMemberwfc:CommercialSecuritizationsMember2018-01-012018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FairValueInputsLevel2Member2018-01-012018-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FairValueInputsLevel2Member2018-01-012018-06-300000072971wfc:EquityInterestsMember2018-12-310000072971us-gaap:ResidentialMortgageMemberus-gaap:FairValueInputsLevel2Member2019-01-012019-06-300000072971wfc:CommercialMortgageServicingMember2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FairValueInputsLevel3Member2019-01-012019-06-300000072971us-gaap:ResidentialMortgageMember2018-04-012018-06-300000072971us-gaap:ResidentialMortgageMember2019-04-012019-06-300000072971wfc:TrustPreferredSecuritiesMember2019-06-300000072971wfc:CommercialMortgageServicingMember2018-12-310000072971us-gaap:FinancialSupportWaivedFeesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-01-012018-06-300000072971wfc:OtherFinancialAssetsMember2018-04-012018-06-300000072971us-gaap:FinancialSupportWaivedFeesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-01-012019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FairValueInputsLevel2Member2019-01-012019-06-300000072971us-gaap:FinancialSupportWaivedFeesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-04-012019-06-300000072971us-gaap:CommercialLoanMemberus-gaap:FairValueInputsLevel3Member2019-01-012019-06-300000072971us-gaap:ResidentialMortgageMember2019-01-012019-06-300000072971wfc:TrustPreferredSecuritiesMember2018-12-310000072971us-gaap:CommercialLoanMemberus-gaap:FairValueInputsLevel3Member2018-01-012018-06-300000072971wfc:TrustPreferredSecuritiesMemberus-gaap:PreferredStockMember2019-06-300000072971us-gaap:ResidentialMortgageMemberus-gaap:FairValueInputsLevel3Member2018-01-012018-06-300000072971wfc:EquityInterestsMember2019-06-300000072971wfc:ViesThatWeConsolidateRecourseMember2019-06-300000072971us-gaap:ResidentialMortgageMember2018-01-012018-06-300000072971us-gaap:FinancialSupportWaivedFeesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-04-012018-06-300000072971us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000072971wfc:VariableInterestEntitiesAndTransfersAccountedForAsSecuredBorrowingsMember2019-06-300000072971us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000072971wfc:TransfersAccountedForAsSecuredBorrowingsMember2018-12-310000072971wfc:TransfersAccountedForAsSecuredBorrowingsMember2019-06-300000072971wfc:VariableInterestEntitiesAndTransfersAccountedForAsSecuredBorrowingsMember2018-12-310000072971wfc:ResidentialMortgageServicingMember2018-04-012018-06-300000072971wfc:ResidentialMortgageServicingMember2019-04-012019-06-300000072971wfc:ResidentialMortgageServicingMember2018-01-012018-06-300000072971us-gaap:MortgagesMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-01-012018-06-300000072971us-gaap:MortgagesMember2018-04-012018-06-300000072971us-gaap:MortgagesMember2019-04-012019-06-300000072971us-gaap:MortgagesMember2019-01-012019-06-300000072971us-gaap:MortgagesMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-04-012018-06-300000072971us-gaap:MortgagesMember2018-01-012018-06-300000072971us-gaap:MortgagesMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-04-012018-06-300000072971us-gaap:MortgagesMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-04-012019-06-300000072971us-gaap:MortgagesMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-01-012018-06-300000072971us-gaap:MortgagesMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-01-012019-06-300000072971us-gaap:MortgagesMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-01-012019-06-300000072971us-gaap:MortgagesMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-04-012019-06-300000072971wfc:DebtAndEquityInterestsMember2018-12-310000072971us-gaap:DerivativeMemberus-gaap:StructuredFinanceMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:TotalExposureMemberwfc:TaxCreditStructuredFinanceMember2018-12-310000072971wfc:TotalExposureMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971us-gaap:DerivativeMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971wfc:NetAssetsMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:InvestmentFundsMember2018-12-310000072971wfc:NetAssetsMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971wfc:ServicingAssetsMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:NetAssetsMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:ServicingAssetsMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971wfc:ServicingAssetsMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971wfc:TotalExposureMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:NetAssetsMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:NetAssetsMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:ServicingAssetsMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:ServicingAssetsMember2018-12-310000072971us-gaap:StructuredFinanceMember2018-12-310000072971us-gaap:DerivativeMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberwfc:TaxCreditStructuredFinanceMember2018-12-310000072971us-gaap:DerivativeMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberus-gaap:StructuredFinanceMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberus-gaap:StructuredFinanceMember2018-12-310000072971us-gaap:DerivativeMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971us-gaap:DerivativeMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:ServicingAssetsMemberus-gaap:StructuredFinanceMember2018-12-310000072971wfc:NetAssetsMember2018-12-310000072971wfc:ServicingAssetsMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971us-gaap:DerivativeMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:ServicingAssetsMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971us-gaap:DerivativeMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:DerivativeMemberwfc:TaxCreditStructuredFinanceMember2018-12-310000072971wfc:TotalExposureMemberus-gaap:StructuredFinanceMember2018-12-310000072971us-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:ServicingAssetsMemberwfc:TaxCreditStructuredFinanceMember2018-12-310000072971wfc:TotalExposureMemberwfc:ConformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:NetAssetsMemberwfc:TaxCreditStructuredFinanceMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:TotalExposureMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:TaxCreditStructuredFinanceMember2018-12-310000072971wfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:OtherCommitmentsAndGuaranteesMemberwfc:TaxCreditStructuredFinanceMember2018-12-310000072971us-gaap:DerivativeMember2018-12-310000072971wfc:NetAssetsMemberus-gaap:StructuredFinanceMember2018-12-310000072971wfc:ServicingAssetsMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:NetAssetsMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:DebtAndEquityInterestsMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:TotalExposureMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971wfc:TotalExposureMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971wfc:TotalExposureMember2018-12-310000072971wfc:TotalExposureMemberwfc:NonconformingResidentialMortgageLoanSecuritizationMember2018-12-310000072971wfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971wfc:NetAssetsMemberwfc:CollateralizedDebtObligationsDebtSecuritiesMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialRealEstateLoansMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialandIndustrialLoansandLeasesMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:NonconformingResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialandIndustrialLoansandLeasesMember2018-12-310000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialRealEstateLoansMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:InvestmentFundsMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:NonconformingResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:NonconformingResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsAndVariableInterestEntityMember2018-12-310000072971wfc:SecuredBorrowingsMemberwfc:MunicipalTenderOptionBondSecuritizationsMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:SecuredBorrowingsMemberwfc:MunicipalTenderOptionBondSecuritizationsMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsAndVariableInterestEntityMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialRealEstateLoansMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsMemberwfc:MunicipalTenderOptionBondSecuritizationsMember2019-06-300000072971wfc:SecuredBorrowingsAndVariableInterestEntityMember2018-12-310000072971wfc:SecuredBorrowingsMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:OtherSecuritizationsAndTransactionsMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsMemberwfc:MunicipalTenderOptionBondSecuritizationsMember2018-12-310000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971wfc:SecuredBorrowingsMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialandIndustrialLoansandLeasesMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMemberwfc:SecuredBorrowingsMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialRealEstateLoansMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:NonconformingResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:InvestmentFundsMember2018-12-310000072971wfc:SecuredBorrowingsMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:CommercialandIndustrialLoansandLeasesMember2018-12-310000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:InvestmentFundsMember2019-06-300000072971us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberwfc:OtherSecuritizationsAndTransactionsMember2019-06-300000072971wfc:SecuredBorrowingsMember2018-12-310000072971wfc:SecuredBorrowingsAndVariableInterestEntityMember2019-06-300000072971wfc:ViesThatWeConsolidateRecourseMember2018-12-310000072971wfc:TrustPreferredSecuritiesMemberus-gaap:PreferredStockMember2018-12-310000072971wfc:OtherFinancialAssetsMember2018-01-012018-06-300000072971wfc:CarriedAtFairValueMember2019-04-012019-06-300000072971wfc:CarriedAtFairValueMember2018-03-310000072971wfc:CarriedAtFairValueMember2018-04-012018-06-300000072971wfc:CarriedAtFairValueMember2018-01-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:MortgageInterestRatesMember2018-01-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:DiscountRatesMember2018-04-012018-06-300000072971wfc:CarriedAtFairValueMember2017-12-310000072971wfc:CarriedAtFairValueMemberwfc:MortgageInterestRatesMember2019-01-012019-06-300000072971wfc:CarriedAtFairValueMemberwfc:DiscountRatesMember2019-01-012019-06-300000072971wfc:CarriedAtFairValueMember2018-06-300000072971wfc:CarriedAtFairValueMember2019-01-012019-06-300000072971wfc:CarriedAtFairValueMemberwfc:MortgageInterestRatesMember2018-04-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:ServicingAndForeclosureCostsMember2019-01-012019-06-300000072971wfc:CarriedAtFairValueMemberwfc:PrepaymentEstimatesAndOtherMember2019-01-012019-06-300000072971wfc:CarriedAtFairValueMemberwfc:ServicingAndForeclosureCostsMember2018-04-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:PrepaymentEstimatesAndOtherMember2018-04-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:PrepaymentEstimatesAndOtherMember2018-01-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:DiscountRatesMember2018-01-012018-06-300000072971wfc:CarriedAtFairValueMember2019-03-310000072971wfc:CarriedAtFairValueMember2019-06-300000072971wfc:CarriedAtFairValueMemberwfc:ServicingAndForeclosureCostsMember2018-01-012018-06-300000072971wfc:CarriedAtFairValueMemberwfc:DiscountRatesMember2019-04-012019-06-300000072971wfc:CarriedAtFairValueMemberwfc:ServicingAndForeclosureCostsMember2019-04-012019-06-300000072971wfc:CarriedAtFairValueMemberwfc:MortgageInterestRatesMember2019-04-012019-06-300000072971wfc:CarriedAtFairValueMember2018-12-310000072971wfc:CarriedAtFairValueMemberwfc:PrepaymentEstimatesAndOtherMember2019-04-012019-06-300000072971wfc:CommercialMortgageServicingMemberwfc:AmortizedMember2019-06-300000072971wfc:AmortizedMember2018-01-012018-06-300000072971wfc:AmortizedMember2018-06-300000072971wfc:AmortizedMember2018-03-310000072971wfc:AmortizedMember2019-06-300000072971wfc:AmortizedMember2018-04-012018-06-300000072971wfc:AmortizedMember2019-03-310000072971wfc:AmortizedMember2019-01-012019-06-300000072971wfc:AmortizedMember2019-04-012019-06-300000072971wfc:AmortizedMember2018-12-310000072971wfc:AmortizedMember2017-12-310000072971wfc:CommercialMortgageServicingMemberwfc:AmortizedMember2018-06-300000072971us-gaap:ServicingContractsMember2019-01-012019-06-300000072971us-gaap:ServicingContractsMember2019-06-300000072971us-gaap:FiniteLivedIntangibleAssetsMember2019-01-012019-06-300000072971us-gaap:CustomerRelationshipsMember2019-01-012019-06-300000072971us-gaap:CoreDepositsMember2018-12-310000072971us-gaap:ServicingContractsMember2018-12-310000072971us-gaap:CoreDepositsMember2019-06-300000072971wfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:WholesaleBankingMember2018-06-300000072971wfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:WealthAndInvestmentManagementMember2018-06-300000072971wfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:WealthAndInvestmentManagementMember2019-06-300000072971wfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:WealthAndInvestmentManagementMember2017-12-310000072971wfc:CommunityBankingMember2018-12-310000072971wfc:WholesaleBankingMember2018-12-310000072971wfc:WholesaleBankingMember2019-06-300000072971wfc:WealthAndInvestmentManagementMember2018-12-310000072971wfc:CommunityBankingMember2018-06-300000072971wfc:CommunityBankingMember2017-12-310000072971wfc:WholesaleBankingMember2017-12-310000072971wfc:CommunityBankingMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMember2019-06-300000072971us-gaap:EquitySecuritiesMember2018-12-310000072971us-gaap:EquitySecuritiesMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMember2018-12-310000072971wfc:NonAgencyMortgagebackedSecuritiesMember2019-06-300000072971wfc:NonAgencyMortgagebackedSecuritiesMember2018-12-310000072971us-gaap:Maturity30To90DaysMember2018-12-310000072971us-gaap:MaturityUpTo30DaysMember2018-12-310000072971us-gaap:Maturity30To90DaysMember2019-06-300000072971us-gaap:MaturityOver90DaysMember2018-12-310000072971us-gaap:MaturityOvernightMember2018-12-310000072971us-gaap:MaturityOvernightMember2019-06-300000072971us-gaap:MaturityUpTo30DaysMember2019-06-300000072971us-gaap:MaturityOver90DaysMember2019-06-300000072971us-gaap:CollateralPledgedMember2019-06-300000072971us-gaap:CollateralPledgedMember2018-12-310000072971us-gaap:ShortMember2018-12-310000072971wfc:FactoringGuaranteeMember2019-06-300000072971us-gaap:ObligationToRepurchaseReceivablesSoldMember2018-12-310000072971us-gaap:RiskLevelHighMember2019-06-300000072971us-gaap:StandbyLettersOfCreditMember2018-12-310000072971us-gaap:StandbyLettersOfCreditMember2019-06-300000072971us-gaap:ShortMember2019-06-300000072971us-gaap:GuaranteeTypeOtherMember2019-06-300000072971wfc:FactoringGuaranteeMember2018-12-310000072971us-gaap:ObligationToRepurchaseReceivablesSoldMember2019-06-300000072971us-gaap:StandbyLettersOfCreditMemberus-gaap:RiskLevelHighMember2019-06-300000072971us-gaap:IndemnificationGuaranteeMemberus-gaap:RiskLevelHighMember2018-12-310000072971us-gaap:RiskLevelHighMemberus-gaap:ShortMember2018-12-310000072971us-gaap:IndemnificationGuaranteeMember2018-12-310000072971us-gaap:IndemnificationGuaranteeMemberus-gaap:RiskLevelHighMember2019-06-300000072971us-gaap:GuaranteeTypeOtherMemberus-gaap:RiskLevelHighMember2018-12-310000072971us-gaap:IndemnificationGuaranteeMember2019-06-300000072971us-gaap:GuaranteeTypeOtherMember2018-12-310000072971us-gaap:RiskLevelHighMember2018-12-310000072971us-gaap:ObligationToRepurchaseReceivablesSoldMemberus-gaap:RiskLevelHighMember2018-12-310000072971wfc:FactoringGuaranteeMemberus-gaap:RiskLevelHighMember2018-12-310000072971us-gaap:GuaranteeTypeOtherMemberus-gaap:RiskLevelHighMember2019-06-300000072971us-gaap:ObligationToRepurchaseReceivablesSoldMemberus-gaap:RiskLevelHighMember2019-06-300000072971us-gaap:StandbyLettersOfCreditMemberus-gaap:RiskLevelHighMember2018-12-310000072971wfc:FactoringGuaranteeMemberus-gaap:RiskLevelHighMember2019-06-300000072971us-gaap:RiskLevelHighMemberus-gaap:ShortMember2019-06-300000072971wfc:TradingSecurities1Member2019-06-300000072971wfc:InvestmentSecuritiesMemberwfc:NotHeldforTradingMember2018-12-310000072971us-gaap:CollateralPledgedMemberwfc:TradingSecurities1Member2019-06-300000072971us-gaap:CollateralPledgedMemberwfc:TradingSecurities1Member2018-12-310000072971wfc:InvestmentSecuritiesMemberwfc:NotHeldforTradingMember2019-06-300000072971wfc:ThirdPartyClearingIndemnificationsMember2018-12-310000072971wfc:FedFundsSoldSecuritiesPurchasedUnderResaleAgreementsAndOtherShortTermInvestmentsMember2018-12-310000072971us-gaap:DebtSecuritiesMemberus-gaap:PurchaseCommitmentMember2019-06-300000072971us-gaap:EquitySecuritiesMemberus-gaap:PurchaseCommitmentMember2019-06-300000072971wfc:DirectPayLettersOfCreditMember2019-06-300000072971wfc:TradingSecurities1Member2018-12-310000072971wfc:WellsFargoFinanceLLCMemberwfc:OtherCommitmentsAndGuaranteesMember2019-06-300000072971wfc:FedFundsSoldSecuritiesPurchasedUnderResaleAgreementsAndOtherShortTermInvestmentsMember2019-06-300000072971wfc:WellsFargoFinanceLLCMemberwfc:OtherCommitmentsAndGuaranteesMember2018-12-310000072971us-gaap:LoansAndFinanceReceivablesMember2019-06-300000072971us-gaap:CollateralPledgedMemberus-gaap:OtherTradingMember2018-12-310000072971us-gaap:EquitySecuritiesMemberus-gaap:PurchaseCommitmentMember2018-12-310000072971wfc:DirectPayLettersOfCreditMember2018-12-310000072971wfc:ThirdPartyClearingIndemnificationsMember2019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:PurchaseCommitmentMember2018-12-310000072971us-gaap:CollateralPledgedMemberus-gaap:OtherTradingMember2019-06-300000072971us-gaap:LoansAndFinanceReceivablesMember2018-12-310000072971wfc:ATMAccessFeeLitigationMember2016-11-170000072971wfc:SalesPracticeMattersMember2002-05-012017-04-200000072971wfc:InterchangeLitigationMember2016-11-302016-11-300000072971wfc:InterchangeLitigationMember2012-07-130000072971wfc:RMBSTrusteePunitiveClassActionComplaintMember2016-05-310000072971wfc:LiabilityForContingentLitigationLossesMember2019-06-300000072971wfc:AutomobileLendingPracticesMember2019-06-300000072971wfc:SalesPracticeMattersMember2019-06-300000072971wfc:MortgageRelatedRegulatoryInvestigationsMember2018-08-012018-08-310000072971wfc:RMBSTrusteeLitigationCivilComplaintMember2017-07-310000072971wfc:RetailSalesPracticesCPIandGAPandMortgageinterestratelockmattersMember2018-12-012018-12-310000072971wfc:RMBSTrusteeLitigationMember2015-12-310000072971wfc:RMBSTrusteeLitigationMember2019-05-012019-05-310000072971wfc:SalesPracticeMattersMemberwfc:AllClassMembersMember2002-05-012017-04-200000072971wfc:SalesPracticeMattersMember2018-10-012018-10-310000072971wfc:MortgageInterestRateLockMember2019-06-300000072971wfc:AutomobileLendingPracticesMemberwfc:AllClassMembersMember2019-01-012019-06-300000072971wfc:MortgageRelatedRegulatoryInvestigationsMember2018-11-012018-11-300000072971wfc:SalesPracticeMattersMemberwfc:AllClassMembersMember2018-12-012018-12-310000072971wfc:RetailSalesPracticesCPIandGAPandMortgageinterestratelockmattersMember2018-04-200000072971wfc:InterchangeLitigationMember2012-07-132012-07-130000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971us-gaap:NondesignatedMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-06-300000072971us-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971wfc:CreditContractsProtectionPurchasedMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-12-310000072971us-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-12-310000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971wfc:CreditContractsProtectionSoldMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971us-gaap:NondesignatedMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971wfc:CreditContractsProtectionPurchasedMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971wfc:CreditContractsProtectionPurchasedMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-12-310000072971wfc:CreditContractsProtectionSoldMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-06-300000072971wfc:CreditContractsProtectionPurchasedMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-12-310000072971us-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971us-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-12-310000072971us-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-06-300000072971us-gaap:InterestRateContractMember2019-01-012019-06-300000072971wfc:CreditContractsProtectionSoldMember2019-06-300000072971us-gaap:CommodityContractMember2019-06-300000072971wfc:CreditContractsProtectionPurchasedMember2018-01-012018-12-310000072971wfc:CreditContractsProtectionSoldMember2018-12-310000072971wfc:CreditContractsProtectionPurchasedMember2018-12-310000072971us-gaap:CommodityContractMember2018-01-012018-12-310000072971us-gaap:InterestRateContractMember2019-06-300000072971us-gaap:EquityContractMember2019-06-300000072971us-gaap:ForeignExchangeContractMember2018-01-012018-12-310000072971us-gaap:EquityContractMember2018-12-310000072971wfc:CreditContractsProtectionSoldMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMember2018-12-310000072971us-gaap:CommodityContractMember2018-12-310000072971wfc:CreditContractsProtectionPurchasedMember2019-06-300000072971us-gaap:ForeignExchangeContractMember2019-06-300000072971us-gaap:InterestRateContractMember2018-12-310000072971us-gaap:CommodityContractMember2019-01-012019-06-300000072971us-gaap:EquityContractMember2018-01-012018-12-310000072971us-gaap:EquityContractMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMember2018-01-012018-12-310000072971wfc:CreditContractsProtectionPurchasedMember2019-01-012019-06-300000072971wfc:CreditContractsProtectionSoldMember2018-01-012018-12-310000072971us-gaap:ForeignExchangeContractMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:BasisSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:BasisSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971srt:MinimumMemberwfc:StructuredProductsMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:CreditDefaultSwapMember2018-01-012018-12-310000072971srt:MaximumMemberwfc:StructuredProductsMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:CorporateBondSecuritiesMember2019-01-012019-06-300000072971srt:MaximumMemberus-gaap:AssetBackedSecuritiesMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:CreditDefaultSwapMember2019-01-012019-06-300000072971srt:MaximumMemberus-gaap:OtherCreditDerivativesMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:CreditDefaultSwapMember2019-01-012019-06-300000072971srt:MaximumMemberus-gaap:CreditDefaultSwapMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:OtherCreditDerivativesMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:CorporateBondSecuritiesMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:AssetBackedSecuritiesMember2019-01-012019-06-300000072971srt:MaximumMemberus-gaap:CorporateBondSecuritiesMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:CorporateBondSecuritiesMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:AssetBackedSecuritiesMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:OtherCreditDerivativesMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:AssetBackedSecuritiesMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:OtherCreditDerivativesMember2019-01-012019-06-300000072971srt:MaximumMemberwfc:StructuredProductsMember2019-01-012019-06-300000072971srt:MinimumMemberwfc:StructuredProductsMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2019-04-012019-06-300000072971us-gaap:NondesignatedMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2019-01-012019-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMember2019-01-012019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971wfc:StructuredProductsMember2019-06-300000072971us-gaap:CorporateBondSecuritiesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971us-gaap:OtherCreditDerivativesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971us-gaap:OtherCreditDerivativesMember2019-06-300000072971us-gaap:OtherCreditDerivativesMember2018-12-310000072971us-gaap:CreditDefaultSwapMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971us-gaap:CorporateBondSecuritiesMember2018-12-310000072971us-gaap:CorporateBondSecuritiesMember2019-06-300000072971wfc:StructuredProductsMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971wfc:StructuredProductsMember2018-12-310000072971us-gaap:CreditDefaultSwapMember2018-12-310000072971us-gaap:CreditDefaultSwapMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971us-gaap:OtherCreditDerivativesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971us-gaap:CorporateBondSecuritiesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971us-gaap:CreditDefaultSwapMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971wfc:StructuredProductsMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:ExternalCreditRatingNonInvestmentGradeMember2018-12-310000072971us-gaap:DebtSecuritiesMemberwfc:ReDesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2018-12-310000072971us-gaap:DebtSecuritiesMemberwfc:ReDesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:LongTermDebtMemberwfc:ReDesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2018-12-310000072971us-gaap:DebtSecuritiesMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-12-310000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2019-06-300000072971us-gaap:LongTermDebtMemberwfc:ReDesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2019-06-300000072971us-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:LongTermDebtMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:LongTermDebtMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971wfc:MortgageloansheldforsaleMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:LongTermDebtMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2019-06-300000072971wfc:MortgageloansheldforsaleMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2018-12-310000072971us-gaap:DepositsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:LongTermDebtMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:LongTermDebtMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2018-12-310000072971us-gaap:DebtSecuritiesMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2018-12-310000072971wfc:MortgageloansheldforsaleMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2019-06-300000072971us-gaap:DepositsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:DepositsMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:DepositsMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2018-12-310000072971wfc:MortgageloansheldforsaleMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-06-300000072971us-gaap:LongTermDebtMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMember2018-04-012018-06-300000072971us-gaap:FairValueHedgingMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DepositsMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2018-04-012018-06-300000072971us-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DepositsMember2018-01-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-01-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2018-04-012018-06-300000072971us-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DepositsMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberwfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2019-04-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2019-04-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2019-04-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2019-04-012019-06-300000072971us-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:FairValueHedgingMemberwfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberwfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:DepositsMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DepositsMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-01-012019-06-300000072971us-gaap:FairValueHedgingMemberus-gaap:LoansAndFinanceReceivablesMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:LongTermDebtMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-04-012018-06-300000072971us-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberwfc:GainLossonTradingActivitiesMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMemberus-gaap:MortgageBankingMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberwfc:CustomerAccommodationTradingAndOtherDerivativesMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberwfc:GainLossonEquityInvestmentsMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:NondesignatedMember2018-04-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:NondesignatedMemberwfc:OtherNoninterestIncomeMemberwfc:EconomicHedgesMember2018-01-012018-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:DebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberwfc:NonmarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberwfc:MarketableEquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:EquitySecuritiesMemberwfc:FairValueMeasurementsFromBrokersMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMemberwfc:FairValueMeasurementsFromThirdPartyPricingServicesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2019-06-300000072971us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:IncludingNAVInvestmentsMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:CommodityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:IncludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesOtherMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherTradingDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:CommodityContractMemberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedAutoLoansMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherSecuritiesSoldNotYetPurchasedMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MarketableEquitySecuritiesMemberwfc:ExcludingNAVInvestmentsMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsRecurringMemberus-gaap:HomeEquityMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedDebtObligationsMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedDebtObligationsMember2018-12-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:EquitySecuritiesMember2019-04-012019-06-300000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-04-012019-06-300000072971wfc:LoansHeldForSaleMember2019-04-012019-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-04-012019-06-300000072971wfc:MortgageloansheldforsaleMember2019-04-012019-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971wfc:MortgageServicingRightsMember2019-04-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMember2019-04-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2019-04-012019-06-300000072971us-gaap:OtherLiabilitiesMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:LoansReceivableMember2019-04-012019-06-300000072971us-gaap:DerivativeMember2019-04-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2019-04-012019-06-300000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2019-04-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2019-04-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2019-04-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2019-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-06-300000072971wfc:MortgageloansheldforsaleMember2019-03-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:LoansReceivableMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2019-03-310000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-06-300000072971us-gaap:EquitySecuritiesMember2019-03-310000072971us-gaap:OtherLiabilitiesMember2019-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:DerivativeMember2019-06-300000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971wfc:NonmarketableEquitySecuritiesMember2019-06-300000072971us-gaap:LoansReceivableMember2019-03-310000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:DerivativeMember2019-03-310000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2019-03-310000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-03-310000072971wfc:LoansHeldForSaleMember2019-03-310000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2019-06-300000072971wfc:MortgageloansheldforsaleMember2019-06-300000072971us-gaap:OtherLiabilitiesMember2019-03-310000072971wfc:MortgageServicingRightsMember2019-03-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2019-06-300000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2019-03-310000072971wfc:NonmarketableEquitySecuritiesMember2019-03-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2019-06-300000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2019-03-310000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-03-310000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2019-03-310000072971wfc:LoansHeldForSaleMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2019-03-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2019-03-310000072971wfc:MortgageServicingRightsMember2019-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-03-310000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-03-310000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2019-06-300000072971us-gaap:LoansReceivableMember2018-06-300000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971wfc:MortgageloansheldforsaleMember2018-04-012018-06-300000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2018-04-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMember2018-04-012018-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2018-04-012018-06-300000072971us-gaap:DerivativeMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971us-gaap:LoansReceivableMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2018-04-012018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971wfc:LoansHeldForSaleMember2018-04-012018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-03-310000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971wfc:MortgageServicingRightsMember2018-06-300000072971us-gaap:DerivativeMember2018-06-300000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2018-04-012018-06-300000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-03-310000072971wfc:MortgageloansheldforsaleMember2018-03-310000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:EquitySecuritiesMember2018-04-012018-06-300000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971wfc:LoansHeldForSaleMember2018-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971us-gaap:OtherLiabilitiesMember2018-03-310000072971us-gaap:DerivativeMember2018-03-310000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2018-03-310000072971us-gaap:OtherLiabilitiesMember2018-04-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2018-04-012018-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2018-04-012018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2018-03-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971wfc:NonmarketableEquitySecuritiesMember2018-03-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2018-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2018-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971wfc:LoansHeldForSaleMember2018-03-310000072971us-gaap:LoansReceivableMember2018-03-310000072971us-gaap:EquitySecuritiesMember2018-03-310000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2018-06-300000072971wfc:MortgageServicingRightsMember2018-04-012018-06-300000072971us-gaap:EquitySecuritiesMember2018-06-300000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971wfc:MortgageServicingRightsMember2018-03-310000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-06-300000072971us-gaap:OtherLiabilitiesMember2018-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2018-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2018-03-310000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2018-03-310000072971wfc:NonmarketableEquitySecuritiesMember2018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2018-03-310000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-03-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2018-03-310000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2018-06-300000072971wfc:MortgageloansheldforsaleMember2018-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2018-06-300000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2018-03-310000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2018-03-310000072971srt:MaximumMemberwfc:NonModifiedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberwfc:NonModifiedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberwfc:NonModifiedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberwfc:NonModifiedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputCreditSpreadMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputFalloutFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971wfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-01-012018-12-310000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputConversionFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputCreditSpreadMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MaximumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberwfc:ValuationTechniqueVendorPricingMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:ValuationTechniqueVendorPricingMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputFalloutFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-01-012018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-01-012018-12-310000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCorrelationFactorMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MinimumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberwfc:ValuationTechniqueVendorPricingMember2018-12-310000072971srt:MinimumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputConversionFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-01-012018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputCreditSpreadMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCorrelationFactorMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971srt:MaximumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputFalloutFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCorrelationFactorMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberwfc:ValuationTechniqueVendorPricingMember2018-12-310000072971srt:MinimumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2018-12-310000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputConversionFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2018-12-310000072971us-gaap:OtherLiabilitiesMember2018-12-310000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2019-01-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2019-01-012019-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:OtherLiabilitiesMember2019-01-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2019-01-012019-06-300000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2019-01-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:LoansReceivableMember2019-01-012019-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2018-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:DerivativeMember2019-01-012019-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2018-12-310000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2018-12-310000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMember2019-01-012019-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-12-310000072971wfc:MortgageloansheldforsaleMember2019-01-012019-06-300000072971us-gaap:LoansReceivableMember2018-12-310000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2018-12-310000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:EquitySecuritiesMember2019-01-012019-06-300000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2019-01-012019-06-300000072971wfc:NonmarketableEquitySecuritiesMember2018-12-310000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2019-01-012019-06-300000072971wfc:LoansHeldForSaleMember2019-01-012019-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971wfc:MortgageloansheldforsaleMember2018-12-310000072971wfc:MortgageServicingRightsMember2019-01-012019-06-300000072971wfc:MortgageServicingRightsMember2018-12-310000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2018-12-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2019-01-012019-06-300000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2018-12-310000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-12-310000072971us-gaap:DerivativeMember2018-12-310000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2018-12-310000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-12-310000072971wfc:LoansHeldForSaleMember2018-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2018-01-012018-06-300000072971us-gaap:DerivativeMember2018-01-012018-06-300000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:EquitySecuritiesMember2018-01-012018-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:OtherLiabilitiesMember2018-01-012018-06-300000072971wfc:MortgageServicingRightsMember2018-01-012018-06-300000072971us-gaap:LoansReceivableMember2018-01-012018-06-300000072971wfc:NonmarketableEquitySecuritiesMember2018-01-012018-06-300000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971wfc:LoansHeldForSaleMember2018-01-012018-06-300000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2018-01-012018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2018-01-012018-06-300000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2018-01-012018-06-300000072971wfc:MortgageloansheldforsaleMember2018-01-012018-06-300000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2018-01-012018-06-300000072971srt:MinimumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971wfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MaximumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputFalloutFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberwfc:ValuationTechniqueVendorPricingMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MinimumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-01-012019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:ValuationTechniqueVendorPricingMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputFalloutFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputConversionFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-01-012019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputConversionFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-01-012019-06-300000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCorrelationFactorMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputConversionFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCorrelationFactorMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCostofServicePerLoanMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MinimumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-01-012019-06-300000072971srt:WeightedAverageMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberwfc:ValuationTechniqueVendorPricingMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputFalloutFactorMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:GovernmentHealthcareAndOtherRevenueBondsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedLoanObligationsMemberwfc:ValuationTechniqueVendorPricingMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MaximumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputWeightedAverageLifeMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-01-012019-06-300000072971srt:MaximumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputCreditSpreadMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputCreditSpreadMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MinimumMemberus-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:OtherCommercialAndConsumerMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:DiversifiedPaymentRightsMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MinimumMemberus-gaap:CreditRiskContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputCreditSpreadMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:MaximumMemberus-gaap:EquityContractMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputCorrelationFactorMemberus-gaap:ValuationTechniqueOptionPricingModelMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputComparabilityAdjustmentMemberus-gaap:MarketApproachValuationTechniqueMember2019-06-300000072971us-gaap:CommodityContractMemberus-gaap:DerivativeMember2017-12-310000072971wfc:OtherTradingDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2017-12-310000072971us-gaap:AssetBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:DebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2017-12-310000072971us-gaap:CorporateDebtSecuritiesMemberwfc:TradingDebtSecuritiesMember2017-12-310000072971us-gaap:DebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:InterestRateContractMemberus-gaap:DerivativeMember2017-12-310000072971us-gaap:ForeignExchangeContractMemberus-gaap:DerivativeMember2017-12-310000072971us-gaap:CollateralizedLoanObligationsMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:CreditRiskContractMemberus-gaap:DerivativeMember2017-12-310000072971us-gaap:DerivativeMember2017-12-310000072971wfc:NonmarketableEquitySecuritiesMember2017-12-310000072971us-gaap:MortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:USStatesAndPoliticalSubdivisionsMemberwfc:TradingDebtSecuritiesMember2017-12-310000072971us-gaap:CollateralizedSecuritiesOtherMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971wfc:LoansHeldForSaleMember2017-12-310000072971us-gaap:CollateralizedLoanObligationsMemberwfc:TradingDebtSecuritiesMember2017-12-310000072971us-gaap:EquitySecuritiesMember2017-12-310000072971wfc:MortgageloansheldforsaleMember2017-12-310000072971us-gaap:OtherLiabilitiesMember2017-12-310000072971us-gaap:EquityContractMemberus-gaap:DerivativeMember2017-12-310000072971wfc:MortgageServicingRightsMember2017-12-310000072971us-gaap:LoansReceivableMember2017-12-310000072971us-gaap:CorporateDebtSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AvailableforsaleSecuritiesMember2017-12-310000072971srt:MinimumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputInitialvalueServicingMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputInitialvalueServicingMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputInitialvalueServicingMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputInitialvalueServicingMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputInitialvalueServicingMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberwfc:DerivativeLoanCommitmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberwfc:MeasurementInputInitialvalueServicingMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2019-06-300000072971us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2018-12-310000072971us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:LoansExcludingGovernmentInsuredOrGuaranteedLoansMember2018-12-310000072971us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2019-06-300000072971srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:WeightedAverageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDefaultRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2018-12-310000072971srt:MaximumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971srt:MinimumMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2018-12-310000072971us-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberwfc:NonmarketableEquitySecuritiesMember2019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2018-12-310000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2019-06-300000072971us-gaap:FairValueMeasurementsNonrecurringMember2018-01-012018-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2019-01-012019-06-300000072971us-gaap:FairValueMeasurementsNonrecurringMember2019-01-012019-06-300000072971us-gaap:CommercialPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2018-01-012018-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2019-01-012019-06-300000072971us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2018-01-012018-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000072971wfc:FinanceLeaseFinancingReceivableMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000072971wfc:FinanceLeaseFinancingReceivableMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000072971us-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000072971us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000072971us-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000072971us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000072971us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000072971us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000072971us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000072971us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:FairValueOptionElectionMember2019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:FairValueOptionElectionMember2018-12-310000072971us-gaap:LoansReceivableMemberwfc:FairValueOptionElectionMember2019-06-300000072971us-gaap:LoansReceivableMemberwfc:FairValueOptionElectionMember2018-12-310000072971wfc:LoansHeldForSaleMemberwfc:FairValueOptionElectionMember2019-06-300000072971wfc:LoansHeldForSaleMemberwfc:FairValueOptionElectionMember2018-12-310000072971wfc:MortgageloansheldforsaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:LoansHeldForSaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971us-gaap:LoansReceivableMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971us-gaap:LoansReceivableMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:OtherInterestsHeldMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971us-gaap:LoansReceivableMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971us-gaap:LoansReceivableMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971us-gaap:LoansReceivableMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971us-gaap:LoansReceivableMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:OtherInterestsHeldMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:OtherInterestsHeldMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:OtherInterestsHeldMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971us-gaap:LoansReceivableMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:OtherInterestsHeldMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:OtherInterestsHeldMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:OtherInterestsHeldMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:LoansHeldForSaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:OtherInterestsHeldMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971us-gaap:LoansReceivableMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:LoansHeldForSaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971us-gaap:LoansReceivableMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:LoansHeldForSaleMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971us-gaap:LoansReceivableMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:OtherInterestsHeldMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:LoansHeldForSaleMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:OtherInterestsHeldMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971us-gaap:LoansReceivableMemberwfc:OtherNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:OtherInterestsHeldMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971us-gaap:LoansReceivableMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:OtherInterestsHeldMemberwfc:NetGainsLossesFromTradingActivitiesMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:LoansHeldForSaleMemberwfc:MortgageBankingNoninterestIncomeMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:MortgageloansheldforsaleMemberwfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:FairValueOptionElectionMember2018-04-012018-06-300000072971wfc:FairValueOptionElectionMember2019-04-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:LoansHeldForSaleMemberwfc:FairValueOptionElectionMember2018-01-012018-06-300000072971wfc:FairValueOptionElectionMember2019-01-012019-06-300000072971wfc:SeriesSPreferredStockMember2018-12-310000072971wfc:SeriesQPreferredStockMember2019-06-300000072971wfc:SeriesRPreferredStockMember2018-12-310000072971wfc:SeriesVPreferredStockMember2018-12-310000072971wfc:DividendEqualizationPreferredMember2019-06-300000072971wfc:SeriesTPreferredStockMember2018-12-310000072971wfc:SeriesNPreferredStockMember2018-12-310000072971wfc:SeriesUPreferredStockMember2019-06-300000072971wfc:SeriesIPreferredStockMember2018-12-310000072971wfc:SeriesNPreferredStockMember2019-06-300000072971wfc:SeriesIPreferredStockMember2019-06-300000072971wfc:SeriesPPreferredStockMember2019-06-300000072971wfc:SeriesLPreferredStockMember2018-12-310000072971wfc:SeriesVPreferredStockMember2019-06-300000072971wfc:SeriesXPreferredStockMember2018-12-310000072971wfc:SeriesTPreferredStockMember2019-06-300000072971wfc:SeriesPPreferredStockMember2018-12-310000072971wfc:SeriesQPreferredStockMember2018-12-310000072971wfc:SeriesLPreferredStockMember2019-06-300000072971wfc:SeriesSPreferredStockMember2019-06-300000072971wfc:SeriesUPreferredStockMember2018-12-310000072971wfc:SeriesRPreferredStockMember2019-06-300000072971wfc:SeriesKPreferredStockMember2018-12-310000072971wfc:SeriesOPreferredStockMember2018-12-310000072971wfc:SeriesKPreferredStockMember2019-06-300000072971wfc:SeriesXPreferredStockMember2019-06-300000072971wfc:DividendEqualizationPreferredMember2018-12-310000072971wfc:SeriesYPreferredStockMember2018-12-310000072971wfc:SeriesWPreferredStockMember2018-12-310000072971wfc:SeriesYPreferredStockMember2019-06-300000072971wfc:SeriesOPreferredStockMember2019-06-300000072971wfc:SeriesWPreferredStockMember2019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2015Member2018-12-310000072971wfc:EmployeeStockOwnershipPlanPreferredStock2015Member2019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2013Member2019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2013Member2018-12-310000072971wfc:EmployeeStockOwnershipPlanPreferredStock2016Member2019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2014Member2019-01-012019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2018Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2012Member2018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2010Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2011Member2018-12-310000072971wfc:EmployeeStockOwnershipPlanPreferredStock2016Member2018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2014Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2014Member2019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2018Member2019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2012Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2014Member2018-12-310000072971wfc:EmployeeStockOwnershipPlanPreferredStock2010Member2019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2013Member2019-01-012019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2013Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2010Member2018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2011Member2019-01-012019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2010Member2019-01-012019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2016Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2018Member2018-12-310000072971wfc:EmployeeStockOwnershipPlanPreferredStock2011Member2019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2017Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2017Member2018-12-310000072971wfc:EmployeeStockOwnershipPlanPreferredStock2012Member2019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2015Member2019-01-012019-06-300000072971wfc:EmployeeStockOwnershipPlanPreferredStock2017Member2019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2017Member2019-01-012019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2016Member2019-01-012019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2015Member2019-01-012019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2018Member2019-01-012019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2012Member2019-01-012019-06-300000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2011Member2019-01-012019-06-300000072971wfc:PreferredStockVotingRightsMember2019-06-300000072971wfc:PreferredStockNoVotingRightsMember2019-06-300000072971wfc:PreferredStockVotingRightsMember2019-01-012019-06-300000072971us-gaap:StockCompensationPlanMemberus-gaap:ConvertiblePreferredStockMember2019-06-300000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2016Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2014Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2013Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2015Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2010Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2011Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2018Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2015Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2017Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2018Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2012Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2011Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2010Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2014Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2013Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2016Member2018-01-012018-12-310000072971srt:MaximumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2012Member2018-01-012018-12-310000072971srt:MinimumMemberwfc:EmployeeStockOwnershipPlanPreferredStock2017Member2018-01-012018-12-310000072971wfc:SeriesYPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesRPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesUPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesUPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesIPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesPPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesVPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesNPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesQPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesYPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesNPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesSPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesWPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesLPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesOPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesLPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesIPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesXPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesXPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesWPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesVPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesPPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesKPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesOPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesSPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesRPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesQPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesKPreferredStockMember2019-01-012019-06-300000072971wfc:SeriesTPreferredStockMember2018-01-012018-12-310000072971wfc:SeriesTPreferredStockMember2019-01-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherTrustandInvestmentFeeMember2019-04-012019-06-300000072971wfc:TrustFeeMember2018-01-012018-06-300000072971us-gaap:AssetManagement1Memberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMember2019-01-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherTrustandInvestmentFeeMember2018-01-012018-06-300000072971wfc:TrustFeeMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:TrustFeeMember2019-01-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:TrustFeeMember2018-04-012018-06-300000072971us-gaap:AssetManagement1Memberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:InvestmentManagementFeeMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:TrustFeeMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentManagementFeeMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:AssetManagement1Member2019-04-012019-06-300000072971wfc:TrustFeeMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:InvestmentManagementFeeMember2018-04-012018-06-300000072971us-gaap:AssetManagement1Memberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMember2019-04-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherTrustandInvestmentFeeMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:AssetManagement1Member2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:TrustFeeMember2018-01-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:AssetManagement1Member2018-01-012018-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:AssetManagement1Member2018-04-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:TrustFeeMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:TrustFeeMember2019-04-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:TrustFeeMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:TrustFeeMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentManagementFeeMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentManagementFeeMember2019-04-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherTrustandInvestmentFeeMember2019-01-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentManagementFeeMember2019-01-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:AssetManagement1Member2019-01-012019-06-300000072971wfc:TrustFeeMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:TrustFeeMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:AssetManagement1Member2019-04-012019-06-300000072971wfc:InvestmentManagementFeeMember2018-01-012018-06-300000072971wfc:TrustFeeMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:InvestmentManagementFeeMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:TrustFeeMember2019-04-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:AssetManagement1Memberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:OtherTrustandInvestmentFeeMember2018-04-012018-06-300000072971wfc:TrustFeeMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:AssetManagement1Memberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:AssetManagement1Memberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:TrustFeeMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:TrustFeeMember2019-01-012019-06-300000072971wfc:TrustFeeMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:AssetManagement1Member2019-01-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:AssetManagement1Member2018-04-012018-06-300000072971wfc:InvestmentManagementFeeMember2019-04-012019-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:InvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMember2018-01-012018-06-300000072971wfc:OtherTrustandInvestmentFeeMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:TrustFeeMember2018-04-012018-06-300000072971wfc:TrailingCommissionMember2018-04-012018-06-300000072971wfc:CreditCardRewardsandRebatesMember2019-01-012019-06-300000072971wfc:CreditCardRewardsandRebatesMember2018-01-012018-06-300000072971wfc:TrailingCommissionMember2019-04-012019-06-300000072971wfc:CreditCardRewardsandRebatesMember2018-04-012018-06-300000072971wfc:TrailingCommissionMember2019-01-012019-06-300000072971wfc:CreditCardRewardsandRebatesMember2019-04-012019-06-300000072971wfc:TrailingCommissionMember2018-01-012018-06-300000072971us-gaap:DepositAccountMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:AllotherfeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMember2018-01-012018-06-300000072971wfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:CashnetworkfeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:WiretransferandotherremittancefeesMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditAndDebitCardMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:AllotherfeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2019-04-012019-06-300000072971wfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMember2018-04-012018-06-300000072971wfc:AllotherfeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FinancialServiceOtherMember2018-01-012018-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:DepositAccountMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:AllotherfeesMember2019-01-012019-06-300000072971wfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:LendingRelatedChargesandFeesMember2019-01-012019-06-300000072971us-gaap:DepositAccountMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2019-04-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:CashnetworkfeesMember2018-04-012018-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:AllotherfeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FiduciaryAndTrustMember2019-04-012019-06-300000072971us-gaap:DepositAccountMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CommercialRealEstateBrokerageCommissionsMember2019-01-012019-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:AllotherfeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DepositAccountMember2018-04-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2018-01-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CashnetworkfeesMember2019-01-012019-06-300000072971wfc:AllotherfeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CommercialRealEstateBrokerageCommissionsMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:WiretransferandotherremittancefeesMember2019-01-012019-06-300000072971us-gaap:DepositAccountMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DepositAccountMember2019-01-012019-06-300000072971wfc:LendingRelatedChargesandFeesMember2018-01-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:CashnetworkfeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:DepositAccountMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:CashnetworkfeesMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:WiretransferandotherremittancefeesMember2019-04-012019-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2019-01-012019-06-300000072971wfc:CashnetworkfeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DepositAccountMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:AllotherfeesMember2018-01-012018-06-300000072971us-gaap:InvestmentAdviceMember2019-04-012019-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdviceMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditAndDebitCardMember2019-01-012019-06-300000072971wfc:CashnetworkfeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FinancialServiceOtherMember2019-01-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:AllotherfeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:WiretransferandotherremittancefeesMember2018-01-012018-06-300000072971wfc:AllotherfeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CashnetworkfeesMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:LendingRelatedChargesandFeesMember2018-04-012018-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMember2018-01-012018-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:AllotherfeesMember2019-04-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:LendingRelatedChargesandFeesMember2019-04-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:AllotherfeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FiduciaryAndTrustMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CommercialRealEstateBrokerageCommissionsMember2018-04-012018-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CashnetworkfeesMember2019-04-012019-06-300000072971us-gaap:DepositAccountMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:AllotherfeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:WiretransferandotherremittancefeesMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:LendingRelatedChargesandFeesMember2019-01-012019-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:AllotherfeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdviceMember2018-01-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:DepositAccountMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:WiretransferandotherremittancefeesMember2018-04-012018-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2019-01-012019-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMember2018-04-012018-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdviceMember2019-04-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMember2019-01-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:AllotherfeesMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CashnetworkfeesMember2018-01-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:InvestmentAdviceMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DepositAccountMember2018-01-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditAndDebitCardMember2018-01-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FiduciaryAndTrustMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:AllotherfeesMember2018-01-012018-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:DepositAccountMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:InvestmentAdviceMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FiduciaryAndTrustMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:WiretransferandotherremittancefeesMember2018-01-012018-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:CashnetworkfeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:DepositAccountMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:AllotherfeesMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:AllotherfeesMember2018-04-012018-06-300000072971wfc:LendingRelatedChargesandFeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FinancialServiceOtherMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:CommercialRealEstateBrokerageCommissionsMember2019-04-012019-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:WiretransferandotherremittancefeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:LendingRelatedChargesandFeesMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:InvestmentAdviceMember2018-04-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:AllotherfeesMember2019-04-012019-06-300000072971wfc:WiretransferandotherremittancefeesMember2019-04-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditAndDebitCardMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:FiduciaryAndTrustMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:LendingRelatedChargesandFeesMember2018-04-012018-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMember2019-04-012019-06-300000072971wfc:CommercialRealEstateBrokerageCommissionsMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:AllotherfeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:LendingRelatedChargesandFeesMember2019-04-012019-06-300000072971us-gaap:DepositAccountMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:FinancialServiceOtherMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:FinancialServiceOtherMember2019-04-012019-06-300000072971us-gaap:InvestmentAdviceMember2018-04-012018-06-300000072971wfc:CashnetworkfeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:CreditAndDebitCardMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:InvestmentAdviceMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:DepositAccountMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:DebitCardMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:DebitCardMember2019-01-012019-06-300000072971us-gaap:DebitCardMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:DebitCardMember2019-04-012019-06-300000072971us-gaap:CreditCardMember2019-04-012019-06-300000072971us-gaap:CreditCardMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DebitCardMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditCardMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditCardMember2018-04-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:DebitCardMember2018-04-012018-06-300000072971us-gaap:DebitCardMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DebitCardMember2019-04-012019-06-300000072971us-gaap:DebitCardMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:DebitCardMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:CreditCardMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:DebitCardMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherCreditandDebitCardFeesMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMember2018-01-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:CreditCardMember2019-01-012019-06-300000072971us-gaap:CreditCardMember2018-04-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:CreditCardMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:CreditCardMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherCreditandDebitCardFeesMember2019-04-012019-06-300000072971us-gaap:CreditCardMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditCardMember2019-01-012019-06-300000072971us-gaap:DebitCardMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:DebitCardMember2018-01-012018-06-300000072971us-gaap:CreditCardMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMember2019-04-012019-06-300000072971us-gaap:CreditCardMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMember2018-04-012018-06-300000072971us-gaap:DebitCardMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DebitCardMember2018-04-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:CreditCardMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherCreditandDebitCardFeesMember2018-04-012018-06-300000072971us-gaap:DebitCardMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:DebitCardMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971us-gaap:CreditCardMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:DebitCardMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberus-gaap:CreditCardMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherCreditandDebitCardFeesMember2018-01-012018-06-300000072971us-gaap:DebitCardMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:CreditCardMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:CreditCardMember2018-01-012018-06-300000072971us-gaap:DebitCardMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:CreditCardMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMember2019-01-012019-06-300000072971wfc:OtherCreditandDebitCardFeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:CreditCardMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:DepositorAccountFeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InsufficientFundsFeesMember2018-04-012018-06-300000072971wfc:InsufficientFundsFeesMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:DepositorAccountFeesMember2018-04-012018-06-300000072971wfc:DepositorAccountFeesMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InsufficientFundsFeesMember2018-01-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:InsufficientFundsFeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:DepositorAccountFeesMember2019-04-012019-06-300000072971wfc:DepositorAccountFeesMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:InsufficientFundsFeesMember2018-04-012018-06-300000072971wfc:DepositorAccountFeesMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:DepositorAccountFeesMember2019-01-012019-06-300000072971wfc:DepositorAccountFeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:InsufficientFundsFeesMember2018-01-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:InsufficientFundsFeesMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:DepositorAccountFeesMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:DepositorAccountFeesMember2018-01-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:InsufficientFundsFeesMember2019-01-012019-06-300000072971wfc:DepositorAccountFeesMember2018-04-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InsufficientFundsFeesMember2019-04-012019-06-300000072971wfc:DepositorAccountFeesMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:DepositorAccountFeesMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:DepositorAccountFeesMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InsufficientFundsFeesMember2019-01-012019-06-300000072971wfc:OtherInvestmentManagementFeeMember2019-04-012019-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:OtherInvestmentManagementFeeMember2018-04-012018-06-300000072971wfc:OtherInvestmentManagementFeeMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971wfc:InvestmentTransactionalFeeMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentAssetBasedFeeMember2018-01-012018-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971wfc:InvestmentAssetBasedFeeMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMember2018-01-012018-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentTransactionalFeeMember2019-04-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:OtherInvestmentManagementFeeMember2019-01-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:CommunityBankingMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentTransactionalFeeMember2019-01-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentAssetBasedFeeMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentTransactionalFeeMember2018-04-012018-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WholesaleBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherInvestmentManagementFeeMember2019-04-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WholesaleBankingMember2019-04-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:InvestmentAssetBasedFeeMember2018-04-012018-06-300000072971wfc:InvestmentAssetBasedFeeMember2019-04-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:CommunityBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentAssetBasedFeeMember2019-04-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherInvestmentManagementFeeMember2019-01-012019-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentAssetBasedFeeMember2018-04-012018-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WealthAndInvestmentManagementMember2019-01-012019-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMember2019-01-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:WealthAndInvestmentManagementMember2019-04-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2018-01-012018-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WholesaleBankingMember2018-01-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherInvestmentManagementFeeMember2018-04-012018-06-300000072971wfc:InvestmentAssetBasedFeeMember2019-01-012019-06-300000072971wfc:InvestmentAssetBasedFeeMemberwfc:WholesaleBankingMember2019-01-012019-06-300000072971wfc:OtherInvestmentManagementFeeMemberwfc:WealthAndInvestmentManagementMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:OtherInvestmentManagementFeeMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:CommunityBankingMember2018-04-012018-06-300000072971us-gaap:IntersegmentEliminationMemberwfc:InvestmentTransactionalFeeMember2018-01-012018-06-300000072971wfc:InvestmentTransactionalFeeMember2019-04-012019-06-300000072971wfc:InvestmentTransactionalFeeMemberwfc:CommunityBankingMember2019-04-012019-06-300000072971wfc:CashBalancePlanMember2009-07-012019-06-300000072971us-gaap:NonqualifiedPlanMember2018-01-012018-06-300000072971us-gaap:QualifiedPlanMember2018-01-012018-06-300000072971us-gaap:QualifiedPlanMember2019-01-012019-06-300000072971us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-01-012019-06-300000072971us-gaap:QualifiedPlanMember2018-04-012018-06-300000072971us-gaap:QualifiedPlanMember2019-04-012019-06-300000072971us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-04-012019-06-300000072971us-gaap:NonqualifiedPlanMember2019-04-012019-06-300000072971us-gaap:NonqualifiedPlanMember2018-04-012018-06-300000072971us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2018-01-012018-06-300000072971us-gaap:NonqualifiedPlanMember2019-01-012019-06-300000072971us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2018-04-012018-06-300000072971us-gaap:StockOptionMember2019-04-012019-06-300000072971wfc:SeriesLPreferredStockMember2018-04-012018-06-300000072971wfc:SeriesLPreferredStockMember2018-01-012018-06-300000072971wfc:SeriesLPreferredStockMember2019-04-012019-06-300000072971us-gaap:StockOptionMember2018-04-012018-06-300000072971us-gaap:StockOptionMember2019-01-012019-06-300000072971us-gaap:StockOptionMember2018-01-012018-06-300000072971us-gaap:RightsMember2018-01-012018-06-300000072971us-gaap:WarrantMember2018-04-012018-06-300000072971us-gaap:StockOptionMember2019-01-012019-06-300000072971us-gaap:StockOptionMember2018-04-012018-06-300000072971us-gaap:StockOptionMember2018-01-012018-06-300000072971us-gaap:RightsMember2019-01-012019-06-300000072971us-gaap:RightsMember2019-04-012019-06-300000072971us-gaap:WarrantMember2019-01-012019-06-300000072971us-gaap:RightsMember2018-04-012018-06-300000072971us-gaap:StockOptionMember2019-04-012019-06-300000072971us-gaap:WarrantMember2018-01-012018-06-300000072971us-gaap:WarrantMember2019-04-012019-06-300000072971us-gaap:LoansAndFinanceReceivablesMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestIncomeMember2018-01-012018-06-300000072971wfc:OtherNoninterestIncomeMember2018-04-012018-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2018-01-012018-06-300000072971wfc:OtherNoninterestIncomeMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:InterestIncomeMember2018-04-012018-06-300000072971us-gaap:LoansAndFinanceReceivablesMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestIncomeMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:InterestIncomeMember2018-01-012018-06-300000072971wfc:OtherNoninterestIncomeMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2018-04-012018-06-300000072971wfc:OtherNoninterestIncomeMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:InterestIncomeMember2019-04-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2019-04-012019-06-300000072971us-gaap:LoansAndFinanceReceivablesMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestIncomeMember2019-04-012019-06-300000072971us-gaap:DebtSecuritiesMemberus-gaap:InterestIncomeMember2019-01-012019-06-300000072971us-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2019-01-012019-06-300000072971us-gaap:LoansAndFinanceReceivablesMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestIncomeMember2019-01-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:GainlossOnDebtSecuritiesMember2018-01-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:GainlossOnDebtSecuritiesMember2018-04-012018-06-300000072971us-gaap:DebtSecuritiesMemberwfc:GainlossOnDebtSecuritiesMember2019-01-012019-06-300000072971us-gaap:DebtSecuritiesMemberwfc:GainlossOnDebtSecuritiesMember2019-04-012019-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-06-300000072971us-gaap:AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember2019-01-012019-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-04-012019-06-300000072971us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember2019-04-012019-06-300000072971us-gaap:AociAttributableToNoncontrollingInterestMember2018-04-012018-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-01-012019-06-300000072971us-gaap:AccumulatedTranslationAdjustmentMember2019-01-012019-06-300000072971us-gaap:AccumulatedTranslationAdjustmentMember2018-04-012018-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-04-012018-06-300000072971us-gaap:AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember2019-04-012019-06-300000072971us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember2018-01-012018-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2017-12-310000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-03-310000072971us-gaap:AccumulatedTranslationAdjustmentMember2018-12-310000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-12-310000072971us-gaap:AccumulatedNetGainLossFromCashFlowHedgesAttributableToNoncontrollingInterestMember2019-01-012019-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-03-310000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2018-01-012018-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2018-04-012018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-04-012018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember2018-04-012018-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-06-300000072971us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember2019-01-012019-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-06-300000072971us-gaap:AccumulatedNetGainLossFromCashFlowHedgesAttributableToNoncontrollingInterestMember2018-04-012018-06-300000072971us-gaap:AociAttributableToNoncontrollingInterestMember2019-04-012019-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2018-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310000072971us-gaap:AccumulatedTranslationAdjustmentMember2018-01-012018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember2019-01-012019-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-03-310000072971us-gaap:AccumulatedTranslationAdjustmentMember2019-04-012019-06-300000072971us-gaap:AccountingStandardsUpdate201601Memberus-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-01-012018-06-300000072971us-gaap:AccumulatedTranslationAdjustmentMember2019-03-310000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember2018-01-012018-06-300000072971us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember2018-04-012018-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-01-012019-06-300000072971us-gaap:AccumulatedTranslationAdjustmentMember2017-12-310000072971us-gaap:AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember2018-04-012018-06-300000072971us-gaap:AccumulatedTranslationAdjustmentMember2018-03-310000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-01-012018-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2018-12-310000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2018-03-310000072971us-gaap:AccumulatedTranslationAdjustmentMember2019-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember2019-04-012019-06-300000072971us-gaap:AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember2018-01-012018-06-300000072971us-gaap:AccumulatedTranslationAdjustmentMember2018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-04-012019-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2017-12-310000072971us-gaap:AccumulatedNetGainLossFromCashFlowHedgesAttributableToNoncontrollingInterestMember2019-04-012019-06-300000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2017-12-310000072971us-gaap:AccountingStandardsUpdate201708Memberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310000072971us-gaap:AociAttributableToNoncontrollingInterestMember2019-01-012019-06-300000072971us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-04-012019-06-300000072971us-gaap:AccountingStandardsUpdate201601Memberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2017-12-310000072971us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-03-310000072971us-gaap:AociAttributableToNoncontrollingInterestMember2018-01-012018-06-300000072971us-gaap:AccumulatedNetGainLossFromCashFlowHedgesAttributableToNoncontrollingInterestMember2018-01-012018-06-300000072971us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-03-310000072971srt:SubsidiariesMember2018-12-310000072971srt:ParentCompanyMember2018-12-310000072971srt:SubsidiariesMember2019-06-300000072971srt:ParentCompanyMember2019-06-300000072971srt:SubsidiariesMemberus-gaap:StandardizedApproachMember2018-12-310000072971srt:ParentCompanyMemberus-gaap:StandardizedApproachMember2019-06-300000072971srt:ParentCompanyMemberus-gaap:AdvancedApproachMember2018-12-310000072971srt:ParentCompanyMemberus-gaap:StandardizedApproachMember2018-12-310000072971srt:SubsidiariesMemberus-gaap:AdvancedApproachMember2018-12-310000072971srt:SubsidiariesMemberus-gaap:AdvancedApproachMember2019-06-300000072971srt:SubsidiariesMemberus-gaap:StandardizedApproachMember2019-06-300000072971srt:ParentCompanyMemberus-gaap:AdvancedApproachMember2019-06-300000072971srt:ParentCompanyMemberus-gaap:StandardizedApproachMember2018-01-012018-12-310000072971srt:ParentCompanyMemberus-gaap:AdvancedApproachMember2019-01-012019-06-300000072971srt:SubsidiariesMemberus-gaap:StandardizedApproachMember2019-01-012019-06-300000072971srt:ParentCompanyMemberus-gaap:AdvancedApproachMember2018-01-012018-12-310000072971srt:ParentCompanyMemberus-gaap:StandardizedApproachMember2019-01-012019-06-300000072971srt:SubsidiariesMemberus-gaap:AdvancedApproachMember2019-01-012019-06-300000072971srt:SubsidiariesMemberus-gaap:StandardizedApproachMember2018-01-012018-12-310000072971srt:SubsidiariesMemberus-gaap:AdvancedApproachMember2018-01-012018-12-31xbrli:sharesiso4217:USDxbrli:sharesiso4217:USDwfc:businessxbrli:pureiso4217:USDwfc:loanwfc:legal_actionwfc:votewfc:segment


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☑
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2019  
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission file number 001-2979
WELLS FARGO & COMPANY
(Exact name of registrant as specified in its charter)
Delaware
 
No.
41-0449260
 
(State of incorporation)
 
(I.R.S. Employer Identification No.)
 
420 Montgomery Street, San Francisco, California 94163
(Address of principal executive offices)  (Zip Code) 
Registrant’s telephone number, including area code:  1-866-249-3302 
 
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange
on Which Registered
Common Stock, par value $1-2/3
WFC
NYSE
7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L
WFC.PRL
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series N
WFC.PRN
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series O
WFC.PRO
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series P
WFC.PRP
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q
WFC.PRQ
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R
WFC.PRR
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series T
WFC.PRT
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series V
WFC.PRV
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series W
WFC.PRW
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series X
WFC.PRX
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y
WFC.PRY
NYSE
Guarantee of 5.80% Fixed-to-Floating Rate Normal Wachovia Income Trust Securities of Wachovia Capital Trust III
WBTP
NYSE
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC
WFC/28A
NYSE
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                     Yes þ   No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).                                Yes þ   No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
    Large accelerated filer  þ                    Accelerated filer  ¨ 
Non-accelerated filer  ¨                     Smaller reporting company  ☐
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.            ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes ☐  No þ    
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
 
 
Shares Outstanding
 
 
July 24, 2019
Common stock, $1-2/3 par value
 
4,406,107,022
         



FORM 10-Q
 
CROSS-REFERENCE INDEX
 
PART I
Financial Information
 
Item 1.
Financial Statements
Page
 
Consolidated Statement of Income
61
 
Consolidated Statement of Comprehensive Income
62
 
Consolidated Balance Sheet
63
 
Consolidated Statement of Changes in Equity
64
 
Consolidated Statement of Cash Flows
68
 
Notes to Financial Statements
  
 
1

—
Summary of Significant Accounting Policies  
69
 
2

—
Business Combinations
71
 
3

—
Cash, Loan and Dividend Restrictions
72
 
4

—
Trading Activities
73
 
5

—
Available-for-Sale and Held-to-Maturity Debt Securities
74
 
6

—
Loans and Allowance for Credit Losses
80
 
7

—
Leasing Activity
94
 
8

—
Equity Securities
96
 
9

—
Other Assets
98
 
10

—
Securitizations and Variable Interest Entities
99
 
11

—
Mortgage Banking Activities
106
 
12

—
Intangible Assets
108
 
13

—
Guarantees, Pledged Assets and Collateral, and Other Commitments
110
 
14

—
Legal Actions
114
 
15

—
Derivatives
119
 
16

—
Fair Values of Assets and Liabilities
129
 
17

—
Preferred Stock
149
 
18

—
Revenue from Contracts with Customers
152
 
19

—
Employee Benefits
156
 
20

—
Earnings Per Common Share
157
 
21

—
Other Comprehensive Income
158
 
22

—
Operating Segments
160
 
23

—
Regulatory and Agency Capital Requirements
161
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations (Financial Review)
 
 
Summary Financial Data  
2
 
Overview
3
 
Earnings Performance
7
 
Balance Sheet Analysis
20
 
Off-Balance Sheet Arrangements  
23
 
Risk Management
24
 
Capital Management
49
 
Regulatory Matters
54
 
Critical Accounting Policies  
56
 
Current Accounting Developments
57
 
Forward-Looking Statements  
58
 
Risk Factors 
59
 
Glossary of Acronyms
162
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
43
Item 4.
Controls and Procedures
60
 
 
 
PART II
Other Information
 
Item 1.
Legal Proceedings
163
Item 1A.
Risk Factors
163
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
163
Item 6.
Exhibits
164
 
 
 
 
 
Signature
165

1


PART I - FINANCIAL INFORMATION

FINANCIAL REVIEW
Summary Financial Data
 
 
 
 
 
 
 
 
 
 
  
 
  
 
  
 
 
 
 
 
 
 
% Change
 
 
  
 
  
 
  
 
Quarter ended
 
 
Jun 30, 2019 from
 
 
Six months ended
 
 
  

($ in millions, except per share amounts)
Jun 30,
2019

 
Mar 31,
2019

 
Jun 30,
2018

 
Mar 31,
2019

 
Jun 30,
2018

 
Jun 30,
2019


Jun 30,
2018

 
%
Change

For the Period
 
 
 
 
 
 
 
 
 
 
  
 
  
 
  
Wells Fargo net income
$
6,206

 
5,860

 
5,186

 
6
 %
 
20

 
$
12,066

 
10,322

 
17
 %
Wells Fargo net income applicable to common stock
5,848

 
5,507

 
4,792

 
6

 
22

 
11,355

 
9,525

 
19

Diluted earnings per common share
1.30

 
1.20

 
0.98

 
8

 
33

 
2.50

 
1.94

 
29

Profitability ratios (annualized):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Wells Fargo net income to average assets (ROA)
1.31
%
 
1.26

 
1.10

 
4

 
19

 
1.29
%
 
1.10

 
17

Wells Fargo net income applicable to common stock to average Wells Fargo common stockholders’ equity (ROE)
13.26

 
12.71

 
10.60

 
4

 
25

 
12.99

 
10.59

 
23

Return on average tangible common equity (ROTCE) (1)
15.78

 
15.16

 
12.62

 
4

 
25

 
15.47

 
12.62

 
23

Efficiency ratio (2)
62.3

 
64.4

 
64.9

 
(3
)
 
(4
)
 
63.4

 
66.7

 
(5
)
Total revenue
$
21,584

 
21,609

 
21,553

 
—

 
—

 
$
43,193

 
43,487

 
(1
)
Pre-tax pre-provision profit (PTPP) (3)
8,135

 
7,693

 
7,571

 
6

 
7

 
15,828

 
14,463

 
9

Dividends declared per common share
0.45

 
0.45

 
0.39

 
—

 
15

 
0.90

 
0.78

 
15

Average common shares outstanding
4,469.4

 
4,551.5

 
4,865.8

 
(2
)
 
(8
)
 
4,510.2

 
4,875.7

 
(7
)
Diluted average common shares outstanding
4,495.0

 
4,584.0

 
4,899.8

 
(2
)
 
(8
)
 
4,540.1

 
4,916.1

 
(8
)
Average loans
$
947,460

 
950,010

 
944,079

 
—

 
—

 
$
948,728

 
947,532

 
—

Average assets
1,900,627

 
1,883,091

 
1,884,884

 
1

 
1

 
1,891,907

 
1,900,304

 
—

Average total deposits
1,268,979

 
1,262,062

 
1,271,339

 
1

 
—

 
1,265,539

 
1,284,187

 
(1
)
Average consumer and small business banking deposits (4)
742,671

 
739,654

 
754,047

 
—

 
(2
)
 
741,171

 
754,898

 
(2
)
Net interest margin
2.82
%
 
2.91

 
2.93

 
(3
)
 
(4
)
 
2.86
%
 
2.89

 
(1
)
At Period End
 
 
 
 
 
 
 
 
 
 
  
 
  
 
  
Debt securities
$
482,067

 
483,467

 
475,495

 
—

 
1

 
$
482,067

 
475,495

 
1

Loans
949,878

 
948,249

 
944,265

 
—

 
1

 
949,878

 
944,265

 
1

Allowance for loan losses
9,692

 
9,900

 
10,193

 
(2
)
 
(5
)
 
9,692

 
10,193

 
(5
)
Goodwill
26,415

 
26,420

 
26,429

 
—

 
—

 
26,415

 
26,429

 
—

Equity securities
61,537

 
58,440

 
57,505

 
5

 
7

 
61,537

 
57,505

 
7

Assets
1,923,388

 
1,887,792

 
1,879,700

 
2

 
2

 
1,923,388

 
1,879,700

 
2

Deposits
1,288,426

 
1,264,013

 
1,268,864

 
2

 
2

 
1,288,426

 
1,268,864

 
2

Common stockholders’ equity
177,235

 
176,025

 
181,386

 
1

 
(2
)
 
177,235

 
181,386

 
(2
)
Wells Fargo stockholders’ equity
199,042

 
197,832

 
205,188

 
1

 
(3
)
 
199,042

 
205,188

 
(3
)
Total equity
200,037

 
198,733

 
206,069

 
1

 
(3
)
 
200,037

 
206,069

 
(3
)
Tangible common equity (1)
148,864

 
147,723

 
152,580

 
1

 
(2
)
 
148,864

 
152,580

 
(2
)
Capital ratios (5):
 
 
 
 
 
 
 
 
 
 
  
 
  
 
  
Total equity to assets
10.40
%
 
10.53

 
10.96

 
(1
)
 
(5
)
 
10.40
%
 
10.96

 
(5
)
Risk-based capital:
 
 
 
 
 
 
 
 


 
  
 
  
 


Common Equity Tier 1
11.97

 
11.92

 
11.98

 
—

 
—

 
11.97

 
11.98

 
—

Tier 1 capital
13.69

 
13.64

 
13.83

 
—

 
(1
)
 
13.69

 
13.83

 
(1
)
Total capital
16.75

 
16.74

 
16.98

 
—

 
(1
)
 
16.75

 
16.98

 
(1
)
Tier 1 leverage
9.12

 
9.15

 
9.51

 
—

 
(4
)
 
9.12

 
9.51

 
(4
)
Common shares outstanding
4,419.6

 
4,511.9

 
4,849.1

 
(2
)
 
(9
)
 
4,419.6

 
4,849.1

 
(9
)
Book value per common share (6)
$
40.10

 
39.01

 
37.41

 
3

 
7

 
$
40.10

 
37.41

 
7

Tangible book value per common share (1)(6)
33.68

 
32.74

 
31.47

 
3

 
7

 
33.68

 
31.47

 
7

Team members (active, full-time equivalent)
262,800

 
262,100

 
264,500

 
—

 
(1
)
 
262,800

 
264,500

 
(1
)
(1)
Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, and goodwill and certain identifiable intangible assets (including goodwill and intangible assets associated with certain of our nonmarketable equity securities, but excluding mortgage servicing rights), net of applicable deferred taxes. The methodology of determining tangible common equity may differ among companies. Management believes that return on average tangible common equity and tangible book value per common share, which utilize tangible common equity, are useful financial measures because they enable investors and others to assess the Company’s use of equity. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Capital Management – Tangible Common Equity” section in this Report.
(2)
The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income).
(3)
Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense. Management believes that PTPP is a useful financial measure because it enables investors and others to assess the Company’s ability to generate capital to cover credit losses through a credit cycle.
(4)
Consumer and small business banking deposits are total deposits excluding mortgage escrow and wholesale deposits.
(5)
The risk-based capital ratios were calculated under the lower of Standardized or Advanced Approach determined pursuant to Basel III. Beginning January 1, 2018, the requirements for calculating common equity tier 1 and tier 1 capital, along with risk-weighted assets, became fully phased-in; accordingly, the information presented reflects fully phased-in common equity tier 1 capital, tier 1 capital and risk-weighted assets but reflects total capital still in accordance with Transition Requirements. See the “Capital Management” section and Note 23 (Regulatory and Agency Capital Requirements) to Financial Statements in this Report for additional information.
(6)
Book value per common share is common stockholders’ equity divided by common shares outstanding. Tangible book value per common share is tangible common equity divided by common shares outstanding.

2
Overview (continued)

This Quarterly Report, including the Financial Review and the Financial Statements and related Notes, contains forward-looking statements, which may include forecasts of our financial results and condition, expectations for our operations and business, and our assumptions for those forecasts and expectations. Do not unduly rely on forward-looking statements. Actual results may differ materially from our forward-looking statements due to several factors. Factors that could cause our actual results to differ materially from our forward-looking statements are described in this Report, including in the “Forward-Looking Statements” section, and in the “Risk Factors” and “Regulation and Supervision” sections of our Annual Report on Form 10-K for the year ended December 31, 2018 (2018 Form 10-K).
 
When we refer to “Wells Fargo,” “the Company,” “we,” “our,” or “us” in this Report, we mean Wells Fargo & Company and Subsidiaries (consolidated). When we refer to the “Parent,” we mean Wells Fargo & Company. See the Glossary of Acronyms for definitions of terms used throughout this Report.
 
Financial Review


Overview                                                        
Wells Fargo & Company is a diversified, community-based financial services company with $1.92 trillion in assets. Founded in 1852 and headquartered in San Francisco, we provide banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,600 locations, more than 13,000 ATMs, digital (online, mobile and social), and contact centers (phone, email and correspondence), and we have offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 active, full-time equivalent team members, we serve one in three households in the United States and ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. We ranked fourth in assets and third in the market value of our common stock among all U.S. banks at June 30, 2019.
We use our Vision, Values & Goals to guide us toward growth and success. Our vision is to satisfy our customers’ financial needs and help them succeed financially. We aspire to create deep and enduring relationships with our customers by providing them with an exceptional experience and by understanding their needs and delivering the most relevant products, services, advice, and guidance.
We have five primary values, which are based on our vision and guide the actions we take. First, we place customers at the center of everything we do. We want to exceed customer expectations and build relationships that last a lifetime. Second, we value and support our people as a competitive advantage and strive to attract, develop, motivate, and retain the best team members. Third, we strive for the highest ethical standards of integrity, transparency, and principled performance. Fourth, we value and promote diversity and inclusion in all aspects of business and at all levels. Fifth, we look to each of our team members to be a leader in establishing, sharing, and communicating our vision for our customers, communities, team members, and shareholders. In addition to our five primary values, one of our key day-to-day priorities is to make risk management a competitive advantage by working hard to ensure that appropriate controls are in place to reduce risks to our customers, maintain and increase our competitive market position, and protect Wells Fargo’s long-term safety, soundness, and reputation.
In keeping with our primary values and risk management priorities, we have six long-term goals for the Company, which entail becoming the financial services leader in the following areas:
•
Customer service and advice – provide exceptional service and guidance to our customers to help them succeed financially.
•
Team member engagement – be a company where people feel included, valued, and supported; everyone is respected; and we work as a team.
•
Innovation – create lasting value for our customers and increased efficiency for our operations through innovative thinking, industry-leading technology, and a willingness to test and learn.
•
Risk management – set the global standard in managing all forms of risk.
•
Corporate citizenship – make a positive contribution to communities through philanthropy, advancing diversity and inclusion, creating economic opportunity, and promoting environmental sustainability.
•
Shareholder value – deliver long-term value for shareholders.

The Company’s Board of Directors (Board) elected C. Allen Parker as Interim CEO and President and as a member of the Board effective March 28, 2019. The Board's external search for a permanent CEO is ongoing.

Federal Reserve Board Consent Order Regarding Governance Oversight and Compliance and Operational Risk Management
On February 2, 2018, the Company entered into a consent order with the Board of Governors of the Federal Reserve System (FRB). As required by the consent order, the Board submitted to the FRB a plan to further enhance the Board’s governance and oversight of the Company, and the Company submitted to the FRB a plan to further improve the Company’s compliance and operational risk management program. The Company continues to engage with the FRB as the Company works to address the consent order provisions. The consent order also requires the Company, following the FRB’s acceptance and approval of the plans and the Company’s adoption and implementation of the plans, to complete an initial third-party review of the enhancements and improvements provided for in the plans. Until this third-party review is complete and the plans are approved and implemented to the satisfaction of the FRB, the Company’s total consolidated assets will be limited to the level as of December 31, 2017. Compliance with this asset cap will be measured on a two-quarter daily average basis to allow for management of temporary fluctuations. As of the end of second quarter 2019, our total consolidated assets, as calculated pursuant to the requirements of the consent order, were below our level of total assets as of December 31, 2017. Additionally, after removal of the asset cap, a second third-party review must also be conducted to assess the efficacy and sustainability of the

3

enhancements and improvements.

Consent Orders with the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency Regarding Compliance Risk Management Program, Automobile Collateral Protection Insurance Policies, and Mortgage Interest Rate Lock Extensions
On April 20, 2018, the Company entered into consent orders with the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) to pay an aggregate of $1 billion in civil money penalties to resolve matters regarding the Company’s compliance risk management program and past practices involving certain automobile collateral protection insurance policies and certain mortgage interest rate lock extensions. As required by the consent orders, the Company submitted to the CFPB and OCC an enterprise-wide compliance risk management plan and a plan to enhance the Company’s internal audit program with respect to federal consumer financial law and the terms of the consent orders. In addition, as required by the consent orders, the Company submitted for non-objection plans to remediate customers affected by the automobile collateral protection insurance and mortgage interest rate lock matters, as well as a plan for the management of remediation activities conducted by the Company.

Retail Sales Practices Matters
As we have previously reported, in September 2016 we announced settlements with the CFPB, the OCC, and the Office of the Los Angeles City Attorney, and entered into consent orders with the CFPB and the OCC, in connection with allegations that some of our retail customers received products and services they did not request. As a result, it remains our top priority to rebuild trust through a comprehensive action plan that includes making things right for our customers, team members, and other stakeholders, and building a better Company for the future.
Our priority of rebuilding trust has included numerous actions focused on identifying potential financial harm and customer remediation. The Board and management are conducting company-wide reviews of sales practices issues. These reviews are ongoing. In August 2017, a third-party consulting firm completed an expanded data-driven review of retail banking accounts opened from January 2009 to September 2016 to identify financial harm stemming from potentially unauthorized accounts. We have completed financial remediation for the customers identified through the expanded account analysis. Additionally, customer outreach under the $142 million class-action lawsuit settlement concerning improper retail sales practices (Jabbari v. Wells Fargo Bank, N.A.) into which the Company entered to provide further remediation to customers, concluded in June 2018 and the period for customers to submit claims closed on July 7, 2018. The settlement administrator will pay claims following the calculation of compensatory damages and favorable resolution of pending appeals in the case.
For additional information regarding sales practices matters, including related legal matters, see the “Risk Factors” section in our 2018 Form 10-K and Note 14 (Legal Actions) to Financial Statements in this Report.

Additional Efforts to Rebuild Trust
Our priority of rebuilding trust has also included an effort to identify other areas or instances where customers may have experienced financial harm. We are working with our regulatory agencies in this effort, and we have accrued for the reasonably estimable remediation costs related to these matters, which amounts may change based on additional facts and information, as well as ongoing reviews and communications with our regulators. As part of this effort, we are focused on the following key areas:
•
Automobile Lending Business The Company is reviewing practices concerning the origination, servicing, and collection of consumer automobile loans, including matters related to certain insurance products. In July 2017, the Company announced it would remediate customers who may have been financially harmed due to issues related to automobile collateral protection insurance (CPI) policies purchased through a third-party vendor on their behalf (based on an understanding that the borrowers did not have physical damage insurance coverage on their automobiles as required during the term of their automobile loans). The Company is in the process of providing remediation to affected customers and/or letters to affected customers through which they may claim or otherwise receive remediation compensation for policies placed between October 15, 2005, and September 30, 2016. In addition, the Company has identified certain issues related to the unused portion of guaranteed automobile protection waiver or insurance agreements between the customer and dealer and, by assignment, the lender, which will require remediation to customers in certain states. The Company is in the process of providing such remediation to affected customers. The Company has also identified certain issues related to its consumer automobile collections processes for customers in default, including legal notice practices in certain states and expenses charged in connection with certain repossessions. We expect remediation of affected customers will be required.
•
Add-on Products The Company is reviewing practices related to certain consumer “add-on” products, including identity theft and debt protection products that were subject to an OCC consent order entered into in June 2015, as well as home and automobile warranty products, and memberships in discount programs. The products were sold to customers through a number of distribution channels and, in some cases, were acquired by the Company in connection with the purchase of loans. Sales of certain of these products have been discontinued over the past few years primarily due to decisions made by the Company in the normal course of business, and by mid-2017, the Company had ceased selling any of these products to consumers. We are in the process of providing remediation where we identify affected customers, and are also providing refunds to customers who purchased certain products. The review of the Company’s historical practices with respect to these products is ongoing, focusing on, among other topics, sales practices, adequacy of disclosures, customer servicing, and volume and type of customer complaints.
•
Consumer Deposit Account Freezing/Closing The Company is reviewing certain historical practices associated with the freezing (and, in many cases, closing) of consumer deposit accounts after the Company detected suspected fraudulent activity (by third-parties or account holders) that affected those accounts. Based on our ongoing review, we expect to remediate affected customers.
•
Review of Certain Activities Within Wealth and Investment Management A review of certain activities within Wealth and Investment Management (WIM) being conducted by the Board, in response to inquiries from federal government agencies, is assessing whether there have

4
Overview (continued)

been inappropriate referrals or recommendations, including with respect to rollovers for 401(k) plan participants, certain alternative investments, or referrals of brokerage customers to the Company’s investment and fiduciary services business. The Board substantially completed its review and did not uncover evidence of systemic or widespread issues in these businesses. Federal government agencies continue to review this matter.
•
Fiduciary and Custody Account Fee Calculations The Company is reviewing fee calculations within certain fiduciary and custody accounts in its investment and fiduciary services business, which is part of the wealth management business in WIM. The Company has determined that there have been instances of incorrect fees being applied to certain assets and accounts, resulting in both overcharges and undercharges to customers. These issues included the incorrect set-up and maintenance in the system of record of the values associated with certain assets. The Company has performed root cause analyses with the assistance of third parties and is in the process of implementing additional operational and control procedures as a result. Systems, operations, and account-level reviews are ongoing to determine the extent of any assets and accounts affected, and, as a result of its reviews to date, the Company has suspended the charging of fees on some assets and accounts, has notified the affected customers, and is continuing its analysis of those assets and accounts. We are in the process of providing remediation to affected customers and continue to review customer accounts to determine the extent of any necessary remediation, including with respect to additional accounts not yet reviewed, which may lead to additional accruals and fee suspensions.
•
Foreign Exchange Business The Company has completed an assessment, with the assistance of a third party, of its policies, practices, and procedures in its foreign exchange (FX) business. The FX business has substantially completed the implementation of new policies, practices, and procedures, including those related to pricing. The Company is in the process of providing remediation to customers that may have received pricing inconsistent with commitments made to those customers, and rebates to customers where historic pricing, while consistent with contracts entered into with those customers, does not conform to recently implemented pricing review standards for prior periods. The Company’s review of affected customers is ongoing.
•
Mortgage Loan Modifications An internal review of the Company’s use of a mortgage loan modification underwriting tool identified a calculation error regarding foreclosure attorneys’ fees affecting certain accounts that were in the foreclosure process between April 13, 2010, and October 2, 2015, when the error was corrected. A subsequent expanded review identified related errors regarding the maximum allowable foreclosure attorneys’ fees permitted for certain accounts that were in the foreclosure process between March 15, 2010, and April 30, 2018, when new controls were implemented. Similar to the initial calculation error, these errors caused an overstatement of the attorneys’ fees that were included for purposes of determining whether a customer qualified for a mortgage loan modification or repayment plan pursuant to the requirements of government-sponsored enterprises (such as Fannie Mae and Freddie Mac), the Federal Housing Administration (FHA), and the U.S. Department of Treasury’s Home Affordable Modification Program. Customers were not actually charged the incorrect attorneys’ fees. As previously disclosed, the Company has identified customers who, as a result of these errors, were incorrectly denied a loan modification or were not offered a loan modification or repayment plan in cases where they otherwise would have qualified, as well as instances where a foreclosure was completed after the loan modification was denied or the customer was deemed ineligible to be offered a loan modification or repayment plan. The number of previously disclosed customers affected by these errors may change as a result of ongoing validation, but is not expected to change materially upon completion of this validation. The Company has contacted substantially all of the identified customers affected by these errors and has provided remediation as well as the option to pursue no-cost mediation with an independent mediator. The Company’s review of its mortgage loan modification practices is ongoing, and we are providing remediation to the extent we identify additional affected customers as a result of this review.
•
Consumer Deposit Account Disclosures and Fees The Company is reviewing certain past disclosures to customers regarding the minimum qualifying debit card usage required for customers to receive a waiver of monthly service fees on certain consumer deposit accounts. Based on the possibility of confusion by some customers regarding the transactions that counted toward the waiver, we expect to refund certain monthly service and related fees to affected customers.
Separately, the Company expects to refund certain monthly service fees that were charged in the past on certain consumer deposit accounts prior to an initial deposit being made by the customer. Under the Company’s current processes, which have been in place for several years, we would no longer assess a monthly service fee on such accounts prior to an initial deposit by the customer.

To the extent issues are identified, we will continue to assess any customer harm and provide remediation as appropriate. This effort to identify other instances in which customers may have experienced harm is ongoing, and it is possible that we may identify other areas of potential concern. For more information, including related legal and regulatory risk, see the “Risk Factors” section in our 2018 Form 10-K and Note 14 (Legal Actions) to Financial Statements in this Report.

Financial Performance
Wells Fargo net income was $6.2 billion in second quarter 2019 with diluted earnings per common share (EPS) of $1.30, compared with $5.2 billion and $0.98, respectively, a year ago. In second quarter 2019:
•
revenue was $21.6 billion, up $31 million compared with a year ago, with net interest income down $446 million and noninterest income up $477 million;
•
the net interest margin was 2.82%, down 11 basis points from a year ago primarily due to balance sheet mix and repricing;
•
noninterest expense was $13.4 billion, down $533 million from a year ago primarily due to lower remediation expense, core deposit and other intangibles expense, and FDIC and other deposit assessments expense;
•
average loans were $947.5 billion, up $3.4 billion from a year ago;
•
average deposits were $1.3 trillion, down $2.4 billion from a year ago;

5

•
return on assets (ROA) of 1.31% and return on equity (ROE) of 13.26%, were up from 1.10% and 10.60%, respectively, a year ago;
•
our credit results remained strong with a net charge-off rate of 0.28% (annualized) of average loans in second quarter 2019, compared with 0.26% (annualized) a year ago;
•
nonaccrual loans of $5.9 billion were down $1.2 billion, or 17%, from a year ago; and
•
we returned $6.1 billion to shareholders through common stock dividends and net share repurchases, an increase of 52% from the $4.0 billion we returned in second quarter 2018 and the 16th consecutive quarter of returning more than $3 billion.

Balance Sheet and Liquidity
Our balance sheet remained strong during second quarter 2019 with strong credit quality and solid levels of liquidity and capital. Our total assets were $1.92 trillion at June 30, 2019. Cash and other short-term investments increased $23.1 billion from December 31, 2018, reflecting an increase in federal funds sold and securities purchased under resale agreements. Debt securities were $482.1 billion at June 30, 2019, a decrease of $2.6 billion from December 31, 2018, predominantly due to a decrease in available-for-sale debt securities. Loans were down $3.2 billion from December 31, 2018, driven by declines in real estate 1-4 family junior lien mortgage, commercial and industrial, commercial real estate construction, and other revolving credit and installment loans, partially offset by increases in real estate 1-4 family first mortgage and commercial real estate mortgage loans.
Average deposits in second quarter 2019 were $1.3 trillion, down $2.4 billion from second quarter 2018 reflecting lower Wealth and Investment Management and Wholesale Banking deposits as customers allocated more cash into higher yielding liquid alternatives. Our average deposit cost in second quarter 2019 was 70 basis points, up 30 basis points from a year ago, driven by an increase in Wholesale Banking and Wealth and Investment Management deposit rates, unfavorable deposit mix shifts and retail banking deposit campaign pricing for new deposits.

Credit Quality
Solid overall credit results continued in second quarter 2019 as losses remained low and we continued to originate high quality loans, reflecting our long-term risk focus. Net charge-offs were $653 million, or 0.28% (annualized) of average loans, in second quarter 2019, compared with $602 million a year ago (0.26%) (annualized). The increase in net charge-offs in second quarter 2019, compared with a year ago, was predominantly driven by higher losses in the commercial and industrial portfolio and the credit card portfolio, partially offset by declines in the automobile portfolio.
Our commercial portfolio net charge-offs were $165 million, or 13 basis points (annualized) of average commercial loans, in second quarter 2019, compared with net charge-offs of $67 million, or 5 basis points (annualized), a year ago. Net consumer credit losses decreased to 45 basis points (annualized) of average consumer loans in second quarter 2019 from 49 basis points (annualized) in second quarter 2018.
The allowance for credit losses as of June 30, 2019, decreased $507 million compared with a year ago and decreased $104 million from December 31, 2018. We had a $150 million release in the allowance for credit losses in both second quarter 2019 and 2018. The allowance coverage for total loans was 1.12% at June 30, 2019, compared with 1.18% a year ago and 1.12% at December 31, 2018. The allowance covered 4.0 times annualized second quarter net charge-offs, compared with 4.6 times a year ago. Future allowance levels will be based on a variety of factors, including loan growth, portfolio performance and general economic conditions. Our provision for loan losses was $503 million in second quarter 2019, up from $452 million a year ago.
Nonperforming assets decreased $1.0 billion, or 14%, from March 31, 2019, and $648 million, or 9%, from December 31, 2018, and represented 0.66% of total loans at June 30, 2019. Nonaccrual loans decreased $983 million from March 31, 2019, and $574 million from December 31, 2018, driven by a decline in consumer nonaccruals from the reclassification of $373 million in real estate 1-4 family first mortgage nonaccrual loans to mortgage loans held for sale (MLHFS) in second quarter 2019, as well as other broad-based improvement across several commercial industry categories. Foreclosed assets decreased $59 million from March 31, 2019, and $74 million from December 31, 2018.

Capital
Our financial performance in second quarter 2019 allowed us to maintain a solid capital position, with total equity of $200.0 billion at June 30, 2019, compared with $197.1 billion at December 31, 2018. We returned $6.1 billion to shareholders in second quarter 2019 through common stock dividends and net share repurchases, which was 52% more than the $4.0 billion we returned in second quarter 2018. Our net payout ratio (which is the ratio of (i) common stock dividends and share repurchases less issuances and stock compensation-related items, divided by (ii) net income applicable to common stock) was 104%. We continued to reduce our common shares outstanding through the repurchase of 104.9 million common shares in the quarter. We expect to reduce our common shares outstanding through share repurchases throughout the remainder of 2019.
We believe an important measure of our capital strength is the Common Equity Tier 1 (CET1) ratio under Basel III, fully phased-in, which was 11.97% at June 30, 2019, up from 11.74% at December 31, 2018, and well above our internal target of 10%. As of June 30, 2019, our eligible external total loss absorbing capacity (TLAC) as a percentage of total risk-weighted assets was 24.09%, compared with the required minimum of 22.0%. Likewise, our other regulatory capital ratios remained strong. See the “Capital Management” section in this Report for more information regarding our capital, including the calculation of our regulatory capital amounts.

6
Earnings Performance (continued)




Earnings Performance 
Wells Fargo net income for second quarter 2019 was $6.2 billion ($1.30 diluted earnings per common share), compared with $5.2 billion ($0.98 diluted per share) for second quarter 2018. Our financial performance in second quarter 2019 benefited from a $477 million increase in noninterest income, a $533 million decrease in noninterest expense, and a $516 million decline in income tax expense, partially offset by a $446 million decrease in net interest income, and a $51 million increase in our provision for credit losses. Net income in second quarter 2019 benefited from a net discrete income tax benefit of $14 million, compared with a net discrete income tax expense of $481 million for the same period a year ago. Net income for the first half of 2019 was $12.1 billion, compared with $10.3 billion for the same period a year ago. The increase in net income in the first half of 2019, compared with the same period a year ago, was driven by a $79 million increase in noninterest income, a $1.7 billion decrease in noninterest expense, and a $1.0 billion decline in income tax expense, partially offset by a $373 million decrease in net interest income, and a $705 million increase in our provision for credit losses. Net income in the first half of 2019 benefited from a net discrete income tax benefit of $311 million, compared with a net discrete income tax expense of $618 million for the same period a year ago.
Revenue, the sum of net interest income and noninterest income, was $21.6 billion in both the second quarter of 2019 and 2018. Revenue was flat in second quarter 2019, compared with the same period a year ago, with an increase in noninterest income, offset by a decrease in net interest income. Our diversified sources of revenue generated by our businesses continued to be balanced between net interest income and noninterest income. Revenue for the first half of 2019 was $43.2 billion, compared with $43.5 billion for the first half of 2018. The decline in revenue in the first half of 2019, compared with the same period a year ago, was predominantly due to a decline in net interest income. In the first half of 2019 and 2018, net interest income represented 57% of revenue. Noninterest income was $18.8 billion in the first half of 2019, representing 43% of revenue, compared with $18.7 billion and 43% in the first half of 2018.

Net Interest Income
Net interest income is the interest earned on debt securities, loans (including yield-related loan fees) and other interest-earning assets minus the interest paid on deposits, short-term borrowings and long-term debt. The net interest margin is the average yield on earning assets minus the average interest rate paid for deposits and our other sources of funding. Net interest income and the net interest margin are presented on a taxable-equivalent basis in Table 1 to consistently reflect income from taxable and tax-exempt loans and debt and equity securities based on a 21% federal statutory tax rate for the periods ending June 30, 2019 and 2018.
Net interest income and the net interest margin in any one period can be significantly affected by a variety of factors including the mix and overall size of our earning assets portfolio and the cost of funding those assets. In addition, variable sources of interest income, such as loan fees, periodic dividends, and collection of interest on nonaccrual loans, can fluctuate from period to period.
Net interest income on a taxable-equivalent basis was $12.3 billion and $24.7 billion in the second quarter and first half of 2019, respectively, compared with $12.7 billion and
 
$25.1 billion for the same periods a year ago. Net interest margin on a taxable-equivalent basis was 2.82% and 2.86% in the second quarter and first half of 2019, compared with 2.93% and 2.89% for the same periods a year ago. The decrease in net interest income and net interest margin in the second quarter and first half of 2019, compared with the same periods a year ago, was driven by:
•
unfavorable impacts of growth, mix and repricing; and
•
lower variable sources of interest income;
partially offset by:
•
favorable hedge ineffectiveness accounting results; and
•
a reduction in net securities premium amortization.

Average earning assets increased $6.7 billion in the second quarter compared with the same period a year ago. The change was driven by increases in:
•
average federal funds sold and securities purchased under resale agreements of $18.1 billion;
•
average debt securities of $4.2 billion; and
•
average loans of $3.4 billion;
partially offset by decreases in:
•
average interest-earning deposits of $13.8 billion;
•
average equity securities of $2.1 billion;
•
average loans held for sale of $1.8 billion;
•
other earning assets of $825 million; and
•
average mortgage loans held for sale of $324 million.

Average earning assets decreased $11.5 billion in the first half of 2019 compared with the same period a year ago. The change was driven by decreases in:
•
average interest-earning deposits of $22.6 billion;
•
average equity securities of $4.4 billion;
•
average mortgage loans held for sale of $2.4 billion;
•
average loans held for sale of $1.0 billion; and
•
other earning assets of $1.2 billion;
partially offset by increases in:
•
average federal funds sold and securities purchased under resale agreements of $11.8 billion;
•
average debt securities of $7.1 billion; and
•
average loans of $1.2 billion.

Deposits are an important low-cost source of funding and affect both net interest income and the net interest margin. Deposits include noninterest-bearing deposits, interest-bearing checking, market rate and other savings, savings certificates, other time deposits, and deposits in foreign offices. Average deposits were $1.27 trillion in both the second quarter and first half of 2019, respectively, compared with $1.27 trillion and $1.28 trillion in the same periods a year ago, and represented 134% of average loans in second quarter 2019 and 133% in the first half of 2019, compared with 135% in second quarter 2018 and 136% in the first half of 2018. Average deposits were 73% of average earning assets in both the second quarter and first half of 2019, compared with 73% in both the periods a year ago. The average deposit cost for second quarter 2019 was 70 basis points, up 30 basis points from a year ago, driven by an increase in Wholesale Banking and WIM deposit rates, unfavorable deposit mix shifts, and retail banking deposit campaign pricing for new deposits.

7

Table 1: Average Balances, Yields and Rates Paid (Taxable-Equivalent Basis) (1)(2)
  
Quarter ended June 30,
 
 
 
 
 
 
2019

 
 
 
 
 
2018

(in millions)
Average
balance

 
Yields/
rates

 
Interest
income/
expense

 
Average
balance

 
Yields/
rates

 
Interest
income/
expense

Earning assets
 
 
 
 
 
 
 
 
 
 
 
Interest-earning deposits with banks
$
141,045

 
2.33
%
 
$
819

 
154,846

 
1.75
%
 
$
676

Federal funds sold and securities purchased under resale agreements
98,130

 
2.44

 
598

 
80,020

 
1.73

 
344

Debt securities (3): 
 
 
 
 
 
 
 
 
 
 
 
Trading debt securities
86,514

 
3.45

 
746

 
80,661

 
3.45

 
695

Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
15,402

 
2.21

 
85

 
6,425

 
1.66

 
27

Securities of U.S. states and political subdivisions
45,769

 
4.02

 
460

 
47,388

 
3.91

 
464

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Federal agencies
149,761

 
2.99

 
1,120

 
154,929

 
2.75

 
1,065

Residential and commercial
5,562

 
4.02

 
56

 
8,248

 
4.86

 
101

Total mortgage-backed securities
155,323

 
3.03

 
1,176

 
163,177

 
2.86

 
1,166

Other debt securities
45,063

 
4.40

 
494

 
47,009

 
4.33

 
506

Total available-for-sale debt securities
261,557

 
3.39

 
2,215

 
263,999

 
3.28

 
2,163

Held-to-maturity debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
44,762

 
2.19

 
244

 
44,731

 
2.19

 
244

Securities of U.S. states and political subdivisions
6,958

 
4.06

 
71

 
6,255

 
4.34

 
68

Federal agency and other mortgage-backed securities
95,506

 
2.64

 
632

 
94,964

 
2.33

 
552

Other debt securities
58

 
3.86

 
—

 
584

 
4.66

 
7

Total held-to-maturity debt securities
147,284

 
2.57

 
947

 
146,534

 
2.38

 
871

Total debt securities
495,355

 
3.16

 
3,908

 
491,194

 
3.04

 
3,729

Mortgage loans held for sale (4)
18,464

 
4.22

 
195

 
18,788

 
4.22

 
198

Loans held for sale (4)
1,642

 
4.80

 
20

 
3,481

 
5.48

 
48

Loans:
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial – U.S.
285,084

 
4.47

 
3,176

 
275,259

 
4.16

 
2,851

Commercial and industrial – Non U.S.
62,905

 
3.90

 
611

 
59,716

 
3.51

 
524

Real estate mortgage
121,869

 
4.58

 
1,390

 
123,982

 
4.27

 
1,319

Real estate construction
21,568

 
5.36

 
288

 
23,637

 
4.88

 
287

Lease financing
19,133

 
4.71

 
226

 
19,266

 
4.48

 
216

Total commercial loans
510,559

 
4.47

 
5,691

 
501,860

 
4.15

 
5,197

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
286,169

 
3.88

 
2,776

 
283,101

 
4.06

 
2,870

Real estate 1-4 family junior lien mortgage
32,609

 
5.75

 
468

 
37,249

 
5.32

 
495

Credit card
38,154

 
12.65

 
1,204

 
35,883

 
12.66

 
1,133

Automobile
45,179

 
5.23

 
589

 
48,568

 
5.18

 
628

Other revolving credit and installment
34,790

 
7.12

 
617

 
37,418

 
6.62

 
617

Total consumer loans
436,901

 
5.18

 
5,654

 
442,219

 
5.20

 
5,743

Total loans (4)
947,460

 
4.80

 
11,345

 
944,079

 
4.64

 
10,940

Equity securities
35,215

 
2.70

 
237

 
37,330

 
2.38

 
222

Other
4,693

 
1.76

 
20

 
5,518

 
1.48

 
21

Total earning assets
$
1,742,004

 
3.94
%
 
$
17,142

 
1,735,256

 
3.73
%
 
$
16,178

Funding sources
 
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
 
Interest-bearing checking
$
57,549

 
1.46
%
 
$
210

 
80,324

 
0.90
%
 
$
181

Market rate and other savings
690,677

 
0.59

 
1,009

 
676,668

 
0.26

 
434

Savings certificates
30,620

 
1.62

 
124

 
20,033

 
0.43

 
21

Other time deposits
96,887

 
2.61

 
630

 
82,061

 
2.26

 
465

Deposits in foreign offices
51,875

 
1.86

 
240

 
51,474

 
1.30

 
167

Total interest-bearing deposits
927,608

 
0.96

 
2,213

 
910,560

 
0.56

 
1,268

Short-term borrowings
114,754

 
2.26

 
646

 
103,795

 
1.54

 
398

Long-term debt
236,734

 
3.21

 
1,900

 
223,800

 
2.97

 
1,658

Other liabilities
24,314

 
2.18

 
132

 
28,202

 
2.12

 
150

Total interest-bearing liabilities
1,303,410

 
1.50

 
4,891

 
1,266,357

 
1.10

 
3,474

Portion of noninterest-bearing funding sources
438,594

 
—

 
—

 
468,899

 
—

 
—

Total funding sources
$
1,742,004

 
1.12

 
4,891

 
1,735,256

 
0.80

 
3,474

Net interest margin and net interest income on a taxable-equivalent basis (5)
 
 
2.82
%
 
$
12,251

 
 
 
2.93
%
 
$
12,704

Noninterest-earning assets
 
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
$
19,475

 
  
 
  
 
18,609

 
  
 
  
Goodwill
26,415

 
  
 
  
 
26,444

 
  
 
  
Other
112,733

 
 
 
 
 
104,575

 
 
 
 
Total noninterest-earning assets
$
158,623

 
 
 
 
 
149,628

 
 
 
 
Noninterest-bearing funding sources
 
 
 
 
 
 
  
 
 
 
 
Deposits
$
341,371

 
 
 
 
 
360,779

 
 
 
 
Other liabilities
56,161

 
 
 
 
 
51,681

 
 
 
 
Total equity
199,685

 
 
 
 
 
206,067

 
 
 
 
Noninterest-bearing funding sources used to fund earning assets
(438,594
)
 
 
 
 
 
(468,899
)
 
 
 
 
Net noninterest-bearing funding sources
$
158,623

 
 
 
 
 
149,628

 
 
 
 
Total assets
$
1,900,627

 
 
 
 
 
1,884,884

 
 
 
 
(1)
Our average prime rate was 5.50% and 4.80% for the quarters ended June 30, 2019 and 2018, respectively, and 5.50% and 4.66%, for the first half of 2019 and 2018, respectively. The average three-month London Interbank Offered Rate (LIBOR) was 2.51% and 2.34% for the quarters ended June 30, 2019 and 2018, respectively, and 2.60% and 2.13% for the first half of 2019 and 2018, respectively.
(2)
Yields/rates and amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)
Yields/rates are based on interest income/expense amounts for the period, annualized based on the accrual basis for the respective accounts. The average balance amounts represent amortized cost for the periods presented.

8



 
Six months ended June 30,
 
 
  
 
  
 
2019

 
  
 
  
 
2018

(in millions)
Average
balance

 
Yields/
rates

 
Interest
income/
expense

 
Average
balance

 
Yields/
rates

 
Interest
income/
expense

Earning assets
 
 
 
 
 
 
 
 
 
 
 
Interest-earning deposits with banks
$
140,915

 
2.33
%
 
$
1,629

 
163,520

 
1.61
%
 
$
1,308

Federal funds sold and securities purchased under resale agreements
90,875

 
2.42

 
1,093

 
79,083

 
1.57

 
615

Debt securities (3):
 
 
 
 
 
 
 
 
 
 
 
Trading debt securities
87,938

 
3.52

 
1,544

 
79,693

 
3.35

 
1,332

Available-for-sale debt securities: 
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
14,740

 
2.18

 
159

 
6,426

 
1.66

 
53

Securities of U.S. states and political subdivisions
47,049

 
4.02

 
946

 
48,665

 
3.64

 
885

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Federal agencies
150,623

 
3.04

 
2,293

 
156,690

 
2.73

 
2,141

Residential and commercial
5,772

 
4.17

 
120

 
8,558

 
4.48

 
192

Total mortgage-backed securities
156,395

 
3.09

 
2,413

 
165,248

 
2.82

 
2,333

Other debt securities
45,920

 
4.43

 
1,011

 
47,549

 
4.02

 
950

Total available-for-sale debt securities
264,104

 
3.44

 
4,529

 
267,888

 
3.16

 
4,221

Held-to-maturity debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
44,758

 
2.20

 
487

 
44,727

 
2.20

 
487

Securities of U.S. states and political subdivisions
6,560

 
4.05

 
133

 
6,257

 
4.34

 
136

Federal agency and other mortgage-backed securities
95,753

 
2.69

 
1,288

 
92,888

 
2.35

 
1,093

Other debt securities
60

 
3.91

 
1

 
639

 
3.89

 
12

Total held-to-maturity debt securities
147,131

 
2.60

 
1,909

 
144,511

 
2.40

 
1,728

Total debt securities
499,173

 
3.20

 
7,982

 
492,092

 
2.96

 
7,281

Mortgage loans held for sale (4)
16,193

 
4.28

 
347

 
18,598

 
4.06

 
377

Loans held for sale (4)
1,752

 
5.04

 
44

 
2,750

 
5.28

 
72

Loans:
 
 
 
 
 
 
 
 
 
 
 
Commercial loans:
  
 
 
 
  
 
  
 
 
 
  
Commercial and industrial – U.S.
285,827

 
4.47

 
6,345

 
273,658

 
4.00

 
5,435

Commercial and industrial – Non U.S.
62,863

 
3.90

 
1,215

 
59,964

 
3.37

 
1,003

Real estate mortgage
121,644

 
4.58

 
2,763

 
125,085

 
4.16

 
2,581

Real estate construction
21,999

 
5.40

 
589

 
24,041

 
4.70

 
561

Lease financing
19,261

 
4.66

 
450

 
19,266

 
4.89

 
471

Total commercial loans
511,594

 
4.48

 
11,362

 
502,014

 
4.03

 
10,051

Consumer loans:
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
285,694

 
3.92

 
5,597

 
283,651

 
4.04

 
5,722

Real estate 1-4 family junior lien mortgage
33,197

 
5.75

 
949

 
38,042

 
5.23

 
988

Credit card
38,168

 
12.76

 
2,416

 
36,174

 
12.71

 
2,280

Automobile
45,007

 
5.21

 
1,163

 
50,010

 
5.17

 
1,283

Other revolving credit and installment
35,068

 
7.13

 
1,240

 
37,641

 
6.54

 
1,221

Total consumer loans
437,134

 
5.22

 
11,365

 
445,518

 
5.18

 
11,494

Total loans (4)
948,728

 
4.82

 
22,727

 
947,532

 
4.57

 
21,545

Equity securities
34,154

 
2.63

 
448

 
38,536

 
2.37

 
455

Other
4,555

 
1.69

 
38

 
5,765

 
1.34

 
40

Total earning assets
$
1,736,345

 
3.97
%
 
$
34,308

 
1,747,876

 
3.64
%
 
$
31,693

Funding sources
 
 
 
 
 
 
 
 
 
 
 
Deposits:
  
 
 
 
  
 
  
 
 
 
  
Interest-bearing checking
$
56,905

 
1.44
%
 
$
407

 
74,084

 
0.84
%
 
$
310

Market rate and other savings
689,628

 
0.54

 
1,856

 
677,861

 
0.24

 
802

Savings certificates
27,940

 
1.46

 
202

 
20,025

 
0.38

 
38

Other time deposits
97,356

 
2.64

 
1,275

 
79,340

 
2.06

 
812

Deposits in foreign offices
53,649

 
1.88

 
499

 
73,023

 
1.09

 
396

Total interest-bearing deposits
925,478

 
0.92

 
4,239

 
924,333

 
0.51

 
2,358

Short-term borrowings
111,719

 
2.24

 
1,243

 
102,793

 
1.39

 
710

Long-term debt
234,963

 
3.27

 
3,827

 
224,924

 
2.88

 
3,234

Other liabilities
24,801

 
2.23

 
275

 
28,065

 
2.02

 
282

Total interest-bearing liabilities
1,296,961

 
1.49

 
9,584

 
1,280,115

 
1.03

 
6,584

Portion of noninterest-bearing funding sources
439,384

 
 
 
—

 
467,761

 
—

 
—

Total funding sources
$
1,736,345

 
1.11

 
9,584

 
1,747,876

 
0.75

 
6,584

Net interest margin and net interest income on a taxable-equivalent basis (5)
  
 
2.86
%
 
$
24,724

 
  
 
2.89
%
 
$
25,109

Noninterest-earning assets
  
 
  
 
  
 
  
 
  
 
  
Cash and due from banks
$
19,544

 
 
 
 
 
18,730

 
 
 
 
Goodwill
26,417

 
 
 
 
 
26,480

 
 
 
 
Other
109,601

 
 
 
 
 
107,218

 
 
 
 
Total noninterest-earning assets
$
155,562

 
 
 
 
 
152,428

 
 
 
 
Noninterest-bearing funding sources
  
 
 
 
 
 
  
 
 
 
 
Deposits
$
340,061

 
 
 
 
 
359,854

 
 
 
 
Other liabilities
55,864

 
 
 
 
 
54,212

 
 
 
 
Total equity
199,021

 
 
 
 
 
206,123

 
 
 
 
Noninterest-bearing funding sources used to fund earning assets
(439,384
)
 
 
 
 
 
(467,761
)
 
 
 
 
Net noninterest-bearing funding sources
$
155,562

 
 
 
 
 
152,428

 
 
 
 
Total assets
$
1,891,907

 
 
 
 
 
1,900,304

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(4)
Nonaccrual loans and related income are included in their respective loan categories.
(5)
Includes taxable-equivalent adjustments of $156 million and $163 million for the quarters ended June 30, 2019 and 2018, respectively, and $318 million and $330 million for the first half of 2019 and 2018, respectively, predominantly related to tax-exempt income on certain loans and securities. The federal statutory tax rate utilized was 21% for the periods presented.


9

Noninterest Income
Table 2: Noninterest Income
 
Quarter ended June 30,
 
 
%

 
Six months ended June 30,
 
 
%

(in millions)
2019

 
2018

 
Change

 
2019

 
2018

 
Change

Service charges on deposit accounts
$
1,206

 
1,163

 
4
 %
 
$
2,300

 
2,336

 
(2
)%
Trust and investment fees:
 
 
 
 
 
 
 
 
 
 
 
Brokerage advisory, commissions and other fees
2,318

 
2,354

 
(2
)
 
4,511

 
4,757

 
(5
)
Trust and investment management
795

 
835

 
(5
)
 
1,581

 
1,685

 
(6
)
Investment banking
455

 
486

 
(6
)
 
849

 
916

 
(7
)
Total trust and investment fees
3,568

 
3,675

 
(3
)
 
6,941

 
7,358

 
(6
)
Card fees
1,025

 
1,001

 
2

 
1,969

 
1,909

 
3

Other fees:
 
 
 
 
 
 
 
 
 
 

Lending related charges and fees (1)
349

 
376

 
(7
)
 
696

 
756

 
(8
)
Cash network fees
117

 
120

 
(3
)
 
226

 
246

 
(8
)
Commercial real estate brokerage commissions
105

 
109

 
(4
)
 
186

 
194

 
(4
)
Wire transfer and other remittance fees
121

 
121

 
—

 
234

 
237

 
(1
)
All other fees
108

 
120

 
(10
)
 
228

 
213

 
7

Total other fees
800

 
846

 
(5
)
 
1,570


1,646

 
(5
)
Mortgage banking:
 
 
 
 
 
 
 
 
 
 

Servicing income, net
277

 
406

 
(32
)
 
641

 
874

 
(27
)
Net gains on mortgage loan origination/sales activities
481

 
364

 
32

 
825

 
830

 
(1
)
Total mortgage banking
758

 
770

 
(2
)
 
1,466


1,704

 
(14
)
Insurance
93

 
102

 
(9
)
 
189

 
216

 
(13
)
Net gains from trading activities
229

 
191

 
20

 
586

 
434

 
35

Net gains on debt securities
20

 
41

 
(51
)
 
145

 
42

 
245

Net gains from equity securities
622

 
295

 
111

 
1,436

 
1,078

 
33

Lease income
424

 
443

 
(4
)
 
867

 
898

 
(3
)
Life insurance investment income
167

 
162

 
3

 
326

 
326

 
—

All other
577

 
323

 
79

 
992

 
761

 
30

Total
$
9,489

 
9,012

 
5

 
$
18,787


18,708

 
—

(1)
Represents combined amount of previously reported “Charges and fees on loans” and “Letters of credit fees”.
Noninterest income was $9.5 billion and $18.8 billion in the second quarter and first half of 2019, respectively, compared with $9.0 billion and $18.7 billion for the same periods a year ago. This income represented 44% of revenue for second quarter 2019 and 43% of revenue for the first half of 2019, compared with 42% and 43% for the same periods a year ago. The increase in noninterest income in the second quarter and first half of 2019, compared with the same periods a year ago, was predominantly driven by higher net gains from equity securities and higher all other income. The increase in the first half of 2019, compared with the same period a year ago, also reflected higher net gains from trading and debt securities. The increases in both periods were partially offset by lower trust and investment fees and lower mortgage banking income. For more information on our performance obligations and the nature of services performed for certain of our revenues discussed below, see Note 18 (Revenue from Contracts with Customers) to Financial Statements in this Report.
Service charges on deposit accounts were $1.2 billion and
$2.3 billion in the second quarter and first half of 2019, respectively, flat compared with the same periods a year ago. In second quarter 2019, compared with the same period a year ago, higher consumer service charges due to growth in overdraft and returned items fees were offset by lower treasury management fees. In the first half of 2019, compared with the same period a year ago, lower treasury management fees and lower consumer monthly service fees were offset by higher overdraft and returned
 
items fees. The decline in treasury management fees in both the second quarter and first half of 2019, compared with the same periods a year ago, was primarily due to the impact of a higher earnings credit rate applied to commercial accounts due to increased interest rates.
Brokerage advisory, commissions and other fees decreased to $2.3 billion and $4.5 billion in the second quarter and first half of 2019, respectively, compared with $2.4 billion and $4.8 billion for the same periods a year ago. The decreases in both periods, compared with the same periods a year ago, were due to lower asset-based fees and lower transactional commission revenue. Retail brokerage client assets totaled $1.6 trillion at both June 30, 2019 and 2018, with all retail brokerage services provided by our Wealth and Investment Management (WIM) operating segment. For additional information on retail brokerage client assets, see the discussion and Tables 4d and 4e in the “Operating Segment Results – Wealth and Investment Management – Retail Brokerage Client Assets” section in this Report.
Trust and investment management fee income is largely from client assets under management (AUM) for which fees are based on a tiered scale relative to market value of the assets, and client assets under administration (AUA), for which fees are generally based on the extent of services to administer the assets. Trust and investment management fees declined to $795 million and $1.6 billion in the second quarter and first half of 2019, respectively, from $835 million and $1.7 billion for the same

10
Earnings Performance (continued)




periods a year ago. The decreases in both periods, compared with the same periods a year ago, were due to lower trust fees, investment management fees, and mutual fund asset fees, driven by lower average assets under management.
Our AUM totaled $682.0 billion at June 30, 2019, compared with $677.7 billion at June 30, 2018, with substantially all of our AUM managed by our WIM operating segment. Additional information regarding our WIM operating segment AUM is provided in Table 4f and the related discussion in the “Operating Segment Results – Wealth and Investment Management – Trust and Investment Client Assets Under Management” section in this Report.
Our AUA, which includes assets administered by our Institutional Retirement and Trust business (IRT), totaled $1.8 trillion at June 30, 2019, compared with $1.7 trillion at June 30, 2018. We closed the previously announced sale of IRT on July 1, 2019, and recognized a pre-tax gain of approximately $1.1 billion, which will be reflected in our third quarter 2019 net income. We will continue to administer client assets at the direction of the buyer for up to 24 months pursuant to a transition services agreement. The buyer will receive all post-closing revenue from the client assets and will pay us a fee for costs that we incur to administer the client assets during the transition period. The transition services fee will be recognized as other noninterest income. AUA related to IRT were $918 billion at June 30, 2019. Noninterest income related to IRT was $188 million and $398 million for the first half of 2019 and full year 2018, respectively. Direct expenses related to IRT were $130 million and $256 million for the first half of 2019 and full year 2018, respectively. Transition period revenue is expected to approximate transition period expenses and is subject to downward adjustment as client assets transition to the buyer's platform.
Investment banking fees decreased to $455 million and $849 million in the second quarter and first half of 2019, respectively, from $486 million and $916 million for the same periods in 2018, primarily due to lower equity and debt originations. The decrease in the first half of 2019, compared with the same period a year ago, was partially offset by higher advisory fees.
Card fees were $1.0 billion and $2.0 billion in the second quarter and first half of 2019, respectively, compared with $1.0 billion and $1.9 billion for the same periods a year ago. The increase in the first half of 2019, compared with the same period a year ago, was predominantly due to higher interchange fees driven by increased purchase activity, partially offset by higher rewards costs.
Other fees decreased to $800 million and $1.57 billion in the second quarter and first half of 2019, respectively, from $846 million and $1.65 billion for the same periods a year ago, driven primarily by lower lending related charges and fees. The first half of 2019, compared with the same period a year ago, was also impacted by lower cash network fees.
Mortgage banking noninterest income, consisting of net servicing income and net gains on mortgage loan origination/ sales activities, totaled $758 million and $1.5 billion in the second quarter and first half of 2019, respectively, compared with $770 million and $1.7 billion for the same periods a year ago.
In addition to servicing fees, net mortgage loan servicing income includes amortization of commercial mortgage servicing rights (MSRs), changes in the fair value of residential MSRs during the period, as well as changes in the value of derivatives (economic hedges) used to hedge the residential MSRs. Net servicing income of $277 million for second quarter 2019 included a $77 million net MSR valuation gain ($1.1 billion
 
decrease in the fair value of the MSRs and a $1.2 billion hedge gain). Net servicing income of $406 million for second quarter 2018 included a $26 million net MSR valuation gain ($345 million increase in the fair value of the MSRs and a $319 million hedge loss). For the first half of 2019, net servicing income of $641 million included a $148 million net MSR valuation gain ($2.0 billion decrease in the fair value of the MSRs and a $2.1 billion hedge gain), and for the first half of 2018, net servicing income of $874 million included a $136 million net MSR valuation gain ($1.7 billion increase in the fair value of the MSRs and a $1.5 billion hedge loss). The reduction in net servicing income for the second quarter and first half of 2019, compared with the same periods a year ago, also reflected lower net servicing fees due to servicing portfolio runoff and sales.
Our portfolio of loans serviced for others was $1.66 trillion at June 30, 2019, and $1.71 trillion at December 31, 2018. At June 30, 2019, the ratio of combined residential and commercial MSRs to related loans serviced for others was 0.82%, compared with 0.94% at December 31, 2018. See the “Risk Management – Asset/Liability Management – Mortgage Banking Interest Rate and Market Risk” section in this Report for additional information regarding our MSRs risks and hedging approach.
Net gains on mortgage loan origination/sales activities were $481 million and $825 million in the second quarter and first half of 2019, respectively, compared with $364 million and $830 million for the same periods a year ago. The increase in second quarter 2019, compared with the same period a year ago, was primarily due to higher production margins. The decrease in the first half of 2019, compared with the same period a year ago, was predominantly due to lower held for sale mortgage loan origination volumes, partially offset by higher margins and a higher repurchase reserve release in 2019. The production margin on residential held-for-sale mortgage loan originations, which represents net gains on residential mortgage loan origination/sales activities divided by total residential held-for-sale mortgage loan originations, provides a measure of the profitability of our residential mortgage origination activity. Table 2a presents the information used in determining the production margin.

Table 2a: Selected Mortgage Production Data
 
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
 
 
2019

2018

 
2019

2018

Net gains on mortgage loan origination/sales activities (in millions):
 
 
 
 
 
 
Residential
(A)
$
322

281

 
$
554

605

Commercial
 
83

49

 
130

125

Residential pipeline and unsold/repurchased loan management (1)
 
76

34

 
141

100

Total
 
$
481

364

 
$
825

830

Residential real estate originations (in billions):
 
 
 
 
 
 
Held-for-sale
(B)
$
33

37

 
$
55

71

Held-for-investment
 
20

13

 
31

22

Total
 
$
53

50

 
$
86

93

Production margin on residential held-for-sale mortgage loan originations
(A)/(B)
0.98
%
0.77

 
1.01
%
0.86

(1)
Primarily includes the results of Government National Mortgage Association (GNMA) loss mitigation activities, interest rate management activities and changes in estimate to the liability for mortgage loan repurchase losses.

11

The production margin was 0.98% and 1.01% for the second quarter and first half of 2019, respectively, compared with 0.77% and 0.86% for the same periods a year ago. The increase in production margin in the second quarter and first half of 2019, compared with the same periods a year ago, was predominantly due to higher margins in our correspondent production channel and a shift to more retail origination volume, which has a higher production margin. Mortgage applications were $90 billion and $154 billion for the second quarter and first half of 2019, respectively, compared with $67 billion and $125 billion for the same periods a year ago. The 1-4 family first mortgage unclosed application pipeline was $44 billion at June 30, 2019, compared with $26 billion at June 30, 2018. For additional information about our mortgage banking activities and results, see the “Risk Management – Asset/Liability Management – Mortgage Banking Interest Rate and Market Risk” section and Note 11 (Mortgage Banking Activities) and Note 16 (Fair Values of Assets and Liabilities) to Financial Statements in this Report.
Insurance income was $93 million and $189 million in the second quarter and first half of 2019, respectively, compared with $102 million and $216 million in the same periods a year ago. The decrease in the first half of 2019, compared with the same period a year ago, was largely driven by the wind down of our personal insurance business activities.
Net gains from trading activities, which reflect unrealized changes in fair value of our trading positions and realized gains and losses, were $229 million and $586 million in the second quarter and first half of 2019, respectively, compared with $191 million and $434 million in the same periods a year ago. The increase in the second quarter and first half of 2019, compared with the same periods a year ago, was predominantly from the Corporate and Investment Banking business in our Wholesale operating segment driven by higher trading volumes on residential mortgage-backed securities (RMBS), partially offset by lower equity trading activity. The increase in the first half of 2019, compared with same period a year ago, was also driven by higher credit and municipal bond trading activity. Net gains from trading activities do not include interest and dividend income and expense on trading securities. Those amounts are reported within interest income from debt and equity securities and other interest expense. For additional information about trading activities, see the “Risk Management – Asset/Liability Management – Market Risk-Trading Activities” section and Note 4 (Trading Activities) to Financial Statements in this Report.
 
Net gains on debt and equity securities totaled $642 million and $1.6 billion in the second quarter and first half of 2019, respectively, compared with $336 million and $1.1 billion for the same periods a year ago, after other-than-temporary impairment (OTTI) write-downs of $38 million and $119 million for the second quarter and first half of 2019, respectively, compared with $245 million and $275 million for the same periods a year ago. The increase in net gains on debt and equity securities in the second quarter and first half of 2019, compared with the same periods a year ago, was predominantly driven by higher unrealized gains on equity securities and higher deferred compensation gains (offset in employee benefits expense), partially offset by lower net realized gains from nonmarketable equity securities. Table 3a presents results for our deferred compensation plan and related investments. The increase in the first half of 2019, compared with the same period a year ago, also reflected higher net gains on debt securities. The decrease in OTTI in the second quarter and first half of 2019, compared with same periods a year ago, was predominantly driven by a $214 million impairment related to the sale of our ownership stake in The Rock Creek Group, LP (RockCreek) in second quarter 2018.
Lease income was $424 million and $867 million in the second quarter and first half of 2019, respectively, compared with $443 million and $898 million for the same periods a year ago. The decreases in the second quarter and first half of 2019, compared with the same periods a year ago, were driven by lower equipment lease income. Lease income in second quarter 2019 also reflected lower gains on the sale of lease assets, compared with the same period a year ago.
All other income was $577 million and $992 million in the second quarter and first half of 2019, respectively, compared with $323 million and $761 million for the same periods a year ago. All other income includes hedge accounting results related to hedges of foreign currency risk, the results of certain economic hedges, losses on low income housing tax credit investments, foreign currency adjustments, and income from investments accounted for under the equity method, any of which can cause decreases and net losses in other income. All other income included $721 million and $1.3 billion of gains from the sales of purchased credit-impaired (PCI) Pick-a-Pay loans in the second quarter and first half of 2019, respectively, compared with $479 million and $1.1 billion for the same periods a year ago. The increase in all other income in the first half of 2019, compared with the same period a year ago, also reflected a pre-tax gain from the sale of Business Payroll Services in first quarter 2019 and a loss related to the sale of certain assets and liabilities of Reliable Financial Services, Inc. (a subsidiary of Wells Fargo’s automobile financing business) in first quarter 2018, partially offset by a pretax gain from the sale of Wells Fargo Shareowner Services in first quarter 2018.


12
Earnings Performance (continued)




Noninterest Expense
Table 3: Noninterest Expense
 
Quarter ended June 30,
 
 
%

 
Six months ended June 30,
 
 
%

(in millions)
2019

 
2018

 
Change

 
2019

 
2018

 
Change

Salaries
$
4,541

 
4,465

 
2
 %
 
$
8,966

 
8,828

 
2
 %
Commission and incentive compensation
2,597

 
2,642

 
(2
)
 
5,442

 
5,410

 
1

Employee benefits
1,336

 
1,245

 
7

 
3,274

 
2,843

 
15

Equipment
607

 
550

 
10

 
1,268

 
1,167

 
9

Net occupancy (1)
719

 
722

 
—

 
1,436

 
1,435

 
—

Core deposit and other intangibles
27

 
265

 
(90
)
 
55

 
530

 
(90
)
FDIC and other deposit assessments
144

 
297

 
(52
)
 
303

 
621

 
(51
)
Outside professional services
821

 
881

 
(7
)
 
1,499

 
1,702

 
(12
)
Contract services
624

 
536

 
16

 
1,187

 
983

 
21

Operating losses
247

 
619

 
(60
)
 
485

 
2,087

 
(77
)
Leases (2)
311

 
311

 
—

 
597

 
631

 
(5
)
Advertising and promotion
329

 
227

 
45

 
566

 
380

 
49

Outside data processing
175

 
164

 
7

 
342

 
326

 
5

Travel and entertainment
163

 
157

 
4

 
310

 
309

 
—

Postage, stationery and supplies
119

 
121

 
(2
)
 
241

 
263

 
(8
)
Telecommunications
93

 
88

 
6

 
184

 
180

 
2

Foreclosed assets
35

 
44

 
(20
)
 
72

 
82

 
(12
)
Insurance
25

 
24

 
4

 
50

 
50

 
—

All other
536

 
624

 
(14
)
 
1,088

 
1,197

 
(9
)
Total
$
13,449

 
13,982

 
(4
)
 
$
27,365

 
29,024

 
(6
)
(1)
Represents expenses for both leased and owned properties.
(2)
Represents expenses for assets we lease to customers.

Noninterest expense was $13.4 billion in second quarter 2019, down 4% from $14.0 billion a year ago, and $27.4 billion in the first half of 2019, down 6% from the same period a year ago. The decrease in second quarter 2019, compared with the same period a year ago, was due to lower operating losses, core deposit and other intangibles expense, and FDIC and other deposit assessments, partially offset by higher personnel and advertising and promotion expenses. The decrease in the first half of 2019, compared with the same period a year ago, was predominantly due to lower operating losses.
Personnel expenses, which include salaries, commissions, incentive compensation, and employee benefits, were up $122 million, or 1%, in second quarter 2019, compared with the
 
same period a year ago, and up $601 million, or 4%, in the first half of 2019, compared with the same period a year ago. The increase in second quarter 2019, compared with the same period a year ago, was due to annual salary increases and higher deferred compensation costs (offset in net gains from equity securities), partially offset by lower incentive compensation and lower staffing levels. The increase in the first half of 2019, compared with the same period a year ago, was due to higher deferred compensation costs (offset in net gains from equity securities), annual salary increases and the impact of staffing mix changes. Table 3a presents results for our deferred compensation plan and related investments.
Table 3a: Deferred Compensation Plan and Related Investments
 
 Quarter ended
 
 
Six months ended
 
(in millions)
Jun 30,
2019

 
Jun 30,
2018

 
Jun 30,
2019

 
Jun 30,
2018

Net interest income
$
18

 
13

 
$
31

 
23

Net gains (losses) from equity securities
87

 
37

 
432

 
31

Total revenue from deferred compensation plan investments
105

 
50

 
463

 
54

Employee benefits expense (1)
114

 
53

 
471

 
57

Income (loss) before income tax expense
$
(9
)
 
(3
)
 
$
(8
)
 
(3
)
(1)
Represents change in deferred compensation plan liability.

Equipment expense was up $57 million, or 10%, in second quarter 2019, compared with the same period a year ago, and up $101 million, or 9%, in the first half of 2019, compared with the same period a year ago, in each case due to higher computer software licensing and maintenance and depreciation expense, partially offset by lower small furniture and equipment expense.
 
Core deposit and other intangibles expense was down $238 million, or 90%, in second quarter 2019, compared with the same period a year ago, and down $475 million, or 90%, in the first half of 2019, compared with the same period a year ago, in each case due to lower amortization expense reflecting the end of the 10-year amortization period on Wachovia intangibles.

13

Federal Deposit Insurance Corporation (FDIC) and other deposit assessments were down $153 million, or 52%, in second quarter 2019, compared with the same period a year ago, and down $318 million, or 51%, in the first half of 2019, compared with the same period a year ago. The decrease in both periods was due to the completion of the FDIC temporary surcharge, which ended September 30, 2018.
Outside professional and contract services expense was up $28 million, or 2%, in second quarter 2019, compared with the same period a year ago, and up $1 million in the first half of 2019, compared with the same period a year ago, reflecting an increase in project spending, partially offset by lower legal expenses in both periods.
Operating losses were down $372 million, or 60%, in second quarter 2019, compared with the same period a year ago, and down $1.6 billion, or 77%, in the first half of 2019, compared with the same period a year ago. The decrease in second quarter 2019, compared with the same period a year ago, reflected lower remediation expense, while the decrease in the first half of 2019, compared with the same period a year ago, was driven by lower litigation accruals. First quarter 2018 included an $800 million discrete litigation accrual in connection with entering into the consent orders with the CFPB and OCC on April 20, 2018.
Advertising and promotion expense was up $102 million, or 45%, in second quarter 2019, compared with the same period a year ago, and up $186 million, or 49%, in the first half of 2019, compared with the same period a year ago, in each case due to increases in marketing and brand campaign volumes.
All other expense was down $88 million, or 14%, in second quarter 2019, compared with the same period a year ago, and down $109 million, or 9%, in the first half of 2019, compared with the same period a year ago. The decrease in second quarter 2019, compared with the same period a year ago, reflected lower donations expense. The decrease in the first half of 2019, compared with the same period a year ago, included a state sales tax refund and lower donations expense.
 
Our efficiency ratio was 62.3% in second quarter 2019, compared with 64.9% in second quarter 2018.

Income Tax Expense
Our effective income tax rate was 17.3% and 15.3% for the second quarter and first half of 2019, respectively, compared with 25.9% and 23.6% for the same periods in 2018. The rate for the first half of 2019 reflected net discrete income tax benefits related to the results of U.S. federal and state income tax examinations. The rate in second quarter 2018 reflected a net discrete income tax expense of $481 million mostly related to state income taxes driven by the U.S. Supreme Court decision in South Dakota v. Wayfair. The rate for the first half of 2018 reflected the non-tax deductible treatment of an $800 million discrete litigation accrual recorded as noninterest expense in first quarter 2018 in connection with the consent orders entered into with the CFPB and OCC on April 20, 2018.
Operating Segment Results
We are organized for management reporting purposes into three operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management (WIM). These segments are defined by product type and customer segment and their results are based on our management accounting process, for which there is no comprehensive, authoritative financial accounting guidance equivalent to generally accepted accounting principles (GAAP). Table 4 and the following discussion present our results by operating segment. For additional description of our operating segments, including additional financial information and the underlying management accounting process, see Note 22 (Operating Segments) to Financial Statements in this Report.
Table 4: Operating Segment Results – Highlights
(income/expense in millions,
 
Community Banking
 
 
Wholesale Banking
 
 
Wealth and Investment Management
 
 
Other (1)
 
 
Consolidated
Company
 
average balances in billions)
 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

Quarter ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
11,805

 
11,806

 
7,065

 
7,197

 
4,050

 
3,951

 
(1,336
)
 
(1,401
)
 
21,584

 
21,553

Provision (reversal of provision) for credit losses
 
479

 
484

 
28

 
(36
)
 
(1
)
 
(2
)
 
(3
)
 
6

 
503

 
452

Noninterest expense
 
7,212

 
7,290

 
3,882

 
4,219

 
3,246

 
3,361

 
(891
)
 
(888
)
 
13,449

 
13,982

Net income (loss)
 
3,147

 
2,496

 
2,789

 
2,635

 
602

 
445

 
(332
)
 
(390
)
 
6,206

 
5,186

Average loans
 
$
457.7

 
463.8

 
474.0

 
464.7

 
75.0

 
74.7

 
(59.2
)
 
(59.1
)
 
947.5

 
944.1

Average deposits
 
777.6

 
760.6

 
410.4

 
414.0

 
143.5

 
167.1

 
(62.5
)
 
(70.4
)
 
1,269.0

 
1,271.3

Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
23,555

 
23,636

 
14,176

 
14,476

 
8,129

 
8,193

 
(2,667
)
 
(2,818
)
 
43,193

 
43,487

Provision (reversal of provision) for credit losses
 
1,189

 
702

 
162

 
(56
)
 
3

 
(8
)
 
(6
)
 
5

 
1,348

 
643

Noninterest expense
 
14,901

 
15,992

 
7,720

 
8,197

 
6,549

 
6,651

 
(1,805
)
 
(1,816
)
 
27,365

 
29,024

Net income (loss)
 
5,970

 
4,409

 
5,559

 
5,510

 
1,179

 
1,159

 
(642
)
 
(756
)
 
12,066

 
10,322

Average loans
 
$
457.9

 
467.1

 
475.2

 
464.9

 
74.7

 
74.3

 
(59.1
)
 
(58.8
)
 
948.7

 
947.5

Average deposits
 
771.6

 
754.1

 
410.1

 
429.9

 
148.3

 
172.5

 
(64.5
)
 
(72.3
)
 
1,265.5

 
1,284.2

(1)
Includes the elimination of certain items that are included in more than one business segment, which substantially represents products and services for WIM customers served through Community Banking distribution channels.

14
Earnings Performance (continued)




Community Banking offers a complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, mortgage, home equity and small business lending, as well as referrals to Wholesale Banking and WIM business partners. The Community Banking segment also includes the results of our Corporate Treasury activities net of allocations (including funds transfer pricing, capital, liquidity
 
and certain corporate expenses) in support of the other operating segments and results of investments in our affiliated venture capital and private equity partnerships. We have substantially completed the wind down of our personal insurance business, and we expect to fully exit this business by the end of 2019.
Table 4a provides additional financial information for Community Banking.
Table 4a: Community Banking
 
Quarter ended June 30,
 
 
 
 
Six months ended June 30,
 
 
 
(in millions, except average balances which are in billions)
2019

 
2018

 
% Change
 
2019

 
2018

 
% Change

Net interest income
$
7,066

 
7,346

 
(4
)%
 
$
14,314

 
14,541

 
(2
)%
Noninterest income:
 
 
 
 
 
 
 
 
 
 
 
Service charges on deposit accounts
704

 
632

 
11

 
1,314

 
1,271

 
3

Trust and investment fees:
 
 
 
 
 
 
 
 
 
 

Brokerage advisory, commissions and other fees (1)
480

 
465

 
3

 
929

 
943

 
(1
)
Trust and investment management (1)
199

 
220

 
(10
)
 
409

 
453

 
(10
)
Investment banking (2)
(18
)
 
—

 
NM

 
(38
)
 
(10
)
 
NM

Total trust and investment fees
661

 
685

 
(4
)
 
1,300

 
1,386

 
(6
)
Card fees
929

 
904

 
3

 
1,787

 
1,725

 
4

Other fees
335

 
348

 
(4
)
 
667

 
675

 
(1
)
Mortgage banking
655

 
695

 
(6
)
 
1,296

 
1,537

 
(16
)
Insurance
11

 
16

 
(31
)
 
22

 
44

 
(50
)
Net (losses) gains from trading activities
(11
)
 
24

 
NM

 
(6
)
 
23

 
NM

Net gains (losses) on debt securities
15

 
(2
)
 
850

 
52

 
(2
)
 
NM

Net gains from equity securities (3)
471

 
409

 
15

 
1,072

 
1,093

 
(2
)
Other income of the segment
969

 
749

 
29

 
1,737

 
1,343

 
29

Total noninterest income
4,739

 
4,460

 
6

 
9,241

 
9,095

 
2

 
 
 
 
 
 
 
 
 
 
 

Total revenue
11,805

 
11,806

 
—

 
23,555

 
23,636

 
—

 
 
 
 
 
 
 
 
 
 
 

Provision for credit losses
479

 
484

 
(1
)
 
1,189

 
702

 
69

Noninterest expense:
 
 
 
 
 
 
 
 
 
 

Personnel expense
5,436

 
5,400

 
1

 
11,417

 
10,911

 
5

Equipment
584

 
525

 
11

 
1,225

 
1,121

 
9

Net occupancy
542

 
542

 
—

 
1,084

 
1,076

 
1

Core deposit and other intangibles
—

 
102

 
(100
)
 
1

 
203

 
(100
)
FDIC and other deposit assessments
94

 
155

 
(39
)
 
200

 
336

 
(40
)
Outside professional services
387

 
430

 
(10
)
 
703

 
827

 
(15
)
Operating losses
197

 
287

 
(31
)
 
416

 
1,727

 
(76
)
Other expense of the segment
(28
)
 
(151
)
 
81

 
(145
)
 
(209
)
 
31

Total noninterest expense
7,212

 
7,290

 
(1
)
 
14,901

 
15,992

 
(7
)
Income before income tax expense and noncontrolling interests
4,114

 
4,032

 
2

 
7,465

 
6,942

 
8

Income tax expense
838

 
1,413

 
(41
)
 
1,262

 
2,222

 
(43
)
Net income from noncontrolling interests (4)
129

 
123

 
5

 
233

 
311

 
(25
)
Net income
$
3,147

 
2,496

 
26

 
$
5,970

 
4,409

 
35

Average loans
$
457.7

 
463.8

 
(1
)
 
$
457.9

 
467.1

 
(2
)
Average deposits
777.6

 
760.6

 
2

 
771.6

 
754.1

 
2

NM – Not meaningful
(1)
Represents income on products and services for WIM customers served through Community Banking distribution channels which is offset in our WIM segment and eliminated in consolidation.
(2)
Includes syndication and underwriting fees paid to Wells Fargo Securities which are offset in our Wholesale Banking segment and eliminated in consolidation.
(3)
Mostly represents gains resulting from venture capital investments.
(4)
Reflects results attributable to noncontrolling interests predominantly associated with the Company’s consolidated venture capital investments.
Community Banking reported net income of $3.1 billion, up $651 million, or 26%, from second quarter 2018, and $6.0 billion for the first half of 2019, up $1.6 billion, or 35%, compared with the same period a year ago. Revenue of $11.8 billion was flat compared with second quarter 2018 and was $23.6 billion for the first half of 2019, a decrease of $81 million compared with the same period a year ago. Revenue in second quarter 2019 was flat, compared with the same period a year ago, as lower net interest income, mortgage banking income, and net gains from trading activities were offset by higher gains from the sales of Pick-a-Pay PCI mortgage loans, service charges on deposit accounts, and net gains from equity securities. The decrease in revenue in the first half of 2019, compared with the same period a year ago, was due to lower mortgage banking income, net interest income, and trust and investment fees, partially offset by higher gains from the sales of Pick-a-Pay PCI mortgage loans, card fees, and net gains from debt securities. Average loans of $457.7 billion in second
 
quarter 2019 decreased $6.1 billion, or 1%, from second quarter 2018, and average loans of $457.9 billion in the first half of 2019 decreased $9.2 billion, or 2%, from the first half of 2018. The decline in average loans for both periods was predominantly due to lower junior lien mortgages and automobile loans, partially offset by higher real estate 1-4 family first mortgages and credit cards. Average deposits of $777.6 billion in second quarter 2019 increased $17.0 billion, or 2%, from second quarter 2018, and increased $17.5 billion, or 2%, from the first half of 2018.
Noninterest expense was $7.2 billion in second quarter 2019, down $78 million, or 1%, from second quarter 2018, and $14.9 billion in the first half of 2019, down $1.1 billion, or 7%, from the first half of 2018. The decrease in noninterest expense for both periods was predominantly due to lower operating losses, core deposit and other intangibles amortization, FDIC expense, and outside professional services, partially offset by higher personnel, equipment, contract services, and advertising

15

and promotion expense. The provision for credit losses was down $5 million from second quarter 2018 and up $487 million from the first half of 2018. The increase in the provision for credit losses in the first half of 2019, compared with the same period a year ago, was due to an allowance release in the first half of 2018, partially offset by lower net charge-offs in the automobile portfolio in the first half of 2019. Income tax expense decreased $575 million from second quarter 2018, driven by a net discrete income tax expense of $481 million in second quarter 2018 mostly related to state income taxes. Income tax expense decreased $960 million in the first half of 2019, compared with the same period a year ago, driven by net discrete income tax benefits in the first half of 2019 related mostly to the results of
 
U.S. federal and state income tax examinations as well as the aforementioned net discrete income tax expense in the first half of 2018.

Wholesale Banking provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $5 million. Products and businesses include Commercial Banking, Commercial Real Estate, Corporate and Investment Banking, Credit Investment Portfolio, Treasury Management, and Commercial Capital. Table 4b provides additional financial information for Wholesale Banking.
Table 4b: Wholesale Banking
 
Quarter ended June 30,
 
 
 
 
Six months ended June 30,
 
 
 
(in millions, except average balances which are in billions)
2019

 
2018

 
% Change
 
2019

 
2018

 
% Change

Net interest income
$
4,535

 
4,693

 
(3
)%
 
$
9,069

 
9,225

 
(2
)%
Noninterest income:
 
 
 
 
 
 
 
 
 
 
 
Service charges on deposit accounts
502

 
530

 
(5
)
 
985

 
1,064

 
(7
)
Trust and investment fees:
 
 
 
 
 
 
 
 
 
 

Brokerage advisory, commissions and other fees
74

 
78

 
(5
)
 
152

 
145

 
5

Trust and investment management
117

 
110

 
6

 
231

 
223

 
4

Investment banking
475

 
485

 
(2
)
 
887

 
925

 
(4
)
Total trust and investment fees
666

 
673

 
(1
)
 
1,270

 
1,293

 
(2
)
Card fees
95

 
96

 
(1
)
 
181

 
183

 
(1
)
Other fees
464

 
496

 
(6
)
 
901

 
968

 
(7
)
Mortgage banking
104

 
75

 
39

 
172

 
168

 
2

Insurance
75

 
78

 
(4
)
 
153

 
157

 
(3
)
Net gains from trading activities
226

 
154

 
47

 
559

 
379

 
47

Net gains on debt securities
5

 
42

 
(88
)
 
93

 
43

 
116

Net gains from equity securities
116

 
89

 
30

 
193

 
182

 
6

Other income of the segment
277

 
271

 
2

 
600

 
814

 
(26
)
Total noninterest income
2,530

 
2,504

 
1

 
5,107

 
5,251

 
(3
)
 
 
 
 
 
 
 
 
 
 
 

Total revenue
7,065

 
7,197

 
(2
)
 
14,176

 
14,476

 
(2
)
 
 
 
 
 
 
 
 
 
 
 

Provision (reversal of provision) for credit losses
28

 
(36
)
 
178

 
162

 
(56
)
 
389

Noninterest expense:
 
 
 
 
 
 
 
 
 
 

Personnel expense
1,384

 
1,386

 
—

 
2,894

 
2,922

 
(1
)
Equipment
10

 
14

 
(29
)
 
19

 
26

 
(27
)
Net occupancy
96

 
100

 
(4
)
 
191

 
200

 
(5
)
Core deposit and other intangibles
23

 
94

 
(76
)
 
47

 
189

 
(75
)
FDIC and other deposit assessments
44

 
122

 
(64
)
 
89

 
244

 
(64
)
Outside professional services
231

 
255

 
(9
)
 
415

 
488

 
(15
)
Operating losses
10

 
208

 
(95
)
 
11

 
216

 
(95
)
Other expense of the segment
2,084

 
2,040

 
2

 
4,054

 
3,912

 
4

Total noninterest expense
3,882

 
4,219

 
(8
)
 
7,720

 
8,197

 
(6
)
Income before income tax expense and noncontrolling interests
3,155

 
3,014

 
5

 
6,294

 
6,335

 
(1
)
Income tax expense
365

 
379

 
(4
)
 
734

 
827

 
(11
)
Net loss from noncontrolling interests
1

 
—

 
NM

 
1

 
(2
)
 
150

Net income
$
2,789

 
2,635

 
6

 
$
5,559

 
5,510

 
1

Average loans
$
474.0

 
464.7

 
2

 
$
475.2

 
464.9

 
2

Average deposits
410.4

 
414.0

 
(1
)
 
410.1

 
429.9

 
(5
)
NM – Not meaningful
Wholesale Banking reported net income of $2.8 billion in second quarter 2019, up $154 million, or 6%, from second quarter 2018. In the first half of 2019, net income of $5.6 billion increased $49.0 million, or 1%, from the same period a year ago. Revenue decreased $132 million, or 2%, from second quarter 2018, largely due to lower net interest income and treasury management fees, partially offset by higher market sensitive revenue and mortgage banking fees. Revenue decreased $300 million, or 2%, from the first half of 2018, predominantly due to the gain related to the sale of Wells Fargo Shareowner Services in first quarter 2018 and lower net interest income, partially offset by higher market sensitive revenue. Net interest income decreased $158 million, or 3%, from second quarter 2018, and $156 million, or 2%, from the first half of 2018, as lower
 
income on trading and debt investments and lower income on loans due to spread compression was partially offset by higher average loan balances and the positive impact of higher interest rates. Noninterest income increased $26 million, or 1%, from second quarter 2018, as higher market sensitive revenue was partially offset by lower treasury management fees related to an increased earnings credit rate provided to customers. Noninterest income decreased $144 million, or 3%, from the first half of 2018 predominantly due to the gain related to the sale of Wells Fargo Shareowner Services in first quarter 2018, lower treasury management fees, loan fees, and investment banking fees, partially offset by higher market sensitive revenue. Average loans of $474.0 billion in second quarter 2019 increased $9.3 billion, or 2%, from second quarter 2018, and average loans of

16
Earnings Performance (continued)




$475.2 billion in the first half of 2019 increased $10.3 billion, or 2%, from the first half of 2018, as growth in commercial and industrial loans was partially offset by lower commercial real estate loans. Average deposits of $410.4 billion in second quarter 2019 decreased $3.6 billion, or 1%, from second quarter 2018, and average deposits of $410.1 billion in the first half of 2019 decreased $19.8 billion, or 5%, from the first half of 2018. The decline in average deposits for both periods was driven by declines across many businesses as commercial customers allocated more cash to alternative higher-rate liquid investments. The decline from the first half of 2018 was also affected by actions taken in 2018 in response to the asset cap included in the FRB consent order on February 2, 2018. Noninterest expense decreased $337 million, or 8%, from second quarter 2018, and decreased $477 million, or 6%, from the first half of 2018 as lower operating losses, FDIC expense, and core deposit and other intangibles amortization, were partially offset by higher regulatory, risk, and technology expenses. The provision for credit losses increased $64 million from second quarter 2018, and $218 million from the first half of 2018, reflecting higher charge-offs and lower recoveries.
 
Wealth and Investment Management provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S. based businesses including Wells Fargo Advisors, The Private Bank, Abbot Downing, Wells Fargo Institutional Retirement and Trust, and Wells Fargo Asset Management. We deliver financial planning, private banking, credit, investment management and fiduciary services to high-net worth and ultra-high-net worth individuals and families. We also serve clients’ brokerage needs, supply retirement and trust services to institutional clients and provide investment management capabilities delivered to global institutional clients through separate accounts and the Wells Fargo Funds. The previously announced sale of our IRT business closed on July 1, 2019. For additional information on the IRT sale, including its anticipated impact on our AUA and associated revenue and expenses, see the “Noninterest Income” section in this Report. Table 4c provides additional financial information for WIM.
Table 4c: Wealth and Investment Management
 
Quarter ended June 30,
 
 
 
 
Six months ended June 30,
 
 
 
(in millions, except average balances which are in billions)
2019

 
2018

 
% Change
 
2019

 
2018

 
% Change

Net interest income
$
1,037

 
1,111

 
(7
)%
 
$
2,138

 
2,223

 
(4
)%
Noninterest income:
 
 
 
 
 
 
 
 
 
 
 
Service charges on deposit accounts
4

 
5

 
(20
)
 
8

 
9

 
(11
)
Trust and investment fees:
 
 
 
 
 
 
 
 
 
 
 
Brokerage advisory, commissions and other fees
2,248

 
2,284

 
(2
)
 
4,372

 
4,628

 
(6
)
Trust and investment management
687

 
731

 
(6
)
 
1,363

 
1,474

 
(8
)
Investment banking
(1
)
 
1

 
NM

 
4

 
1

 
300

Total trust and investment fees
2,934

 
3,016

 
(3
)
 
5,739

 
6,103

 
(6
)
Card fees
2

 
2

 
—

 
3

 
3

 
—

Other fees
4

 
5

 
(20
)
 
8

 
9

 
(11
)
Mortgage banking
(3
)
 
(2
)
 
(50
)
 
(6
)
 
(5
)
 
(20
)
Insurance
17

 
18

 
(6
)
 
34

 
36

 
(6
)
Net gains from trading activities
13

 
13

 
—

 
32

 
32

 
—

Net gains on debt securities
—

 
1

 
(100
)
 
—

 
1

 
(100
)
Net gains (losses) from equity securities
35

 
(203
)
 
117

 
171

 
(197
)
 
187

Other income of the segment
7

 
(15
)
 
147

 
2

 
(21
)
 
110

Total noninterest income
3,013

 
2,840

 
6

 
5,991

 
5,970

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Total revenue
4,050

 
3,951

 
3

 
8,129

 
8,193

 
(1
)
 
 
 
 
 
 
 
 
 
 
 
 
Provision (reversal of provision) for credit losses
(1
)
 
(2
)
 
50

 
3

 
(8
)
 
138

Noninterest expense:
 
 
 
 
 
 
 
 
 
 
 
Personnel expense
2,112

 
2,037

 
4

 
4,309

 
4,202

 
3

Equipment
14

 
11

 
27

 
25

 
21

 
19

Net occupancy
112

 
110

 
2

 
224

 
219

 
2

Core deposit and other intangibles
4

 
69

 
(94
)
 
7

 
138

 
(95
)
FDIC and other deposit assessments
12

 
34

 
(65
)
 
26

 
70

 
(63
)
Outside professional services
210

 
202

 
4

 
394

 
400

 
(2
)
Operating losses
43

 
127

 
(66
)
 
64

 
149

 
(57
)
Other expense of the segment
739

 
771

 
(4
)
 
1,500

 
1,452

 
3

Total noninterest expense
3,246

 
3,361

 
(3
)
 
6,549

 
6,651

 
(2
)
Income before income tax expense and noncontrolling interests
805

 
592

 
36

 
1,577

 
1,550

 
2

Income tax expense
201

 
147

 
37

 
393

 
386

 
2

Net income from noncontrolling interests
2

 
—

 
NM

 
5

 
5

 
—

Net income
$
602

 
445

 
35

 
$
1,179

 
1,159

 
2

Average loans
$
75.0

 
74.7

 
—

 
$
74.7

 
74.3

 
1

Average deposits
143.5

 
167.1

 
(14
)
 
148.3

 
172.5

 
(14
)
NM – Not meaningful
WIM reported net income of $602 million in second quarter 2019, up $157 million, or 35%, from second quarter 2018. Net income for the first half of 2019 was $1.2 billion, up $20 million, or 2%, from the same period a year ago. Revenue was up $99 million, or 3%, from second quarter 2018, and down $64 million, or 1%, from the first half of 2018. Revenue in second
 
quarter 2019 was up from second quarter 2018 largely due to the 2018 impairment on the sale of our ownership stake in RockCreek and higher deferred compensation plan investments (offset in employee benefits expense), partially offset by lower trust and investment fees and lower net interest income. Revenue in the first half of 2019 was down from the first half of 2018

17

predominantly due to lower trust and investment fees and lower net interest income, partially offset by the 2018 impairment on the sale of our ownership stake in RockCreek and higher deferred compensation plan investments (offset in employee benefits expense). Net interest income decreased 7% from second quarter 2018, and 4% from the first half of 2018, primarily driven by lower deposit balances in both periods. Noninterest income increased $173 million from second quarter 2018, and $21 million from the first half of 2018, in both periods primarily due to the 2018 impairment on the sale of our ownership stake in RockCreek and higher deferred compensation plan investments (offset in employee benefits expense), partially offset by lower asset-based fees and lower brokerage transaction revenue. Asset-based fees decreased due to lower brokerage advisory account client assets driven by lower market valuations at the end of 2018. Average loans of $75.0 billion in second quarter 2019 were flat compared with the same period a year ago, while average loans of $74.7 billion in the first half of 2019 increased 1% from the same period a year ago, driven by growth in nonconforming mortgage loans. Average deposits of $143.5 billion in second quarter 2019 decreased $23.6 billion, or 14%, from second quarter 2018, and average deposits of $148.3 billion in the first half of 2019 decreased $24.2 billion, or 14%, from the first half of 2018, as customers continued to allocate more cash into higher yielding liquid alternatives. Noninterest expense was down 3% from second quarter 2018, and down 2% from the first half of 2018, in both periods driven by lower core deposit and other intangibles amortization expense, lower operating losses, and lower broker commissions, partially offset by higher employee benefits expense primarily from higher deferred compensation
 
plan expense (offset in net gains from equity securities). Second quarter 2018 operating losses included $114 million of non-litigation expense related to fee calculations within certain fiduciary and custody accounts in our wealth management business. The provision for credit losses increased $1 million from second quarter 2018 and $11 million from the first half of 2018.
The following discussions provide additional information for client assets we oversee in our retail brokerage advisory and trust and investment management business lines.

Retail Brokerage Client Assets Brokerage advisory, commissions and other fees are received for providing full-service and discount brokerage services predominantly to retail brokerage clients. Offering advisory account relationships to our brokerage clients is an important component of our broader strategy of meeting their financial needs. Although a majority of our retail brokerage client assets are in accounts that earn brokerage commissions, the fees from those accounts generally represent transactional commissions based on the number and size of transactions executed at the client’s direction. Fees from advisory accounts are based on a percentage of the market value of the assets as of the beginning of the quarter, which vary across the account types based on the distinct services provided, and are affected by investment performance as well as asset inflows and outflows. A majority of our brokerage advisory, commissions and other fee income is earned from advisory accounts. Table 4d shows advisory account client assets as a percentage of total retail brokerage client assets at June 30, 2019 and 2018.
Table 4d: Retail Brokerage Client Assets
 
June 30,
 
($ in billions)
2019

 
2018

Retail brokerage client assets
$
1,620.5

 
1,623.7

Advisory account client assets
561.3

 
542.6

Advisory account client assets as a percentage of total client assets
35
%
 
33

Retail Brokerage advisory accounts include assets that are financial advisor-directed and separately managed by third-party managers, as well as certain client-directed brokerage assets where we earn a fee for advisory and other services, but do not have investment discretion. For second quarter 2019 and 2018, the average fee rate by account type ranged from 80 to 120 basis points. Table 4e presents retail brokerage advisory account client assets activity by account type for the second quarter and first half of 2019 and 2018.

18
Earnings Performance (continued)




Table 4e: Retail Brokerage Advisory Account Client Assets
 
Quarter ended
 
 
Six months ended
 
(in billions)
Balance, beginning of period

Inflows (1)

Outflows (2)

Market impact (3)

Balance, end of period

 
Balance, beginning of period

Inflows (1)

Outflows (2)

Market impact (3)

Balance, end of period

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Client directed (4)
$
163.6

8.6

(9.7
)
3.7

166.2

 
$
151.5

16.5

(19.0
)
17.2

166.2

Financial advisor directed (5)
156.9

8.6

(8.7
)
6.4

163.2

 
141.9

16.1

(16.4
)
21.6

163.2

Separate accounts (6)
148.3

6.2

(8.0
)
5.4

151.9

 
136.4

11.8

(14.9
)
18.6

151.9

Mutual fund advisory (7)
77.9

2.9

(3.5
)
2.7

80.0

 
71.3

5.7

(6.7
)
9.7

80.0

Total advisory client assets
$
546.7

26.3

(29.9
)
18.2

561.3

 
$
501.1

50.1

(57.0
)
67.1

561.3

June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Client directed (4)
$
168.4

8.2

(11.1
)
2.0

167.5

 
$
170.9

17.6

(20.3
)
(0.7
)
167.5

Financial advisor directed (5)
148.6

7.5

(9.5
)
3.4

150.0

 
147.0

15.6

(16.5
)
3.9

150.0

Separate accounts (6)
146.6

5.6

(7.0
)
2.0

147.2

 
149.1

12.4

(14.3
)
—

147.2

Mutual fund advisory (7)
76.8

3.2

(3.3
)
1.2

77.9

 
75.8

7.2

(6.3
)
1.2

77.9

Total advisory client assets
$
540.4

24.5

(30.9
)
8.6

542.6

 
$
542.8

52.8

(57.4
)
4.4

542.6

(1)
Inflows include new advisory account assets, contributions, dividends and interest.
(2)
Outflows include closed advisory account assets, withdrawals, and client management fees.
(3)
Market impact reflects gains and losses on portfolio investments.
(4)
Investment advice and other services are provided to client, but decisions are made by the client and the fees earned are based on a percentage of the advisory account assets, not the number and size of transactions executed by the client.
(5)
Professionally managed portfolios with fees earned based on respective strategies and as a percentage of certain client assets.
(6)
Professional advisory portfolios managed by Wells Fargo Asset Management or third-party asset managers. Fees are earned based on a percentage of certain client assets.
(7)
Program with portfolios constructed of load-waived, no-load and institutional share class mutual funds. Fees are earned based on a percentage of certain client assets.
Trust and Investment Client Assets Under Management We earn trust and investment management fees from managing and administering assets, including mutual funds, institutional separate accounts, personal trust, employee benefit trust and agency assets through our asset management, wealth and retirement businesses. Our asset management business is conducted by Wells Fargo Asset Management (WFAM), which offers Wells Fargo proprietary mutual funds and manages institutional separate accounts. Our wealth business manages
 
assets for high net worth clients, and our retirement business provides total retirement management, investments, and trust and custody solutions tailored to meet the needs of institutional clients. Substantially all of our trust and investment management fee income is earned from AUM where we have discretionary management authority over the investments and generate fees as a percentage of the market value of the AUM. Table 4f presents AUM activity for the second quarter and first half of 2019 and 2018.
Table 4f: WIM Trust and Investment – Assets Under Management
 
Quarter ended
 

Six months ended
 
(in billions)
Balance, beginning of period

Inflows (1)

Outflows (2)

Market impact (3)

Balance, end of period

 
Balance, beginning of period

Inflows (1)

Outflows (2)

Market impact (3)

Balance, end of period

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Assets managed by WFAM (4):
 
 
 
 


 
 
 
 
 
 
Money market funds (5)
$
109.5

10.3

—

—

119.8

 
$
112.4

7.4

—

—

119.8

Other assets managed
367.0

22.2

(23.0
)
9.1

375.3

 
353.5

41.5

(44.9
)
25.2

375.3

Assets managed by Wealth and Retirement (6)
181.4

8.2

(11.2
)
3.5

181.9

 
170.7

17.4

(21.6
)
15.4

181.9

Total assets under management
$
657.9

40.7

(34.2
)
12.6

677.0

 
$
636.6

66.3

(66.5
)
40.6

677.0

June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Assets managed by WFAM (4):

 

 

 
 
 
 
 
 
Money market funds (5)
$
105.0

2.7

—

—

107.7

 
$
108.2

—

(0.5
)
—

107.7

Other assets managed
391.8

20.9

(27.3
)
1.1

386.5

 
395.7

46.6

(56.5
)
0.7

386.5

Assets managed by Wealth and Retirement (6)
183.3

9.1

(10.3
)
1.1

183.2

 
186.2

19.5

(21.7
)
(0.8
)
183.2

Total assets under management
$
680.1

32.7

(37.6
)
2.2

677.4

 
$
690.1

66.1

(78.7
)
(0.1
)
677.4

(1)
Inflows include new managed account assets, contributions, dividends and interest.
(2)
Outflows include closed managed account assets, withdrawals and client management fees.
(3)
Market impact reflects gains and losses on portfolio investments.
(4)
Assets managed by WFAM consist of equity, alternative, balanced, fixed income, money market, and stable value, and include client assets that are managed or sub-advised on behalf of other Wells Fargo lines of business.
(5)
Money Market funds activity is presented on a net inflow or net outflow basis, because the gross flows are not meaningful nor used by management as an indicator of performance.
(6)
Includes $4.5 billion and $5.2 billion as of June 30, 2019 and 2018, respectively, of client assets invested in proprietary funds managed by WFAM.


19

Balance Sheet Analysis 
At June 30, 2019, our assets totaled $1.92 trillion, up $27.5 billion from December 31, 2018. The asset growth was driven by increases in federal funds sold and securities purchased under resale agreements and equity securities, which increased by $31.9 billion and $6.4 billion, respectively, from December 31, 2018. Liabilities totaled $1.72 trillion, up $24.5 billion from December 31, 2018. The increase in liabilities was due to increases in short-term borrowings and long-term debt, which increased by $9.6 billion and $12.4 billion, respectively, from December 31, 2018. Total equity increased by $3.0 billion from December 31, 2018, predominantly due to a $4.1 billion increase
 
in cumulative other comprehensive income driven largely by the increase in fair value of available-for-sale debt securities, and a $6.4 billion increase in retained earnings, net of dividends paid, partially offset by a $7.6 billion increase in treasury stock.
The following discussion provides additional information about the major components of our balance sheet. Information regarding our capital and changes in our asset mix is included in the “Earnings Performance – Net Interest Income” and “Capital Management” sections and Note 23 (Regulatory and Agency Capital Requirements) to Financial Statements in this Report.

Available-for-Sale and Held-to-Maturity Debt Securities
Table 5: Available-for-Sale and Held-to-Maturity Debt Securities
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Amortized cost

 
Net
 unrealized
gain (loss)

 
Fair value

 
Amortized cost

 
Net
unrealized
gain (loss)

 
Fair value

Available-for-sale
263,458

 
2,525

 
265,983

 
272,471

 
(2,559
)
 
269,912

Held-to-maturity
145,876

 
1,988

 
147,864

 
144,788

 
(2,673
)
 
142,115

Total (1)
$
409,334

 
4,513

 
413,847

 
417,259

 
(5,232
)
 
412,027

(1)
Available-for-sale debt securities are carried on the balance sheet at fair value. Held-to-maturity debt securities are carried on the balance sheet at amortized cost.
Table 5 presents a summary of our available-for-sale and held-to-maturity debt securities, which decreased $2.8 billion in balance sheet carrying value from December 31, 2018, largely due to net declines in securities of U.S. states and political subdivisions and collateralized debt obligations, partially offset by net purchases of U.S. Treasury and federal agency debt securities.
The total net unrealized gains on available-for-sale debt securities were $2.5 billion at June 30, 2019, up from net unrealized losses of $2.6 billion at December 31, 2018, primarily due to lower U.S. interest rates. For a discussion of our investment management objectives and practices, see the “Balance Sheet Analysis” section in our 2018 Form 10-K. Also, see the “Risk Management – Asset/Liability Management” section in this Report for information on our use of investments to manage liquidity and interest rate risk.
We analyze debt securities for OTTI quarterly or more often if a potential loss-triggering event occurs. In the first half of 2019, we recognized $52 million of OTTI write-downs on debt securities. For a discussion of our OTTI accounting policies and underlying considerations and analysis, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K and Note 5 (Available-for-Sale and Held-to-Maturity Debt Securities) to Financial Statements in this Report.
At June 30, 2019, debt securities included $53.0 billion of municipal bonds, of which 96.1% were rated “A-” or better based predominantly on external and, in some cases, internal ratings. Additionally, some of the debt securities in our total municipal bond portfolio are guaranteed against loss by bond insurers. These guaranteed bonds are predominantly investment grade and were generally underwritten in accordance with our own investment standards prior to the determination to purchase, without relying on the bond insurer’s guarantee in making the investment decision. The credit quality of our municipal bond holdings are monitored as part of our ongoing impairment analysis.
 
The weighted-average expected maturity of debt securities available-for-sale was 5.0 years at June 30, 2019. The expected remaining maturity is shorter than the remaining contractual maturity for the 61% of this portfolio that is mortgage-backed securities (MBS) because borrowers generally have the right to prepay obligations before the underlying mortgages mature. The estimated effects of a 200 basis point increase or decrease in interest rates on the fair value and the expected remaining maturity of the MBS available-for-sale portfolio are shown in Table 6.
Table 6: Mortgage-Backed Securities Available for Sale
(in billions)
Fair value

 
Net unrealized gain (loss)

 
Expected remaining maturity
(in years)
At June 30, 2019
 
 
 
 
 
Actual
$
161.3

 
1.4

 
4.5
Assuming a 200 basis point:
 
 
 
 
 
Increase in interest rates
146.0

 
(13.9
)
 
6.8
Decrease in interest rates
170.7

 
10.8

 
3.3
The weighted-average expected maturity of debt securities held-to-maturity (HTM) was 4.5 years at June 30, 2019. HTM debt securities are measured at amortized cost and, therefore, changes in the fair value of our held-to-maturity MBS resulting from changes in interest rates are not recognized in our financial results. See Note 5 (Available-for-Sale and Held-to-Maturity Debt Securities) to Financial Statements in this Report for a summary of debt securities by security type.



20
Balance Sheet Analysis (continued)

Loan Portfolios
Table 7 provides a summary of total outstanding loans by portfolio segment. Total loans decreased $3.2 billion from December 31, 2018, with a decline in both commercial and consumer loans. Consumer loans were down $2.1 billion from December 31, 2018, as growth in the real estate 1-4 family first mortgage and automobile loan portfolios was more than offset by the sale of $3.5 billion of Pick-a-Pay PCI loans, the
 
reclassification of $1.8 billion of real estate 1-4 family first mortgage loans to MLHFS, and a decline in junior lien mortgage loans as paydowns continued to exceed originations in the first half of 2019. Commercial loans were down $1.2 billion from December 31, 2018, as growth in our credit investment portfolio was more than offset by declines across several commercial industry categories.
Table 7: Loan Portfolios
(in millions)
June 30, 2019

 
December 31, 2018

Commercial
$
512,245

 
513,405

Consumer
437,633

 
439,705

Total loans
$
949,878

 
953,110

Change from prior year-end
$
(3,232
)
 
(3,660
)

A discussion of average loan balances and a comparative detail of average loan balances is included in Table 1 under “Earnings Performance – Net Interest Income” earlier in this Report. Additional information on total loans outstanding by portfolio segment and class of financing receivable is included in the “Risk Management – Credit Risk Management” section in this Report. Period-end balances and other loan related
 
information are in Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report. 
Table 8 shows contractual loan maturities for loan categories normally not subject to regular periodic principal reduction and the contractual distribution of loans in those categories to changes in interest rates.
Table 8: Maturities for Selected Commercial Loan Categories
 
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
 
Within
one
 year

 
After one
year
through
five years

 
After
 five
years

 
Total

 
Within
one
year

 
After one
year
through
 five years

 
After
five
years

 
Total

Selected loan maturities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
109,939

 
210,083

 
28,824

 
348,846

 
109,566

 
213,425

 
27,208

 
350,199

Real estate mortgage
 
16,089

 
65,324

 
41,595

 
123,008

 
16,413

 
63,648

 
40,953

 
121,014

Real estate construction
 
9,663

 
10,575

 
829

 
21,067

 
9,958

 
11,343

 
1,195

 
22,496

Total selected loans
 
$
135,691

 
285,982

 
71,248

 
492,921

 
135,937

 
288,416

 
69,356

 
493,709

Distribution of loans to changes in interest
rates:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans at fixed interest rates
 
$
17,815

 
26,912

 
28,872

 
73,599

 
17,619

 
28,545

 
28,163

 
74,327

Loans at floating/variable interest rates
 
117,876

 
259,070

 
42,376

 
419,322

 
118,318

 
259,871

 
41,193

 
419,382

Total selected loans
 
$
135,691

 
285,982

 
71,248

 
492,921

 
135,937

 
288,416

 
69,356

 
493,709



21

Deposits
Deposits were $1.3 trillion at June 30, 2019, up $2.3 billion from December 31, 2018, due to an increase in mortgage escrow deposits reflecting an inflow of higher mortgage payoffs to be remitted to investors in accordance with servicing contracts, partially offset by a decrease in consumer and small business banking deposits. The decrease in consumer and small business banking deposits was driven by seasonality as well as higher balance customers moving a portion of those balances to other
 
higher rate liquid alternatives, partially offset by growth in certificates of deposit (CDs) and high-yield savings that was driven by an increase in promotional activity. Table 9 provides additional information regarding deposits. Information regarding the impact of deposits on net interest income and a comparison of average deposit balances is provided in the “Earnings Performance – Net Interest Income” section and Table 1 earlier in this Report. 
Table 9: Deposits
($ in millions)
Jun 30,
2019

 
% of
total
deposits

 
Dec 31,
2018

 
% of
total
deposits

 

% Change

Noninterest-bearing
$
340,813

 
26
%
 
$
349,534

 
27
%
 
(2
)
Interest-bearing checking
54,722

 
4

 
56,797

 
4

 
(4
)
Market rate and other savings
713,219

 
56

 
703,338

 
55

 
1

Savings certificates
32,379

 
3

 
22,648

 
2

 
43

Other time deposits
93,868

 
7

 
95,602

 
7

 
(2
)
Deposits in foreign offices (1)
53,425

 
4

 
58,251

 
5

 
(8
)
Total deposits
$
1,288,426

 
100
%
 
$
1,286,170

 
100
%
 
—

(1)
Includes Eurodollar sweep balances of $26.4 billion and $31.8 billion at June 30, 2019, and December 31, 2018, respectively.
Fair Value of Financial Instruments
We use fair value measurements to record fair value adjustments to certain financial instruments and to determine fair value disclosures. See the “Critical Accounting Policies” section in our 2018 Form 10-K and Note 16 (Fair Values of Assets and Liabilities) to Financial Statements in this Report for a description of our critical accounting policy related to fair value of financial instruments and a discussion of our fair value measurement techniques.
Table 10 presents the summary of the fair value of financial instruments recorded at fair value on a recurring basis, and the amounts measured using significant Level 3 inputs (before derivative netting adjustments). The fair value of the remaining assets and liabilities were measured using valuation methodologies involving market-based or market-derived information (collectively Level 1 and 2 measurements).
Table 10: Fair Value Level 3 Summary
 
June 30, 2019
 
 
December 31, 2018
 
($ in billions)
Total
balance

 
Level 3 (1)

 
Total
balance

 
Level 3 (1)

Assets carried
at fair value
$
415.1

 
24.9

 
408.4

 
25.3

As a percentage
of total assets
22
%
 
1

 
22

 
1

Liabilities carried
at fair value
$
24.4

 
2.3

 
28.2

 
1.6

As a percentage of
total liabilities
1
%
 
*

 
2

 
*

* Less than 1%.
(1)
Before derivative netting adjustments.

 
See Note 16 (Fair Values of Assets and Liabilities) to Financial Statements in this Report for additional information on fair value measurements and a description of the Level 1, 2 and 3 fair value hierarchy.

Equity
Total equity was $200.0 billion at June 30, 2019, compared with $197.1 billion at December 31, 2018. The increase was driven by a $4.1 billion increase in cumulative other comprehensive income primarily due to a decrease in U.S. interest rates resulting in an increase in the value of available-for-sale debt securities, and a $6.4 billion increase in retained earnings net of dividends paid, partially offset by a $7.6 billion increase in treasury stock.

22


Off-Balance Sheet Arrangements
In the ordinary course of business, we engage in financial transactions that are not recorded on the balance sheet, or may be recorded on the balance sheet in amounts that are different from the full contract or notional amount of the transaction. Our off-balance sheet arrangements include commitments to lend and purchase debt and equity securities, transactions with unconsolidated entities, guarantees, derivatives, and other commitments. These transactions are designed to (1) meet the financial needs of customers, (2) manage our credit, market or liquidity risks, and/or (3) diversify our funding sources.
 
Commitments to Lend and Purchase Debt and Equity Securities
We enter into commitments to lend funds to customers, which are usually at a stated interest rate, if funded, and for specific purposes and time periods. When we make commitments, we are exposed to credit risk. However, the maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments is expected to expire without being used by the customer. For more information on lending commitments, see Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report. We also enter into commitments to purchase securities under resale agreements. For more information on commitments to purchase securities under resale agreements, see Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments) to Financial Statements in this Report. We also may enter into commitments to purchase debt and equity securities to provide capital for customers’ funding, liquidity or other future needs. For more information, see the “Off-Balance Sheet Arrangements – Contractual Cash Obligations” section in our 2018 Form 10-K and Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments) to Financial Statements in this Report.
 
 
Transactions with Unconsolidated Entities
In the normal course of business, we enter into various types of on- and off-balance sheet transactions with special purpose entities (SPEs), which are corporations, trusts, limited liability companies or partnerships that are established for a limited purpose. Generally, SPEs are formed in connection with securitization transactions and are considered variable interest entities (VIEs). For more information on securitizations, including sales proceeds and cash flows from securitizations, see Note 10 (Securitizations and Variable Interest Entities) to Financial Statements in this Report.

Guarantees and Certain Contingent Arrangements
Guarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. Guarantees are generally in the form of standby letters of credit, securities lending and other indemnifications, written put options, recourse obligations and other types of similar arrangements. For more information on guarantees and certain contingent arrangements, see Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments) to Financial Statements in this Report.

Derivatives
We use derivatives to manage exposure to market risk, including interest rate risk, credit risk and foreign currency risk, and to assist customers with their risk management objectives. Derivatives are recorded on the balance sheet at fair value, and volume can be measured in terms of the notional amount, which is generally not exchanged but is used only as the basis on which interest and other payments are determined. The notional amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. For more information on derivatives, see Note 15 (Derivatives) to Financial Statements in this Report.
 



23

Risk Management
Wells Fargo manages a variety of risks that can significantly affect our financial performance and our ability to meet the expectations of our customers, shareholders, regulators and other stakeholders. We operate under a Board approved risk management framework which outlines our company-wide approach to risk management and oversight and describes the structures and practices employed to manage current and emerging risks inherent to Wells Fargo. For more information about how we manage risk, see the “Risk Management” section in our 2018 Form 10-K. The discussion that follows supplements our discussion of the management of certain risks contained in the “Risk Management” section in our 2018 Form 10-K.
Credit Risk Management
We define credit risk as the risk of loss associated with a borrower or counterparty default (failure to meet obligations in accordance with agreed upon terms). Credit risk exists with many of our assets and exposures such as debt security holdings, certain derivatives, and loans.
The Board’s Credit Committee has primary oversight responsibility for credit risk. At the management level, the Corporate Credit function, which is part of Corporate Risk, has primary oversight responsibility for credit risk. The Corporate Credit function reports to the Chief Risk Officer (CRO) and also provides periodic reporting related to credit risk to the Board’s Credit Committee. In addition, the Risk & Control Committee for each business group and enterprise function reports credit risk matters to the Enterprise Risk & Control Committee.
The following discussion focuses on our loan portfolios, which represent the largest component of assets on our balance sheet for which we have credit risk. Table 11 presents our total loans outstanding by portfolio segment and class of financing receivable.
Table 11: Total Loans Outstanding by Portfolio Segment and Class of Financing Receivable
(in millions)
Jun 30, 2019

 
Dec 31, 2018

Commercial:
 
 
 
Commercial and industrial
$
348,846

 
350,199

Real estate mortgage
123,008

 
121,014

Real estate construction
21,067

 
22,496

Lease financing
19,324

 
19,696

Total commercial
512,245

 
513,405

Consumer:
 
 
 
Real estate 1-4 family first mortgage
286,427

 
285,065

Real estate 1-4 family junior lien mortgage
32,068

 
34,398

Credit card
38,820

 
39,025

Automobile
45,664

 
45,069

Other revolving credit and installment
34,654

 
36,148

Total consumer
437,633

 
439,705

Total loans
$
949,878

 
953,110


We manage our credit risk by establishing what we believe are sound credit policies for underwriting new business, while monitoring and reviewing the performance of our existing loan portfolios. We employ various credit risk management and monitoring activities to mitigate risks associated with multiple
 
risk factors affecting loans we hold, could acquire or originate including:
•
Loan concentrations and related credit quality
•
Counterparty credit risk
•
Economic and market conditions
•
Legislative or regulatory mandates
•
Changes in interest rates
•
Merger and acquisition activities
•
Reputation risk

Our credit risk management oversight process is governed centrally, but provides for decentralized management and accountability by our lines of business. Our overall credit process includes comprehensive credit policies, disciplined credit underwriting, frequent and detailed risk measurement and modeling, extensive credit training programs, and a continual loan review and audit process.
A key to our credit risk management is adherence to a well-controlled underwriting process, which we believe is appropriate for the needs of our customers as well as investors who purchase the loans or securities collateralized by the loans.
Credit Quality Overview  Solid credit quality continued in second quarter 2019, as our net charge-off rate remained low at 0.28% (annualized) of average total loans. Second quarter 2019 results reflected:
•
Nonaccrual loans were $5.9 billion at June 30, 2019, down from $6.5 billion at December 31, 2018. Commercial nonaccrual loans increased to $2.5 billion at June 30, 2019, compared with $2.2 billion at December 31, 2018, and consumer nonaccrual loans declined to $3.5 billion at June 30, 2019, compared with $4.3 billion at December 31, 2018. The overall decrease in nonaccrual loans was primarily due to a decrease in consumer nonaccruals from the reclassification of $373 million of real estate 1-4 family first mortgage nonaccrual loans to MLHFS. Nonaccrual loans represented 0.62% of total loans at June 30, 2019, compared with 0.68% at December 31, 2018.
•
Net charge-offs (annualized) as a percentage of average total loans were 0.28% and 0.29% in the second quarter and first half of 2019, respectively, compared with 0.26% and 0.29% for the same periods a year ago. Net charge-offs (annualized) as a percentage of our average commercial and consumer portfolios were 0.13% and 0.45% in second quarter 2019 and 0.12% and 0.48% in the first half of 2019, respectively, compared with 0.05% and 0.49% in second quarter 2018 and 0.06% and 0.54% in the first half of 2018.
•
Loans that are not government insured/guaranteed and 90 days or more past due and still accruing were $41 million and $739 million in our commercial and consumer portfolios, respectively, at June 30, 2019, compared with $94 million and $885 million at December 31, 2018.
•
Our provision for credit losses was $503 million and $1.3 billion in the second quarter and first half of 2019, respectively, compared with $452 million and $643 million for the same periods a year ago. The increase in provision for credit losses in second quarter 2019, compared with the same period a year ago, primarily reflected loan growth. The increase in the first half of 2019, compared with the same period a year ago, was due to an allowance build in first quarter 2019 reflecting a higher probability of slightly less favorable economic conditions, compared with an allowance

24

release in first quarter 2018 reflecting improvement in our outlook for 2017 hurricane-related losses.
•
The allowance for credit losses totaled $10.6 billion, or 1.12% of total loans, at June 30, 2019, down from $10.7 billion, or 1.12%, at December 31, 2018.
Additional information on our loan portfolios and our credit quality trends follows.
PURCHASED CREDIT-IMPAIRED (PCI) LOANS Loans acquired with evidence of credit deterioration since their origination and where it is probable that we will not collect all contractually required principal and interest payments are PCI loans. A nonaccretable difference is established for PCI loans to absorb losses expected on the contractual amounts of those loans. Amounts absorbed by the nonaccretable difference do not affect the income statement or the allowance for credit losses. The carrying value of PCI loans at June 30, 2019, totaled $1.2 billion, compared with $5.0 billion at December 31, 2018. The decline in carrying value was due to the sale of $3.5 billion of Pick-a-Pay PCI loans in the first half of 2019 and paydowns.
For additional information on PCI loans, see the “Risk Management – Credit Risk Management – Real Estate 1-4 Family First and Junior Lien Mortgage Loans – Pick-a-Pay Portfolio” section in this Report, Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K, and Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.

Significant Loan Portfolio Reviews Measuring and monitoring our credit risk is an ongoing process that tracks delinquencies, collateral values, Fair Isaac Corporation (FICO) scores, economic trends by geographic areas, loan-level risk grading for certain portfolios (typically commercial) and other indications of credit risk. Our credit risk monitoring process is designed to enable early identification of developing risk and to support our determination of an appropriate allowance for credit losses. The following discussion provides additional characteristics and analysis of our significant portfolios. See Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report for more analysis and credit metric information for each of the following portfolios.

COMMERCIAL AND INDUSTRIAL LOANS AND LEASE FINANCING  For purposes of portfolio risk management, we aggregate commercial and industrial loans and lease financing according to market segmentation and standard industry codes. We generally subject commercial and industrial loans and lease financing to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to regulatory definitions of pass and criticized categories with criticized segmented among special mention, substandard, doubtful and loss categories.
 
The commercial and industrial loans and lease financing portfolio totaled $368.2 billion, or 39% of total loans, at June 30, 2019. The net charge-off rate (annualized) for this portfolio was 0.18% and 0.17% in the second quarter and first half of 2019, respectively, compared with 0.08% and 0.10% for the same periods a year ago. At June 30, 2019, 0.46% of this portfolio was nonaccruing, compared with 0.43% at December 31, 2018, reflecting an increase of $121 million in nonaccrual loans due to a customer in the utilities industry, as well as increases in the oil, gas and pipelines portfolio, partially offset by improvement across various industry categories. At June 30, 2019, $15.9 billion of commercial and industrial loan and lease financing loans were internally classified as criticized in accordance with regulatory guidance, compared with $15.8 billion at December 31, 2018.
Most of our commercial and industrial loans and lease financing portfolio is secured by short-term assets, such as accounts receivable, inventory and debt securities, as well as long-lived assets, such as equipment and other business assets. Generally, the collateral securing this portfolio represents a secondary source of repayment.
Table 12 provides a breakout of commercial and industrial loans and lease financing by industry, and includes foreign loans of $64.5 billion and $63.7 billion at June 30, 2019, and December 31, 2018, respectively. Significant industry concentrations of foreign loans include $26.9 billion and $25.6 billion in the financials except banks category, $17.0 billion and $18.1 billion in the banks category, and $1.5 billion and $1.2 billion in the oil, gas and pipelines category at June 30, 2019, and December 31, 2018, respectively. The industry categories were updated in 2019, to align with industry groupings that our regulators use to monitor industry concentration risks.
Loans to financials except banks, our largest industry concentration, were $107.3 billion, or 11% of total outstanding loans, at June 30, 2019, compared with $105.9 billion, or 11% of total outstanding loans, at December 31, 2018. These are predominantly loans to investment firms, financial vehicles, and non-bank creditors. A significant portion of this industry category consists of loans to entities that invest in financial assets backed predominantly by commercial or residential real estate or consumer loan assets and are repaid from asset cash flows or the sale of the assets. We limit our loan amounts to a percentage of the value of the underlying assets considering underlying credit risk, asset duration, and ongoing performance.
Oil, gas and pipelines loans were $13.6 billion, or 1% of total outstanding loans, at June 30, 2019, compared with $12.8 billion, or 1% of total outstanding loans, at December 31, 2018. Oil, gas and pipelines nonaccrual loans increased to $636 million at June 30, 2019, compared with $417 million at December 31, 2018, due to weaker portfolio credit performance.

25

Table 12: Commercial and Industrial Loans and Lease Financing by Industry (1)
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Nonaccrual
loans

 
Total
portfolio

 
% of
total
loans

 
Nonaccrual
loans

 
Total
portfolio

 
% of
total
loans

Financials except banks
$
160

 
107,292

 
11
%
 
$
305

 
105,925

 
11
%
Technology, telecom and media
46

 
24,648

 
3

 
26

 
25,681

 
3

Real estate and construction
43

 
22,463

 
2

 
31

 
23,380

 
2

Equipment, machinery and parts manufacturing
66

 
22,298

 
2

 
47

 
20,850

 
2

Retail
88

 
20,351

 
2

 
87

 
19,541

 
2

Materials and commodities
94

 
19,599

 
2

 
136

 
18,688

 
2

Banks
—

 
17,136

 
2

 
—

 
18,407

 
2

Automobile related
23

 
16,673

 
2

 
16

 
16,801

 
2

Food and beverage manufacturing
5

 
14,640

 
2

 
48

 
15,448

 
2

Health care and pharmaceuticals
24

 
14,555

 
2

 
124

 
15,529

 
2

Entertainment and recreation
36

 
13,644

 
1

 
33

 
14,045

 
1

Oil, gas and pipelines
636

 
13,562

 
1

 
417

 
12,840

 
1

Transportation services
88

 
11,797

 
1

 
176

 
12,029

 
1

Commercial services
50

 
10,820

 
1

 
48

 
10,591

 
1

Agribusiness
61

 
7,118

 
1

 
46

 
7,996

 
1

Utilities
224

 
5,864

 
1

 
6

 
5,756

 
1

Government and education
2

 
5,765

 
1

 
3

 
6,160

 
1

Other (2)
51

 
19,945

 
2

 
27

 
20,228

 
2

Total
$
1,697

 
368,170

 
39
%
 
$
1,576

 
369,895

 
39
%
(1)
Industry categories are based on the North American Industry Classification System and the amounts include foreign loans. The industry categories were updated in 2019 to align with industry groupings that our regulators use to monitor industry concentration risks. The amounts for December 31, 2018, have been reclassified to conform with the current period presentation.
(2)
No other single industry had total loans in excess of $5.0 billion and $4.5 billion at June 30, 2019 and December 31, 2018, respectively.

26
Risk Management - Credit Risk Management (continued)

COMMERCIAL REAL ESTATE (CRE) We generally subject CRE loans to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to regulatory definitions of pass and criticized categories with criticized segmented among special mention, substandard, doubtful and loss categories. The CRE portfolio, which included $8.1 billion of foreign CRE loans, totaled $144.1 billion, or 15% of total loans, at June 30, 2019, and consisted of $123.0 billion of mortgage loans and $21.1 billion of construction loans.
Table 13 summarizes CRE loans by state and property type with the related nonaccrual totals. The portfolio is diversified both geographically and by property type. The largest geographic
 
concentrations of CRE loans are in California, New York, Florida and Texas, which combined represented 49% of the total CRE portfolio. By property type, the largest concentrations are office buildings at 27% and apartments at 17% of the portfolio. CRE nonaccrual loans totaled 0.5% of the CRE outstanding balance at June 30, 2019, compared with 0.4% at December 31, 2018. At June 30, 2019, we had $4.2 billion of criticized CRE mortgage loans, compared with $4.5 billion at December 31, 2018, and $184 million of criticized CRE construction loans, compared with $289 million at December 31, 2018.

Table 13: CRE Loans by State and Property Type
 
June 30, 2019
 
 
Real estate mortgage
 
 
 
 
Real estate construction
 
 
 
 
Total
 
 
 
 
 
(in millions)
Nonaccrual
loans

 
Total
portfolio

 
 
 
Nonaccrual
loans

 
Total
portfolio

 
 
 
Nonaccrual
loans

 
Total
portfolio

 
 
 
% of
total
loans

By state:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
California
$
142

 
33,152

 
 
 
9

 
4,502

 
 
 
151

 
37,654

 
 
 
4
%
New York
23

 
11,926

 
 
 
2

 
2,387

 
 
 
25

 
14,313

 
 
 
2

Florida
19

 
8,078

 
 
 
3

 
1,554

 
 
 
22

 
9,632

 
 
 
1

Texas
56

 
7,833

 
 
 
4

 
1,437

 
 
 
60

 
9,270

 
 
 
1

Arizona
70

 
4,632

 
 
 
—

 
312

 
 
 
70

 
4,944

 
 
 
1

North Carolina
23

 
3,663

 
 
 
4

 
904

 
 
 
27

 
4,567

 
 
 
*

Georgia
14

 
3,908

 
 
 
—

 
517

 
 
 
14

 
4,425

 
 
 
*

Washington
17

 
3,450

 
 
 
—

 
599

 
 
 
17

 
4,049

 
 
 
*

Illinois
176

 
3,477

 
 
 
—

 
348

 
 
 
176

 
3,825

 
 
 
*

Virginia
8

 
2,749

 
 
 
—

 
903

 
 
 
8

 
3,652

 
 
 
*

Other
189

 
40,140

 
 
 
14

 
7,604

 
 
 
203

 
47,744

 
(1)
 
5

Total
$
737

 
123,008

 
 
 
36

 
21,067

 
 
 
773

 
144,075

 
 
 
15
%
By property: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Office buildings
$
152

 
36,237

 
 
 
5

 
2,618

 
 
 
157

 
38,855

 
 
 
4
%
Apartments
13

 
16,886

 
 
 
—

 
6,937

 
 
 
13

 
23,823

 
 
 
3

Industrial/warehouse
80

 
15,711

 
 
 
2

 
1,303

 
 
 
82

 
17,014

 
 
 
2

Retail (excluding shopping center)
98

 
15,072

 
 
 
10

 
349

 
 
 
108

 
15,421

 
 
 
2

Shopping center
83

 
10,999

 
 
 
—

 
1,364

 
 
 
83

 
12,363

 
 
 
1

Hotel/motel
86

 
9,711

 
 
 
—

 
1,574

 
 
 
86

 
11,285

 
 
 
1

Mixed use properties (2)
93

 
6,705

 
 
 
—

 
447

 
 
 
93

 
7,152

 
 
 
1

Institutional
39

 
3,478

 
 
 
—

 
1,888

 
 
 
39

 
5,366

 
 
 
1

Collateral pool
—

 
2,428

 
 
 
—

 
7

 
 
 
—

 
2,435

 
 
 
*

Agriculture
80

 
2,419

 
 
 
—

 
7

 
 
 
80

 
2,426

 
 
 
*

Other
13

 
3,362

 
 
 
19

 
4,573

 
 
 
32

 
7,935

 
 
 
1

Total
$
737

 
123,008

 
 
 
36

 
21,067

 
 
 
773

 
144,075

 
 
 
15
%
*
Less than 1%.
(1)Includes 40 states; no state had loans in excess of $3.3 billion.
(2)
Mixed use properties are primarily owner occupied real estate, including data centers, flexible space leased to multiple tenants, light manufacturing and other specialized uses.


27

FOREIGN LOANS AND COUNTRY RISK EXPOSURE We classify loans for financial statement and certain regulatory purposes as foreign primarily based on whether the borrower’s primary address is outside of the United States. At June 30, 2019, foreign loans totaled $73.0 billion, representing approximately 8% of our total consolidated loans outstanding, compared with $71.9 billion, or approximately 8% of total consolidated loans outstanding, at December 31, 2018. Foreign loans were approximately 4% of our consolidated total assets at both June 30, 2019 and at December 31, 2018.
Our country risk monitoring process incorporates frequent dialogue with our financial institution customers, counterparties and regulatory agencies, enhanced by centralized monitoring of macroeconomic and capital markets conditions in the respective countries. We establish exposure limits for each country through a centralized oversight process based on customer needs, and in consideration of relevant economic, political, social, legal, and transfer risks. We monitor exposures closely and adjust our country limits in response to changing conditions.
We evaluate our individual country risk exposure based on our assessment of the borrower’s ability to repay, which gives consideration for allowable transfers of risk such as guarantees and collateral and may be different from the reporting based on the borrower’s primary address. Our largest single foreign country exposure based on our assessment of risk at June 30, 2019, was the United Kingdom, which totaled $27.7 billion, or approximately 1% of our total assets, and included $4.2 billion of sovereign claims. Our United Kingdom sovereign claims arise predominantly from deposits we have placed with the Bank of England pursuant to regulatory requirements in support of our London branch. The United Kingdom officially announced its intention to leave the European Union (Brexit) on March 29, 2017, and the negotiation process leading to its departure has been extended to October 31, 2019. We continue to implement plans for Brexit with our primary goal to continue to serve our existing clients in the United Kingdom and the European Union as well as to continue to meet the needs of our domestic clients as they do business in the United Kingdom and the European Union. We have an existing authorized bank in Ireland and an asset management entity in Luxembourg. We also have obtained regulatory approval to establish a broker dealer in France. We plan to leverage these entities in order to continue to serve clients in the European Union. In addition, we are implementing actions where possible to mitigate the impact of Brexit on our supplier contracts, staffing and business operations in the European Union. For additional information on risks associated with Brexit, see the “Risk Factors” section in our 2018 Form 10-K.
 
Table 14 provides information regarding our top 20 exposures by country (excluding the U.S.) and our Eurozone exposure, based on our assessment of risk, which gives consideration to the country of any guarantors and/or underlying collateral. With respect to Table 14:
•
Lending exposure includes outstanding loans, unfunded credit commitments, and deposits with foreign banks. These balances are presented prior to the deduction of allowance for credit losses or collateral received under the terms of the credit agreements, if any.
•
Securities exposure represents debt and equity securities of foreign issuers. Long and short positions are netted, and net short positions are reflected as negative exposure.
•
Derivatives and other exposure represents foreign exchange contracts, derivative contracts, securities resale agreements, and securities lending agreements. This exposure is presented net of counterparty netting adjustments and reduced by the amount of cash collateral, if any. It includes credit default swaps (CDS) predominantly used for market making activities in the U.S.-based trading businesses, which sometimes results in selling and purchasing protection on the identical reference entities. Generally, we do not use market instruments such as CDS to hedge the credit risk of our investments or loan positions, although we do use them to manage risk in our trading businesses. At June 30, 2019, the gross notional amount of our CDS sold that reference assets in the Top 20 or Eurozone countries that contain non-sovereign debt was $280 million, which was offset by the notional amount of CDS purchased of $472 million. At June 30, 2019, the gross notional amount of our CDS sold that reference assets in the Top 20 or Eurozone countries that contain sovereign debt was $410 million, which was offset by the notional amount of CDS purchased of $390 million.


28
Risk Management - Credit Risk Management (continued)

Table 14: Select Country Exposures
 
June 30, 2019
 
 
Lending
 
 
Securities
 
 
Derivatives and other
 
 
Total exposure
 
(in millions)
Sovereign

 
Non-
sovereign

 
Sovereign

 
Non-
sovereign

 
Sovereign

 
Non-
sovereign

 
Sovereign

 
Non-
sovereign (1)

 
Total

Top 20 country exposures:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United Kingdom
$
4,193

 
21,727

 
—

 
1,552

 
—

 
266

 
4,193

 
23,545

 
27,738

Canada
32

 
17,696

 
42

 
258

 
—

 
112

 
74

 
18,066

 
18,140

Cayman Islands
—

 
6,598

 
—

 
43

 
—

 
134

 
—

 
6,775

 
6,775

Ireland
62

 
4,464

 
—

 
143

 
—

 
163

 
62

 
4,770

 
4,832

Bermuda
—

 
3,634

 
—

 
115

 
—

 
73

 
—

 
3,822

 
3,822

Netherlands
—

 
2,744

 
95

 
337

 
—

 
32

 
95

 
3,113

 
3,208

Luxembourg
—

 
2,473

 
—

 
583

 
—

 
32

 
—

 
3,088

 
3,088

Germany
—

 
2,304

 
19

 
228

 
—

 
305

 
19

 
2,837

 
2,856

China
—

 
2,345

 
15

 
339

 
15

 
25

 
30

 
2,709

 
2,739

Guernsey
—

 
2,704

 
—

 
—

 
—

 
1

 
—

 
2,705

 
2,705

France
—

 
1,999

 
—

 
67

 
39

 
1

 
39

 
2,067

 
2,106

Australia
—

 
1,913

 
—

 
51

 
—

 
1

 
—

 
1,965

 
1,965

India
—

 
1,824

 
—

 
66

 
—

 
—

 
—

 
1,890

 
1,890

Chile
1

 
1,734

 
—

 
(1
)
 
—

 
103

 
1

 
1,836

 
1,837

Brazil
—

 
1,772

 
—

 
2

 
5

 
—

 
5

 
1,774

 
1,779

South Korea
—

 
1,364

 
1

 
60

 
—

 
7

 
1

 
1,431

 
1,432

Virgin Islands (British)
—

 
1,276

 
—

 
45

 
—

 
—

 
—

 
1,321

 
1,321

Japan
311

 
1,042

 
3

 
(49
)
 
—

 
8

 
314

 
1,001

 
1,315

United Arab Emirates
—

 
1,262

 
—

 
2

 
—

 
—

 
—

 
1,264

 
1,264

Mexico
—

 
1,156

 
—

 
7

 
—

 
1

 
—

 
1,164

 
1,164

Total top 20 country exposures
$
4,599

 
82,031

 
175

 
3,848

 
59

 
1,264

 
4,833

 
87,143

 
91,976

Eurozone exposure:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eurozone countries included in Top 20 above (2)
$
62

 
13,984

 
114

 
1,358

 
39

 
533

 
215

 
15,875

 
16,090

Belgium
—

 
545

 
—

 
(66
)
 
—

 
2

 
—

 
481

 
481

Spain
—

 
405

 
—

 
25

 
—

 
1

 
—

 
431

 
431

Austria
—

 
265

 
—

 
(2
)
 
—

 
—

 
—

 
263

 
263

Other Eurozone exposure (3)
—

 
218

 
—

 
88

 
—

 
—

 
—

 
306

 
306

Total Eurozone exposure
$
62

 
15,417

 
114

 
1,403

 
39

 
536

 
215

 
17,356

 
17,571

(1)
For countries presented in the table, total non-sovereign exposure comprises $44.4 billion exposure to financial institutions and $44.2 billion to non-financial corporations at June 30, 2019.
(2)
Consists of exposure to Ireland, Netherlands, Luxembourg, Germany and France included in Top 20.
(3)
Includes non-sovereign exposure to Italy, Portugal, and Greece in the amount of $135 million, $19 million and $3 million, respectively. We had no sovereign exposure in these countries at June 30, 2019.

29

REAL ESTATE 1-4 FAMILY FIRST AND JUNIOR LIEN MORTGAGE LOANS  Our real estate 1-4 family first and junior lien mortgage loans are presented in Table 15.
Table 15: Real Estate 1-4 Family First and Junior Lien Mortgage Loans
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Balance

 
% of
portfolio

 
Balance

 
% of
portfolio

Real estate 1-4 family first mortgage
$
286,427

 
90
%
 
$
285,065

 
89
%
Real estate 1-4 family junior lien mortgage
32,068

 
10

 
34,398

 
11

Total real estate 1-4 family mortgage loans
$
318,495

 
100
%
 
$
319,463

 
100
%

The real estate 1-4 family mortgage loan portfolio includes some loans with adjustable-rate features and some with an interest-only feature as part of the loan terms. Interest-only loans were approximately 3% and 4% of total loans at June 30, 2019, and December 31, 2018, respectively. We believe we have manageable adjustable-rate mortgage (ARM) reset risk across our owned mortgage loan portfolios. We do not offer option ARM products, nor do we offer variable-rate mortgage products with fixed payment amounts, commonly referred to within the financial services industry as negative amortizing mortgage loans. The option ARMs we do have are included in the Pick-a-Pay portfolio which was acquired from Wachovia. For more information, see the “Risk Management – Credit Risk Management – Real Estate 1-4 Family First and Junior Lien Mortgage Loans – Pick-a-Pay Portfolio” section in this Report.
We continue to modify real estate 1-4 family mortgage loans to assist homeowners and other borrowers experiencing financial difficulties. For more information on our modification programs, see the “Risk Management – Credit Risk Management – Real Estate 1-4 Family First and Junior Lien Mortgage Loans” section in our 2018 Form 10-K.
Part of our credit monitoring includes tracking delinquency, current FICO scores and loan/combined loan to collateral values (LTV/CLTV) on the entire real estate 1-4 family mortgage loan portfolio. These credit risk indicators, which exclude government insured/guaranteed loans, continued to improve in second quarter 2019 on the non-PCI mortgage portfolio. Loans 30 days or more delinquent at June 30, 2019, totaled $3.4 billion, or 1% of total non-PCI mortgages, compared with $4.0 billion, or 1%, at December 31, 2018. Loans with FICO scores lower than 640 totaled $8.3 billion, or 3% of total non-PCI mortgages at June 30, 2019, compared with $9.7 billion, or 3%, at December 31, 2018. Mortgages with a LTV/CLTV greater than 100% totaled $3.3 billion at June 30, 2019, or 1% of total non-PCI mortgages, compared with $3.9 billion, or 1%, at December 31, 2018. Information regarding credit quality indicators can be found in Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
Real estate 1-4 family first and junior lien mortgage loans by state are presented in Table 16. Our real estate 1-4 family non-PCI mortgage loans to borrowers in California represented 13% of total loans at June 30, 2019, located predominantly within the larger metropolitan areas, with no single California metropolitan area consisting of more than 5% of total loans. We monitor changes in real estate values and underlying economic or market conditions for all geographic areas of our real estate 1-4 family first and junior lien mortgage portfolios as part of our credit risk management process. Our underwriting and periodic review of loans and lines secured by residential real estate collateral includes appraisals or estimates from automated valuation models (AVMs) to support property values. Additional information about AVMs and our policy for their use can be
 
found in Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report and the “Risk Management – Credit Risk Management – Real Estate 1-4 Family First and Junior Lien Mortgage Loans” section in our 2018 Form 10-K.
Table 16: Real Estate 1-4 Family First and Junior Lien Mortgage Loans by State
 
June 30, 2019
 
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Total real
estate 1-4
family
mortgage

 
% of
total
loans

Real estate 1-4 family loans (excluding PCI):
 
 
 
 
 
 
 
California
$
113,523

 
8,812

 
122,335

 
13
%
New York
30,032

 
1,612

 
31,644

 
3

New Jersey
13,923

 
2,955

 
16,878

 
2

Florida
11,943

 
2,853

 
14,796

 
2

Washington
10,380

 
719

 
11,099

 
1

Virginia
8,627

 
1,858

 
10,485

 
1

Texas
8,746

 
626

 
9,372

 
1

North Carolina
5,883

 
1,484

 
7,367

 
1

Pennsylvania
5,341

 
1,792

 
7,133

 
1

Other (1)
65,496

 
9,342

 
74,838

 
8

Government insured/
guaranteed loans (2)
11,374

 
—

 
11,374

 
1

Real estate 1-4 family loans (excluding PCI)
285,268

 
32,053

 
317,321

 
34

Real estate 1-4 family PCI loans
1,159

 
15

 
1,174

 
—

Total
$
286,427

 
32,068

 
318,495

 
34
%
(1)
Consists of 41 states; no state had loans in excess of $7.0 billion.
(2)
Represents loans whose repayments are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA).


30
Risk Management - Credit Risk Management (continued)

First Lien Mortgage Portfolio  Our total real estate 1-4 family first lien mortgage portfolio increased $1.9 billion and $1.4 billion in the second quarter and first half of 2019, respectively. The increase was the result of retaining mortgage loan originations of $19.8 billion and $30.4 billion in the second quarter and first half of 2019, respectively, partially offset by paydowns, $1.6 billion and $3.5 billion of sales of Pick-a-Pay PCI loans in the second quarter and first half of 2019, respectively, and the reclassification in second quarter 2019 of $1.8 billion of mortgage loans to MLHFS. In addition, nonconforming mortgage loan originations of $658 million in second quarter 2019 and $1.4 billion in the first half of 2019 that would have otherwise been included in this portfolio were designated as MLHFS in anticipation of the future issuance of residential mortgage-backed securities.
The credit performance associated with our real estate 1-4 family first lien mortgage portfolio improved in second quarter
 
2019, as measured through net charge-offs and nonaccrual loans. Net charge-offs (annualized) as a percentage of average real estate 1-4 family first lien mortgage loans was a net recovery of 0.04% and 0.03% in the second quarter and first half of 2019, respectively, compared with a net recovery of 0.03% for both the same periods a year ago. Nonaccrual loans were $2.4 billion at June 30, 2019, down $758 million from December 31, 2018. The decrease in nonaccrual loans from December 31, 2018, was driven by the reclassification of nonaccrual loans to MLHFS in anticipation of future sales, nonaccrual loan sales, and a reduction in inflows due to credit stabilization.
Table 17 shows certain delinquency and loss information for the first lien mortgage portfolio and lists the top five states by outstanding balance.
Table 17: First Lien Mortgage Portfolio Performance
 
Outstanding balance
 
 
% of loans 30 days or more past due
 
Loss (recovery) rate (annualized) quarter ended
 
(in millions)
Jun 30,
2019

Dec 31,
2018

 
Jun 30,
2019

Dec 31,
2018
 
Jun 30,
2019

Mar 31,
2019

Dec 31,
2018

Sep 30,
2018

Jun 30,
2018

California
$
113,523

109,092

 
0.55
%
0.68
 
(0.04
)
(0.03
)
(0.04
)
(0.05
)
(0.07
)
New York
30,032

28,954

 
1.00

1.12
 
—

0.02

0.02

0.04

0.09

New Jersey
13,923

13,811

 
1.60

1.91
 
(0.06
)
0.08

0.05

(0.02
)
0.02

Florida
11,943

12,350

 
2.22

2.58
 
(0.11
)
(0.10
)
(0.18
)
(0.22
)
(0.15
)
Washington
10,380

9,677

 
0.42

0.57
 
(0.03
)
(0.04
)
(0.06
)
(0.06
)
(0.06
)
Other
94,093

93,261

 
1.40

1.70
 
(0.06
)
(0.02
)
(0.03
)
(0.03
)
(0.03
)
Total
273,894

267,145

 
1.01

1.23
 
(0.04
)
(0.02
)
(0.03
)
(0.04
)
(0.04
)
Government insured/guaranteed loans
11,374

12,932

 
 
 
 
 
 
 
 
 
PCI
1,159

4,988

 
 
 
 
 
 
 
 
 
Total first lien mortgages
$
286,427

285,065

 
 
 
 
 
 
 
 
 

31

Pick-a-Pay Portfolio  The Pick-a-Pay portfolio was one of the consumer residential first lien mortgage portfolios we acquired from Wachovia and a majority of the portfolio was identified as PCI loans.
The Pick-a-Pay portfolio is included in the consumer real estate 1-4 family first mortgage class of loans throughout this
 
Report. Pick-a-Pay option payment loans may have fixed or adjustable rates with payment options that include a minimum payment, an interest-only payment or fully amortizing payment (both 15 and 30 year options). Table 18 provides balances by types of loans as of June 30, 2019.
Table 18: Pick-a-Pay Portfolio
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Adjusted
unpaid
principal
balance (1)

 
% of
total

 
Adjusted
unpaid
principal
balance (1)

 
% of
total

Option payment loans
$
5,618

 
52
%
 
$
8,813

 
50
%
Non-option payment adjustable-rate
and fixed-rate loans
2,433

 
22

 
2,848

 
16

Full-term loan modifications
2,783

 
26

 
6,080

 
34

Total adjusted unpaid principal balance
$
10,834

 
100
%
 
$
17,741

 
100
%
Total carrying value
$
10,512

 
 
 
16,115

 
 
(1)
Adjusted unpaid principal balance includes write-downs taken on loans where severe delinquency (normally 180 days) or other indications of severe borrower financial stress exist that indicate there will be a loss of contractually due amounts upon final resolution of the loan.

The predominant portion of our remaining PCI loans is included in the Pick-a-Pay portfolio. Total carrying value of Pick-a-Pay PCI loans was $1.1 billion at June 30, 2019, compared with $4.9 billion at December 31, 2018. During second quarter 2019, we sold $1.9 billion of Pick-a-Pay PCI loans that resulted in a gain of $721 million. We also expect to close on the sale of approximately $500 million of Pick-a-Pay PCI loans in third quarter 2019. The accretable yield balance of our Pick-a-Pay PCI loan portfolio was $411 million ($594 million for all PCI loans) at June 30, 2019, compared with $2.8 billion ($3.0 billion for all PCI loans) at December 31, 2018. The estimated weighted-average life was approximately 5.2 years and 5.5 years at June 30, 2019 and December 31, 2018, respectively. The accretable yield percentage for Pick-a-Pay PCI loans for second quarter 2019 was 11.56%, and we expect the percentage to increase to approximately 12.24% for third quarter 2019.
For additional information on PCI loans, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K.


32
Risk Management - Credit Risk Management (continued)

Junior Lien Mortgage Portfolio  The junior lien mortgage portfolio consists of residential mortgage lines and loans that are subordinate in rights to an existing lien on the same property. It is not unusual for these lines and loans to have draw periods, interest only payments, balloon payments, adjustable rates and similar features. Junior lien loan products are mostly amortizing payment loans with fixed interest rates and repayment periods between five to 30 years. 
We continuously monitor the credit performance of our junior lien mortgage portfolio for trends and factors that influence the frequency and severity of loss. We have observed that the severity of loss for junior lien mortgages is high and generally not affected by whether we or a third party own or service the related first lien mortgage, but the frequency of delinquency is typically lower when we own or service the first lien mortgage. In general, we have limited information available on the delinquency status of the third party owned or serviced first lien where we also hold a junior lien. To capture this inherent loss content, our allowance process for junior lien mortgages considers the relative difference in loss experience for junior lien mortgages behind first lien mortgage loans we own or service, compared with those behind first lien mortgage loans owned or serviced by third parties. In addition, our allowance
 
process for junior lien mortgages considers the inherent loss where the borrower is delinquent on the corresponding first lien mortgage loans.
Table 19 shows certain delinquency and loss information for the junior lien mortgage portfolio and lists the top five states by outstanding balance. The decrease in outstanding balances since December 31, 2018, predominantly reflects loan paydowns. As of June 30, 2019, 6% of the outstanding balance of the junior lien mortgage portfolio was associated with loans that had a combined loan to value (CLTV) ratio in excess of 100%. Of those junior lien mortgages with a CLTV ratio in excess of 100%, 3% were 30 days or more past due. CLTV means the ratio of the total loan balance of first lien mortgages and junior lien mortgages (including unused line amounts for credit line products) to property collateral value. The unsecured portion (the outstanding amount that was in excess of the most recent property collateral value) of the outstanding balances of these loans totaled 2% of the junior lien mortgage portfolio at June 30, 2019. For additional information on consumer loans by LTV/CLTV, see Table 6.12 in Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
Table 19: Junior Lien Mortgage Portfolio Performance
 
Outstanding balance
 
 
% of loans 30 days or more past due
 
Loss (recovery) rate (annualized) quarter ended
 
(in millions)
Jun 30,
2019

 
Dec 31,
2018

 
Jun 30,
2019

 
Dec 31,
2018
 
Jun 30,
2019

 
Mar 31,
2019

 
Dec 31,
2018

 
Sep 30,
2018

 
Jun 30,
2018

California
$
8,812

 
9,338

 
1.64
%
 
1.67
 
(0.40
)
 
(0.39
)
 
(0.33
)
 
(0.51
)
 
(0.56
)
New Jersey
2,955

 
3,152

 
2.77

 
2.57
 
(0.07
)
 
0.12

 
0.03

 
0.24

 
0.28

Florida
2,853

 
3,140

 
2.82

 
2.73
 
(0.11
)
 
(0.05
)
 
0.07

 
0.12

 
(0.05
)
Virginia
1,858

 
2,020

 
2.03

 
1.91
 
(0.17
)
 
0.14

 
0.04

 
0.16

 
0.30

Pennsylvania
1,792

 
1,929

 
2.19

 
2.10
 
(0.19
)
 
0.04

 
0.25

 
0.18

 
0.13

Other
13,783

 
14,802

 
1.99

 
2.12
 
(0.22
)
 
(0.03
)
 
(0.11
)
 
(0.05
)
 
(0.06
)
 Total
32,053


34,381

 
2.05

 
2.08
 
(0.24
)
 
(0.10
)
 
(0.11
)
 
(0.10
)
 
(0.13
)
PCI
15

 
17

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total junior lien mortgages
$
32,068

 
34,398

 
 
 
 
 
 
 
 
 
 
 
 
 
 


33

Our junior lien, as well as first lien, lines of credit portfolios generally have draw periods of 10, 15 or 20 years with variable interest rate and payment options available during the draw period of (1) interest only or (2) 1.5% of outstanding principal balance plus accrued interest. As of June 30, 2019, lines of credit in a draw period primarily used the interest-only option. During the draw period, the borrower has the option of converting all or a portion of the line from a variable interest rate to a fixed rate with terms including interest-only payments for a fixed period between three to seven years or a fully amortizing payment with a fixed period between five to 30 years. At the end of the draw period, a line of credit generally converts to an amortizing payment schedule with repayment terms of up to 30 years based on the balance at time of conversion. Certain lines and loans have been structured with a balloon payment, which requires full repayment of the outstanding balance at the end of the term period. The conversion of lines or loans to fully amortizing or balloon payoff may result in a significant payment increase, which can affect some borrowers’ ability to repay the outstanding balance.
On a monthly basis, we monitor the payment characteristics of borrowers in our first and junior lien lines of credit portfolios. In June 2019, approximately 46% of these borrowers paid only the minimum amount due and approximately 49% paid more than the minimum amount due. The rest were either delinquent or paid less than the minimum amount due. For the borrowers with an interest only payment feature, approximately 31% paid only the minimum amount due and approximately 63% paid more than the minimum amount due.
 
The lines that enter their amortization period may experience higher delinquencies and higher loss rates than the ones in their draw or term period. We have considered this increased inherent risk in our allowance for credit loss estimate.
In anticipation of our borrowers reaching the end of their contractual commitment, we have created a program to inform, educate and help these borrowers transition from interest-only to fully-amortizing payments or full repayment. We monitor the performance of the borrowers moving through the program in an effort to refine our ongoing program strategy.
Table 20 reflects the outstanding balance of our portfolio of junior lien mortgages, including lines and loans, and first lien lines segregated into scheduled end of draw or end of term periods and products that are currently amortizing, or in balloon repayment status. It excludes real estate 1-4 family first lien line reverse mortgages, which total $94 million, because they are predominantly insured by the FHA, and it excludes PCI loans, which total $30 million, because their losses were generally reflected in our nonaccretable difference established at the date of acquisition. At June 30, 2019, $531 million, or 2%, of lines in their draw period were 30 days or more past due, compared with $431 million, or 4%, of amortizing lines of credit. Included in the amortizing amounts in Table 20 is $51 million of end-of-term balloon payments which were past due. The unfunded credit commitments for junior and first lien lines totaled $59.6 billion at June 30, 2019.
Table 20: Junior Lien Mortgage Line and Loan and First Lien Mortgage Line Portfolios Payment Schedule
 
 
 
 
 
Scheduled end of draw / term
 
 
 
(in millions)
Outstanding balance June 30, 2019

 
Remainder of 2019

 
2020

 
2021

 
2022

 
2023

 
2024 and
thereafter (1)

 
Amortizing

Junior lien lines and loans
$
32,053

 
165

 
405

 
984

 
3,636

 
2,501

 
14,043

 
10,319

First lien lines
11,059

 
58

 
164

 
460

 
1,749

 
1,307

 
5,437

 
1,884

Total
$
43,112

 
223

 
569

 
1,444

 
5,385

 
3,808

 
19,480

 
12,203

% of portfolios
100
%
 
1

 
1

 
3

 
12

 
9

 
45

 
29

End-of-term balloon payments included in Total
$
764

 
75

 
185

 
322

 
153

 
6

 
23

 
 
(1)
Substantially all lines and loans are scheduled to convert to amortizing loans by the end of 2028, with annual scheduled amounts through 2028 ranging from $2.1 billion to $5.3 billion and averaging $3.6 billion per year.
CREDIT CARDS  Our credit card portfolio totaled $38.8 billion at June 30, 2019, which represented 4% of our total outstanding loans. The net charge-off rate (annualized) for our credit card portfolio was 3.68% for second quarter 2019, compared with 3.61% for second quarter 2018 and 3.71% and 3.65% for the first half of 2019 and 2018, respectively.
 
AUTOMOBILE  Our automobile portfolio, predominantly composed of indirect loans, totaled $45.7 billion at June 30, 2019. The net charge-off rate (annualized) for our automobile portfolio was 0.46% for second quarter 2019, compared with 0.93% for second quarter 2018 and 0.64% and 1.30% for the first half of 2019 and 2018, respectively. The decreases in the net charge-off rate in the second quarter and first half of 2019, compared with the same periods in 2018, were driven by lower losses on higher quality originations.
 
OTHER REVOLVING CREDIT AND INSTALLMENT Other revolving credit and installment loans totaled $34.7 billion at June 30, 2019, and primarily included student and securities-based loans. Our private student loan portfolio totaled $10.9 billion at June 30, 2019. The net charge-off rate (annualized) for other revolving credit and installment loans was 1.56% for second quarter 2019, compared with 1.44% for second quarter 2018 and 1.52% for both the first half of 2019 and 2018.

34
Risk Management - Credit Risk Management (continued)

NONPERFORMING ASSETS (NONACCRUAL LOANS AND FORECLOSED ASSETS) Table 21 summarizes nonperforming assets (NPAs) for each of the last four quarters. Total NPAs decreased $1.0 billion from first quarter 2019 to $6.3 billion. Nonaccrual loans decreased $983 million from first quarter 2019 to $5.9 billion, due to a decline in consumer nonaccruals from the reclassification of $373 million in real estate 1-4 family first mortgage nonaccrual loans to MLHFS, as well as other broad-based improvement across several commercial industry categories. Foreclosed assets of $377 million were down
 
$59 million from first quarter 2019. For information about when we generally place loans on nonaccrual status, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K. Credit card loans are not placed on nonaccrual status, but are generally fully charged off when the loan reaches 180 days past due. For additional information on impaired loans, see Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
Table 21: Nonperforming Assets (Nonaccrual Loans and Foreclosed Assets)
 
 
June 30, 2019
 
 
March 31, 2019
 
 
December 31, 2018
 
 
September 30, 2018
 
($ in millions)
 
Balance

 
% of
total
loans

 
Balance

 
% of
total
loans

 
Balance

 
% of
total
loans

 
Balance

 
% of
total
loans

Nonaccrual loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
1,634

 
0.47
%
 
$
1,986

 
0.57
%
 
$
1,486

 
0.42
%
 
$
1,555

 
0.46
%
Real estate mortgage
 
737

 
0.60

 
699

 
0.57

 
580

 
0.48

 
603

 
0.50

Real estate construction
 
36

 
0.17

 
36

 
0.16

 
32

 
0.14

 
44

 
0.19

Lease financing
 
63

 
0.33

 
76

 
0.40

 
90

 
0.46

 
96

 
0.49

Total commercial
 
2,470

 
0.48

 
2,797

 
0.55

 
2,188

 
0.43

 
2,298

 
0.46

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
 
2,425

 
0.85

 
3,026

 
1.06

 
3,183

 
1.12

 
3,267

 
1.15

Real estate 1-4 family junior lien mortgage
 
868

 
2.71

 
916

 
2.77

 
945

 
2.75

 
983

 
2.78

Automobile
 
115

 
0.25

 
116

 
0.26

 
130

 
0.29

 
118

 
0.26

Other revolving credit and installment
 
44

 
0.13

 
50

 
0.14

 
50

 
0.14

 
48

 
0.13

Total consumer
 
3,452

 
0.79

 
4,108

 
0.94

 
4,308

 
0.98

 
4,416

 
1.00

Total nonaccrual loans (1)(2)
 
5,922

 
0.62

 
6,905

 
0.73

 
6,496

 
0.68

 
6,714

 
0.71

Foreclosed assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government insured/guaranteed (3)
 
68

 
 
 
75

 
 
 
88

 
 
 
87

 
 
Non-government insured/guaranteed
 
309

 
 
 
361

 
 
 
363

 
 
 
435

 
 
Total foreclosed assets
 
377

 
 
 
436

 
 
 
451

 
 
 
522

 
 
Total nonperforming assets
 
$
6,299

 
0.66
%
 
$
7,341

 
0.77
%
 
$
6,947

 
0.73
%
 
$
7,236

 
0.77
%
Change in NPAs from prior quarter
 
$
(1,042
)
 
 
 
394

 
 
 
(289
)
 
 
 
(389
)
 
 
(1)
Excludes PCI loans because they continue to earn interest income from accretable yield, independent of performance in accordance with their contractual terms.
(2)
Real estate 1-4 family mortgage loans predominantly insured by the FHA or guaranteed by the VA are not placed on nonaccrual status because they are insured or guaranteed.
(3)
Consistent with regulatory reporting requirements, foreclosed real estate resulting from government insured/guaranteed loans are classified as nonperforming. Both principal and interest related to these foreclosed real estate assets are collectible because the loans were predominantly insured by the FHA or guaranteed by the VA. Foreclosure of certain government guaranteed residential real estate mortgage loans are excluded from this table and included in Accounts Receivable in Other Assets. For more information on foreclosed assets, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K.


35

Table 22 provides an analysis of the changes in nonaccrual loans.
Table 22: Analysis of Changes in Nonaccrual Loans
 
Quarter ended
 
(in millions)
Jun 30,
2019

 
Mar 31,
2019

 
Dec 31,
2018

 
Sep 30,
2018

 
Jun 30,
2018

Commercial nonaccrual loans
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
2,797

 
2,188

 
2,298

 
2,455

 
2,409

Inflows
621

 
1,238

 
662

 
774

 
726

Outflows:
 
 
 
 
 
 
 
 
 
Returned to accruing
(46
)
 
(43
)
 
(45
)
 
(122
)
 
(43
)
Foreclosures
(2
)
 
(15
)
 
(12
)
 
—

 
—

Charge-offs
(187
)
 
(158
)
 
(193
)
 
(191
)
 
(133
)
Payments, sales and other
(713
)
 
(413
)
 
(522
)
 
(618
)
 
(504
)
Total outflows
(948
)
 
(629
)
 
(772
)
 
(931
)
 
(680
)
Balance, end of period
2,470


2,797


2,188


2,298


2,455

Consumer nonaccrual loans
 
 
 
 
 
 
 
 
 
Balance, beginning of period
4,108

 
4,308

 
4,416

 
4,671

 
4,930

Inflows
437

 
552

 
569

 
572

 
578

Outflows:
 
 
 
 
 
 
 
 
 
Returned to accruing
(250
)
 
(248
)
 
(269
)
 
(319
)
 
(342
)
Foreclosures
(34
)
 
(42
)
 
(35
)
 
(41
)
 
(40
)
Charge-offs
(34
)
 
(49
)
 
(57
)
 
(65
)
 
(84
)
Payments, sales and other
(775
)
 
(413
)
 
(316
)
 
(402
)
 
(371
)
Total outflows
(1,093
)
 
(752
)
 
(677
)
 
(827
)
 
(837
)
Balance, end of period
3,452


4,108


4,308


4,416


4,671

Total nonaccrual loans
$
5,922

 
6,905

 
6,496

 
6,714

 
7,126

Typically, changes to nonaccrual loans period-over-period represent inflows for loans that are placed on nonaccrual status in accordance with our policy, offset by reductions for loans that are paid down, charged off, sold, foreclosed, or are no longer classified as nonaccrual as a result of continued performance and an improvement in the borrower’s financial condition and loan repayment capabilities.
While nonaccrual loans are not free of loss content, we believe exposure to loss is significantly mitigated by the following factors at June 30, 2019:
•
85% of total commercial nonaccrual loans and 99% of total consumer nonaccrual loans are secured. Of the consumer nonaccrual loans, 95% are secured by real estate and 87% have a combined LTV (CLTV) ratio of 80% or less.
•
losses of $284 million and $1.1 billion have already been recognized on 15% of commercial nonaccrual loans and 38% of consumer nonaccrual loans, respectively, in accordance with our charge-off policies. Once we write down loans to the net realizable value (fair value of collateral less estimated costs to sell), we re-evaluate each loan regularly and record additional write-downs if needed.

 
•
70% of commercial nonaccrual loans were current on interest and 54% were current on both principal and interest, but were on nonaccrual status because the full or timely collection of interest or principal had become uncertain.
•
of the $1.5 billion of consumer loans in bankruptcy or discharged in bankruptcy, and classified as nonaccrual, $1.0 billion were current.
•
the remaining risk of loss of all nonaccrual loans has been considered and we believe is adequately covered by the allowance for loan losses.

We continue to work with our customers experiencing financial difficulty to determine if they can qualify for a loan modification so that they can stay in their homes. Under our proprietary modification programs, customers may be required to provide updated documentation, and some programs require completion of payment during trial periods to demonstrate sustained performance before the loan can be removed from nonaccrual status.

36
Risk Management - Credit Risk Management (continued)

Table 23 provides a summary of foreclosed assets and an analysis of changes in foreclosed assets.

Table 23: Foreclosed Assets
(in millions)
Jun 30,
2019

 
Mar 31,
2019

 
Dec 31,
2018

 
Sep 30,
2018

 
Jun 30,
2018

Summary by loan segment
 
 
 
 
 
 
 
 
 
Government insured/guaranteed
$
68

 
75

 
88

 
87

 
90

Commercial
101

 
124

 
127

 
201

 
176

Consumer
208

 
237

 
236

 
234

 
233

Total foreclosed assets
$
377

 
436

 
451

 
522

 
499

Analysis of changes in foreclosed assets
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
436

 
451

 
522

 
499

 
571

Net change in government insured/guaranteed (1)
(7
)
 
(13
)
 
1

 
(3
)
 
(13
)
Additions to foreclosed assets (2)
144

 
193

 
193

 
209

 
191

Reductions:
 
 
 
 
 
 
 
 
 
Sales
(199
)
 
(205
)
 
(274
)
 
(181
)
 
(257
)
Write-downs and gains (losses) on sales
3

 
10

 
9

 
(2
)
 
7

Total reductions
(196
)
 
(195
)
 
(265
)
 
(183
)
 
(250
)
Balance, end of period
$
377

 
436

 
451

 
522

 
499

(1)
Foreclosed government insured/guaranteed loans are temporarily transferred to and held by us as servicer, until reimbursement is received from FHA or VA.
(2)
Includes loans moved into foreclosed assets from nonaccrual status, PCI loans transitioned directly to foreclosed assets and repossessed automobiles.

Foreclosed assets at June 30, 2019, included $253 million of foreclosed residential real estate, of which 27% is predominantly FHA insured or VA guaranteed and expected to have minimal or no loss content. The remaining amount of foreclosed assets has been written down to estimated net realizable value. Of the $377 million in foreclosed assets at June 30, 2019, 67% have been in the foreclosed assets portfolio one year or less.


37

TROUBLED DEBT RESTRUCTURINGS (TDRs)

Table 24: Troubled Debt Restructurings (TDRs)
(in millions)
Jun 30,
2019


Mar 31,
2019


Dec 31,
2018


Sep 30,
2018


Jun 30,
2018

Commercial:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
1,294

 
1,740

 
1,623

 
1,837

 
1,792

Real estate mortgage
620

 
681

 
704

 
782

 
904

Real estate construction
43

 
45

 
39

 
49

 
40

Lease financing
31

 
46

 
56

 
65

 
50

Total commercial TDRs
1,988

 
2,512

 
2,422

 
2,733

 
2,786

Consumer:
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
8,218

 
10,343

 
10,629

 
10,967

 
11,387

Real estate 1-4 family junior lien mortgage
1,550

 
1,604

 
1,639

 
1,689

 
1,735

Credit Card
486

 
473

 
449

 
431

 
410

Automobile
85

 
85

 
89

 
91

 
81

Other revolving credit and installment
159

 
156

 
154

 
146

 
141

Trial modifications
127

 
136

 
149

 
163

 
200

Total consumer TDRs
10,625

 
12,797

 
13,109

 
13,487

 
13,954

Total TDRs
$
12,613

 
15,309

 
15,531

 
16,220

 
16,740

TDRs on nonaccrual status
$
3,058

 
4,037

 
4,058

 
4,298

 
4,454

TDRs on accrual status:
 
 
 
 
 
 
 
 
 
Government insured/guaranteed
1,209

 
1,275

 
1,299

 
1,308

 
1,368

Non-government insured/guaranteed
8,346

 
9,997

 
10,174

 
10,614

 
10,918

Total TDRs
$
12,613

 
15,309

 
15,531

 
16,220

 
16,740

Table 24 provides information regarding the recorded investment of loans modified in TDRs. The allowance for loan losses for TDRs was $1.1 billion and $1.2 billion at June 30, 2019, and December 31, 2018, respectively. See Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report for additional information regarding TDRs. In those situations where principal is forgiven, the entire amount of such forgiveness is immediately charged off. When we delay the timing on the repayment of a portion of principal (principal forbearance), we charge off the amount of forbearance if that amount is not considered fully collectible.
 
For more information on our nonaccrual policies when a restructuring is involved, see the “Risk Management – Credit Risk Management – Troubled Debt Restructurings (TDRs)” section in our 2018 Form 10-K.
Table 25 provides an analysis of the changes in TDRs. Loans modified more than once are reported as TDR inflows only in the period they are first modified. Other than resolutions such as foreclosures, sales and transfers to held for sale, we may remove loans held for investment from TDR classification, but only if they have been refinanced or restructured at market terms and qualify as new loans.
TDRs of $12.6 billion at June 30, 2019, decreased $2.7 billion from first quarter 2019 primarily due to a decline in consumer TDRs from the reclassification of $1.7 billion in real estate 1-4 family first mortgage TDR loans to MLHFS, as well as paydowns.

38
Risk Management - Credit Risk Management (continued)

Table 25: Analysis of Changes in TDRs
 
 
 
 
 
Quarter ended
 
(in millions)
Jun 30,
2019

 
Mar 31,
2019

 
Dec 31,
2018

 
Sep 30,
2018

 
Jun 30,
2018

Commercial TDRs
 
 
 
 
 
 
 
 
 
Balance, beginning of quarter
$
2,512

 
2,422

 
2,733

 
2,786

 
2,740

Inflows (1)(2)
232

 
539

 
374

 
588

 
481

Outflows
 
 
 
 
 
 
 
 
 
Charge-offs
(37
)
 
(44
)
 
(88
)
 
(92
)
 
(41
)
Foreclosures
—

 
—

 
(2
)
 
(13
)
 
—

Payments, sales and other (2)(3)
(719
)
 
(405
)
 
(595
)
 
(536
)
 
(394
)
Balance, end of quarter
1,988

 
2,512

 
2,422

 
2,733

 
2,786

Consumer TDRs
 
 
 
 
 
 
 
 
 
Balance, beginning of quarter
12,797

 
13,109

 
13,487

 
13,954

 
14,380

Inflows (1)
336

 
439

 
379

 
414

 
467

Outflows
 
 
 
 
 
 
 
 
 
Charge-offs
(61
)
 
(60
)
 
(57
)
 
(56
)
 
(56
)
Foreclosures
(74
)
 
(86
)
 
(90
)
 
(116
)
 
(133
)
Payments, sales and other (3)
(2,364
)
 
(593
)
 
(595
)
 
(672
)
 
(706
)
Net change in trial modifications (4)
(9
)
 
(12
)
 
(15
)
 
(37
)
 
2

Balance, end of quarter
10,625

 
12,797

 
13,109

 
13,487

 
13,954

Total TDRs
$
12,613

 
15,309

 
15,531

 
16,220

 
16,740

(1)
Inflows include loans that modify, even if they resolve within the period, as well as gross advances on term loans that modified in a prior period and net advances on revolving commercial TDRs that modified in a prior period.
(2)
Information for the quarter ended June 30, 2018 has been revised to offset payments and advances (i.e. inflows) on revolving commercial TDRs, for consistent presentation of this activity for all periods.
(3)
Other outflows consist of normal amortization/accretion of loan basis adjustments and loans transferred to held-for-sale. Occasionally, loans that have been refinanced or restructured at market terms qualify as new loans, which are also included as other outflows.
(4)
Net change in trial modifications includes: inflows of new TDRs entering the trial payment period, net of outflows for modifications that either (i) successfully perform and enter into a permanent modification, or (ii) did not successfully perform according to the terms of the trial period plan and are subsequently charged-off, foreclosed upon or otherwise resolved.


39

LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING
Loans 90 days or more past due as to interest or principal are still accruing if they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans are not included in past due and still accruing loans even when they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms.
Excluding insured/guaranteed loans, loans 90 days or more past due and still accruing at June 30, 2019, were down $199 million, or 20%, from December 31, 2018, due to payoffs,
 
other loss mitigation activities, and credit stabilization. Also, fluctuations from quarter to quarter are influenced by seasonality.
Loans 90 days or more past due and still accruing whose repayments are predominantly insured by the FHA or guaranteed by the VA for mortgages were $6.5 billion at June 30, 2019, down from $7.7 billion at December 31, 2018, due to an improvement in delinquencies as well as a reduction in the portfolio.
Table 26 reflects non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. For additional information on delinquencies by loan class, see Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
Table 26: Loans 90 Days or More Past Due and Still Accruing
(in millions)
Jun 30, 2019

 
Mar 31, 2019

 
Dec 31, 2018

 
Sep 30, 2018

 
Jun 30, 2018

Total (excluding PCI (1)):
$
7,258

 
7,870

 
8,704

 
8,838

 
9,087

Less: FHA insured/VA guaranteed (2)
6,478

 
6,996

 
7,725

 
7,906

 
8,246

Total, not government insured/guaranteed
$
780

 
874

 
979

 
932

 
841

By segment and class, not government insured/guaranteed:
Commercial:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
17

 
42

 
43

 
42

 
23

Real estate mortgage
24

 
20

 
51

 
56

 
26

Real estate construction
—

 
5

 
—

 
—

 
—

Total commercial
41


67


94


98


49

Consumer:
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
108

 
117

 
124

 
128

 
132

Real estate 1-4 family junior lien mortgage
27

 
28

 
32

 
32

 
33

Credit card
449

 
502

 
513

 
460

 
429

Automobile
63

 
68

 
114

 
108

 
105

Other revolving credit and installment
92

 
92

 
102

 
106

 
93

Total consumer
739

 
807


885


834


792

Total, not government insured/guaranteed
$
780

 
874


979


932


841

(1)
PCI loans totaled $156 million, $243 million, $370 million, $567 million, and $811 million at June 30, and March 31, 2019, and December 31, September 30, and June 30, 2018, respectively.
(2)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.


40
Risk Management - Credit Risk Management (continued)

NET CHARGE-OFFS

Table 27: Net Charge-offs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended 
 
 
Jun 30, 2019
 
 
Mar 31, 2019
 
 
Dec 31, 2018
 
 
Sep 30, 2018
 
 
Jun 30, 2018
 
($ in millions)
Net loan
charge-
offs

 
% of 
avg. 
loans(1) 

 
Net loan
charge-
offs

 
% of avg. loans (1)

 
Net loan
charge-
offs

 
% of avg. loans (1)

 
Net loan
charge-offs

 
% of
avg. loans (1)

 
Net loan
charge-offs

 
% of
avg.
loans (1)

Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
159

 
0.18
 %
 
$
133

 
0.15
 %
 
$
132

 
0.15
 %
 
$
148

 
0.18
 %
 
$
58

 
0.07
 %
Real estate mortgage
4

 
0.01

 
6

 
0.02

 
(12
)
 
(0.04
)
 
(1
)
 
—

 
—

 
—

Real estate construction
(2
)
 
(0.04
)
 
(2
)
 
(0.04
)
 
(1
)
 
(0.01
)
 
(2
)
 
(0.04
)
 
(6
)
 
(0.09
)
Lease financing
4

 
0.09

 
8

 
0.17

 
13

 
0.26

 
7

 
0.14

 
15

 
0.32

Total commercial
165

 
0.13

 
145

 
0.11

 
132

 
0.10

 
152

 
0.12

 
67

 
0.05

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family
first mortgage
(30
)
 
(0.04
)
 
(12
)
 
(0.02
)
 
(22
)
 
(0.03
)
 
(25
)
 
(0.04
)
 
(23
)
 
(0.03
)
Real estate 1-4 family
junior lien mortgage
(19
)
 
(0.24
)
 
(9
)
 
(0.10
)
 
(10
)
 
(0.11
)
 
(9
)
 
(0.10
)
 
(13
)
 
(0.13
)
Credit card
349

 
3.68

 
352

 
3.73

 
338

 
3.54

 
299

 
3.22

 
323

 
3.61

Automobile
52

 
0.46

 
91

 
0.82

 
133

 
1.16

 
130

 
1.10

 
113

 
0.93

Other revolving credit and
installment
136

 
1.56

 
128

 
1.47

 
150

 
1.64

 
133

 
1.44

 
135

 
1.44

Total consumer
488

 
0.45

 
550

 
0.51

 
589

 
0.53

 
528

 
0.47

 
535

 
0.49

Total
$
653

 
0.28
 %
 
$
695

 
0.30
 %
 
$
721

 
0.30
 %
 
$
680

 
0.29
 %
 
$
602

 
0.26
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Quarterly net charge-offs (recoveries) as a percentage of average respective loans are annualized.

Table 27 presents net charge-offs for second quarter 2019 and the previous four quarters. Net charge-offs in second quarter 2019 were $653 million (0.28% of average total loans outstanding), compared with $602 million (0.26%) in second quarter 2018.
The increase in commercial net charge-offs from second quarter 2018 was due to higher commercial and industrial loan charge-offs and lower recoveries in the commercial and industrial portfolio. Consumer net charge-offs decreased from the prior year predominantly due to a decrease in automobile net charge-offs, partially offset by an increase in credit card net charge-offs.
ALLOWANCE FOR CREDIT LOSSES  The allowance for credit losses, which consists of the allowance for loan losses and the allowance for unfunded credit commitments, is management’s estimate of credit losses inherent in the loan portfolio and unfunded credit commitments at the balance sheet date, excluding loans carried at fair value. The detail of the changes in the allowance for credit losses by portfolio segment (including charge-offs and recoveries by loan class) is in Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
 
We apply a disciplined process and methodology to establish our allowance for credit losses each quarter. This process takes into consideration many factors, including historical and forecasted loss trends, loan-level credit quality ratings and loan grade-specific characteristics. The process involves subjective and complex judgments. In addition, we review a variety of credit metrics and trends. These credit metrics and trends, however, do not solely determine the amount of the allowance as we use several analytical tools. Our estimation approach for the commercial portfolio reflects the estimated probability of default in accordance with the borrower’s financial strength, and the severity of loss in the event of default, considering the quality of any underlying collateral. Probability of default and severity at the time of default are statistically derived through historical observations of defaults and losses after default within each credit risk rating. Our estimation approach for the consumer portfolio uses forecasted losses that represent our best estimate of inherent loss based on historical experience, quantitative and other mathematical techniques. For additional information on our allowance for credit losses, see the “Critical Accounting Policies – Allowance for Credit Losses” section in our 2018 Form 10-K and Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
Table 28 presents the allocation of the allowance for credit losses by loan segment and class for the most recent quarter end and last four year ends.

41

Table 28: Allocation of the Allowance for Credit Losses (ACL)
 
Jun 30, 2019
 
 
Dec 31, 2018
 
 
Dec 31, 2017
 
 
Dec 31, 2016
 
 
Dec 31, 2015
 
(in millions)
ACL

 
Loans
as %
of total
loans

 
ACL

 
Loans
as %
of total
loans

 
ACL

 
Loans
as %
of total
loans

 
ACL

 
Loans
as %
of total
loans

 
ACL

 
Loans
as %
of total
loans

Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
3,583

 
37
%
 
$
3,628

 
37
%
 
$
3,752

 
35
%
 
$
4,560

 
34
%
 
$
4,231

 
33
%
Real estate mortgage
1,275

 
13

 
1,282

 
13

 
1,374

 
13

 
1,320

 
14

 
1,264

 
13

Real estate construction
1,122

 
2

 
1,200

 
2

 
1,238

 
3

 
1,294

 
2

 
1,210

 
3

Lease financing
318

 
2

 
307

 
2

 
268

 
2

 
220

 
2

 
167

 
1

Total commercial
6,298

 
54

 
6,417

 
54

 
6,632

 
53

 
7,394

 
52

 
6,872

 
50

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
729

 
30

 
750

 
30

 
1,085

 
30

 
1,270

 
29

 
1,895

 
30

Real estate 1-4 family
junior lien mortgage
294

 
3

 
431

 
3

 
608

 
4

 
815

 
5

 
1,223

 
6

Credit card
2,249

 
4

 
2,064

 
4

 
1,944

 
4

 
1,605

 
4

 
1,412

 
4

Automobile
462

 
5

 
475

 
5

 
1,039

 
5

 
817

 
6

 
529

 
6

Other revolving credit and installment
571

 
4

 
570

 
4

 
652

 
4

 
639

 
4

 
581

 
4

Total consumer
4,305

 
46

 
4,290

 
46

 
5,328

 
47

 
5,146

 
48

 
5,640

 
50

Total
$
10,603

 
100
%
 
$
10,707

 
100
%
 
$
11,960

 
100
%
 
$
12,540

 
100
%
 
$
12,512

 
100
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Jun 30, 2019
 
 
Dec 31, 2018
 
 
Dec 31, 2017
 
 
Dec 31, 2016
 
 
Dec 31, 2015
 
Components:
 
 
 
 
 
 
 
 
 
Allowance for loan losses
$
9,692
 
 
9,775
 
 
11,004
 
 
11,419
 
 
11,545
 
Allowance for unfunded
credit commitments
911
 
 
932
 
 
956
 
 
1,121
 
 
967
 
Allowance for credit losses
$
10,603
 
 
10,707
 
 
11,960
 
 
12,540
 
 
12,512
 
Allowance for loan losses as a percentage of total loans
1.02
%
 
1.03
 
 
1.15
 
 
1.18
 
 
1.26
 
Allowance for loan losses as a percentage of total net charge-offs (1)
370
 
 
356
 
 
376
 
 
324
 
 
399
 
Allowance for credit losses as a percentage of total loans
1.12
 
 
1.12
 
 
1.25
 
 
1.30
 
 
1.37
 
Allowance for credit losses as a percentage of total nonaccrual loans
179
 
 
165
 
 
156
 
 
126
 
 
115
 
(1)
Total net charge-offs are annualized for quarter ended June 30, 2019.

In addition to the allowance for credit losses, there was $595 million at June 30, 2019, and $480 million at December 31, 2018, of nonaccretable difference to absorb losses on PCI loans of $1.2 billion at June 30, 2019 and $5.0 billion at December 31, 2018. The allowance for credit losses is lower than otherwise would have been required without PCI loan accounting. As a result of PCI loans, certain ratios of the Company may not be directly comparable with credit-related metrics for other financial institutions. For additional information on PCI loans, see the “Risk Management – Credit Risk Management – Purchased Credit-Impaired Loans” section and Note 6 (Loans and Allowance for Credit Losses) to Financial Statements in this Report.
The ratio of the allowance for credit losses to total nonaccrual loans may fluctuate significantly from period to period due to such factors as the mix of loan types in the portfolio, borrower credit strength and the value and marketability of collateral.
The allowance for credit losses decreased $104 million, or 1%, from December 31, 2018, primarily driven by strong overall credit portfolio performance. Total provision for credit losses was $503 million in second quarter 2019, compared with $452 million in second quarter 2018. The increase in the provision for credit losses in second quarter 2019, compared with
 
the same period a year ago, was due to loan growth, primarily in the credit card portfolio.
We believe the allowance for credit losses of $10.6 billion at June 30, 2019, was appropriate to cover credit losses inherent in the loan portfolio, including unfunded credit commitments, at that date. The entire allowance is available to absorb credit losses inherent in the total loan portfolio. The allowance for credit losses is subject to change and reflects existing factors as of the date of determination, including economic or market conditions and ongoing internal and external examination processes. Due to the sensitivity of the allowance for credit losses to changes in the economic and business environment, it is possible that we will incur incremental credit losses not anticipated as of the balance sheet date. Future allowance levels will be based on a variety of factors, including loan growth, portfolio performance and general economic conditions. Our process for determining the allowance for credit losses is discussed in the “Critical Accounting Policies – Allowance for Credit Losses” section and Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K.

42

LIABILITY FOR MORTGAGE LOAN REPURCHASE LOSSES For information on our repurchase liability, see the “Risk Management – Credit Risk Management – Liability For Mortgage Loan Repurchase Losses” section in our 2018 Form 10-K.

RISKS RELATING TO SERVICING ACTIVITIES In addition to servicing loans in our portfolio, we act as servicer and/or master servicer of residential mortgage loans included in GSE-guaranteed mortgage securitizations, GNMA-guaranteed mortgage securitizations of FHA-insured/VA-guaranteed mortgages and private label mortgage securitizations, as well as for unsecuritized loans owned by institutional investors. In connection with our servicing activities, we could become subject to consent orders and settlement agreements with federal and state regulators for alleged servicing issues and practices. In general, these can require us to provide customers with loan modification relief, refinancing relief, and foreclosure prevention and assistance, as well as can impose certain monetary penalties on us.
For additional information about the risks related to our servicing activities, see the “Risk Management – Credit Risk Management – Risks Relating to Servicing Activities” section in our 2018 Form 10-K.

Asset/Liability Management
Asset/liability management involves evaluating, monitoring and managing interest rate risk, market risk, liquidity and funding. Primary oversight of interest rate risk and market risk resides with the Finance Committee of our Board of Directors (Board), which oversees the administration and effectiveness of financial risk management policies and processes used to assess and manage these risks. Primary oversight of liquidity and funding resides with the Risk Committee of the Board. At the management level we utilize a Corporate Asset/Liability Management Committee (Corporate ALCO), which consists of senior financial, risk, and business executives, to oversee these risks and report on them periodically to the Board’s Finance Committee and Risk Committee as appropriate. As discussed in more detail for market risk activities below, we employ separate management level oversight specific to market risk.
 
INTEREST RATE RISK Interest rate risk, which potentially can have a significant earnings impact, is an integral part of being a financial intermediary. We are subject to interest rate risk because:
•
assets and liabilities may mature or reprice at different times (for example, if assets reprice faster than liabilities and interest rates are generally rising, earnings will initially increase);
•
assets and liabilities may reprice at the same time but by different amounts (for example, when the general level of interest rates is rising, we may increase rates paid on checking and savings deposit accounts by an amount that is less than the general rise in market interest rates);

 
•
short-term and long-term market interest rates may change by different amounts (for example, the shape of the yield curve may affect new loan yields and funding costs differently);
•
the remaining maturity of various assets or liabilities may shorten or lengthen as interest rates change (for example, if long-term mortgage interest rates increase sharply, MBS held in the debt securities portfolio may pay down slower than anticipated, which could impact portfolio income); or
•
interest rates may also have a direct or indirect effect on loan demand, collateral values, credit losses, mortgage origination volume, the fair value of MSRs and other financial instruments, the value of the pension liability and other items affecting earnings.

We assess interest rate risk by comparing outcomes under various net interest income simulations using many interest rate scenarios that differ in the direction of interest rate changes, the degree of change over time, the speed of change and the projected shape of the yield curve. These simulations require assumptions regarding drivers of earnings and balance sheet composition such as loan originations, prepayment speeds on loans and debt securities, deposit flows and mix, as well as pricing strategies.
Currently, our profile is such that we project net interest income will benefit modestly from higher interest rates as our assets would reprice faster and to a greater degree than our liabilities, while in the case of lower interest rates, our assets would reprice downward and to a greater degree than our liabilities.
Our most recent simulations estimate net interest income sensitivity over the next two years under a range of both lower and higher interest rates. Measured impacts from standardized ramps (gradual changes) and shocks (instantaneous changes) are summarized in Table 29, indicating net interest income sensitivity relative to the Company’s base net interest income plan. Ramp scenarios assume interest rates move gradually in parallel across the yield curve relative to the base scenario in year one, and the full amount of the ramp is held as a constant differential to the base scenario in year two. The following describes the simulation assumptions for the scenarios presented in Table 29:
•
Simulations are dynamic and reflect anticipated growth across assets and liabilities.
•
Other macroeconomic variables that could be correlated with the changes in interest rates are held constant.
•
Mortgage prepayment and origination assumptions vary across scenarios and reflect only the impact of the higher or lower interest rates.
•
Our base scenario deposit forecast incorporates mix changes consistent with the base interest rate trajectory. Deposit mix is modeled to be the same as in the base scenario across the alternative scenarios. In higher interest rate scenarios, customer activity that shifts balances into higher-yielding products could reduce expected net interest income.
•
We hold the size of the projected debt and equity securities portfolios constant across scenarios.

43

Table 29: Net Interest Income Sensitivity Over Next Two-Year Horizon Relative to Base Expectation
 
 
 
Lower Rates
 
Higher Rates
($ in billions)
Base
 
100 bps
Ramp
Parallel
 Decrease
 
100 bps Instantaneous
Parallel
Increase
 
200 bps
Ramp
Parallel
Increase
First Year of Forecasting Horizon
 
 
 
 
 
 
 
Net Interest Income Sensitivity to Base Scenario
 
$
(1.2) - (0.7)
 
1.2 - 1.7
 
1.0 - 1.5
Key Rates at Horizon End
 
 
 
 
 
 
 
Fed Funds Target
2.50
%
1.50
 
3.50
 
4.50
10-year CMT (1)
2.87
 
1.87
 
3.87
 
4.87
Second Year of Forecasting Horizon
 
 
 
 
 
 
 
Net Interest Income Sensitivity to Base Scenario
 
$
(3.1) - (2.6 )
 
1.6 - 2.1
 
2.3 - 2.8
Key Rates at Horizon End
 
 
 
 
 
 
 
Fed Funds Target
2.50
%
1.50
 
3.50
 
4.50
10-year CMT (1)
3.16
 
2.16
 
4.16
 
5.16
(1)
U.S. Constant Maturity Treasury Rate

The sensitivity results above do not capture interest rate sensitive noninterest income and expense impacts. Our interest rate sensitive noninterest income and expense is predominantly driven by mortgage activity, and may move in the opposite direction of our net interest income. Typically, in response to higher interest rates, mortgage activity, primarily refinancing activity, generally declines. And in response to lower interest rates, mortgage activity generally increases. Mortgage results are also impacted by the valuation of MSRs and related hedge positions. See the “Risk Management – Asset/Liability Management – Mortgage Banking Interest Rate and Market Risk” section in this Report for more information.
Interest rate sensitive noninterest income also results from changes in earnings credit for non-interest bearing deposits that reduce treasury management deposit service fees. Additionally, for the trading portfolio, our trading assets are (before the effects of certain economic hedges) generally less sensitive to changes in interest rates than the related funding liabilities. As a result, net interest income from the trading portfolio contracts and expands as interest rates rise and fall, respectively. The impact to net interest income does not include the fair value changes of trading securities and loans, which, along with the effects of related economic hedges, are recorded in noninterest income.
We use the debt securities portfolio and exchange-traded and over-the-counter (OTC) interest rate derivatives to hedge our interest rate exposures. See the “Balance Sheet Analysis – Available-for-Sale and Held-to-Maturity Debt Securities” section in this Report for more information on the use of the available-for-sale and held-to-maturity securities portfolios. The notional or contractual amount, credit risk amount and fair value of the derivatives used to hedge our interest rate risk exposures as of June 30, 2019, and December 31, 2018, are presented in Note 15 (Derivatives) to Financial Statements in this Report. We use derivatives for asset/liability management in two main ways:
•
to convert the cash flows from selected asset and/or liability instruments/portfolios including investments, commercial loans and long-term debt, from fixed-rate payments to floating-rate payments, or vice versa; and
•
to economically hedge our mortgage origination pipeline, funded mortgage loans and MSRs using interest rate swaps, swaptions, futures, forwards and options.
 
 
MORTGAGE BANKING INTEREST RATE AND MARKET RISK  We originate, fund and service mortgage loans, which subjects us to various risks, including credit, liquidity and interest rate risks. For more information on mortgage banking interest rate and market risk, see the “Risk Management – Asset/Liability Management – Mortgage Banking Interest Rate and Market Risk” section in our 2018 Form 10-K.
While our hedging activities are designed to balance our mortgage banking interest rate risks, the financial instruments we use may not perfectly correlate with the values and income being hedged. For example, the change in the value of ARM production held for sale from changes in mortgage interest rates may or may not be fully offset by index-based financial instruments used as economic hedges for such ARMs. Additionally, hedge-carry income on our economic hedges for the MSRs may not continue at recent levels if the spread between short-term and long-term interest rates decreases, the overall level of hedges changes as interest rates change, or there are other changes in the market for mortgage forwards that affect the implied carry.
The total carrying value of our residential and commercial MSRs was $13.5 billion at June 30, 2019, and $16.1 billion at December 31, 2018. The weighted-average note rate on our portfolio of loans serviced for others was 4.33% at June 30, 2019, and 4.32% at December 31, 2018. The carrying value of our total MSRs represented 0.82% of mortgage loans serviced for others at June 30, 2019, and 0.94% of mortgage loans serviced for others at December 31, 2018.
 
MARKET RISK Market risk is the risk of possible economic loss from adverse changes in market risk factors such as interest rates, credit spreads, foreign exchange rates, equity and commodity prices, and the risk of possible loss due to counterparty risk. This includes implied volatility risk, basis risk, and market liquidity risk. Market risk also includes counterparty credit risk, price risk in the trading book, mortgage servicing rights and the associated hedge effectiveness risk associated with the mortgage book, and impairment on private equity investments.
The Board’s Finance Committee has primary oversight responsibility for market risk and oversees the Company’s market risk exposure and market risk management strategies. In addition, the Board’s Risk Committee has certain oversight responsibilities with respect to market risk, including adjusting the Company’s market risk appetite with input from the Finance Committee. The Finance Committee also reports key market risk matters to the Risk Committee.
At the management level, the Market and Counterparty Risk Management function, which is part of Corporate Risk, has primary oversight responsibility for market risk. The Market and Counterparty Risk Management function reports into the CRO and also provides periodic reporting related to market risk to the Board’s Finance Committee. In addition, the Risk & Control Committee for each business group and enterprise function reports market risk matters to the Enterprise Risk & Control Committee.

MARKET RISK – TRADING ACTIVITIES  We engage in trading activities to accommodate the investment and risk management activities of our customers and to execute economic hedging to manage certain balance sheet risks. These trading activities predominantly occur within our Wholesale Banking businesses and to a lesser extent other divisions of the Company. Debt securities held for trading, equity securities held for trading, trading loans and trading derivatives are financial instruments

44
Asset/Liability Management (continued)

used in our trading activities, and all are carried at fair value. Income earned on the financial instruments used in our trading activities include net interest income, changes in fair value and realized gains and losses. Net interest income earned from our trading activities is reflected in the interest income and interest expense components of our income statement. Changes in fair value of the financial instruments used in our trading activities are reflected in net gains on trading activities, a component of noninterest income in our income statement. For more information on the financial instruments used in our trading activities and the income from these trading activities, see Note 4 (Trading Activities) to Financial Statements in this Report.
Value-at-risk (VaR) is a statistical risk measure used to estimate the potential loss from adverse moves in the financial markets. The Company uses VaR metrics complemented with sensitivity analysis and stress testing in measuring and monitoring market risk. For more information, including information regarding our monitoring activities, sensitivity analysis and stress testing, see the “Risk Management – Asset/
 
Liability Management – Market Risk – Trading Activities” section in our 2018 Form 10-K.
Trading VaR is the measure used to provide insight into the market risk exhibited by the Company’s trading positions. The
Company calculates Trading VaR for risk management purposes to establish line of business and Company-wide risk limits. Trading VaR is calculated based on all trading positions on our balance sheet.
Table 30 shows the Company’s Trading General VaR by risk category. As presented in Table 30, average Company Trading General VaR was $20 million for the quarter ended June 30, 2019, compared with $15 million for the quarter ended March 31, 2019, and $15 million for the quarter ended June 30, 2018. The increase in average Company Trading General VaR for the quarter ended June 30, 2019, compared with the quarter ended June 30, 2018, was mainly driven by changes in portfolio composition.
Table 30: Trading 1-Day 99% General VaR by Risk Category
 
 
 
Quarter ended
 
 
June 30, 2019
 
 
March 31, 2019
 
 
June 30, 2018
 
(in millions)
Period
end

 
Average

 
Low

 
High

 
Period
end

 
Average

 
Low

 
High

 
Period
end

 
Average

 
Low

 
High

Company Trading General VaR Risk Categories
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
$
15

 
15

 
11

 
18

 
15

 
15

 
11

 
19

 
17

 
18

 
15

 
20

Interest rate
29

 
37

 
27

 
49

 
42

 
34

 
22

 
44

 
18

 
17

 
11

 
24

Equity
4

 
5

 
4

 
8

 
5

 
5

 
4

 
7

 
8

 
7

 
5

 
16

Commodity
2

 
2

 
1

 
6

 
2

 
2

 
1

 
4

 
1

 
1

 
1

 
1

Foreign exchange
1

 
1

 
1

 
1

 
1

 
1

 
1

 
1

 
0

 
0

 
0

 
1

Diversification benefit (1)
(32
)
 
(40
)
 


 
 
 
(46
)
 
(42
)
 
 
 
 
 
(29
)
 
(28
)
 
 
 
 
Company Trading General VaR
$
19

 
20

 
 
 
 
 
19

 
15

 
 
 
 
 
15

 
15

 
 
 
 
(1)
The period-end VaR was less than the sum of the VaR components described above, which is due to portfolio diversification. The diversification effect arises because the risks are not perfectly correlated causing a portfolio of positions to usually be less risky than the sum of the risks of the positions alone. The diversification benefit is not meaningful for low and high metrics since they may occur on different days.

MARKET RISK – EQUITY SECURITIES  We are directly and indirectly affected by changes in the equity markets. We make and manage direct investments in start-up businesses, emerging growth companies, management buy-outs, acquisitions and corporate recapitalizations. We also invest in non-affiliated funds that make similar private equity investments. These private equity investments are made within capital allocations approved by management and the Board. The Board’s policy is to review business developments, key risks and historical returns for the private equity investment portfolio at least annually. Management reviews these investments at least quarterly and assesses them for possible OTTI and observable price changes. For nonmarketable equity securities, the analysis is based on facts and circumstances of each individual investment and the expectations for that investment’s cash flows, capital needs, the viability of its business model, our exit strategy, and observable price changes that are similar to the investment held. Investments in nonmarketable equity securities include private equity investments accounted for under the equity method, fair value through net income, and the measurement alternative.
In conjunction with the March 2008 initial public offering (IPO) of Visa, Inc. (Visa), we received approximately 20.7 million shares of Visa Class B common stock, the class which was apportioned to member banks of Visa at the time of the IPO. To
 
manage our exposure to Visa and realize the value of the appreciated Visa shares, we incrementally sold these shares
through a series of sales, thereby eliminating this position as of September 30, 2015. As part of these sales, we agreed to compensate the buyer for any additional contributions to a litigation settlement fund for the litigation matters associated with the Class B shares we sold. Our exposure to this retained litigation risk has been updated quarterly and is reflected on our balance sheet. For additional information about the associated litigation matters, see the “Interchange Litigation” section in Note 14 (Legal Actions) to Financial Statements in this Report.
As part of our business to support our customers, we trade public equities, listed/OTC equity derivatives and convertible bonds. We have parameters that govern these activities. We also have marketable equity securities that include investments relating to our venture capital activities. We manage these marketable equity securities within capital risk limits approved by management and the Board and monitored by Corporate ALCO and the Market Risk Committee. The fair value changes in these marketable equity securities are recognized in net income. For more information, see Note 8 (Equity Securities) to Financial Statements in this Report.
Changes in equity market prices may also indirectly affect our net income by (1) the value of third party assets under management and, hence, fee income, (2) borrowers whose ability to repay principal and/or interest may be affected by the stock

45

market, or (3) brokerage activity, related commission income and other business activities. Each business line monitors and manages these indirect risks.

LIQUIDITY AND FUNDING  The objective of effective liquidity management is to ensure that we can meet customer loan requests, customer deposit maturities/withdrawals and other cash commitments efficiently under both normal operating conditions and under periods of Wells Fargo-specific and/or market stress. To achieve this objective, the Board of Directors establishes liquidity guidelines that require sufficient asset-based liquidity to cover potential funding requirements and to avoid over-dependence on volatile, less reliable funding markets. These guidelines are monitored on a monthly basis by the Corporate ALCO and on a quarterly basis by the Board of Directors. These guidelines are established and monitored for both the consolidated company and for the Parent on a stand-alone basis to ensure that the Parent is a source of strength for its regulated, deposit-taking banking subsidiaries.

Liquidity Standards We are subject to a rule, issued by the FRB, OCC and FDIC, that implemented a quantitative liquidity requirement consistent with the liquidity coverage ratio (LCR) established by the Basel Committee on Banking Supervision (BCBS). The rule requires banking institutions, such as Wells Fargo, to hold high-quality liquid assets (HQLA), such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash, in an amount equal to or greater than its projected net cash outflows during a 30-day stress period. The rule is applicable to the Company on a consolidated basis and to our insured depository institutions with total assets greater than $10 billion. In addition, rules issued by the FRB impose enhanced liquidity management standards on large bank holding companies (BHC) such as Wells Fargo.
The FRB, OCC and FDIC have proposed a rule that would implement a stable funding requirement, the net stable funding ratio (NSFR), which would require large banking organizations, such as Wells Fargo, to maintain a sufficient amount of stable funding in relation to their assets, derivative exposures and commitments over a one-year horizon period.

Liquidity Coverage Ratio As of June 30, 2019, the consolidated Company and Wells Fargo Bank, N.A. were above
 
the minimum LCR requirement of 100%, which is calculated as HQLA divided by projected net cash outflows, as each is defined under the LCR rule. Table 31 presents the Company’s quarterly average values for the daily-calculated LCR and its components calculated pursuant to the LCR rule requirements.

Table 31: Liquidity Coverage Ratio
(in millions, except ratio)
Average for Quarter ended June 30, 2019

HQLA (1)(2)
$
352,298

Projected net cash outflows
291,624

LCR
121
%
(1) Excludes excess HQLA at Wells Fargo Bank, N.A.
(2) Net of applicable haircuts required under the LCR rule.

Liquidity Sources We maintain liquidity in the form of cash, cash equivalents and unencumbered high-quality, liquid debt securities. These assets make up our primary sources of liquidity which are presented in Table 32. Our primary sources of liquidity are substantially the same in composition as HQLA under the LCR rule; however, our primary sources of liquidity will generally exceed HQLA calculated under the LCR rule due to the applicable haircuts to HQLA and the exclusion of excess HQLA at our subsidiary insured depository institutions required under the LCR rule.
Our cash is predominantly on deposit with the Federal Reserve. Debt securities included as part of our primary sources of liquidity are comprised of U.S. Treasury and federal agency debt, and mortgage-backed securities issued by federal agencies within our debt securities portfolio. We believe these debt securities provide quick sources of liquidity through sales or by pledging to obtain financing, regardless of market conditions. Some of these debt securities are within the held-to-maturity portion of our debt securities portfolio and as such are not intended for sale but may be pledged to obtain financing. Some of the legal entities within our consolidated group of companies are subject to various regulatory, tax, legal and other restrictions that can limit the transferability of their funds. We believe we maintain adequate liquidity for these entities in consideration of such funds transfer restrictions.
Table 32: Primary Sources of Liquidity
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Total

 
Encumbered

 
Unencumbered

 
Total

 
Encumbered

 
Unencumbered

Interest-earning deposits with banks
$
143,547

 
—

 
143,547

 
149,736

 
—

 
149,736

Debt securities of U.S. Treasury and federal agencies
60,655

 
2,384

 
58,271

 
57,688

 
1,504

 
56,184

Mortgage-backed securities of federal agencies (1)
249,619

 
34,627

 
214,992

 
244,211

 
35,656

 
208,555

Total
$
453,821

 
37,011

 
416,810

 
451,635

 
37,160

 
414,475

(1)
Included in encumbered debt securities at June 30, 2019, were debt securities with a fair value of $2.1 billion which were purchased in June 2019, but settled in July 2019.

In addition to our primary sources of liquidity shown in Table 32, liquidity is also available through the sale or financing of other debt securities including trading and/or available-for-sale debt securities, as well as through the sale, securitization or financing of loans, to the extent such debt securities and loans are not encumbered. In addition, other debt securities in our held-to-maturity portfolio, to the extent not encumbered, may be pledged to obtain financing.
 
Deposits have historically provided a sizable source of relatively low-cost funds. Deposits were 136% of total loans at June 30, 2019, and 135% at December 31, 2018.
Additional funding is provided by long-term debt and short-term borrowings. We access domestic and international capital markets for long-term funding (generally greater than one year) through issuances of registered debt securities, private placements and asset-backed secured funding.

46
Asset/Liability Management (continued)

Table 33 shows selected information for short-term borrowings, which generally mature in less than 30 days.
Table 33: Short-Term Borrowings
 
Quarter ended
 
(in millions)
Jun 30
2019

 
Mar 31,
2019

 
Dec 31,
2018

 
Sep 30,
2018

 
Jun 30,
2018

Balance, period end
 
 
 
 
 
 
 
 
 
Federal funds purchased and securities sold under agreements to repurchase
$
102,560

 
93,896

 
92,430

 
92,418

 
89,307

Other short-term borrowings
12,784

 
12,701

 
13,357

 
13,033

 
15,189

Total
$
115,344

 
106,597

 
105,787

 
105,451

 
104,496

Average daily balance for period
 
 
 
 
 
 
 
 
 
Federal funds purchased and securities sold under agreements to repurchase
$
102,557

 
95,721

 
93,483

 
92,141

 
89,138

Other short-term borrowings
12,197

 
12,930

 
12,479

 
13,331

 
14,657

Total
$
114,754

 
108,651

 
105,962

 
105,472

 
103,795

Maximum month-end balance for period
 
 
 
 
 
 
 
 
 
Federal funds purchased and securities sold under agreements to repurchase (1)
$
105,098

 
97,650

 
93,918

 
92,531

 
92,103

Other short-term borrowings (2)
12,784

 
14,129

 
13,357

 
14,270

 
15,272

(1)
Highest month-end balance in each of the last five quarters was in May and January 2019, and November, July and May 2018.
(2)
Highest month-end balance in each of the last five quarters was in June and February 2019, and December, July and May 2018.

Long-Term Debt We issue long-term debt in a variety of maturities and currencies to achieve cost-efficient funding and to maintain an appropriate maturity profile. Long-term debt of $241.5 billion at June 30, 2019, increased $12.4 billion from December 31, 2018. We issued $15.8 billion and $33.1 billion of
 
long-term debt in the second quarter and first half of 2019, respectively. Table 34 provides the aggregate carrying value of long-term debt maturities (based on contractual payment dates) for the remainder of 2019 and the following years thereafter, as of June 30, 2019.
Table 34: Maturity of Long-Term Debt
 
June 30, 2019
 
(in millions)
Remaining 2019

 
2020

 
2021

 
2022

 
2023

 
Thereafter

 
Total

Wells Fargo & Company (Parent Only)
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$
1,280

 
13,497

 
18,146

 
18,028

 
11,092

 
54,815

 
116,858

Subordinated notes
—

 
—

 
—

 
—

 
3,655

 
23,619

 
27,274

Junior subordinated notes
—

 
—

 
—

 
—

 
—

 
1,733

 
1,733

Total long-term debt - Parent
$
1,280

 
13,497

 
18,146

 
18,028

 
14,747

 
80,167

 
145,865

Wells Fargo Bank, N.A. and other bank entities (Bank)
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$
17,219

 
30,630

 
27,232

 
2,148

 
2,883

 
181

 
80,293

Subordinated notes
—

 
—

 
—

 
—

 
1,041

 
4,354

 
5,395

Junior subordinated notes
—

 
—

 
—

 
—

 
—

 
357

 
357

Securitizations and other bank debt
1,302

 
1,793

 
861

 
418

 
108

 
2,035

 
6,517

Total long-term debt - Bank
$
18,521

 
32,423

 
28,093

 
2,566

 
4,032

 
6,927

 
92,562

Other consolidated subsidiaries
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$
1,146

 
66

 
1,123

 
12

 
422

 
248

 
3,017

Securitizations and other bank debt
—

 
—

 
—

 
—

 
—

 
32

 
32

Total long-term debt - Other consolidated subsidiaries
$
1,146

 
66

 
1,123

 
12

 
422

 
280

 
3,049

Total long-term debt
$
20,947

 
45,986

 
47,362

 
20,606

 
19,201

 
87,374

 
241,476

Parent In March 2019, the Securities and Exchange Commission (SEC) declared effective the Parent’s registration statement for the issuance of up to $50 billion of senior and subordinated notes, preferred stock and other securities. At June 30, 2019, the Parent’s remaining authorized issuance capacity under this registration statement was $47.5 billion. The Parent’s overall ability to issue debt securities is limited by the debt issuance authority granted by the Board. As of June 30, 2019, the Parent was authorized by the Board to issue up to $200 billion in outstanding long-term debt. The Parent’s long-term debt issuance authority granted by the Board includes debt
 
issued to affiliates and others. At June 30, 2019, the Parent had available $52.3 billion in long-term debt issuance authority, net of debt issued to affiliates. During the first half of 2019, the Parent issued $11.3 billion of senior notes, most of which were registered with the SEC. The Parent’s short-term debt issuance authority granted by the Board was limited to debt issued to affiliates, and was revoked by the Board at management’s request in January 2018.
The Parent’s proceeds from securities issued were used for general corporate purposes, and, unless otherwise specified in the applicable prospectus or prospectus supplement, we expect the

47

proceeds from securities issued in the future will be used for the same purposes. Depending on market conditions, we may purchase our outstanding debt securities from time to time in privately negotiated or open market transactions, by tender offer, or otherwise.

Wells Fargo Bank, N.A. As of June 30, 2019, Wells Fargo Bank, N.A. was authorized by its board of directors to issue $100 billion in outstanding short-term debt and $175 billion in outstanding long-term debt and had available $98.9 billion in short-term debt issuance authority and $97.7 billion in long-term debt issuance authority. In April 2018, Wells Fargo Bank, N.A. established a $100 billion bank note program under which, subject to any other debt outstanding under the limits described above, it may issue $50 billion in outstanding short-term senior notes and $50 billion in outstanding long-term senior or subordinated notes. At June 30, 2019, Wells Fargo Bank, N.A. had remaining issuance capacity under the bank note program of $50.0 billion in short-term senior notes and $34.2 billion in long-term senior or subordinated notes. During the first half of 2019, Wells Fargo Bank, N.A. issued $6.7 billion of unregistered senior notes.
During the first half of 2019, Wells Fargo Bank, N.A. borrowed $8.5 billion from the Federal Home Loan Bank of Des Moines, and as of June 30, 2019, Wells Fargo Bank, N.A. had outstanding advances of $45.9 billion across the Federal Home Loan Bank System. Federal Home Loan Bank advances are reflected as short-term borrowings or long-term debt on the Company’s balance sheet.
 
Credit Ratings Investors in the long-term capital markets, as well as other market participants, generally will consider, among other factors, a company’s debt rating in making investment decisions. Rating agencies base their ratings on many quantitative and qualitative factors, including capital adequacy, liquidity, asset quality, business mix, the level and quality of earnings, and rating agency assumptions regarding the probability and extent of federal financial assistance or support for certain large financial institutions. Adverse changes in these factors could result in a reduction of our credit rating; however, our debt securities do not contain credit rating covenants.
On April 1, 2019, S&P Global Ratings affirmed the credit ratings for both the Parent and Wells Fargo Bank, N.A., but revised the ratings outlook for the Parent to negative from stable. There were no other actions undertaken by the rating agencies with regard to our credit ratings during second quarter 2019. Both the Parent and Wells Fargo Bank, N.A. remain among the highest-rated financial firms in the U.S.
See the “Risk Factors” section in our 2018 Form 10-K for additional information regarding our credit ratings and the potential impact a credit rating downgrade would have on our liquidity and operations, as well as Note 15 (Derivatives) to Financial Statements in this Report for information regarding additional collateral and funding obligations required for certain derivative instruments in the event our credit ratings were to fall below investment grade.
The credit ratings of the Parent and Wells Fargo Bank, N.A. as of June 30, 2019, are presented in Table 35.
Table 35: Credit Ratings as of June 30, 2019
 
Wells Fargo & Company
 
Wells Fargo Bank, N.A.
 
Senior debt
 
Short-term
borrowings 
 
Long-term
deposits 
 
Short-term
borrowings 
Moody’s
A2
 
P-1
 
Aa1
 
P-1
S&P Global Ratings
A-
 
A-2
 
A+
 
A-1
Fitch Ratings, Inc.
A+
 
F1
 
AA
 
F1+
DBRS
AA (low)
 
R-1 (middle)
 
AA
 
R-1 (high)
FEDERAL HOME LOAN BANK MEMBERSHIP The Federal Home Loan Banks (the FHLBs) are a group of cooperatives that lending institutions use to finance housing and economic development in local communities. We are a member of the FHLBs based in Dallas, Des Moines and San Francisco. Each member of the FHLBs is required to maintain a minimum investment in capital stock of the applicable FHLB. The board of directors of each FHLB can increase the minimum investment requirements in the event it has concluded that additional capital is required to allow it to meet its own regulatory capital requirements. Any increase in the minimum investment requirements outside of specified ranges requires the approval of the Federal Housing Finance Agency. Because the extent of any obligation to increase our investment in any of the FHLBs depends entirely upon the occurrence of a future event, potential future payments to the FHLBs are not determinable.

 
LIBOR TRANSITION During the first half of 2019, the Company did not issue any debt securities with an interest rate indexed to the new Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. SOFR is an alternative to LIBOR and is a broad measure of the cost of borrowing cash overnight collateralized by U.S. Treasury securities. Due to the uncertainty surrounding the future of LIBOR, it is expected that a transition away from the widespread use of LIBOR to alternative benchmark rates will occur by the end of 2021. See the “Asset/Liability Management – Liquidity and Funding” section in our 2018 Form 10-K for additional information regarding our strategy to transition products and exposures away from LIBOR, and the “Risk Factors” section in our 2018 Form 10-K for additional information regarding the potential impact of a benchmark rate, such as LIBOR, or other referenced financial metric being significantly changed, replaced or discontinued.


48
Capital Management (continued)

Capital Management
We have an active program for managing capital through a comprehensive process for assessing the Company’s overall capital adequacy. Our objective is to maintain capital at an amount commensurate with our risk profile and risk tolerance objectives, and to meet both regulatory and market expectations. We primarily fund our working capital needs through the retention of earnings net of both dividends and share repurchases, as well as through the issuance of preferred stock and long and short-term debt. Retained earnings increased $6.4 billion from December 31, 2018, predominantly from Wells Fargo net income of $12.1 billion, less common and preferred stock dividends of $4.8 billion. During second quarter 2019, we issued 8.5 million shares of common stock, excluding conversions of preferred shares. During second quarter 2019, we repurchased 104.9 million shares of common stock at a cost of $4.9 billion. The amount of our repurchases are subject to various factors as discussed in the “Securities Repurchases” section below. For additional information about share repurchases, see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in this Report.
 
Regulatory Capital Guidelines
The Company and each of our insured depository institutions are subject to various regulatory capital adequacy requirements administered by the FRB and the OCC. Risk-based capital (RBC) guidelines establish a risk-adjusted ratio relating capital to different categories of assets and off-balance sheet exposures as discussed below.

RISK-BASED CAPITAL AND RISK-WEIGHTED ASSETS The Company is subject to final and interim final rules issued by federal banking regulators to implement Basel III capital requirements for U.S. banking organizations. These rules are based on international guidelines for determining regulatory capital issued by the BCBS. The federal banking regulators’ capital rules, among other things, require on a fully phased-in basis:
•
a minimum Common Equity Tier 1 (CET1) ratio of 9.0%, comprised of a 4.5% minimum requirement plus a capital conservation buffer of 2.5% and for us, as a global systemically important bank (G-SIB), a capital surcharge to be calculated annually, which is 2.0% for 2019;
•
a minimum tier 1 capital ratio of 10.5%, comprised of a 6.0% minimum requirement plus the capital conservation buffer of 2.5% and the G-SIB capital surcharge of 2.0%;
•
a minimum total capital ratio of 12.5%, comprised of a 8.0% minimum requirement plus the capital conservation buffer of 2.5% and the G-SIB capital surcharge of 2.0%;
•
a potential countercyclical buffer of up to 2.5% to be added to the minimum capital ratios, which is currently not in effect but could be imposed by regulators at their discretion if it is determined that a period of excessive credit growth is contributing to an increase in systemic risk;
•
a minimum tier 1 leverage ratio of 4.0%; and
•
a minimum supplementary leverage ratio (SLR) of 5.0% (comprised of a 3.0% minimum requirement plus a supplementary leverage buffer of 2.0%) for large and internationally active BHCs.

We were required to comply with the final Basel III capital rules beginning January 2014, with certain provisions subject to phase-in periods. The entire Basel III capital rules are scheduled
 
to be fully phased in by the end of 2021. The Basel III capital rules contain two frameworks for calculating capital requirements, a Standardized Approach, which replaced Basel I, and an Advanced Approach applicable to certain institutions, including Wells Fargo. Accordingly, in the assessment of our capital adequacy, we must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach.
On April 10, 2018, the FRB issued a proposed rule that would add a stress capital buffer and a stress leverage buffer to the minimum capital and tier 1 leverage ratio requirements. The buffers would be calculated based on the decrease in a financial institution’s risk-based capital and tier 1 leverage ratios under the supervisory severely adverse scenario in the Comprehensive Capital Analysis and Review (CCAR), plus four quarters of planned common stock dividends. The stress capital buffer would replace the 2.5% capital conservation buffer under the Standardized Approach, whereas the stress leverage buffer would be added to the current 4% minimum tier 1 leverage ratio.
Because the Company has been designated as a G-SIB, we are also subject to the FRB's rule implementing the additional capital surcharge of between 1.0-4.5% on the minimum capital requirements of G-SIBs. Under the rule, we must annually calculate our surcharge under two methods and use the higher of the two surcharges. The first method (method one) considers our size, interconnectedness, cross-jurisdictional activity, substitutability, and complexity, consistent with the methodology developed by the BCBS and the Financial Stability Board (FSB). The second (method two) uses similar inputs, but replaces substitutability with use of short-term wholesale funding and will generally result in higher surcharges than the BCBS methodology. The G-SIB surcharge became fully phased-in on January 1, 2019. Our 2019 G-SIB surcharge under method two is 2.0% of the Company’s risk-weighted assets (RWAs), which is the higher of method one and method two. Because the G-SIB surcharge is calculated annually based on data that can differ over time, the amount of the surcharge is subject to change in future years. Under the Standardized Approach, our CET1 ratio (fully phased-in) of 11.97% exceeded the minimum of 9.0% by 297 basis points at June 30, 2019.
Beginning January 1, 2018, the requirements for calculating CET1 and tier 1 capital, along with RWAs, became fully phased-in. However, the requirements for calculating tier 2 and total capital are still in accordance with Transition Requirements. The tables that follow provide information about our risk-based capital and related ratios as calculated under Basel III capital guidelines. For banking industry regulatory reporting purposes, we continue to report our tier 2 and total capital in accordance with Transition Requirements but are managing our capital based on a fully phased-in calculation. For information about our capital requirements calculated in accordance with Transition Requirements, see Note 23 (Regulatory and Agency Capital Requirements) to Financial Statements in this Report.
Table 36 summarizes our CET1, tier 1 capital, total capital, risk-weighted assets and capital ratios on a fully phased-in basis at June 30, 2019 and December 31, 2018. As of June 30, 2019, our CET1, tier 1, and total capital ratios were lower using RWAs calculated under the Standardized Approach.


49

Table 36: Capital Components and Ratios (Fully Phased-In) (1)
 
 
June 30, 2019
 
 
 
December 31, 2018
 
 
(in millions, except ratios)
 
Advanced Approach

 
Standardized Approach

 
 
Advanced Approach

 
Standardized Approach

 
Common Equity Tier 1
(A)
$
149,183

 
149,183

 
 
146,363

 
146,363

 
Tier 1 Capital
(B)
170,675

 
170,675

 
 
167,866

 
167,866

 
Total Capital
(C)
200,291

 
208,298

 
 
198,103

 
206,346

 
Risk-Weighted Assets
(D)
1,182,838

 
1,246,683

 
 
1,177,350

 
1,247,210

 
Common Equity Tier 1 Capital Ratio
(A)/(D)
12.61
%
 
11.97

*
 
12.43

 
11.74

*
Tier 1 Capital Ratio
(B)/(D)
14.43

 
13.69

*
 
14.26

 
13.46

*
Total Capital Ratio
(C)/(D)
16.93


16.71

*
 
16.83

 
16.54

*
*Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches.
(1)
Fully phased-in total capital amounts and ratios are considered non-GAAP financial measures that are used by management, bank regulatory agencies, investors and analysts to assess and monitor the Company’s capital position. See Table 37 for information regarding the calculation and components of CET1, tier 1 capital, total capital and RWAs, as well as the corresponding reconciliation of our fully phased-in regulatory capital amounts to GAAP financial measures.
Table 37 provides information regarding the calculation and composition of our risk-based capital under the Advanced and
 
Standardized Approaches at June 30, 2019 and December 31, 2018.
Table 37: Risk-Based Capital Calculation and Components
 
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
 
Advanced Approach

 
Standardized Approach

 
Advanced Approach

 
Standardized Approach

Total equity
 
$
200,037

 
200,037

 
197,066

 
197,066

Adjustments:
 

 

 
 
 
 
Preferred stock
 
(23,021
)
 
(23,021
)
 
(23,214
)
 
(23,214
)
Additional paid-in capital on ESOP preferred stock
 
(78
)
 
(78
)
 
(95
)
 
(95
)
Unearned ESOP shares
 
1,292

 
1,292

 
1,502

 
1,502

Noncontrolling interests
 
(995
)
 
(995
)
 
(900
)
 
(900
)
Total common stockholders’ equity

177,235

 
177,235

 
174,359

 
174,359

Adjustments:
 
 
 
 
 
 
 
 
Goodwill
 
(26,415
)
 
(26,415
)
 
(26,418
)
 
(26,418
)
Certain identifiable intangible assets (other than MSRs)
 
(493
)
 
(493
)
 
(559
)
 
(559
)
Other assets (1)
 
(2,251
)
 
(2,251
)
 
(2,187
)
 
(2,187
)
Applicable deferred taxes (2)
 
788

 
788

 
785

 
785

Investment in certain subsidiaries and other
 
319

 
319

 
383

 
383

Common Equity Tier 1 (Fully Phased-In)

149,183

 
149,183

 
146,363

 
146,363

 
 
 
 
 
 
 
 
 
Common Equity Tier 1 (Fully Phased-In)
 
$
149,183

 
149,183

 
146,363

 
146,363

Preferred stock
 
23,021

 
23,021

 
23,214

 
23,214

Additional paid-in capital on ESOP preferred stock
 
78

 
78

 
95

 
95

Unearned ESOP shares
 
(1,292
)
 
(1,292
)
 
(1,502
)
 
(1,502
)
Other
 
(315
)
 
(315
)
 
(304
)
 
(304
)
Total Tier 1 capital (Fully Phased-In)
(A)
170,675

 
170,675

 
167,866

 
167,866

 
 
 
 
 
 
 
 
 
Long-term debt and other instruments qualifying as Tier 2
 
27,223

 
27,223

 
27,946

 
27,946

Qualifying allowance for credit losses (3)
 
2,596

 
10,603

 
2,463

 
10,706

Other
 
(203
)
 
(203
)
 
(172
)
 
(172
)
Total Tier 2 capital (Fully Phased-In)
(B)
29,616

 
37,623

 
30,237

 
38,480

Effect of Transition Requirements
 
519

 
519

 
695

 
695

Total Tier 2 capital (Transition Requirements)
 
$
30,135

 
38,142

 
30,932

 
39,175

 
 
 
 
 
 
 
 
 
Total qualifying capital (Fully Phased-In)
(A)+(B)
$
200,291

 
208,298

 
198,103

 
206,346

Total Effect of Transition Requirements
 
519

 
519

 
695

 
695

Total qualifying capital (Transition Requirements)
 
$
200,810

 
208,817

 
198,798

 
207,041

 
 
 
 
 
 
 
 
 
Risk-Weighted Assets (RWAs) (4)(5):
 
 
 
 
 
 
 
 
Credit risk
 
$
802,054

 
1,203,474

 
803,273

 
1,201,246

Market risk
 
43,209

 
43,209

 
45,964

 
45,964

Operational risk
 
337,575

 
—

 
328,113

 
N/A

Total RWAs (Fully Phased-In)
 
$
1,182,838

 
1,246,683

 
1,177,350

 
1,247,210

(1)
Represents goodwill and other intangibles on nonmarketable equity securities, which are included in other assets.
(2)
Applicable deferred taxes relate to goodwill and other intangible assets. They were determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period end.
(3)
Under the Advanced Approach the allowance for credit losses that exceeds expected credit losses is eligible for inclusion in Tier 2 Capital, to the extent the excess allowance does not exceed 0.6% of Advanced credit RWAs, and under the Standardized Approach, the allowance for credit losses is includable in Tier 2 Capital up to 1.25% of Standardized credit RWAs, with any excess allowance for credit losses being deducted from total RWAs.
(4)
RWAs calculated under the Advanced Approach utilize a risk-sensitive methodology, which relies upon the use of internal credit models based upon our experience with internal rating grades. Advanced Approach also includes an operational risk component, which reflects the risk of operating loss resulting from inadequate or failed internal processes or systems.
(5)
Under the regulatory guidelines for risk-based capital, on-balance sheet assets and credit equivalent amounts of derivatives and off-balance sheet items are assigned to one of several broad risk categories according to the obligor, or, if relevant, the guarantor or the nature of any collateral. The aggregate dollar amount in each risk category is then multiplied by the risk weight associated with that category. The resulting weighted values from each of the risk categories are aggregated for determining total RWAs.

50
Capital Management (continued)

Table 38 presents the changes in Common Equity Tier 1 under the Advanced Approach for the six months ended June 30, 2019.
 

Table 38: Analysis of Changes in Common Equity Tier 1
(in millions)
 
 
Common Equity Tier 1 (Fully Phased-In) at December 31, 2018
 
$
146,363

Net income applicable to common stock
 
11,355

Common stock dividends
 
(4,069
)
Common stock issued, repurchased, and stock compensation-related items
 
(8,030
)
Goodwill
 
3

Certain identifiable intangible assets (other than MSRs)
 
67

Other assets (1)
 
(64
)
Applicable deferred taxes (2)
 
3

Investment in certain subsidiaries and other
 
3,555

Change in Common Equity Tier 1
 
2,820

Common Equity Tier 1 (Fully Phased-In) at June 30, 2019
 
$
149,183

(1)
Represents goodwill and other intangibles on nonmarketable equity securities, which are included in other assets.
(2)
Applicable deferred taxes relate to goodwill and other intangible assets. They were determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period end.

Table 39 presents net changes in the components of RWAs under the Advanced and Standardized Approaches for the six months ended June 30, 2019.
 


Table 39: Analysis of Changes in RWAs
(in millions)
Advanced Approach

Standardized Approach

RWAs (Fully Phased-In) at December 31, 2018
$
1,177,350

1,247,210

Net change in credit risk RWAs
(1,219
)
2,228

Net change in market risk RWAs
(2,755
)
(2,755
)
Net change in operational risk RWAs
9,462

—

Total change in RWAs
5,488

(527
)
RWAs (Fully Phased-In) at June 30, 2019
$
1,182,838

1,246,683



51

TANGIBLE COMMON EQUITY We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, and goodwill and certain identifiable intangible assets (including goodwill and intangible assets associated with certain of our nonmarketable equity securities, but excluding mortgage servicing rights), net of applicable deferred taxes. These tangible common equity ratios are as follows:
•
Tangible book value per common share, which represents tangible common equity divided by common shares outstanding.
 
•
Return on average tangible common equity (ROTCE), which represents our annualized earnings contribution as a percentage of tangible common equity.

The methodology of determining tangible common equity may differ among companies. Management believes that tangible book value per common share and return on average tangible common equity, which utilize tangible common equity, are useful financial measures because they enable investors and others to assess the Company’s use of equity.
Table 40 provides a reconciliation of these non-GAAP financial measures to GAAP financial measures.

Table 40: Tangible Common Equity
 
 
 
Balance at period end
 
 
Average balance
 
 
 
 
Quarter ended
 
 
Quarter ended
 
 
Six months ended
 
(in millions, except ratios)
 
 
Jun 30,
2019

Mar 31,
2019

Jun 30,
2018

 
Jun 30,
2019

Mar 31,
2019

Jun 30,
2018

 
Jun 30,
2019

Jun 30,
2018

Total equity
 
 
$
200,037

198,733

206,069

 
199,685

198,349

206,067

 
199,021

206,123

Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
 
 
(23,021
)
(23,214
)
(25,737
)
 
(23,023
)
(23,214
)
(26,021
)
 
(23,118
)
(26,089
)
Additional paid-in capital on ESOP preferred stock
 
 
(78
)
(95
)
(116
)
 
(78
)
(95
)
(129
)
 
(87
)
(141
)
Unearned ESOP shares
 
 
1,292

1,502

2,051

 
1,294

1,502

2,348

 
1,397

2,428

Noncontrolling interests
 
 
(995
)
(901
)
(881
)
 
(939
)
(899
)
(919
)
 
(919
)
(958
)
Total common stockholders’ equity
(A)
 
177,235

176,025

181,386

 
176,939

175,643

181,346

 
176,294

181,363

Adjustments:
 
 
 
 
 
 

 

 
 
 
Goodwill
 
 
(26,415
)
(26,420
)
(26,429
)
 
(26,415
)
(26,420
)
(26,444
)
 
(26,417
)
(26,480
)
Certain identifiable intangible assets (other than MSRs)
 
 
(493
)
(522
)
(1,091
)
 
(505
)
(543
)
(1,223
)
 
(524
)
(1,355
)
Other assets (1)
 
 
(2,251
)
(2,131
)
(2,160
)
 
(2,155
)
(2,159
)
(2,271
)
 
(2,157
)
(2,252
)
Applicable deferred taxes (2)
 
 
788

771

874

 
780

784

889

 
782

911

Tangible common equity
(B)
 
$
148,864

147,723

152,580

 
148,644

147,305

152,297

 
147,978

152,187

Common shares outstanding
(C)
 
4,419.6

4,511.9

4,849.1

 
N/A

N/A

N/A

 
N/A

N/A

Net income applicable to common stock (3)
(D)
 
N/A

N/A

N/A

 
$
5,848

5,507

4,792

 
11,355

9,525

Book value per common share
(A)/(C)
 
$
40.10

39.01

37.41

 
N/A

N/A

N/A

 
N/A

N/A

Tangible book value per common share
(B)/(C)
 
33.68

32.74

31.47

 
N/A

N/A

N/A

 
N/A

N/A

Return on average common stockholders’ equity (ROE) (annualized)
(D)/(A)
 
N/A

N/A

N/A

 
13.26
%
12.71

10.60

 
12.99

10.59

Return on average tangible common equity (ROTCE) (annualized)
(D)/(B)
 
N/A

N/A

N/A

 
15.78

15.16

12.62

 
15.47

12.62

(1)
Represents goodwill and other intangibles on nonmarketable equity securities, which are included in other assets.
(2)
Applicable deferred taxes relate to goodwill and other intangible assets. They were determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period end.
(3)
Quarter ended net income applicable to common stock is annualized for the respective ROE and ROTCE ratios.

52
Capital Management (continued)

SUPPLEMENTARY LEVERAGE RATIO In April 2014, federal banking regulators finalized a rule that enhances the SLR requirements for BHCs, like Wells Fargo, and their insured depository institutions. The calculation of the SLR is Tier 1 capital divided by the Company’s total leverage exposure. Total leverage exposure consists of total average assets, less goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities), plus certain off-balance sheet exposures. The rule, which became effective on January 1, 2018, requires a covered BHC to maintain a SLR of at least 5.0% (comprised of the 3.0% minimum requirement plus a supplementary leverage buffer of 2.0%) to avoid restrictions on capital distributions and discretionary bonus payments. The rule also requires that all of our insured depository institutions maintain a SLR of 6.0% under applicable regulatory capital adequacy guidelines. In April 2018, the FRB and OCC proposed rules (the “Proposed SLR Rules”) that would replace the 2% supplementary leverage buffer with a buffer equal to one-half of the firm’s G-SIB capital surcharge. The Proposed SLR Rules would similarly tailor the current 6% SLR requirement for our insured depository institutions.
At June 30, 2019, our SLR for the Company was 7.7%. Based on our review, our current leverage levels would exceed the applicable requirements for each of our insured depository institutions as well. See Table 41 for information regarding the calculation and components of the SLR.
Table 41: Supplementary Leverage Ratio
(in millions, except ratio)
 
Quarter ended June 30, 2019

Tier 1 capital
(A)
$
170,675

Total average assets
 
1,900,627

Less: Goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities)
 
28,821

Total adjusted average assets
 
1,871,806

Plus adjustments for off-balance sheet exposures:
 
 
Derivatives (1)
 
68,229

Repo-style transactions (2)
 
5,033

Other (3)
 
257,539

Total off-balance sheet exposures
 
330,801

Total leverage exposure
(B)
$
2,202,607

Supplementary leverage ratio
(A)/(B)
7.7
%
(1)
Adjustment represents derivatives and collateral netting exposures as defined for supplementary leverage ratio determination purposes.
(2)
Adjustment represents counterparty credit risk for repo-style transactions where Wells Fargo & Company is the principal (i.e., principal counterparty facing the client).
(3)
Adjustment represents credit equivalent amounts of other off-balance sheet exposures not already included as derivatives and repo-style transactions exposures.
OTHER REGULATORY CAPITAL MATTERS In December 2016, the FRB finalized rules to address the amount of equity and unsecured long-term debt a U.S. G-SIB must hold to improve its resolvability and resiliency, often referred to as Total Loss Absorbing Capacity (TLAC). Under the rules, which became effective on January 1, 2019, U.S. G-SIBs are required to have a minimum TLAC amount (consisting of CET1 capital and additional tier 1 capital issued directly by the top-tier or covered BHC plus eligible external long-term debt) equal to the greater of (i) 18% of RWAs and (ii) 7.5% of total leverage exposure (the denominator of the SLR calculation). Additionally, U.S. G-SIBs are required to maintain (i) a TLAC buffer equal to 2.5% of RWAs plus the firm’s applicable G-SIB capital surcharge calculated under method one plus any applicable countercyclical buffer to be added to the 18% minimum and (ii) an external TLAC leverage buffer equal to 2.0% of total leverage exposure to be added to the
 
7.5% minimum, in order to avoid restrictions on capital distributions and discretionary bonus payments. The rules also require U.S. G-SIBs to have a minimum amount of eligible unsecured long-term debt equal to the greater of (i) 6.0% of RWAs plus the firm’s applicable G-SIB capital surcharge calculated under method two and (ii) 4.5% of the total leverage exposure. In addition, the rules impose certain restrictions on the operations and liabilities of the top-tier or covered BHC in order to further facilitate an orderly resolution, including prohibitions on the issuance of short-term debt to external investors and on entering into derivatives and certain other types of financial contracts with external counterparties. While the rules permit permanent grandfathering of a significant portion of otherwise ineligible long-term debt that was issued prior to December 31, 2016, long-term debt issued after that date must be fully compliant with the eligibility requirements of the rules in order to count toward the minimum TLAC amount. As a result of the rules, we will need to issue additional long-term debt to remain compliant with the requirements. Under the Proposed SLR Rules, the 2% external TLAC leverage buffer would be replaced with a buffer equal to one-half of the firm’s G-SIB capital surcharge. Additionally, the Proposed SLR Rules would modify the leverage component for calculating the minimum amount of eligible unsecured long-term debt from 4.5% of total leverage exposure to 2.5% of total leverage exposure plus one-half of the firm’s G-SIB capital surcharge. As of June 30, 2019, our eligible external TLAC as a percentage of total risk-weighted assets was 24.09% compared with a required minimum of 22.0%. Similar to the risk-based capital requirements, we determine minimum required TLAC based on the greater of RWAs determined under the Standardized and Advanced approaches.
In addition, as discussed in the “Risk Management – Asset/ Liability Management – Liquidity and Funding – Liquidity Standards” section in this Report, federal banking regulators have issued a final rule regarding the U.S. implementation of the Basel III LCR and a proposed rule regarding the NSFR.

Capital Planning and Stress Testing
Our planned long-term capital structure is designed to meet regulatory and market expectations. We believe that our long-term targeted capital structure enables us to invest in and grow our business, satisfy our customers’ financial needs in varying environments, access markets, and maintain flexibility to return capital to our shareholders. Our long-term targeted capital structure also considers capital levels sufficient to exceed capital requirements including the G-SIB surcharge. Accordingly, based on the final Basel III capital rules under the lower of the Standardized or Advanced Approaches CET1 capital ratios, we currently target a long-term CET1 capital ratio at or in excess of 10%, which includes a 2% G-SIB surcharge. Our capital targets are subject to change based on various factors, including changes to the regulatory capital framework and expectations for large banks promulgated by bank regulatory agencies, planned capital actions, changes in our risk profile and other factors. As discussed above in the “Capital Management – Regulatory Capital Guidelines – Risk-Based Capital and Risk-Weighted Assets” section of this Report, the FRB has proposed including a stress capital buffer to replace the current 2.5% capital conservation buffer. Under the proposal, it is expected that the adoption of CECL accounting would be included in the calculation of the stress capital buffer. We expect that implementation of the stress capital buffer may increase the level and volatility of minimum capital ratio requirements, which may cause our current long-term CET1 capital ratio target of 10% to increase.

53

Under the FRB’s capital plan rule, large BHCs are required to submit capital plans annually for review to determine if the FRB has any objections before making any capital distributions. The rule requires updates to capital plans in the event of material changes in a BHC’s risk profile, including as a result of any significant acquisitions. The FRB assesses, among other things, the overall financial condition, risk profile, and capital adequacy of BHCs when evaluating capital plans.
Our 2019 capital plan, which was submitted on April 4, 2019, as part of CCAR, included a comprehensive capital outlook supported by an assessment of expected sources and uses of capital over a given planning horizon under a range of expected and stress scenarios. As part of the 2019 CCAR, the FRB also generated a supervisory stress test, which assumed a sharp decline in the economy and significant decline in asset pricing using the information provided by the Company to estimate performance. The FRB reviewed the supervisory stress results both as required under the Dodd-Frank Act using a common set of capital actions for all large BHCs and by taking into account the Company’s proposed capital actions. The FRB published its supervisory stress test results as required under the Dodd-Frank Act on June 21, 2019. On June 27, 2019, the FRB notified us that it did not object to our capital plan included in the 2019 CCAR. On July 23, 2019, the Company increased its quarterly common stock dividend to $0.51 per share, as approved by the Board. The plan also includes up to $23.1 billion of gross common stock repurchases, subject to management discretion, for the four-quarter period from third quarter 2019 through second quarter 2020.
Federal banking regulators require stress tests to evaluate whether an institution has sufficient capital to continue to operate during periods of adverse economic and financial conditions. These stress testing requirements set forth the timing and type of stress test activities large BHCs and banks must undertake as well as rules governing stress testing controls, oversight and disclosure requirements. The rules also limit a large BHC’s ability to make capital distributions to the extent its actual capital issuances were less than amounts indicated in its capital plan. As required under the FRB’s stress testing rule, we must submit a mid-cycle stress test based on second quarter data and scenarios developed by the Company. In October 2018, the FRB proposed a rule that would, among other things, eliminate the mid-cycle stress test requirement for banks beginning in 2020.

 
Securities Repurchases
From time to time the Board authorizes the Company to repurchase shares of our common stock. Although we announce when the Board authorizes share repurchases, we typically do not give any public notice before we repurchase our shares. Future stock repurchases may be private or open-market repurchases, including block transactions, accelerated or delayed block transactions, forward repurchase transactions, and similar transactions. Additionally, we may enter into plans to purchase stock that satisfy the conditions of Rule 10b5-1 of the Securities Exchange Act of 1934. Various factors determine the amount of our share repurchases, including our capital requirements, the number of shares we expect to issue for employee benefit plans and acquisitions, market conditions (including the trading price of our stock), and regulatory and legal considerations, including the FRB’s response to our capital plan and to changes in our risk profile. Due to the various factors impacting the amount of our share repurchases and the fact that we tend to be in the market regularly to satisfy repurchase considerations under our capital plan, our share repurchases occur at various price levels. We may suspend share repurchase activity at any time.
In October 2018, the Board authorized the repurchase of 350 million shares of our common stock. At June 30, 2019, we had remaining authority to repurchase approximately 193 million shares, subject to regulatory and legal conditions. In July 2019, the Board authorized the repurchase of an additional 350 million shares of our common stock. For more information about share repurchases during second quarter 2019, see Part II, Item 2 in this Report.
Historically, our policy has been to repurchase shares under the “safe harbor” conditions of Rule 10b-18 of the Securities Exchange Act of 1934 including a limitation on the daily volume of repurchases. Rule 10b-18 imposes an additional daily volume limitation on share repurchases during a pending merger or acquisition in which shares of our stock will constitute some or all of the consideration. Our management may determine that during a pending stock merger or acquisition when the safe harbor would otherwise be available, it is in our best interest to repurchase shares in excess of this additional daily volume limitation. In such cases, we intend to repurchase shares in compliance with the other conditions of the safe harbor, including the standing daily volume limitation that applies whether or not there is a pending stock merger or acquisition.

Regulatory Matters
Since the enactment of the Dodd-Frank Act in 2010, the U.S. financial services industry has been subject to a significant increase in regulation and regulatory oversight initiatives. This increased regulation and oversight has substantially changed how most U.S. financial services companies conduct business and has increased their regulatory compliance costs.
For a discussion of certain consent orders applicable to the Company, see the “Overview” section in this Report. The following supplements our discussion of the other significant regulations and regulatory oversight initiatives that have affected or may affect our business contained in the “Regulatory Matters” and “Risk Factors” sections in our 2018 Form 10-K and the "Regulatory Matters" section in our 2019 First Quarter Report on Form 10-Q.
 
“LIVING WILL” REQUIREMENTS AND RELATED MATTERS Rules adopted by the FRB and the FDIC under the Dodd-Frank Act require large financial institutions, including Wells Fargo, to prepare and periodically revise resolution plans, so-called “living-wills”, that would facilitate their resolution in the event of material distress or failure. Under the rules, resolution plans are required to provide strategies for resolution under the Bankruptcy Code and other applicable insolvency regimes that can be accomplished in a reasonable period of time and in a manner that mitigates the risk that failure would have serious adverse effects on the financial stability of the United States. We submitted our 2019 resolution plan to the FRB and FDIC on June 27, 2019. Our national bank subsidiary, Wells Fargo Bank, N.A. (the "Bank"), is also required to prepare a resolution plan. If the FRB or FDIC determines that our resolution plan has

54
Regulatory Matters (continued)

deficiencies, they may impose more stringent capital, leverage or liquidity requirements on us or restrict our growth, activities or operations until we adequately remedy the deficiencies. If the FRB or FDIC ultimately determines that we have been unable to remedy any deficiencies, they could require us to divest certain assets or operations.
We must also prepare and 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. The Bank must also prepare and submit to the OCC a recovery plan that sets forth the Bank’s plan to remain a going concern when the Bank is experiencing considerable financial or operational stress, but has not yet deteriorated to the point where liquidation or resolution is imminent. If either the FRB or the OCC determine that our recovery plan is deficient, they may impose fines, restrictions on our business or ultimately require us to divest assets.
If Wells Fargo were to fail, it may be resolved in a bankruptcy proceeding or, if certain conditions are met, under the resolution regime created by the Dodd-Frank Act known as the “orderly liquidation authority.” The orderly liquidation authority allows for the appointment of the FDIC as receiver for a systemically important financial institution that is in default or in danger of default if, among other things, the resolution of the institution under the U.S. Bankruptcy Code would have serious adverse effects on financial stability in the United States. If the FDIC is appointed as receiver for Wells Fargo & Company (the “Parent”), then the orderly liquidation authority, rather than the U.S. Bankruptcy Code, would determine the powers of the receiver and the rights and obligations of our security holders. The FDIC’s orderly liquidation authority requires that security holders of a company in receivership bear all losses before U.S. taxpayers are exposed to any losses, and allows the FDIC to disregard the strict priority of creditor claims under the U.S. Bankruptcy Code in certain circumstances.
Whether under the U.S. Bankruptcy Code or by the FDIC under the orderly liquidation authority, Wells Fargo could be resolved using a "multiple point of entry" strategy, in which the Parent and one or more of its subsidiaries would each undergo separate resolution proceedings, or a “single point of entry” strategy, in which the Parent would likely be the only material legal entity to enter resolution proceedings. The FDIC has announced that a single point of entry strategy may be a desirable strategy under its implementation of the orderly liquidation authority, but not all aspects of how the FDIC might exercise this authority are known and additional rulemaking is possible.
The strategy described in our most recent resolution plan submission is a single point of entry strategy. However, we are not obligated to maintain a single point of entry strategy, and the strategy reflected in our resolution plan is not binding in the event of an actual resolution of Wells Fargo, whether conducted under the U.S. Bankruptcy Code or by the FDIC under the orderly liquidation authority.
To facilitate the orderly resolution of systemically important financial institutions in case of material distress or failure, federal banking regulations require that institutions, such as Wells Fargo, maintain a minimum amount of equity and unsecured debt to absorb losses and recapitalize operating subsidiaries. Federal banking regulators have also required measures to facilitate the continued operation of operating subsidiaries notwithstanding the failure of their parent companies, such as limitations on parent guarantees, and have issued guidance
 
encouraging institutions to take legally binding measures to provide capital and liquidity resources to certain subsidiaries in order to facilitate an orderly resolution. In response to the regulators’ guidance and to facilitate the orderly resolution of the Company, on June 28, 2017, the Parent entered into a support agreement, as amended and restated on June 26, 2019 (the “Support Agreement”), with WFC Holdings, LLC, an intermediate holding company and subsidiary of the Parent (the “IHC”), the Bank, Wells Fargo Securities, LLC (“WFS”), Wells Fargo Clearing Services, LLC (“WFCS”), and certain other direct and indirect subsidiaries of the Parent designated as material entities for resolution planning purposes (the “Covered Entities”) or identified as related support entities in our resolution plan (the “Related Support Entities”). Pursuant to the Support Agreement, the Parent transferred a significant amount of its assets, including the majority of its cash, deposits, liquid securities and intercompany loans (but excluding its equity interests in its subsidiaries and certain other assets), to the IHC and will continue to transfer those types of assets to the IHC from time to time. In the event of our material financial distress or failure, the IHC will be obligated to use the transferred assets to provide capital and/or liquidity to the Bank, WFS, WFCS, and the Covered Entities pursuant to the Support Agreement. Under the Support Agreement, the IHC will also provide funding and liquidity to the Parent through subordinated notes and a committed line of credit, which, together with the issuance of dividends, is expected to provide the Parent, during business as usual operating conditions, with the same access to cash necessary to service its debts, pay dividends, repurchase its shares, and perform its other obligations as it would have had if it had not entered into these arrangements and transferred any assets. If certain liquidity and/or capital metrics fall below defined triggers, or if the Parent’s board of directors authorizes it to file a case under the U.S. Bankruptcy Code, the subordinated notes would be forgiven, the committed line of credit would terminate, and the IHC’s ability to pay dividends to the Parent would be restricted, any of which could materially and adversely impact the Parent’s liquidity and its ability to satisfy its debts and other obligations, and could result in the commencement of bankruptcy proceedings by the Parent at an earlier time than might have otherwise occurred if the Support Agreement were not implemented. The respective obligations under the Support Agreement of the Parent, the IHC, the Bank, and the Related Support Entities are secured pursuant to a related security agreement.

BROKER-DEALER STANDARDS OF CONDUCT In June 2019, the SEC finalized a rule that requires broker-dealers to act in the best interest of a retail customer when making a recommendation of any securities transaction or investment strategy involving securities. This rule impacts the manner in which business is conducted with customers seeking investment advice and may affect certain investment product offerings.


55

Critical Accounting Policies
Our significant accounting policies (see Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K) are fundamental to understanding our results of operations and financial condition because they require that we use estimates and assumptions that may affect the value of our assets or liabilities and financial results. Five of these policies are critical because they require management to make difficult, subjective and complex judgments about matters that are inherently uncertain and because it is likely that materially different amounts would be reported under different conditions or using different assumptions. These policies govern:
•
the allowance for credit losses;
•
the valuation of residential MSRs;
•
the fair value of financial instruments;
•
income taxes; and
•
liability for contingent litigation losses.

Management and the Board’s Audit and Examination Committee have reviewed and approved these critical accounting policies. These policies are described further in the “Financial Review – Critical Accounting Policies” section and Note 1 (Summary of Significant Accounting Policies) to Financial Statements in our 2018 Form 10-K.

56
Current Accounting Developments (continued)

Current Accounting Developments
Table 42 provides the significant accounting updates applicable to us that have been issued by the FASB but are not yet effective.

Table 42: Current Accounting Developments – Issued Standards
Standard
 
Description
 
Effective date and financial statement impact
Accounting Standard Update (ASU or Update) 2018-12 – Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts
 
The Update requires all features in long-duration insurance contracts that meet the definition of a market risk benefit to be measured at fair value through earnings with changes in fair value attributable to our own credit risk recognized in other comprehensive income. Currently, two measurement models exist for these features, fair value and insurance accrual. The Update requires the use of a standardized discount rate and routine updates for insurance assumptions used in valuing the liability for future policy benefits for traditional long-duration contracts. The Update also simplifies the amortization of deferred acquisition costs.

 
The guidance becomes effective on January 1, 2021. Certain of our variable annuity reinsurance products meet the definition of market risk benefits and will require the associated insurance-related reserves for these products to be measured at fair value as of the earliest period presented, with the cumulative effect on fair value for changes attributable to our own credit risk recognized in the beginning balance of accumulated other comprehensive income. The cumulative effect of the difference between fair value and carrying value, excluding the effect on fair value for our own credit risk, will be recognized in the opening balance of retained earnings. As of June 30, 2019, we held $1.0 billion in insurance-related reserves of which $444 million was in scope of the Update. A total of $387 million was associated with products that meet the definition of market risk benefits, and of this amount, $21 million was measured at fair value under current accounting standards. The market risk benefits are largely indexed to U.S. equity and fixed income markets. Upon adoption, we may incur periodic earnings volatility from changes in the fair value of market risk benefits primarily due to the long duration of these contracts. We plan to economically hedge this volatility, where feasible. The ultimate impact of these changes will depend on the composition of our market risk benefits portfolio at the date of adoption. Changes to the liability for future policy benefits for traditional long-duration contracts and deferred acquisition costs will be applied to all outstanding long-duration contracts on the basis of their existing carrying amounts at the beginning of the earliest period presented, and are not expected to be material.
ASU 2016-13 – Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and subsequent related Updates
 
The Update changes the accounting for credit losses measurement on loans and
debt securities. For loans and held-to-maturity debt securities, the Update requires a current expected credit loss (CECL) measurement to estimate the allowance for credit losses (ACL) for the remaining estimated life of the financial asset (including off-balance sheet credit exposures) using historical experience, current conditions, and reasonable and supportable forecasts. The Update eliminates the existing guidance for PCI loans, but requires an allowance for purchased financial assets with more than insignificant deterioration since origination. In addition, the Update modifies the other-than-temporary
impairment model for available-for-sale debt securities to require an allowance for credit impairment instead of a direct write-down, which allows for reversal of credit impairments in future periods based on improvements in credit.

 
We expect to adopt the guidance in first quarter 2020. Our implementation process includes loss forecasting model development, evaluation of technical accounting topics, updates to our allowance documentation, reporting processes and related internal controls, and overall operational readiness for our adoption of the Update, which will continue throughout 2019, including parallel runs for CECL alongside our current allowance process.
     We are in the process of developing, validating, and implementing models used to estimate credit losses under CECL. We have completed substantially all of our loss forecasting models, and we expect to complete the validation process for our loan models during 2019.
     Our current planned approach for estimating expected life-time credit losses for loans and debt securities includes the following key components:
•
An initial forecast period of one year for all portfolio segments and classes of financing receivables and off-balance-sheet credit exposures. This period reflects management’s expectation of losses based on forward-looking economic scenarios over that time.
•
A historical loss forecast period covering the remaining contractual life, adjusted for prepayments, by portfolio segment and class of financing receivables based on the change in key historical economic variables during representative historical expansionary and recessionary periods.
•
A reversion period of up to 2 years connecting the initial loss forecast to the historical loss forecast based on economic conditions at the measurement date.
•
We will utilize discounted cash flow (DCF) methods to measure credit impairment for loans modified in a troubled debt restructuring, unless they are collateral dependent and measured at the fair value of collateral. The DCF methods would obtain estimated life-time credit losses using the conceptual components described above.
•
For available-for-sale debt securities and certain beneficial interests classified as held-to-maturity, we plan to utilize the DCF methods to measure the ACL, which will incorporate expected credit losses using the conceptual components described above.
     Based on our portfolio composition at June 30, 2019, and the current economic environment, we currently estimate an overall decrease in our ACL for loans of approximately $1.5 billion. The reduction reflects an expected decrease for commercial loans, given their short contractual maturities, partially offset by an expected increase for longer duration consumer loans and includes recoveries related to residential mortgage loans that were previously written down during the last credit cycle and are below their current recovery value. The change from the estimate we provided last quarter primarily reflects a reduction in our expected recoveries on loans previously written down due to the reclassification of $1.8 billion of residential mortgage loans to held for sale, as well as additional refinements to our assumptions and changes in our portfolio composition. We will continue to evaluate and refine the results of our loss estimates throughout 2019.
     We will recognize an ACL for held-to-maturity and available-for-sale debt securities. The ACL on available-for-sale debt securities will be subject to a limitation based on the fair value of the debt securities. Based on the credit quality of our existing debt securities portfolio, we do not expect the ACL for held-to-maturity and available-for-sale debt securities to be significant.
     The ultimate effect of CECL on our ACL will depend on the size and composition of our portfolio, the portfolio’s credit quality and economic conditions at the time of adoption, as well as any refinements to our models, methodology and other key assumptions. At adoption, we will have a cumulative-effect adjustment to retained earnings for our change in the ACL, which will impact our capital. A decrease in our ACL will result in an increase to our regulatory capital amounts and ratios. Federal banking regulatory agencies have provided relief for an initial capital decrease from the Update by allowing a phased adoption over four years, on a straight-line basis.


57

In addition to the list above, the following Updates are applicable to us but are not expected to have a material impact on our consolidated financial statements:
•
ASU 2019-04 – Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This Update includes guidance on recoveries of financial assets, which has been included in the discussion for ASU 2016-13 above.
•
ASU 2018-17 – Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities

 
•
ASU 2018-15 – Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)
•
ASU 2018-13 – Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. This Update has been partially adopted; however, the remainder of this Update will be adopted at the effective date of January 1, 2020.
•
ASU 2017-04 – Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
Forward-Looking Statements
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, we may make forward-looking statements in our other documents filed or furnished with the SEC, and our management may make forward-looking statements orally to analysts, investors, representatives of the media and others. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “target,” “projects,” “outlook,” “forecast,” “will,” “may,” “could,” “should,” “can” and similar references to future periods. In particular, forward-looking statements include, but are not limited to, statements we make about: (i) the future operating or financial performance of the Company, including our outlook for future growth; (ii) our noninterest expense and efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses and allowance levels; (iv) the appropriateness of the allowance for credit losses; (v) our expectations regarding net interest income and net interest margin; (vi) loan growth or the reduction or mitigation of risk in our loan portfolios; (vii) future capital or liquidity levels or targets and our estimated Common Equity Tier 1 ratio under Basel III capital standards; (viii) the performance of our mortgage business and any related exposures; (ix) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (x) future common stock dividends, common share repurchases and other uses of capital; (xi) our targeted range for return on assets, return on equity, and return on tangible common equity; (xii) the outcome of contingencies, such as legal proceedings; and (xiii) the Company’s plans, objectives and strategies.
Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:
•
current and future economic and market conditions, including the effects of declines in housing prices, high
 
unemployment rates, U.S. fiscal debt, budget and tax matters, geopolitical matters, and any slowdown in global economic growth;
•
our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;
•
financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;
•
developments in our mortgage banking business, including the extent of the success of our mortgage loan modification efforts, the amount of mortgage loan repurchase demands that we receive, any negative effects relating to our mortgage servicing, loan modification or foreclosure practices, and the effects of regulatory or judicial requirements or guidance impacting our mortgage banking business and any changes in industry standards;
•
our ability to realize any efficiency ratio or expense target as part of our expense management initiatives, including as a result of business and economic cyclicality, seasonality, changes in our business composition and operating environment, growth in our businesses and/or acquisitions, and unexpected expenses relating to, among other things, litigation and regulatory matters;
•
the effect of the current interest rate environment or changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgage loans held for sale;
•
significant turbulence or a disruption in the capital or financial markets, which could result in, among other things, reduced investor demand for mortgage loans, a reduction in the availability of funding or increased funding costs, and declines in asset values and/or recognition of other-than-temporary impairment on securities held in our debt securities and equity securities portfolios;
•
the effect of a fall in stock market prices on our investment banking business and our fee income from our brokerage, asset and wealth management businesses;
•
negative effects from the retail banking sales practices matter and from other instances where customers may have experienced financial harm, including on our legal, operational and compliance costs, our ability to engage in certain business activities or offer certain products or services, our ability to keep and attract customers, our ability

58
Forward-Looking Statements (continued)

to attract and retain qualified team members, and our reputation;
•
resolution of regulatory matters, litigation, or other legal actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences;
•
a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber attacks;
•
the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin;
•
fiscal and monetary policies of the Federal Reserve Board; and
•
the other risk factors and uncertainties described under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018.
 
In addition to the above factors, we also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements (including under Basel capital standards), common stock issuance requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company’s Board of Directors, and may be subject to regulatory approval or conditions.
 
For more information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov. 
Any forward-looking statement made by us speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Forward-looking Non-GAAP Financial Measures. From time to time management may discuss forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for return on average tangible common equity. We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant to future results.
Risk Factors
An investment in the Company involves risk, including the possibility that the value of the investment could fall substantially and that dividends or other distributions on the investment could be reduced or eliminated. For a discussion of risk factors that could adversely affect our financial results and condition, and the value of, and return on, an investment in the Company, we refer you to the “Risk Factors” section in our 2018 Form 10-K.

59

Controls and Procedures
Disclosure Controls and Procedures
The Company’s management evaluated the effectiveness, as of June 30, 2019, of the Company’s disclosure controls and procedures. The Company’s chief executive officer and chief financial officer participated in the evaluation. Based on this evaluation, the Company’s chief executive officer and chief financial officer concluded that the Company’s disclosure controls and procedures were effective as of June 30, 2019.

Internal Control Over Financial Reporting
Internal control over financial reporting is defined in Rule 13a-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, the Company’s principal executive and principal financial officers and effected by the Company’s Board, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles (GAAP) and includes those policies and procedures that:
•
pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of assets of the Company;
•
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and
•
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. No change occurred during second quarter 2019 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

60

Wells Fargo & Company and Subsidiaries
Consolidated Statement of Income (Unaudited)
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions, except per share amounts)
2019

 
2018

 
2019

 
2018

Interest income
 
 
 
 
 
 
 
Debt securities
$
3,781

 
3,594

 
7,722

 
7,008

Mortgage loans held for sale
195

 
198

 
347

 
377

Loans held for sale
20

 
48

 
44

 
72

Loans
11,316

 
10,912

 
22,670

 
21,491

Equity securities
236

 
221

 
446

 
452

Other interest income
1,438

 
1,042

 
2,760

 
1,962

Total interest income
16,986

 
16,015

 
33,989

 
31,362

Interest expense
 
 
 
 
 
 
 
Deposits
2,213

 
1,268

 
4,239

 
2,358

Short-term borrowings
646

 
398

 
1,242

 
709

Long-term debt
1,900

 
1,658

 
3,827

 
3,234

Other interest expense
132

 
150

 
275

 
282

Total interest expense
4,891

 
3,474

 
9,583

 
6,583

Net interest income
12,095

 
12,541

 
24,406


24,779

Provision for credit losses
503

 
452

 
1,348

 
643

Net interest income after provision for credit losses
11,592

 
12,089

 
23,058

 
24,136

Noninterest income
 
 
 
 
 
 
 
Service charges on deposit accounts
1,206

 
1,163

 
2,300

 
2,336

Trust and investment fees
3,568

 
3,675

 
6,941

 
7,358

Card fees
1,025

 
1,001

 
1,969

 
1,909

Other fees
800

 
846

 
1,570

 
1,646

Mortgage banking
758

 
770

 
1,466

 
1,704

Insurance
93

 
102

 
189

 
216

Net gains from trading activities
229

 
191

 
586

 
434

Net gains on debt securities (1)
20

 
41

 
145

 
42

Net gains from equity securities (2)
622

 
295

 
1,436

 
1,078

Lease income
424

 
443

 
867

 
898

Other
744

 
485

 
1,318

 
1,087

Total noninterest income
9,489

 
9,012

 
18,787

 
18,708

Noninterest expense
 
 
 
 
 
 
 
Salaries
4,541

 
4,465

 
8,966

 
8,828

Commission and incentive compensation
2,597

 
2,642

 
5,442

 
5,410

Employee benefits
1,336

 
1,245

 
3,274

 
2,843

Equipment
607

 
550

 
1,268

 
1,167

Net occupancy
719

 
722

 
1,436

 
1,435

Core deposit and other intangibles
27

 
265

 
55

 
530

FDIC and other deposit assessments
144

 
297

 
303

 
621

Other
3,478

 
3,796

 
6,621

 
8,190

Total noninterest expense
13,449

 
13,982

 
27,365

 
29,024

Income before income tax expense
7,632

 
7,119

 
14,480


13,820

Income tax expense
1,294

 
1,810

 
2,175

 
3,184

Net income before noncontrolling interests
6,338

 
5,309

 
12,305


10,636

Less: Net income from noncontrolling interests
132

 
123

 
239

 
314

Wells Fargo net income
$
6,206

 
5,186

 
12,066


10,322

Less: Preferred stock dividends and other
358

 
394

 
711

 
797

Wells Fargo net income applicable to common stock
$
5,848

 
4,792

 
11,355

 
9,525

Per share information
 
 
 
 
 
 
 
Earnings per common share
$
1.31

 
0.98

 
2.52

 
1.95

Diluted earnings per common share
1.30

 
0.98

 
2.50

 
1.94

Average common shares outstanding
4,469.4

 
4,865.8

 
4,510.2

 
4,875.7

Diluted average common shares outstanding
4,495.0

 
4,899.8

 
4,540.1

 
4,916.1


(1)
Total other-than-temporary impairment (OTTI) losses (reversal of losses) were $6 million and $(3) million for second quarter 2019 and 2018, respectively. Of total OTTI, losses of $7 million and $8 million were recognized in earnings, and losses (reversal of losses) of $(1) million and $(11) million were recognized as non-credit-related OTTI in other comprehensive income for second quarter 2019 and 2018, respectively. Total OTTI losses were $51 million and $14 million for the first half of 2019 and 2018, respectively. Of total OTTI, losses of $52 million and $18 million were recognized in earnings, and losses (reversal of losses) of $(1) million and $(4) million were recognized as non-credit-related OTTI in other comprehensive income for the first half of 2019 and 2018, respectively.
(2)
Includes OTTI losses of $31 million and $237 million for second quarter 2019 and 2018, respectively, and $67 million and $257 million for the first half of 2019 and 2018, respectively.

The accompanying notes are an integral part of these statements.

61

Wells Fargo & Company and Subsidiaries
 
 
 
 
 
 
 
 
Consolidated Statement of Comprehensive Income (Unaudited)
 
 
 
 
 
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
 
2019

 
2018

 
2019

 
2018

Wells Fargo net income
 
$
6,206

 
5,186

 
12,066

 
10,322

Other comprehensive income (loss), before tax:
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
 
1,709

 
(617
)
 
4,540

 
(4,060
)
Reclassification of net (gains) losses to net income
 
39

 
49

 
(42
)
 
117

Derivative and hedging activities:
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
 
57

 
(150
)
 
22

 
(392
)
Reclassification of net losses to net income
 
79

 
77

 
158

 
137

Defined benefit plans adjustments:
 
 
 
 
 
 
 
 
Net actuarial and prior service gains (losses) arising during the period
 
—

 
—

 
(4
)
 
6

Amortization of net actuarial loss, settlements and other to net income
 
33

 
29

 
68

 
61

Foreign currency translation adjustments:
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
 
14

 
(83
)
 
56

 
(85
)
Other comprehensive income (loss), before tax
 
1,931

 
(695
)
 
4,798

 
(4,216
)
Income tax benefit (expense) related to other comprehensive income
 
(473
)
 
154

 
(1,167
)
 
1,016

Other comprehensive income (loss), net of tax
 
1,458

 
(541
)
 
3,631

 
(3,200
)
Less: Other comprehensive loss from noncontrolling interests
 
—

 
(1
)
 
—

 
(1
)
Wells Fargo other comprehensive income (loss), net of tax
 
1,458

 
(540
)
 
3,631

 
(3,199
)
Wells Fargo comprehensive income
 
7,664

 
4,646

 
15,697

 
7,123

Comprehensive income from noncontrolling interests
 
132

 
122

 
239

 
313

Total comprehensive income
 
$
7,796

 
4,768

 
15,936

 
7,436



The accompanying notes are an integral part of these statements.

62

Wells Fargo & Company and Subsidiaries
 
 
 
Consolidated Balance Sheet
 
 
 
(in millions, except shares)
Jun 30,
2019

 
Dec 31,
2018

Assets
(Unaudited)

 
 
Cash and due from banks
$
20,880

 
23,551

Interest-earning deposits with banks
143,547

 
149,736

Total cash, cash equivalents, and restricted cash
164,427

 
173,287

Federal funds sold and securities purchased under resale agreements
112,119

 
80,207

Debt securities:
 
 
 
Trading, at fair value
70,208

 
69,989

Available-for-sale, at fair value
265,983

 
269,912

Held-to-maturity, at cost (fair value $147,864 and $142,115)
145,876

 
144,788

Mortgage loans held for sale (includes $16,343 and $11,771 carried at fair value) (1)
22,998

 
15,126

Loans held for sale (includes $1,118 and $1,469 carried at fair value) (1)
1,181

 
2,041

Loans (includes $202 and $244 carried at fair value) (1)
949,878

 
953,110

Allowance for loan losses 
(9,692
)
 
(9,775
)
Net loans
940,186

 
943,335

Mortgage servicing rights: 
 
 
 
Measured at fair value 
12,096

 
14,649

Amortized 
1,407

 
1,443

Premises and equipment, net 
9,435

 
8,920

Goodwill
26,415

 
26,418

Derivative assets
13,162

 
10,770

Equity securities (includes $35,950 and $29,556 carried at fair value) (1)
61,537

 
55,148

Other assets
76,358

 
79,850

Total assets (2) 
$
1,923,388

 
1,895,883

Liabilities
 
 
 
Noninterest-bearing deposits 
$
340,813

 
349,534

Interest-bearing deposits 
947,613

 
936,636

Total deposits 
1,288,426

 
1,286,170

Short-term borrowings 
115,344

 
105,787

Derivative liabilities
8,399

 
8,499

Accrued expenses and other liabilities
69,706

 
69,317

Long-term debt 
241,476

 
229,044

Total liabilities (3) 
1,723,351

 
1,698,817

Equity 
 
 
 
Wells Fargo stockholders’ equity: 
 
 
 
Preferred stock 
23,021

 
23,214

Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 
9,136

 
9,136

Additional paid-in capital 
60,625

 
60,685

Retained earnings 
164,551

 
158,163

 Cumulative other comprehensive income (loss)
(2,224
)
 
(6,336
)
Treasury stock – 1,062,220,277 shares and 900,557,866 shares 
(54,775
)
 
(47,194
)
Unearned ESOP shares 
(1,292
)
 
(1,502
)
Total Wells Fargo stockholders’ equity 
199,042

 
196,166

Noncontrolling interests 
995

 
900

Total equity
200,037

 
197,066

Total liabilities and equity
$
1,923,388

 
1,895,883

(1)
Parenthetical amounts represent assets and liabilities that we are required to carry at fair value or have elected the fair value option.
(2)
Our consolidated assets at June 30, 2019, and December 31, 2018, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $11 million and $139 million; Interest-earning deposits with banks, $8 million and $8 million; Debt securities, $60 million and $45 million; Net loans, $13.6 billion and $13.6 billion; Equity securities, $121 million and $85 million; Other assets, $208 million and $221 million; and Total assets, $14.0 billion and $14.1 billion, respectively.
(3)
Our consolidated liabilities at June 30, 2019, and December 31, 2018, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Derivative liabilities, $1 million and $0 million; Accrued expenses and other liabilities, $201 million and $191 million; Long-term debt, $748 million and $816 million; and Total liabilities, $950 million and $1.0 billion, respectively. 

The accompanying notes are an integral part of these statements.

63


Wells Fargo & Company and Subsidiaries
 
 
 
 
 
 
 
Consolidated Statement of Changes in Equity (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
 
 
Common stock
 
(in millions, except shares)
Shares

 
Amount

 
Shares

 
Amount

Balance March 31, 2019
9,377,211

 
$
23,214

 
4,511,947,830

 
$
9,136

Net income
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Noncontrolling interests
 
 
 
 
 
 
 
Common stock issued
 
 
 
 
8,491,923

 
 
Common stock repurchased
 
 
 
 
(104,852,744
)
 
 
Preferred stock issued to ESOP
—

 
—

 
 
 
 
Preferred stock released by ESOP
 
 
 
 
 
 
 
Preferred stock converted to common shares
(193,042
)
 
(193
)
 
4,004,188

 
 
Common stock warrants repurchased/exercised
 
 
 
 
 
 
 
Preferred stock issued
—

 
—

 
 
 
 
Common stock dividends
 
 
 
 
 
 
 
Preferred stock dividends
 
 
 
 
 
 
 
Stock incentive compensation expense
 
 
 
 
 
 
 
Net change in deferred compensation and related plans
 
 
 
 
 
 
 
Net change
(193,042
)

(193
)

(92,356,633
)
Balance
—

Balance June 30, 2019
9,184,169


$
23,021


4,419,591,197


$
9,136

Balance March 31, 2018
12,546,235

 
$
26,227

 
4,873,882,481

 
$
9,136

Net income
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Noncontrolling interests
 
 
 
 
 
 
 
Common stock issued
 
 
 
 
1,834,029

 
 
Common stock repurchased (1)
 
 
 
 
(35,771,728
)
 
 
Preferred stock issued to ESOP
—

 
—

 
 
 
 
Preferred stock released by ESOP
 
 
 
 
 
 
 
Preferred stock converted to common shares
(490,251
)
 
(490
)
 
9,123,072

 
 
Common stock warrants repurchased/exercised
 
 
 
 
 
 
 
Preferred stock issued
—

 
—

 
 
 
 
Common stock dividends
 
 
 
 
 
 
 
Preferred stock dividends
 
 
 
 
 
 
 
Stock incentive compensation expense
 
 
 
 
 
 
 
Net change in deferred compensation and related plans
 
 
 
 
 
 
 
Net change
(490,251
)

(490
)

(24,814,627
)

—

Balance June 30, 2018
12,055,984


$
25,737


4,849,067,854


$
9,136


(1)
For the quarter ended June 30, 2018, additional paid-in capital was reduced by $1.0 billion for the upfront payment related to a private forward repurchase transaction that settled in third quarter 2018 and reduced our third quarter 2018 shares of common stock by 18.8 million shares upon settlement.

64


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter ended June 30,
 
 
 
 
 
 
 
Wells Fargo stockholders’ equity
 
 
 
 
 
Additional
paid-in
capital

 
Retained
earnings

 
Cumulative
other
comprehensive
income

 
Treasury
stock

 
Unearned
ESOP
shares

 
Total
Wells Fargo
stockholders’
equity

 
Noncontrolling
interests

 
Total
equity

60,409

 
160,776

 
(3,682
)
 
(50,519
)
 
(1,502
)
 
197,832

 
901

 
198,733

 
 
6,206

 
 
 
 
 
 
 
6,206

 
132

 
6,338

 
 
 
 
1,458

 
 
 
 
 
1,458

 
—

 
1,458

—

 
 
 
 
 
 
 
 
 
—

 
(38
)
 
(38
)
(2
)
 
(38
)
 
 
 
439

 
 
 
399

 
 
 
399

—

 
 
 
 
 
(4,898
)
 
 
 
(4,898
)
 
 
 
(4,898
)
—

 
 
 
 
 
 
 
—

 
—

 
 
 
—

(17
)
 
 
 
 
 
 
 
210

 
193

 
 
 
193

(15
)
 
 
 
 
 
208

 
 
 
—

 
 
 
—

—

 
 
 
 
 
 
 
 
 
—

 
 
 
—

—

 
 
 
 
 
 
 
 
 
—

 
 
 
—

20

 
(2,035
)
 
 
 
 
 
 
 
(2,015
)
 
 
 
(2,015
)
 
 
(358
)
 
 
 
 
 
 
 
(358
)
 
 
 
(358
)
247

 
 
 
 
 
 
 
 
 
247

 
 
 
247

(17
)
 
 
 
 
 
(5
)
 
 
 
(22
)
 
 
 
(22
)
216


3,775


1,458


(4,256
)

210


1,210


94


1,304

60,625


164,551


(2,224
)

(54,775
)

(1,292
)

199,042


995


200,037

60,399

 
147,928

 
(4,921
)
 
(31,246
)
 
(2,571
)
 
204,952

 
958

 
205,910

 
 
5,186

 
 
 
 
 
 
 
5,186

 
123

 
5,309

 
 
 
 
(540
)
 
 
 
 
 
(540
)
 
(1
)
 
(541
)
—

 
  

 
 
 
 
 
 
 
—

 
(199
)
 
(199
)
(20
)
 
—

 
 
 
93

 
 
 
73

 
 
 
73

(1,000
)
 
 
 
 
 
(1,923
)
 
 
 
(2,923
)
 
 
 
(2,923
)
—

 
 
 
 
 
 
 
—

 
—

 
 
 
—

(30
)
 
 
 
 
 
 
 
520

 
490

 
 
 
490

22

 
 
 
 
 
468

 
 
 
—

 
 
 
—

(1
)
 
 
 
 
 
 
 
 
 
(1
)
 
 
 
(1
)
—

 
 
 
 
 
 
 
 
 
—

 
 
 
—

17

 
(1,917
)
 
 
 
 
 
 
 
(1,900
)
 
 
 
(1,900
)
 
 
(394
)
 
 
 
 
 
 
 
(394
)
 
 
 
(394
)
258

 
 
 
 
 
 
 
 
 
258

 
 
 
258

(1
)
 
 
 
 
 
(12
)
 
 
 
(13
)
 
 
 
(13
)
(755
)

2,875


(540
)

(1,374
)

520


236


(77
)

159

59,644


150,803


(5,461
)

(32,620
)

(2,051
)

205,188


881


206,069



65


Wells Fargo & Company and Subsidiaries
 
 
 
 
 
 
 
Consolidated Statement of Changes in Equity (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
 
 
Common stock
 
(in millions, except shares)
Shares

 
Amount

 
Shares

 
Amount

Balance December 31, 2018
9,377,216

 
$
23,214

 
4,581,253,608

 
$
9,136

Cumulative effect from change in accounting policies (1)
 
 
 
 
 
 
 
Balance January 1, 2019
9,377,216

 
$
23,214

 
4,581,253,608

 
$
9,136

Net income
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Noncontrolling interests
 
 
 
 
 
 
 
Common stock issued
 
 
 
 
36,549,824

 
 
Common stock repurchased
 
 
 
 
(202,216,454
)
 
 
Preferred stock issued to ESOP
—

 
—

 
 
 
 
Preferred stock released by ESOP
 
 
 
 
 
 
 
Preferred stock converted to common shares
(193,047
)
 
(193
)
 
4,004,219

 
 
Common stock warrants repurchased/exercised
 
 
 
 
 
 
 
Preferred stock issued
—

 
—

 
 
 
 
Common stock dividends
 
 
 
 
 
 
 
Preferred stock dividends
 
 
 
 
 
 
 
Stock incentive compensation expense
 
 
 
 
 
 
 
Net change in deferred compensation and related plans
 
 
 
 
 
 
 
Net change
(193,047
)
 
(193
)
 
(161,662,411
)
 
—

Balance June 30, 2019
9,184,169

 
$
23,021

 
4,419,591,197

 
$
9,136

Balance December 31, 2017
11,677,235

 
$
25,358

 
4,891,616,628

 
$
9,136

Cumulative effect from change in accounting policies (2)
 
 
 
 
 
 
 
Balance January 1, 2018
11,677,235

 
$
25,358

 
4,891,616,628

 
$
9,136

Net income
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Noncontrolling interests
 
 
 
 
 
 
 
Common stock issued
 
 
 
 
30,259,788

 
 
Common stock repurchased (3)
 
 
 
 
(86,339,185
)
 
 
Preferred stock issued to ESOP
1,100,000

 
1,100

 
 
 
 
Preferred stock released by ESOP
  

 
 
 
 
 
 
Preferred stock converted to common shares
(721,251
)
 
(721
)
 
13,530,623

 
 
Common stock warrants repurchased/exercised
  

 
 
 
  

 
 
Preferred stock issued
—

 
—

 
  

 
 
Common stock dividends
 
 
 
 
 
 
 
Preferred stock dividends
 
 
 
 
 
 
 
Stock incentive compensation expense
 
 
 
 
 
 
 
Net change in deferred compensation and related plans
 
 
 
 
 
 
 
Net change
378,749

 
379

 
(42,548,774
)
 
—

Balance June 30, 2018
12,055,984

 
$
25,737

 
4,849,067,854

 
$
9,136


(1)
Effective January 1, 2019, we adopted ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. See Note 1 (Summary of Significant Accounting Policies) for more information.
(2)
Effective January 1, 2018, we adopted ASU 2016-04 – Liabilities – Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products, ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, and ASU 2014-09 – Revenue from Contracts With Customers (Topic 606) and subsequent related Updates. See Note 1 (Summary of Significant Accounting Policies) for more information.
(3)
For the quarter ended June 30, 2018, additional paid-in capital was reduced by $1.0 billion for the upfront payment related to a private forward repurchase transaction that settled in third quarter 2018 and reduced our third quarter 2018 shares of common stock by 18.8 million shares upon settlement.

66


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 
 
 
 
 
 
Wells Fargo stockholders’ equity
 
 
 
 
 
Additional
paid-in
capital

 
Retained
earnings

 
Cumulative
other
comprehensive
income

 
Treasury
stock

 
Unearned
ESOP
shares

 
Total
Wells Fargo
stockholders’
equity

 
Noncontrolling
interests

 
Total
equity

60,685

 
158,163

 
(6,336
)
 
(47,194
)
 
(1,502
)
 
196,166

 
900

 
197,066

 
 
(492
)
 
481

 
 
 
 
 
(11
)
 
 
 
(11
)
60,685

 
157,671

 
(5,855
)
 
(47,194
)
 
(1,502
)
 
196,155

 
900

 
197,055

 
 
12,066

 
 
 
 
 
 
 
12,066

 
239

 
12,305

 
 
 
 
3,631

 
 
 
 
 
3,631

 
—

 
3,631

—

 


 


 


 


 
—

 
(144
)
 
(144
)
(2
)
 
(367
)
 


 
1,907

 


 
1,538

 
 
 
1,538

—

 


 


 
(9,718
)
 


 
(9,718
)
 
 
 
(9,718
)
—

 


 


 


 
—

 
—

 
 
 
—

(17
)
 


 


 


 
210

 
193

 
 
 
193

(15
)
 


 


 
208

 


 
—

 
 
 
—

—

 


 


 


 


 
—

 
 
 
—

—

 


 


 


 


 
—

 
 
 
—

39

 
(4,108
)
 


 


 


 
(4,069
)
 
 
 
(4,069
)


 
(711
)
 


 


 


 
(711
)
 
 
 
(711
)
791

 


 


 


 


 
791

 
 
 
791

(856
)
 


 


 
22

 


 
(834
)
 
 
 
(834
)
(60
)
 
6,880

 
3,631

 
(7,581
)
 
210

 
2,887

 
95

 
2,982

60,625

 
164,551

 
(2,224
)
 
(54,775
)
 
(1,292
)
 
199,042

 
995

 
200,037

60,893

 
145,263

 
(2,144
)
 
(29,892
)
 
(1,678
)
 
206,936

 
1,143

 
208,079

 
 
94

 
(118
)
 
 
 
 
 
(24
)
 
 
 
(24
)
60,893

 
145,357

 
(2,262
)
 
(29,892
)
 
(1,678
)
 
206,912

 
1,143

 
208,055

  

 
10,322

 
  

 
  

 
 
 
10,322

 
314

 
10,636

  
 
  
 
(3,199
)
 
  
 
 
 
(3,199
)
 
(1
)
 
(3,200
)
7

 
  

 
  

 
  

 
 
 
7

 
(575
)
 
(568
)
5

 
(231
)
 
  

 
1,507

 
 
 
1,281

 
 
 
1,281

(1,000
)
 
 
 
  

 
(4,952
)
 
 
 
(5,952
)
 
 
 
(5,952
)
43

 
 
 
  

 
 
 
(1,143
)
 
—

 
 
 
—

(49
)
 
 
 
  

 
 
 
770

 
721

 
 
 
721

27

 
 
 
  

 
694

 
 
 
—

 
 
 
—

(158
)
 
 
 
  

 
  

 
 
 
(158
)
 
 
 
(158
)
—

 
 
 
  

 
  

 
 
 
—

 
 
 
—

30

 
(3,841
)
 
  

 
  

 
 
 
(3,811
)
 
 
 
(3,811
)
 
 
(804
)
 
  

 
  

 
 
 
(804
)
 
 
 
(804
)
695

 
 
 
  

 
 
 
 
 
695

 
 
 
695

(849
)
 
  

 
  

 
23

 
 
 
(826
)
 
 
 
(826
)
(1,249
)
 
5,446

 
(3,199
)
 
(2,728
)
 
(373
)
 
(1,724
)
 
(262
)
 
(1,986
)
59,644

 
150,803

 
(5,461
)
 
(32,620
)
 
(2,051
)
 
205,188

 
881

 
206,069



67


Wells Fargo & Company and Subsidiaries
 
 
 
Consolidated Statement of Cash Flows (Unaudited)
 
 
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

Cash flows from operating activities:
 
 
 
Net income before noncontrolling interests
$
12,305

 
10,636

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Provision for credit losses
1,348

 
643

Changes in fair value of MSRs, MLHFS and LHFS carried at fair value
2,408

 
(787
)
Depreciation, amortization and accretion
3,100

 
2,835

Other net (gains)
(1,360
)
 
(6,285
)
Stock-based compensation
1,388

 
1,286

Originations and purchases of mortgage loans held for sale
(63,836
)
 
(80,948
)
Proceeds from sales of and paydowns on mortgage loans held for sale
39,741

 
60,898

Net change in:
 
 
 
Debt and equity securities, held for trading
14,777

 
16,371

Loans held for sale
619

 
(411
)
Deferred income taxes
(821
)
 
1,118

Derivative assets and liabilities
(2,461
)
 
958

Other assets
7,194

 
7,547

Other accrued expenses and liabilities
(7,120
)
 
520

Net cash provided by operating activities
7,282

 
14,381

Cash flows from investing activities:
 
 
 
Net change in:
 
 
 
Federal funds sold and securities purchased under resale agreements
(31,912
)
 
(1,161
)
Available-for-sale debt securities:
 
 
 
Proceeds from sales
6,682

 
6,151

Prepayments and maturities
17,657

 
17,377

Purchases
(18,306
)
 
(26,300
)
Held-to-maturity debt securities:
 
 
 
Paydowns and maturities
5,145

 
5,431

Purchases
(154
)
 
—

Equity securities, not held for trading:
 
 
 
Proceeds from sales and capital returns
2,320

 
3,337

Purchases
(2,426
)
 
(2,791
)
Loans:
 
 
 
Loans originated by banking subsidiaries, net of principal collected
(7,008
)
 
(445
)
Proceeds from sales (including participations) of loans held for investment
8,196

 
7,879

Purchases (including participations) of loans
(1,001
)
 
(668
)
Principal collected on nonbank entities’ loans
1,770

 
3,229

Loans originated by nonbank entities
(2,604
)
 
(2,998
)
Proceeds from sales of foreclosed assets and short sales
1,405

 
1,954

Other, net
512

 
(284
)
Net cash provided (used) by investing activities
(19,724
)
 
10,711

Cash flows from financing activities:
 
 
 
Net change in:
 
 
 
Deposits
1,938

 
(67,101
)
Short-term borrowings
9,557

 
1,240

Long-term debt:
 
 
 
Proceeds from issuance
33,091

 
21,308

Repayment
(26,357
)
 
(22,305
)
Preferred stock:
 
 
 
Cash dividends paid
(711
)
 
(872
)
Common stock:
 
 
 
Proceeds from issuance
242

 
446

Stock tendered for payment of withholding taxes
(272
)
 
(311
)
Repurchased
(9,718
)
 
(5,952
)
Cash dividends paid
(3,954
)
 
(3,722
)
Net change in noncontrolling interests
(124
)
 
(232
)
Other, net
(110
)
 
(89
)
Net cash provided (used) by financing activities
3,582

 
(77,590
)
Net change in cash, cash equivalents, and restricted cash
(8,860
)
 
(52,498
)
Cash, cash equivalents, and restricted cash at beginning of period
173,287

 
215,947

Cash, cash equivalents, and restricted cash at end of period
$
164,427

 
163,449

Supplemental cash flow disclosures:
 
 
 
Cash paid for interest
$
9,354

 
6,352

Cash paid for income taxes
2,516

 
1,679


The accompanying notes are an integral part of these statements. See Note 1 (Summary of Significant Accounting Policies) for noncash activities.

68
Note 1: Summary of Significant Accounting Policies (continued)

See the Glossary of Acronyms at the end of this Report for terms used throughout the Financial Statements and related Notes.
 
Note 1:  Summary of Significant Accounting Policies
Wells Fargo & Company is a diversified financial services company. We provide banking, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance through banking locations, the internet and other distribution channels to consumers, businesses and institutions in all 50 states, the District of Columbia, and in foreign countries. When we refer to “Wells Fargo,” “the Company,” “we,” “our” or “us,” we mean Wells Fargo & Company and Subsidiaries (consolidated). Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding.
Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. For discussion of our significant accounting policies, see Note 1 (Summary of Significant Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2018 (2018 Form 10-K). To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements, income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including:
•
allowance for credit losses (Note 6 (Loans and Allowance for Credit Losses));
•
valuations of residential mortgage servicing rights (MSRs) (Note 10 (Securitizations and Variable Interest Entities) and Note 11 (Mortgage Banking Activities));
•
valuations of financial instruments (Note 15 (Derivatives) and Note 16 (Fair Values of Assets and Liabilities));
•
liabilities for contingent litigation losses (Note 14 (Legal Actions)); and
•
income taxes.

Actual results could differ from those estimates.
These unaudited interim financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2018 Form 10-K.
 
Accounting Standards Adopted in 2019
In first quarter 2019, we adopted the following new accounting guidance:
•
Accounting Standards Update (ASU or Update) 2018-16 – Derivatives and Hedging (Topic 815): Inclusion of the
 
Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes
•
ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities
•
ASU 2016-02 – Leases (Topic 842) and subsequent related Updates, including early adoption of ASU 2019-01 – Leases (Topic 842): Codification Improvements

ASU 2018-16 expands the list of U.S. benchmark interest rates permitted in the application of hedge accounting. The Update adds the OIS rate based on SOFR as a U.S. benchmark interest rate to facilitate the LIBOR to SOFR transition and provide sufficient lead time for entities to prepare for changes to interest rate risk hedging strategies for both risk management and hedge accounting purposes. The Update is applied prospectively for qualifying new or re-designated hedging relationships entered into on or after adoption date.
We adopted the guidance in first quarter 2019. The adoption did not have an impact as we did not designate SOFR OIS as a benchmark interest rate in any hedging relationships.

ASU 2017-08 changes the interest income recognition model for purchased callable debt securities carried at a premium, as the premium will be amortized to the earliest call date rather than to the contractual maturity date. Accounting for purchased callable debt securities held at a discount does not change, as the discount will continue to accrete to the contractual maturity date. The Update impacted our investments in purchased callable debt securities classified as available-for-sale (AFS) and held-to-maturity (HTM), which primarily consist of debt securities of U.S. states and political subdivisions.
We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment as of January 1, 2019, that decreased total stockholders’ equity by $111 million. Retained earnings was reduced by $592 million which reflects both the incremental premium amortization under the new guidance from the acquisition date of our impacted AFS and HTM debt securities through the date of adoption and the fact that the incremental premium amortization is not deductible for federal income tax purposes. Other comprehensive income (OCI) was increased by $481 million which reflects the corresponding adjustment to the adoption date unrealized gain or loss of impacted AFS debt securities. Going forward, interest income recognized prior to the call date will be reduced because the premium will be amortized over a shorter period.

ASU 2016-02 modifies the guidance used by lessors and lessees to account for leasing transactions. For our transition to the new guidance, we elected several available practical expedients, including to not reassess the classification of our existing leases, any initial direct costs associated with our leases, or whether any existing contracts are or contain leases. In addition, we elected not to provide a comparative presentation for 2018 and 2017 financial statements.
We adopted the Update in first quarter 2019 and recorded a cumulative-effect adjustment that increased retained earnings by $100 million related to deferred gains on our prior sale-leaseback transactions. We also recognized operating lease right-of-use

69

(ROU) assets and liabilities, substantially all of which relate to our leasing of real estate as a lessee, of $4.9 billion and $5.6 billion, respectively.

Leasing Activity
AS LESSOR We lease equipment to our customers under financing or operating leases.
Financing leases are presented in loans and are recorded at the discounted amounts of lease payments receivable plus the estimated residual value of the leased asset. Leveraged leases, which are a form of financing leases, are reduced by related non-recourse debt from third-party investors. Lease payments receivable reflect contractual lease payments adjusted for renewal or termination options that we believe the customer is reasonably certain to exercise. The residual value reflects our best estimate of the expected sales price for the equipment at lease termination based on sales history adjusted for recent trends in the expected exit markets. Many of our leases allow the customer to extend the lease at prevailing market terms or purchase the asset for fair value at lease termination.
Our allowance for loan losses for financing leases considers both the collectability of the lease payments receivable as well as the estimated residual value of the leased asset. We typically purchase residual value insurance on our financing leases so that our risk of loss at lease termination will be less than 10% of the initial value of the lease. Our risk to declines in residual values is further mitigated by the diversity of leased assets in our lease portfolio. In addition, we have several channels for re-leasing or marketing those assets.
In connection with a lease, we may finance the customer’s purchase of other products or services from the equipment vendor and allocate the contract consideration between the use of the asset and the purchase of those products or services based on information obtained from the vendor. Amounts allocated to financing of vendor products or services are reported in loans as commercial and industrial loans, rather than as lease financing.
Our primary income from financing leases is interest income recognized using the effective interest method. Variable lease revenues, such as reimbursement for property taxes associated with the leased asset, are included in lease income within noninterest income.
Operating lease assets are presented in other assets, net of accumulated depreciation. Periodic depreciation expense is recorded on a straight-line basis to the estimated residual value over the estimated useful life of the leased asset. On a periodic basis, operating lease assets are reviewed for impairment and impairment loss is recognized if the carrying amount of operating lease assets exceeds fair value and is not recoverable. The carrying amount of leased assets is deemed not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the lease payments and the estimated residual value upon the eventual disposition of the equipment. Depreciation of leased assets and impairment loss are presented in operating leases expense within other noninterest expense.
 
Operating lease rental income for leased assets is recognized in lease income within noninterest income on a straight-line basis over the lease term. For leases of railcars, revenue for maintenance services provided under the lease is recognized in lease income.
We elected to exclude from revenues and expenses any sales tax incurred on lease payments which are reimbursed by the lessee. Substantially all of our leased assets are protected against casualty loss through third party insurance.

AS LESSEE We enter into lease agreements to obtain the right to use assets for our business operations, substantially all of which are real estate. Lease liabilities and ROU assets are recognized when we enter into operating or financing leases and represent our obligations and rights to use these assets over the period of the leases and may be re-measured for certain modifications, resolution of certain contingencies involving variable consideration, or our exercise of options (renewal, extension, or termination) under the lease.
Operating lease liabilities include fixed and in-substance fixed payments for the contractual duration of the lease, adjusted for renewals or terminations which were deemed probable of exercise when measured. The lease payments are discounted using a rate determined when the lease is recognized. As we typically do not know the discount rate implicit in the lease, we estimate a discount rate that we believe approximates a collateralized borrowing rate for the estimated duration of the lease. The discount rate is updated when re-measurement events occur. The related operating lease ROU assets may differ from operating lease liabilities due to initial direct costs, deferred or prepaid lease payments and lease incentives.
We present operating lease liabilities in accrued expenses and other liabilities and the related operating lease ROU assets in other assets. The amortization of operating lease ROU assets and the accretion of operating lease liabilities are reported together as fixed lease expense and are included in net occupancy expense within noninterest expense. The fixed lease expense is recognized on a straight-line basis over the life of the lease.
Some of our operating leases include variable lease payments which are periodic adjustments of our payments for the use of the asset based on changes in factors such as consumer price indices, fair market value, tax rates imposed by taxing authorities, or lessor cost of insurance. To the extent not included in operating lease liabilities and operating lease ROU assets, these variable lease payments are recognized as incurred in net occupancy expense within noninterest expense.
For substantially all of our leased assets, we account for consideration paid under the contract for maintenance or other services as lease payments. In addition, for certain asset classes, we have elected to exclude leases with original terms of less than one year from the operating lease ROU assets and lease liabilities. The related short-term lease expense is included in net occupancy expense.
Finance lease (formerly capital lease) liabilities are presented in long-term debt and the associated finance ROU assets are presented in premises and equipment.


70
Note 1: Summary of Significant Accounting Policies (continued)

Share Repurchases
From time to time we may enter into private forward repurchase contracts, written repurchase plans pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, or a combination of the two to complement our open-market common stock repurchase strategies. The stock repurchase transactions allow us to manage our share repurchases in a manner consistent with our capital plans submitted annually under the Comprehensive Capital Analysis and Review (CCAR) and to provide an economic benefit to the Company.
Our payments to the counterparties for the private forward repurchase contracts are recorded in permanent equity in the quarter paid and are not subject to re-measurement. The classification of the up-front payments as permanent equity assures that we have appropriate repurchase timing consistent with our capital plans, which contemplate a fixed dollar amount available per quarter for share repurchases pursuant to the Board of Governors of the Federal Reserve System (FRB) supervisory
 
guidance. In return, the counterparty agrees to deliver a variable number of shares based on a per share discount to the volume-weighted average stock price over the contract period. There are no scenarios where the contracts would not either physically settle in shares or allow us to choose the settlement method. Our total number of outstanding shares of common stock is not reduced until settlement of the private share repurchase contract.
We did not enter into any private forward repurchase contracts in second quarter 2019 and we had no unsettled private share repurchase contracts at June 30, 2019.
Under a Rule 10b5-1 repurchase plan, payments and receipt of repurchased shares settle on the same day and the shares repurchased reduce the total number of outstanding shares of common stock upon the settlement of each trade under the plan.

Supplemental Cash Flow Information
Significant noncash activities are presented in Table 1.1.

Table 1.1: Supplemental Cash Flow Information
 
Six months ended June 30,
 
(in millions)
2019

 
2018

Trading debt securities retained from securitization of MLHFS
$
19,131

 
17,674

Transfers from loans to MLHFS
4,419

 
3,053

Transfers from loans to LHFS
92

 
2,149

Transfers from available-for-sale debt securities to held-to-maturity debt securities
6,071

 
10,371

Operating lease ROU assets acquired with operating lease liabilities (1)
5,302

 
—


(1)
The six months ended June 30, 2019, balance includes $4.9 billion from adoption of ASU 2016-02 – Leases (Topic 842) and $402 million attributable to new leases and changes from modified leases.

Subsequent Events
We have evaluated the effects of events that have occurred subsequent to June 30, 2019, and, except as disclosed elsewhere in the footnotes, there have been no material events that would
 
require recognition in our second quarter 2019 consolidated financial statements or disclosure in the Notes to the consolidated financial statements.
Note 2:  Business Combinations
We regularly explore opportunities to acquire financial services companies and businesses. Generally, we do not make a public announcement about an acquisition opportunity until a definitive agreement has been signed.
We completed no acquisitions during the first half of 2019 and had no business combinations pending as of June 30, 2019.
We closed the previously announced sale of our Institutional Retirement and Trust business (IRT) on July 1, 2019, and we recognized a pre-tax gain of approximately $1.1 billion, which will be reflected in our third quarter 2019 net income. We will continue to administer client assets at the direction of the buyer for up to 24 months pursuant to a transition services agreement. The buyer will receive all post-closing revenue from the client assets and will pay us a fee for costs that we incur to administer the client assets during the transition period. The transition services fee will be recognized as other noninterest income. Assets under administration related to IRT were $918 billion at June 30, 2019. Transition period revenue, is expected to approximate transition period expenses and is subject to downward adjustment as client assets transition to the buyer's platform.



71


Note 3:  Cash, Loan and Dividend Restrictions
Cash and cash equivalents may be restricted as to usage or withdrawal. FRB regulations require that each of our subsidiary banks maintain reserve balances on deposit with the Federal Reserve Banks. Table 3.1 provides a summary of restrictions on cash equivalents in addition to the FRB reserve cash balance requirements.
Table 3.1: Nature of Restrictions on Cash Equivalents
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Average required reserve balance for FRB (1)
$
11,179

 
12,428

Reserve balance for non-U.S. central banks
556

 
517

Segregated for benefit of brokerage customers under federal and other brokerage regulations
956

 
1,135

Related to consolidated variable interest entities (VIEs) that can only be used to settle liabilities of VIEs
19

 
147

(1)
FRB required reserve balance represents average for the first half of 2019 and for the year ended December 31, 2018.

We have a state-chartered subsidiary bank that is subject to state regulations that limit dividends. Under these provisions and regulatory limitations, our national and state-chartered subsidiary banks could have declared additional dividends of $7.6 billion at June 30, 2019, without obtaining prior regulatory approval. Our nonbank subsidiaries are also limited by certain federal and state statutory provisions and regulations covering the amount of dividends that may be paid in any given year. In addition, under a Support Agreement dated June 28, 2017, as amended and restated on June 26, 2019, among Wells Fargo & Company, the parent holding company (the “Parent”), WFC Holdings, LLC, an intermediate holding company and subsidiary of the Parent (the “IHC”), Wells Fargo Bank, N.A., Wells Fargo Securities, LLC, Wells Fargo Clearing Services, LLC, and certain other direct and indirect subsidiaries of the Parent designated as material entities for resolution planning purposes or identified as related support entities in our resolution plan, the IHC may be restricted from making dividend payments to the Parent if certain liquidity and/or capital metrics fall below defined triggers or if the Parent's board of directors authorizes it to file a case under the U.S. Bankruptcy Code. Based on retained earnings at June 30, 2019, our nonbank subsidiaries could have declared additional dividends of $25.1 billion at June 30, 2019, without obtaining prior regulatory approval. For additional information see Note 3 (Cash, Loan and Dividend Restrictions) in our 2018 Form 10-K.
 
The FRB’s Capital Plan Rule (codified at 12 CFR 225.8 of Regulation Y) establishes capital planning and prior notice and approval requirements for capital distributions including dividends by certain large bank holding companies. The FRB has also published guidance regarding its supervisory expectations for capital planning, including capital policies regarding the process relating to common stock dividend and repurchase decisions in the FRB’s SR Letter 15-18. The effect of this guidance is to require the approval of the FRB (or specifically under the Capital Plan Rule, a notice of non-objection) for the Company to repurchase or redeem common or perpetual preferred stock as well as to raise the per share quarterly dividend from its current level of $0.51 per share as declared by the Company’s Board of Directors on July 23, 2019, payable on September 1, 2019.


72


Note 4:  Trading Activities
Table 4.1 presents a summary of our trading assets and liabilities measured at fair value through earnings.
Table 4.1: Trading Assets and Liabilities
 
Jun 30,

 
Dec 31,

(in millions)
2019

 
2018

Trading assets:
 
 
 
Debt securities
$
70,208

 
69,989

Equity securities
23,327

 
19,449

Loans held for sale
1,118

 
1,469

Gross trading derivative assets
34,683

 
29,216

Netting (1)
(22,827
)
 
(19,807
)
Total trading derivative assets
11,856

 
9,409

Total trading assets
106,509

 
100,316

Trading liabilities:
 
 
 
Short sale
15,955

 
19,720

Gross trading derivative liabilities
33,458

 
28,717

Netting (1)
(26,417
)
 
(21,178
)
Total trading derivative liabilities
7,041

 
7,539

Total trading liabilities
$
22,996

 
27,259

(1)
Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level counterparty valuation adjustments.
Table 4.2 provides a summary of the net interest income earned from trading securities, and net gains and losses due to the realized and unrealized gains and losses from trading activities.
 
Net interest income includes dividend income on trading securities and dividend expense on trading securities we have sold, but not yet purchased.

Table 4.2: Net Interest Income and Net Gains (Losses) on Trading Activities
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Interest income:
 
 
 
 
 
 
 
Debt securities
$
740

 
689

 
1,533

 
1,320

Equity securities
143

 
128

 
258

 
269

Loans held for sale
20

 
15

 
43

 
23

Total interest income
903

 
832

 
1,834

 
1,612

Less: Interest expense
127

 
144

 
263

 
272

Net interest income
776

 
688

 
1,571

 
1,340

 
 
 
 
 
 
 
 
Net gains (losses) from trading activities (1):
 
 
 
 
 
 
 
Debt securities
401

 
(140
)
 
1,089

 
(639
)
Equity securities
1,236

 
(635
)
 
3,303

 
(1,104
)
Loans held for sale
(4
)
 
7

 
10

 
15

Derivatives (2)
(1,404
)
 
959

 
(3,816
)
 
2,162

Total net gains from trading activities
229

 
191

 
586

 
434

Total trading-related net interest and noninterest income
$
1,005

 
879

 
2,157

 
1,774

(1)
Represents realized gains (losses) and unrealized gains (losses) due to changes in fair value of our trading positions.
(2)
Excludes economic hedging of mortgage banking and asset/liability management activities, for which hedge results (realized and unrealized) are reported with the respective hedged activities.


73

Note 5:  Available-for-Sale and Held-to-Maturity Debt Securities

Table 5.1 provides the amortized cost and fair value by major categories of available-for-sale debt securities, which are carried at fair value, and held-to-maturity debt securities, which are carried at amortized cost. The net unrealized gains (losses) for
 
available-for-sale debt securities are reported on an after-tax basis as a component of cumulative OCI. Information on debt securities held for trading is included in Note 4 (Trading Activities).
Table 5.1: Amortized Cost and Fair Value
(in millions)
Amortized Cost

 
Gross
unrealized
gains

 
Gross
unrealized
losses

 
Fair
value

June 30, 2019
 
 
 
 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
15,334

 
2

 
(17
)
 
15,319

Securities of U.S. states and political subdivisions (1)
44,205

 
968

 
(78
)
 
45,095

Mortgage-backed securities:
 
 
 
 
 
 
 
Federal agencies
154,549

 
1,617

 
(308
)
 
155,858

Residential
1,241

 
23

 
(1
)
 
1,263

Commercial
4,140

 
45

 
(5
)
 
4,180

Total mortgage-backed securities
159,930

 
1,685

 
(314
)
 
161,301

Corporate debt securities
6,058

 
208

 
(36
)
 
6,230

Collateralized loan and other debt obligations (2) 
32,944

 
165

 
(114
)
 
32,995

Other (3)
4,987

 
70

 
(14
)
 
5,043

Total available-for-sale debt securities
263,458

 
3,098

 
(573
)
 
265,983

Held-to-maturity debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
44,766

 
574

 
(4
)
 
45,336

Securities of U.S. states and political subdivisions
7,948

 
182

 
(5
)
 
8,125

Federal agency and other mortgage-backed securities (4)
93,105

 
1,312

 
(71
)
 
94,346

Collateralized loan obligations
57

 
—

 
—

 
57

Total held-to-maturity debt securities
145,876

 
2,068

 
(80
)
 
147,864

Total
$
409,334

 
5,166

 
(653
)
 
413,847

December 31, 2018
 
 
 
 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
13,451

 
3

 
(106
)
 
13,348

Securities of U.S. states and political subdivisions (1)
48,994

 
716

 
(446
)
 
49,264

Mortgage-backed securities:
 
 
 
 
 
 
 
Federal agencies
155,974

 
369

 
(3,140
)
 
153,203

Residential
2,638

 
142

 
(5
)
 
2,775

Commercial
4,207

 
40

 
(22
)
 
4,225

Total mortgage-backed securities
162,819

 
551

 
(3,167
)
 
160,203

Corporate debt securities
6,230

 
131

 
(90
)
 
6,271

Collateralized loan and other debt obligations (2)
35,581

 
158

 
(396
)
 
35,343

Other (3)
5,396

 
100

 
(13
)
 
5,483

Total available-for-sale debt securities
272,471

 
1,659

 
(4,218
)
 
269,912

Held-to-maturity debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
44,751

 
4

 
(415
)
 
44,340

Securities of U.S. states and political subdivisions
6,286

 
30

 
(116
)
 
6,200

Federal agency and other mortgage-backed securities (4)
93,685

 
112

 
(2,288
)
 
91,509

Collateralized loan obligations
66

 
—

 
—

 
66

Total held-to-maturity debt securities
144,788

 
146

 
(2,819
)
 
142,115

Total
$
417,259

 
1,805

 
(7,037
)
 
412,027

(1)
Includes investments in tax-exempt preferred debt securities issued by investment funds or trusts that predominantly invest in tax-exempt municipal securities. The cost basis and fair value of these types of securities was $5.8 billion each at June 30, 2019, and $6.3 billion each at December 31, 2018.
(2)
Includes collateralized debt obligations (CDOs) with a cost basis and fair value of $521 million and $649 million, respectively, at June 30, 2019, and $662 million and $800 million, respectively, at December 31, 2018.
(3)
Largely includes asset-backed securities collateralized by student loans.
(4)
Predominantly consists of federal agency mortgage-backed securities at both June 30, 2019 and December 31, 2018.

74
Note 5: Available-for-Sale and Held-to-Maturity Debt Securities (continued)

Gross Unrealized Losses and Fair Value
Table 5.2 shows the gross unrealized losses and fair value of available-for-sale and held-to-maturity debt securities by length of time those individual securities in each category have been in a continuous loss position. Debt securities on which we have taken credit-related other-than-temporary impairment (OTTI) write-
 
downs are categorized as being “less than 12 months” or “12 months or more” in a continuous loss position based on the point in time that the fair value declined to below the cost basis and not the period of time since the credit-related OTTI write-down.
Table 5.2: Gross Unrealized Losses and Fair Value
 
Less than 12 months
 
 
12 months or more
 
 
Total
 
(in millions)
Gross
unrealized
losses

 
Fair
value

 
Gross
unrealized
losses

 
Fair
value

 
Gross
unrealized
losses

 
Fair
value

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
(2
)
 
5,780

 
(15
)
 
5,511

 
(17
)
 
11,291

Securities of U.S. states and political subdivisions
(32
)
 
5,003

 
(46
)
 
2,696

 
(78
)
 
7,699

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 

Federal agencies
(2
)
 
1,203

 
(306
)
 
32,179

 
(308
)
 
33,382

Residential
(1
)
 
180

 
—

 
—

 
(1
)
 
180

Commercial
(3
)
 
837

 
(2
)
 
89

 
(5
)
 
926

Total mortgage-backed securities
(6
)
 
2,220

 
(308
)
 
32,268

 
(314
)
 
34,488

Corporate debt securities
(11
)
 
470

 
(25
)
 
281

 
(36
)
 
751

Collateralized loan and other debt obligations
(58
)
 
12,847

 
(56
)
 
7,239

 
(114
)
 
20,086

Other
(8
)
 
1,222

 
(6
)
 
246

 
(14
)
 
1,468

Total available-for-sale debt securities
(117
)
 
27,542

 
(456
)
 
48,241

 
(573
)
 
75,783

Held-to-maturity debt securities:
 
 
 
 
 
 
 
 

 

Securities of U.S. Treasury and federal agencies
—

 
—

 
(4
)
 
1,613

 
(4
)
 
1,613

Securities of U.S. states and political subdivisions
—

 
—

 
(5
)
 
514

 
(5
)
 
514

Federal agency and other mortgage-backed securities
(1
)
 
15

 
(70
)
 
17,392

 
(71
)
 
17,407

Collateralized loan obligations
—

 
—

 
—

 
—

 
—

 
—

Total held-to-maturity debt securities
(1
)
 
15

 
(79
)
 
19,519

 
(80
)
 
19,534

Total
$
(118
)
 
27,557

 
(535
)
 
67,760

 
(653
)
 
95,317

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
(1
)
 
498

 
(105
)
 
6,204

 
(106
)
 
6,702

Securities of U.S. states and political subdivisions
(73
)
 
9,746

 
(373
)
 
9,017

 
(446
)
 
18,763

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Federal agencies
(42
)
 
10,979

 
(3,098
)
 
112,252

 
(3,140
)
 
123,231

Residential
(3
)
 
398

 
(2
)
 
69

 
(5
)
 
467

Commercial
(20
)
 
1,972

 
(2
)
 
79

 
(22
)
 
2,051

Total mortgage-backed securities
(65
)
 
13,349

 
(3,102
)
 
112,400

 
(3,167
)
 
125,749

Corporate debt securities
(64
)
 
1,965

 
(26
)
 
298

 
(90
)
 
2,263

Collateralized loan and other debt obligations
(388
)
 
28,306

 
(8
)
 
553

 
(396
)
 
28,859

Other
(7
)
 
819

 
(6
)
 
159

 
(13
)
 
978

Total available-for-sale debt securities
(598
)
 
54,683

 
(3,620
)
 
128,631

 
(4,218
)
 
183,314

Held-to-maturity debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
(3
)
 
895

 
(412
)
 
41,083

 
(415
)
 
41,978

Securities of U.S. states and political subdivisions
(4
)
 
598

 
(112
)
 
3,992

 
(116
)
 
4,590

Federal agency and other mortgage-backed securities
(5
)
 
4,635

 
(2,283
)
 
77,741

 
(2,288
)
 
82,376

Collateralized loan obligations
—

 
—

 
—

 
—

 
—

 
—

Total held-to-maturity debt securities
(12
)
 
6,128

 
(2,807
)
 
122,816

 
(2,819
)
 
128,944

Total
$
(610
)
 
60,811

 
(6,427
)
 
251,447

 
(7,037
)
 
312,258



75

We have assessed each debt security with gross unrealized losses included in the previous table for credit impairment. As part of that assessment we evaluated and concluded that we do not intend to sell any of the debt securities and that it is more likely than not that we will not be required to sell prior to recovery of the amortized cost basis. We evaluate, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the debt securities’ amortized cost basis.
For descriptions of the factors we consider when analyzing debt securities for impairment, see Note 1 (Summary of Significant Accounting Policies) and Note 5 (Available-for-Sale and Held-to-Maturity Debt Securities) in our 2018 Form 10-K. There were no material changes to our methodologies for assessing impairment in the first half of 2019. 
Table 5.3 shows the gross unrealized losses and fair value of the available-for-sale and held-to-maturity debt securities by those rated investment grade and those rated less than investment grade, according to their lowest credit rating by Standard & Poor’s Rating Services (S&P) or Moody’s Investors
 
Service (Moody’s). Credit ratings express opinions about the credit quality of a debt security. Debt securities rated investment grade, that is those rated BBB- or higher by S&P or Baa3 or higher by Moody’s, are generally considered by the rating agencies and market participants to be low credit risk. Conversely, debt securities rated below investment grade, labeled as “speculative grade” by the rating agencies, are considered to be distinctively higher credit risk than investment grade debt securities. We have also included debt securities not rated by S&P or Moody’s in the table below based on our internal credit grade of the debt securities (used for credit risk management purposes) equivalent to the credit rating assigned by major credit agencies. The unrealized losses and fair value of unrated debt securities categorized as investment grade based on internal credit grades were $9 million and $2.3 billion, respectively, at June 30, 2019, and $20 million and $5.2 billion, respectively, at December 31, 2018. If an internal credit grade was not assigned, we categorized the debt security as non-investment grade. 
Table 5.3: Gross Unrealized Losses and Fair Value by Investment Grade
 
Investment grade
 
 
Non-investment grade
 
(in millions)
Gross
unrealized
losses

 
Fair
value

 
Gross
unrealized
losses

 
Fair
value

June 30, 2019
 
 
 
 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
(17
)
 
11,291

 
—

 
—

Securities of U.S. states and political subdivisions
(69
)
 
7,480

 
(9
)
 
219

Mortgage-backed securities:
 
 
 
 
 
 
 
Federal agencies
(308
)
 
33,382

 
—

 
—

Residential
(1
)
 
180

 
—

 
—

Commercial
(4
)
 
915

 
(1
)
 
11

Total mortgage-backed securities
(313
)
 
34,477

 
(1
)
 
11

Corporate debt securities
(6
)
 
299

 
(30
)
 
452

Collateralized loan and other debt obligations
(114
)
 
20,086

 
—

 
—

Other
(8
)
 
1,120

 
(6
)
 
348

Total available-for-sale debt securities
(527
)
 
74,753

 
(46
)
 
1,030

Held-to-maturity debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
(4
)
 
1,613

 
—

 
—

  Securities of U.S. states and political subdivisions
(5
)
 
514

 
—

 
—

Federal agency and other mortgage-backed securities
(70
)
 
17,374

 
(1
)
 
33

Collateralized loan obligations
—

 
—

 
—

 
—

Total held-to-maturity debt securities
(79
)
 
19,501

 
(1
)
 
33

Total
$
(606
)
 
94,254

 
(47
)
 
1,063

December 31, 2018
 
 

 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
(106
)
 
6,702

 
—

 
—

Securities of U.S. states and political subdivisions
(425
)
 
18,447

 
(21
)
 
316

Mortgage-backed securities:
 
 
 
 
 
 
 
Federal agencies
(3,140
)
 
123,231

 
—

 
—

Residential
(2
)
 
295

 
(3
)
 
172

Commercial
(20
)
 
1,999

 
(2
)
 
52

Total mortgage-backed securities
(3,162
)
 
125,525

 
(5
)
 
224

Corporate debt securities
(17
)
 
791

 
(73
)
 
1,472

Collateralized loan and other debt obligations
(396
)
 
28,859

 
—

 
—

Other
(7
)
 
726

 
(6
)
 
252

Total available-for-sale debt securities
(4,113
)
 
181,050

 
(105
)
 
2,264

Held-to-maturity debt securities:
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
(415
)
 
41,978

 
—

 
—

Securities of U.S. states and political subdivisions
(116
)
 
4,590

 
—

 
—

Federal agency and other mortgage-backed securities
(2,278
)
 
81,977

 
(10
)
 
399

Collateralized loan obligations
—

 
—

 
—

 
—

Total held-to-maturity debt securities
(2,809
)
 
128,545

 
(10
)
 
399

Total
$
(6,922
)
 
309,595

 
(115
)
 
2,663



76
Note 5: Available-for-Sale and Held-to-Maturity Debt Securities (continued)

Contractual Maturities
Table 5.4 shows the fair value and contractual weighted-average yields (taxable-equivalent basis) of available-for-sale debt securities by contractual maturity. The remaining contractual principal maturities for mortgage-backed securities (MBS) do not
 
consider prepayments. Remaining expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature. 
Table 5.4: Available-for Sale Debt Securities - Fair Value by Contractual Maturity
 
 
 
Remaining contractual maturity
 
 
Total

 
 
 
Within one year
 
 
After one year
through five years
 
 
After five years
through ten years
 
 
After ten years
 
(in millions)
amount

 
Yield

 
Amount

 
Yield

 
Amount

 
Yield

 
Amount

 
Yield

 
Amount

 
Yield

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale debt securities (1): 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
15,319

 
1.94
%
 
$
5,521

 
1.69
%
 
$
9,747

 
2.08
%
 
$
51

 
1.89
%
 
$
—

 
—
%
Securities of U.S. states and political subdivisions
45,095

 
4.92

 
2,016

 
3.34

 
5,135

 
3.34

 
4,322

 
3.54

 
33,622

 
5.40

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Federal agencies
155,858

 
3.50

 
—

 
—

 
137

 
3.48

 
1,665

 
2.56

 
154,056

 
3.51

Residential
1,263

 
2.80

 
—

 
—

 
—

 
—

 
—

 
—

 
1,263

 
2.80

Commercial
4,180

 
3.71

 
—

 
—

 
—

 
—

 
342

 
3.61

 
3,838

 
3.72

Total mortgage-backed securities
161,301

 
3.50

 
—

 
—

 
137

 
3.48

 
2,007

 
2.74

 
159,157

 
3.51

Corporate debt securities
6,230

 
5.01

 
484

 
6.17

 
2,384

 
5.00

 
2,737

 
4.69

 
625

 
5.59

Collateralized loan and other debt obligations
32,995

 
3.96

 
—

 
—

 
8

 
5.02

 
10,005

 
4.03

 
22,982

 
3.93

Other
5,043

 
3.10

 
12

 
3.34

 
749

 
3.80

 
1,424

 
2.13

 
2,858

 
3.40

Total available-for-sale debt securities at fair value
$
265,983

 
3.73
%
 
$
8,033

 
2.38
%
 
$
18,160

 
2.96
%
 
$
20,546

 
3.75
%
 
$
219,244

 
3.85
%
(1)
Weighted-average yields displayed by maturity bucket are weighted based on fair value and predominantly represent contractual coupon rates without effect for any related hedging derivatives.
Table 5.5 shows the amortized cost and weighted-average yields of held-to-maturity debt securities by contractual maturity.
Table 5.5: Held-to-Maturity Debt Securities - Amortized Cost by Contractual Maturity
 
 
 
Remaining contractual maturity
 
 
Total

 
 
 
Within one year
 
 
After one year
through five years
 
 
After five years
through ten years
 
 
After ten years
 
(in millions)
amount

 
Yield

 
Amount

 
Yield

 
Amount

 
Yield

 
Amount

 
Yield

 
Amount

 
Yield

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-maturity debt securities (1): 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortized cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
44,766

 
2.12
%
 
$
—

 
—
%
 
$
34,667

 
2.07
%
 
$
10,099

 
2.28
%
 
$
—

 
—
%
Securities of U.S. states and political subdivisions
7,948

 
4.97

 
—

 
—

 
75

 
6.05

 
1,570

 
4.89

 
6,303

 
4.98

Federal agency and other mortgage-backed securities
93,105

 
3.12

 
—

 
—

 
15

 
3.77

 
—

 
—

 
93,090

 
3.12

Collateralized loan obligations
57

 
3.78

 
—

 
—

 
—

 
—

 
57

 
3.78

 
—

 
—

Total held-to-maturity debt securities at amortized cost
$
145,876

 
2.91
%
 
$
—

 
—
%
 
$
34,757

 
2.08
%
 
$
11,726

 
2.64
%
 
$
99,393

 
3.24
%
(1)
Weighted-average yields displayed by maturity bucket are weighted based on amortized cost and predominantly represent contractual coupon rates.

Table 5.6 shows the fair value of held-to-maturity debt securities by contractual maturity.
 

Table 5.6: Held-to-Maturity Debt Securities - Fair Value by Contractual Maturity
 
 
 
Remaining contractual maturity
 
 
Total

 
Within one year

 
After one year
through five years

 
After five years
through ten years

 
After ten years

(in millions)
amount

 
Amount

 
Amount

 
Amount

 
Amount

June 30, 2019
 
 
 
 
 
 
 
 
 
Held-to-maturity debt securities:
 
 
 
 
 
 
 
 
 
Fair value:
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
45,336

 
—

 
34,962

 
10,374

 
—

Securities of U.S. states and political subdivisions
8,125

 
—

 
75

 
1,625

 
6,425

Federal agency and other mortgage-backed securities
94,346

 
—

 
15

 
—

 
94,331

Collateralized loan obligations
57

 
—

 
—

 
57

 
—

Total held-to-maturity debt securities at fair value
$
147,864

 
—

 
35,052

 
12,056

 
100,756



77

Realized Gains and Losses
Table 5.7 shows the gross realized gains and losses on sales and OTTI write-downs related to available-for-sale debt securities.
Table 5.7: Realized Gains and Losses
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Gross realized gains
$
29

 
53

 
202

 
74

Gross realized losses
(2
)
 
(4
)
 
(5
)
 
(14
)
OTTI write-downs
(7
)
 
(8
)
 
(52
)
 
(18
)
Net realized gains from available-for-sale debt securities
$
20

 
41

 
145

 
42



Other-Than-Temporarily Impaired Debt Securities
Table 5.8 shows the detail of total OTTI write-downs included in earnings for available-for-sale debt securities. There were no
 
OTTI write-downs on held-to-maturity debt securities during the first half of 2019 and 2018.
Table 5.8: Detail of OTTI Write-downs
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Debt securities OTTI write-downs included in earnings:
 
 
 
 
 
 
 
Securities of U.S. states and political subdivisions
$
4

 
—

 
33

 
2

Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
—

 
1

 
—

 
2

Commercial
3

 
7

 
17

 
14

Corporate debt securities
—

 
—

 
2

 
—

Total debt securities OTTI write-downs included in earnings
$
7

 
8

 
52

 
18



Table 5.9 shows the detail of OTTI write-downs on available-for-sale debt securities included in earnings and the related changes in OCI for the same securities.
Table 5.9: OTTI Write-downs Included in Earnings and the Related Changes in OCI
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

OTTI on debt securities
 
 
 
 
 
 
 
Recorded as part of gross realized losses:
 
 
 
 
 
 
 
Credit-related OTTI
$
7

 
8

 
23

 
17

Intent-to-sell OTTI
—

 
—

 
29

 
1

Total recorded as part of gross realized losses
7

 
8

 
52

 
18

Changes to OCI for losses (reversal of losses) in non-credit-related OTTI (1):
 
 
 
 
 
 
 
Securities of U.S. states and political subdivisions
(1
)
 
—

 
(1
)
 
(2
)
Residential mortgage-backed securities
—

 
—

 
(1
)
 
(1
)
Commercial mortgage-backed securities
—

 
(11
)
 
1

 
(1
)
Total changes to OCI for non-credit-related OTTI
(1
)
 
(11
)
 
(1
)
 
(4
)
Total OTTI losses recorded on debt securities
$
6

 
(3
)
 
51

 
14

(1)
Represents amounts recorded to OCI for impairment of debt securities, due to factors other than credit, that have also had credit-related OTTI write-downs during the period. Increases represent initial or subsequent non-credit-related OTTI on debt securities. Decreases represent partial to full reversal of impairment due to recoveries in the fair value of debt securities due to non-credit factors.

78
Note 5: Available-for-Sale and Held-to-Maturity Debt Securities (continued)

Table 5.10 presents a rollforward of the OTTI credit loss that has been recognized in earnings as a write-down of available-for-sale debt securities we still own (referred to as “credit-impaired” debt securities) and do not intend to sell. Recognized credit loss represents the difference between the present value of expected
 
future cash flows discounted using the security’s current effective interest rate and the amortized cost basis of the security prior to considering credit loss.
Table 5.10: Rollforward of OTTI Credit Loss
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Credit loss recognized, beginning of period
$
232

 
649

 
562

 
742

Additions:
 
 
 
 
 
 
 
For securities with initial credit impairments
4

 
—

 
6

 
—

For securities with previous credit impairments
3

 
8

 
17

 
17

Total additions
7

 
8

 
23

 
17

Reductions:
 
 
 
 
 
 
 
For securities sold, matured, or intended/required to be sold
(23
)
 
(30
)
 
(369
)
 
(131
)
For recoveries of previous credit impairments (1)
—

 
(1
)
 
—

 
(2
)
Total reductions
(23
)
 
(31
)
 
(369
)
 
(133
)
Credit loss recognized, end of period
$
216

 
626

 
216

 
626

(1)
Recoveries of previous credit impairments result from increases in expected cash flows subsequent to credit loss recognition. Such recoveries are reflected prospectively as interest yield adjustments using the effective interest method.

79

Note 6: Loans and Allowance for Credit Losses 
Table 6.1 presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include unearned income, net deferred loan fees or costs, and
 
unamortized discounts and premiums. These amounts were less than 1% of our total loans outstanding at June 30, 2019 and December 31, 2018.
Table 6.1: Loans Outstanding
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Commercial:
 
 
 
Commercial and industrial
$
348,846

 
350,199

Real estate mortgage
123,008

 
121,014

Real estate construction
21,067

 
22,496

Lease financing
19,324

 
19,696

Total commercial
512,245

 
513,405

Consumer:
 
 
 
Real estate 1-4 family first mortgage
286,427

 
285,065

Real estate 1-4 family junior lien mortgage
32,068

 
34,398

Credit card
38,820

 
39,025

Automobile
45,664

 
45,069

Other revolving credit and installment
34,654

 
36,148

Total consumer
437,633

 
439,705

Total loans
$
949,878

 
953,110

Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary
 
address is outside of the United States. Table 6.2 presents total commercial foreign loans outstanding by class of financing receivable.
Table 6.2: Commercial Foreign Loans Outstanding
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Commercial foreign loans:
 
 
 
Commercial and industrial
$
63,296

 
62,564

Real estate mortgage
6,801

 
6,731

Real estate construction
1,287

 
1,011

Lease financing
1,215

 
1,159

Total commercial foreign loans
$
72,599

 
71,465




80
Note 6: Loans and Allowance for Credit Losses (continued)

Loan Purchases, Sales, and Transfers
Table 6.3 summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity also includes participating interests, whereby we receive or transfer a portion of a loan. The table excludes PCI
 
loans, loans for which we have elected the fair value option, and government insured/ guaranteed real estate 1-4 family first mortgage loans because their loan activity normally does not impact the allowance for credit losses. 

Table 6.3: Loan Purchases, Sales, and Transfers
 
2019
 
 
2018
 
(in millions)
Commercial

 
Consumer

 
Total

 
Commercial

 
Consumer

 
Total

Quarter ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Purchases
$
670

 
5

 
675

 
398

 
7

 
405

Sales
(535
)
 
(153
)
 
(688
)
 
(294
)
 
(88
)
 
(382
)
Transfers (to) from MLHFS/LHFS
(89
)
 
(1,852
)
 
(1,941
)
 
(100
)
 
(72
)
 
(172
)
Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Purchases
$
999

 
8

 
1,007

 
654

 
7

 
661

Sales
(956
)
 
(332
)
 
(1,288
)
 
(754
)
 
(88
)
 
(842
)
Transfers (to) from MLHFS/LHFS
(92
)
 
(1,852
)
 
(1,944
)
 
(520
)
 
(1,625
)
 
(2,145
)

Commitments to Lend
A commitment to lend is a legally binding agreement to lend funds to a customer, usually at a stated interest rate, if funded, and for specific purposes and time periods. We generally require a fee to extend such commitments. Certain commitments are subject to loan agreements with covenants regarding the financial performance of the customer or borrowing base formulas on an ongoing basis that must be met before we are required to fund the commitment. We may reduce or cancel consumer commitments, including home equity lines and credit card lines, in accordance with the contracts and applicable law.
We may, as a representative for other lenders, advance funds or provide for the issuance of letters of credit under syndicated loan or letter of credit agreements. Any advances are generally repaid in less than a week and would normally require default of both the customer and another lender to expose us to loss. The unfunded amount of these temporary advance arrangements totaled approximately $94 billion and $91 billion at June 30, 2019 and December 31, 2018, respectively.
We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At June 30, 2019, and December 31, 2018, we had $1.0 billion and $919 million, respectively, of outstanding issued commercial letters of credit. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility for different purposes in one of several forms, including a standby letter of credit. See Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments) for additional information on standby letters of credit. 
When we make commitments, we are exposed to credit risk. The maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments is expected to expire without being used by the customer. In addition, we manage the potential risk in commitments to lend by limiting the total amount of commitments, both by individual customer and in total, by monitoring the size and maturity structure of these commitments and by applying the same credit standards for these commitments as for all of our credit activities.
 
For loans and commitments to lend, we generally require collateral or a guarantee. We may require various types of collateral, including commercial and consumer real estate, automobiles, other short-term liquid assets such as accounts receivable or inventory and long-lived assets, such as equipment and other business assets. Collateral requirements for each loan or commitment may vary based on the loan product and our assessment of a customer’s credit risk according to the specific credit underwriting, including credit terms and structure.
The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in Table 6.4. The table excludes the issued standby and commercial letters of credit and temporary advance arrangements described above.
Table 6.4: Unfunded Credit Commitments
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Commercial:
 
 
 
Commercial and industrial
$
329,751

 
330,492

Real estate mortgage
7,905

 
6,984

Real estate construction
15,459

 
16,400

Total commercial
353,115

 
353,876

Consumer:
 
 
 
Real estate 1-4 family first mortgage
43,427

 
29,736

Real estate 1-4 family
junior lien mortgage
37,454

 
37,719

Credit card
113,306

 
109,840

Other revolving credit and installment
26,676

 
27,530

Total consumer
220,863

 
204,825

Total unfunded credit commitments
$
573,978

 
558,701



81

Allowance for Credit Losses
Table 6.5 presents the allowance for credit losses, which consists of the allowance for loan losses and the allowance for unfunded credit commitments.
Table 6.5: Allowance for Credit Losses
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Balance, beginning of period
$
10,821

 
11,313

 
10,707

 
11,960

Provision for credit losses
503

 
452

 
1,348

 
643

Interest income on certain impaired loans (1)
(39
)
 
(43
)
 
(78
)
 
(86
)
Loan charge-offs:
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
Commercial and industrial
(205
)
 
(134
)
 
(381
)
 
(298
)
Real estate mortgage
(14
)
 
(19
)
 
(26
)
 
(21
)
Real estate construction
—

 
—

 
(1
)
 
—

Lease financing
(12
)
 
(20
)
 
(23
)
 
(37
)
Total commercial
(231
)
 
(173
)
 
(431
)
 
(356
)
Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
(27
)
 
(55
)
 
(70
)
 
(96
)
Real estate 1-4 family junior lien mortgage
(29
)
 
(47
)
 
(63
)
 
(94
)
Credit card
(437
)
 
(404
)
 
(874
)
 
(809
)
Automobile
(142
)
 
(216
)
 
(329
)
 
(516
)
Other revolving credit and installment
(167
)
 
(164
)
 
(329
)
 
(344
)
Total consumer
(802
)
 
(886
)
 
(1,665
)
 
(1,859
)
Total loan charge-offs
(1,033
)
 
(1,059
)
 
(2,096
)
 
(2,215
)
Loan recoveries:
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
Commercial and industrial
46

 
76

 
89

 
155

Real estate mortgage
10

 
19

 
16

 
36

Real estate construction
2

 
6

 
5

 
10

Lease financing
8

 
5

 
11

 
10

Total commercial
66

 
106

 
121

 
211

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
57

 
78

 
112

 
137

Real estate 1-4 family junior lien mortgage
48

 
60

 
91

 
115

Credit card
88

 
81

 
173

 
154

Automobile
90

 
103

 
186

 
195

Other revolving credit and installment
31

 
29

 
65

 
60

Total consumer
314

 
351

 
627

 
661

Total loan recoveries
380

 
457

 
748

 
872

Net loan charge-offs
(653
)
 
(602
)
 
(1,348
)
 
(1,343
)
Other
(29
)
 
(10
)
 
(26
)
 
(64
)
Balance, end of period
$
10,603

 
11,110

 
10,603

 
11,110

Components:
 
 
 
 
 
 
 
Allowance for loan losses
$
9,692

 
10,193

 
9,692

 
10,193

Allowance for unfunded credit commitments
911

 
917

 
911

 
917

Allowance for credit losses
$
10,603

 
11,110

 
10,603

 
11,110

Net loan charge-offs (annualized) as a percentage of average total loans
0.28
%
 
0.26

 
0.29

 
0.29

Allowance for loan losses as a percentage of total loans
1.02

 
1.08

 
1.02

 
1.08

Allowance for credit losses as a percentage of total loans
1.12

 
1.18

 
1.12

 
1.18

(1)
Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize changes in allowance attributable to the passage of time as interest income.


82
Note 6: Loans and Allowance for Credit Losses (continued)

Table 6.6 summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments.
Table 6.6: Allowance Activity by Portfolio Segment
 
 
 
 
 
2019

 
 
 
 
 
2018

(in millions)
Commercial

 
Consumer

 
Total

 
Commercial

 
Consumer

 
Total

Quarter ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
6,428

 
4,393

 
10,821

 
6,708

 
4,605

 
11,313

Provision for credit losses
46

 
457

 
503

 
89

 
363

 
452

Interest income on certain impaired loans
(14
)
 
(25
)
 
(39
)
 
(14
)
 
(29
)
 
(43
)
 
 
 
 
 
 
 
 
 
 
 
 
Loan charge-offs
(231
)
 
(802
)
 
(1,033
)
 
(173
)
 
(886
)
 
(1,059
)
Loan recoveries
66

 
314

 
380

 
106

 
351

 
457

Net loan charge-offs
(165
)
 
(488
)
 
(653
)
 
(67
)
 
(535
)
 
(602
)
Other
3

 
(32
)
 
(29
)
 
(5
)
 
(5
)
 
(10
)
Balance, end of period
$
6,298

 
4,305

 
10,603

 
6,711

 
4,399

 
11,110

 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
6,417

 
4,290

 
10,707

 
6,632

 
5,328

 
11,960

Provision for credit losses
210

 
1,138

 
1,348

 
258

 
385

 
643

Interest income on certain impaired loans
(25
)
 
(53
)
 
(78
)
 
(25
)
 
(61
)
 
(86
)
 
 
 
 
 
 
 
 
 
 
 
 
Loan charge-offs
(431
)
 
(1,665
)
 
(2,096
)
 
(356
)
 
(1,859
)
 
(2,215
)
Loan recoveries
121

 
627

 
748

 
211

 
661

 
872

Net loan charge-offs
(310
)
 
(1,038
)
 
(1,348
)
 
(145
)
 
(1,198
)
 
(1,343
)
Other
6

 
(32
)
 
(26
)
 
(9
)
 
(55
)
 
(64
)
Balance, end of period
$
6,298

 
4,305

 
10,603

 
6,711

 
4,399

 
11,110



Table 6.7 disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology.
Table 6.7: Allowance by Impairment Methodology
 
Allowance for credit losses
 
 
Recorded investment in loans
 
(in millions)
Commercial

 
Consumer

 
Total

 
Commercial

 
Consumer

 
Total

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated (1)
$
5,831

 
3,436

 
9,267

 
508,798

 
425,818

 
934,616

Individually evaluated (2)
467

 
869

 
1,336

 
3,447

 
10,641

 
14,088

PCI (3)
—

 
—

 
—

 
—

 
1,174

 
1,174

Total
$
6,298

 
4,305

 
10,603

 
512,245

 
437,633

 
949,878

December 31, 2018
 
Collectively evaluated (1)
$
5,903

 
3,361

 
9,264

 
510,180

 
421,574

 
931,754

Individually evaluated (2)
514

 
929

 
1,443

 
3,221

 
13,126

 
16,347

PCI (3)
—

 
—

 
—

 
4

 
5,005

 
5,009

Total
$
6,417

 
4,290

 
10,707

 
513,405

 
439,705

 
953,110

(1)
Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies, and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans.
(2)
Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables, and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans.
(3)
Represents the allowance and related loan carrying value determined in accordance with ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans.

Credit Quality
We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the allowance for credit losses. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date, with the exception of updated Fair Isaac Corporation (FICO) scores and updated loan-to-value (LTV)/combined LTV (CLTV). We obtain FICO scores at loan
 
origination and the scores are generally updated at least quarterly, except in limited circumstances, including compliance with the Fair Credit Reporting Act (FCRA). Generally, the LTV and CLTV indicators are updated in the second month of each quarter, with updates no older than March 31, 2019.


83

COMMERCIAL CREDIT QUALITY INDICATORS  In addition to monitoring commercial loan concentration risk, we manage a consistent process for assessing commercial loan credit quality. Generally, commercial loans are subject to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to Pass and Criticized categories. The Criticized category includes Special Mention, Substandard, and Doubtful categories which are defined by bank regulatory
 
agencies.
Table 6.8 provides a breakdown of outstanding commercial loans by risk category. Criticized commercial loans at June 30, 2019, included $2.5 billion on nonaccrual status that have been written down to net realizable value. For additional information on nonaccrual loans, see Table 6.13.

Table 6.8: Commercial Loans by Risk Category
(in millions)
Commercial
and
industrial

 
Real
estate
mortgage

 
Real
estate
construction

 
Lease
financing

 
Total

June 30, 2019
 
 
 
 
 
 
 
 
 
By risk category:
 
 
 
 
 
 
 
 
 
Pass
$
334,034

 
118,768

 
20,883

 
18,225

 
491,910

Criticized
14,812

 
4,240

 
184

 
1,099

 
20,335

Total commercial loans (excluding PCI)
348,846

 
123,008

 
21,067

 
19,324

 
512,245

Total commercial PCI loans (carrying value)
—

 
—

 
—

 
—

 
—

Total commercial loans
$
348,846

 
123,008

 
21,067

 
19,324

 
512,245

December 31, 2018
 
 
 
 
 
 
 
 
 
By risk category:
 
 
 
 
 
 
 
 
 
Pass
$
335,412

 
116,514

 
22,207

 
18,671

 
492,804

Criticized
14,783

 
4,500

 
289

 
1,025

 
20,597

Total commercial loans (excluding PCI)
350,195

 
121,014

 
22,496

 
19,696

 
513,401

Total commercial PCI loans (carrying value)
4

 
—

 
—

 
—

 
4

Total commercial loans
$
350,199

 
121,014

 
22,496

 
19,696

 
513,405



Table 6.9 provides past due information for commercial loans, which we monitor as part of our credit risk management practices.
Table 6.9: Commercial Loans by Delinquency Status
(in millions)
Commercial
and
industrial

 
Real
estate
mortgage

 
Real
estate
construction

 
Lease
financing

 
Total

June 30, 2019
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
Current-29 days past due (DPD) and still accruing
$
346,688

 
122,101

 
20,854

 
19,101

 
508,744

30-89 DPD and still accruing
507

 
146

 
177

 
160

 
990

90+ DPD and still accruing
17

 
24

 
—

 
—

 
41

Nonaccrual loans
1,634

 
737

 
36

 
63

 
2,470

Total commercial loans (excluding PCI)
348,846

 
123,008

 
21,067

 
19,324

 
512,245

Total commercial PCI loans (carrying value)
—

 
—

 
—

 
—

 
—

Total commercial loans
$
348,846

 
123,008

 
21,067

 
19,324

 
512,245

December 31, 2018
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
Current-29 DPD and still accruing
$
348,158

 
120,176

 
22,411

 
19,443

 
510,188

30-89 DPD and still accruing
508

 
207

 
53

 
163

 
931

90+ DPD and still accruing
43

 
51

 
—

 
—

 
94

Nonaccrual loans
1,486

 
580

 
32

 
90

 
2,188

Total commercial loans (excluding PCI)
350,195

 
121,014

 
22,496

 
19,696

 
513,401

Total commercial PCI loans (carrying value)
4

 
—

 
—

 
—

 
4

Total commercial loans
$
350,199

 
121,014

 
22,496

 
19,696

 
513,405




84
Note 6: Loans and Allowance for Credit Losses (continued)

CONSUMER CREDIT QUALITY INDICATORS  We have various classes of consumer loans that present unique risks. Loan delinquency, FICO credit scores and LTV for loan types are common credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the allowance for credit losses for the consumer portfolio segment.
 
Many of our loss estimation techniques used for the allowance for credit losses rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality and the establishment of our allowance for credit losses. Table 6.10 provides the outstanding balances of our consumer portfolio by delinquency status.
Table 6.10: Consumer Loans by Delinquency Status
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Credit
card

 
Automobile

 
Other
revolving
credit and
installment

 
Total

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
 
 
Current-29 DPD
271,144

 
31,374

 
37,925

 
44,554

 
34,383

 
419,380

30-59 DPD
1,311

 
250

 
258

 
808

 
97

 
2,724

60-89 DPD
436

 
115

 
188

 
232

 
70

 
1,041

90-119 DPD
196

 
63

 
152

 
69

 
68

 
548

120-179 DPD
177

 
70

 
297

 
1

 
22

 
567

180+ DPD
630

 
181

 
—

 
—

 
14

 
825

Government insured/guaranteed loans (1)
11,172

 
—

 
—

 
—

 
—

 
11,172

Loans held at fair value
202

 
—

 
—

 
—

 
—

 
202

Total consumer loans (excluding PCI)
285,268

 
32,053

 
38,820

 
45,664

 
34,654

 
436,459

Total consumer PCI loans (carrying value) (2)
1,159

 
15

 
—

 
—

 
—

 
1,174

Total consumer loans
286,427

 
32,068

 
38,820

 
45,664

 
34,654

 
437,633

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
 
 
Current-29 DPD
263,881

 
33,644

 
38,008

 
43,604

 
35,794

 
414,931

30-59 DPD
1,411

 
247

 
292

 
1,040

 
140

 
3,130

60-89 DPD
549

 
126

 
212

 
314

 
87

 
1,288

90-119 DPD
257

 
74

 
192

 
109

 
80

 
712

120-179 DPD
225

 
77

 
320

 
2

 
27

 
651

180+ DPD
822

 
213

 
1

 
—

 
20

 
1,056

Government insured/guaranteed loans (1)
12,688

 
—

 
—

 
—

 
—

 
12,688

Loans held at fair value
244

 
—

 
—

 
—

 
—

 
244

Total consumer loans (excluding PCI)
280,077

 
34,381

 
39,025

 
45,069

 
36,148

 
434,700

Total consumer PCI loans (carrying value) (2)
4,988

 
17

 
—

 
—

 
—

 
5,005

Total consumer loans
285,065

 
34,398

 
39,025

 
45,069

 
36,148

 
439,705

(1)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $6.5 billion at June 30, 2019, compared with $7.7 billion at December 31, 2018.
(2)
23% of the adjusted unpaid principal balance for consumer PCI loans are 30+ DPD at June 30, 2019, compared with 18% at December 31, 2018.

Of the $1.9 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at June 30, 2019, $739 million was accruing, compared with $2.4 billion past due and $885 million accruing at December 31, 2018.
Real estate 1-4 family first mortgage loans 180 days or more past due totaled $630 million, or 0.2% of total first mortgages (excluding PCI), at June 30, 2019, compared with $822 million, or 0.3%, at December 31, 2018.

85

Table 6.11 provides a breakdown of our consumer portfolio by FICO. Substantially all of the scored consumer portfolio has an updated FICO of 680 and above, reflecting a strong current borrower credit profile. FICO is not available for certain loan types, or may not be required if we deem it unnecessary due to
 
strong collateral and other borrower attributes. Substantially all loans not requiring a FICO score are securities-based loans originated through retail brokerage, and totaled $8.6 billion at June 30, 2019, and $8.9 billion at December 31, 2018.
Table 6.11: Consumer Loans by FICO
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Credit
card

 
Automobile

 
Other
revolving
credit and
installment

 
Total

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
By FICO:
 
 
 
 
 
 
 
 
 
 
 
< 600
3,539

 
1,297

 
3,064

 
6,442

 
707

 
15,049

600-639
2,559

 
897

 
2,670

 
4,498

 
677

 
11,301

640-679
5,276

 
1,720

 
6,313

 
6,386

 
1,757

 
21,452

680-719
12,898

 
3,620

 
9,415

 
7,475

 
3,283

 
36,691

720-759
27,807

 
4,947

 
8,022

 
7,051

 
4,164

 
51,991

760-799
61,007

 
6,001

 
5,323

 
6,240

 
4,999

 
83,570

800+
157,049

 
12,346

 
3,879

 
7,464

 
8,011

 
188,749

No FICO available
3,759

 
1,225

 
134

 
108

 
2,434

 
7,660

FICO not required
—

 
—

 
—

 
—

 
8,622

 
8,622

Government insured/guaranteed loans (1)
11,374

 
—

 
—

 
—

 
—

 
11,374

Total consumer loans (excluding PCI)
285,268

 
32,053

 
38,820

 
45,664

 
34,654

 
436,459

Total consumer PCI loans (carrying value) (2)
1,159

 
15

 
—

 
—

 
—

 
1,174

Total consumer loans
286,427

 
32,068

 
38,820

 
45,664

 
34,654

 
437,633

December 31, 2018
 
 
 
 
 
 
 
 
 
 


By FICO:
 
 
 
 
 
 
 
 
 
 

< 600
4,273

 
1,454

 
3,292

 
7,071

 
697

 
16,787

600-639
2,974

 
994

 
2,777

 
4,431

 
725

 
11,901

640-679
5,810

 
1,898

 
6,464

 
6,225

 
1,822

 
22,219

680-719
13,568

 
3,908

 
9,445

 
7,354

 
3,384

 
37,659

720-759
27,258

 
5,323

 
7,949

 
6,853

 
4,395

 
51,778

760-799
57,193

 
6,315

 
5,227

 
5,947

 
5,322

 
80,004

800+
151,465

 
13,190

 
3,794

 
7,099

 
8,411

 
183,959

No FICO available
4,604

 
1,299

 
77

 
89

 
2,507

 
8,576

FICO not required
—

 
—

 
—

 
—

 
8,885

 
8,885

Government insured/guaranteed loans (1)
12,932

 
—

 
—

 
—

 
—

 
12,932

Total consumer loans (excluding PCI)
280,077

 
34,381

 
39,025

 
45,069

 
36,148

 
434,700

Total consumer PCI loans (carrying value) (2)
4,988

 
17

 
—

 
—

 
—

 
5,005

Total consumer loans
285,065

 
34,398

 
39,025

 
45,069

 
36,148

 
439,705

(1)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.
(2)
44% of the adjusted unpaid principal balance for consumer PCI loans have FICO scores less than 680 and 16% where no FICO is available to us at June 30, 2019, compared with 45% and 15%, respectively, at December 31, 2018.
 
LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. CLTV refers to the combination of first mortgage and junior lien mortgage (including unused line amounts for credit line products) ratios. LTVs and CLTVs are updated quarterly using a cascade approach which first uses values provided by automated valuation models (AVMs) for the property. If an AVM is not available, then the value is estimated using the original appraised value adjusted by the change in Home Price Index (HPI) for the property location. If an HPI is not available, the original appraised value is used. The HPI value is normally the only method considered for high value properties, generally with an original value of $1 million or more, as the AVM values have proven less accurate for these properties.
 
Table 6.12 shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV due to industry data availability and portfolios acquired from or serviced by other institutions.

86
Note 6: Loans and Allowance for Credit Losses (continued)

Table 6.12: Consumer Loans by LTV/CLTV
  
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Real estate
1-4 family
first
mortgage
by LTV

 
Real estate
1-4 family
junior lien
mortgage
by CLTV

 
Total

 
Real estate
1-4 family
first
mortgage
by LTV

 
Real estate
1-4 family
junior lien
mortgage
by CLTV

 
Total

By LTV/CLTV:
 
 
 
 
 
 
 
 
 
 
 
0-60%
$
145,884

 
15,004

 
160,888

 
147,666

 
15,753

 
163,419

60.01-80%
110,919

 
10,452

 
121,371

 
104,477

 
11,183

 
115,660

80.01-100%
14,763

 
4,387

 
19,150

 
12,372

 
4,874

 
17,246

100.01-120% (1)
1,052

 
1,350

 
2,402

 
1,211

 
1,596

 
2,807

> 120% (1)
412

 
480

 
892

 
484

 
578

 
1,062

No LTV/CLTV available
864

 
380

 
1,244

 
935

 
397

 
1,332

Government insured/guaranteed loans (2)
11,374

 
—

 
11,374

 
12,932

 
—

 
12,932

Total consumer loans (excluding PCI)
285,268

 
32,053

 
317,321

 
280,077

 
34,381

 
314,458

Total consumer PCI loans (carrying value) (3)
1,159

 
15

 
1,174

 
4,988

 
17

 
5,005

Total consumer loans
$
286,427

 
32,068

 
318,495

 
285,065

 
34,398

 
319,463

(1)
Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.
(2)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.
(3)
12% of the adjusted unpaid principal balance for consumer PCI loans have LTV/CLTV amounts greater than 80% at June 30, 2019, compared with 10% at December 31, 2018.
 
NONACCRUAL LOANS  Table 6.13 provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms.
Table 6.13: Nonaccrual Loans
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Commercial:
 
 
 
Commercial and industrial
$
1,634

 
1,486

Real estate mortgage
737

 
580

Real estate construction
36

 
32

Lease financing
63

 
90

Total commercial
2,470

 
2,188

Consumer:
 
 
 
Real estate 1-4 family first mortgage
2,425

 
3,183

Real estate 1-4 family junior lien mortgage
868

 
945

Automobile
115

 
130

Other revolving credit and installment
44

 
50

Total consumer
3,452

 
4,308

Total nonaccrual loans
(excluding PCI)
$
5,922

 
6,496


 
 
LOANS IN PROCESS OF FORECLOSURE  Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $3.7 billion and $4.6 billion at June 30, 2019, and December 31, 2018, respectively, which included $2.9 billion and $3.2 billion, respectively, of loans that are government insured/guaranteed. Under the Consumer Financial Protection Bureau guidelines, we do not commence the foreclosure process on consumer real estate loans until after the loan is 120 days delinquent. Foreclosure procedures and timelines vary depending on whether the property address resides in a judicial or non-judicial state. Judicial states require the foreclosure to be processed through the state’s courts while non-judicial states are processed without court intervention. Foreclosure timelines vary according to state law.


87

LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING  Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $156 million at June 30, 2019, and $370 million at December 31, 2018, are not included in past due and still accruing loans even when they are 90 days or more contractually past due. PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms.
Table 6.14 shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed.
Table 6.14: Loans 90 Days or More Past Due and Still Accruing (1)
(in millions)
Jun 30, 2019

 
Dec 31, 2018

Total (excluding PCI):
$
7,258

 
8,704

Less: FHA insured/VA guaranteed (1)
6,478

 
7,725

Total, not government insured/guaranteed
$
780

 
979

By segment and class, not government insured/guaranteed:
 
 
 
Commercial:
 
 
 
Commercial and industrial
$
17

 
43

Real estate mortgage
24

 
51

Real estate construction
—

 
—

Total commercial
41

 
94

 Consumer:
 
 
 
Real estate 1-4 family first mortgage
108

 
124

Real estate 1-4 family junior lien mortgage
27

 
32

Credit card
449

 
513

Automobile
63

 
114

Other revolving credit and installment
92

 
102

Total consumer
739

 
885

Total, not government insured/guaranteed
$
780

 
979

(1)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.



88
Note 6: Loans and Allowance for Credit Losses (continued)

IMPAIRED LOANS Table 6.15 summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain
 
loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. Table 6.15 includes trial modifications that totaled $127 million at June 30, 2019, and $149 million at December 31, 2018.
For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K.
Table 6.15: Impaired Loans Summary
 
 
 
Recorded investment
 
 
 
(in millions)
Unpaid
principal
balance (1)

 
Impaired
loans

 
Impaired loans
with related
allowance for
credit losses

 
Related
allowance for
credit losses

June 30, 2019
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
Commercial and industrial
$
2,963

 
2,169

 
1,991

 
303

Real estate mortgage
1,297

 
1,142

 
1,078

 
134

Real estate construction
82

 
54

 
53

 
10

Lease financing
91

 
82

 
82

 
20

Total commercial
4,433

 
3,447

 
3,204

 
467

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage (2)
8,803

 
8,307

 
3,782

 
451

Real estate 1-4 family junior lien mortgage
1,781

 
1,603

 
1,040

 
174

Credit card
487

 
486

 
486

 
194

Automobile
144

 
85

 
45

 
9

Other revolving credit and installment
166

 
160

 
142

 
41

Total consumer (3)
11,381

 
10,641

 
5,495

 
869

Total impaired loans (excluding PCI)
$
15,814

 
14,088

 
8,699

 
1,336

December 31, 2018
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
Commercial and industrial
$
3,057

 
2,030

 
1,730

 
319

Real estate mortgage
1,228

 
1,032

 
1,009

 
154

Real estate construction
74

 
47

 
46

 
9

Lease financing
146

 
112

 
112

 
32

Total commercial
4,505

 
3,221

 
2,897

 
514

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
12,309

 
10,738

 
4,420

 
525

Real estate 1-4 family junior lien mortgage
1,886

 
1,694

 
1,133

 
183

Credit card
449

 
449

 
449

 
172

Automobile
153

 
89

 
43

 
8

Other revolving credit and installment
162

 
156

 
136

 
41

Total consumer (3)
14,959

 
13,126

 
6,181

 
929

Total impaired loans (excluding PCI)
$
19,464

 
16,347

 
9,078

 
1,443

(1)
Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment.
(2)
Impaired loans includes reduction of $1.7 billion reclassified to MLHFS.
(3)
Includes the recorded investment of $1.2 billion at June 30, 2019, and $1.3 billion at December 31, 2018, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Impaired loans may also have limited, if any, allowance when the recorded investment of the loan approximates estimated net realizable value as a result of charge-offs prior to a TDR modification.

89

Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $478 million and $513 million at June 30, 2019 and December 31, 2018, respectively.
 
Table 6.16 provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class.
Table 6.16: Average Recorded Investment in Impaired Loans
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
 
2019
 
 
2018
 
 
2019
 
 
2018
 
(in millions)
Average
recorded
investment

 
Recognized
interest
income

 
Average
recorded
investment

 
Recognized
interest
income

 
Average
recorded
investment

 
Recognized
interest
income

 
Average
recorded
investment

 
Recognized
interest
income

Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
2,285

 
50

 
2,212

 
43

 
2,249

 
73

 
2,318

 
79

Real estate mortgage
1,116

 
16

 
1,299

 
22

 
1,079

 
31

 
1,266

 
50

Real estate construction
55

 
—

 
62

 
1

 
53

 
2

 
60

 
2

Lease financing
88

 
—

 
138

 
1

 
98

 
—

 
132

 
1

Total commercial
3,544

 
66

 
3,711

 
67

 
3,479

 
106

 
3,776

 
132

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
9,398

 
128

 
11,772

 
167

 
9,950

 
281

 
11,921

 
339

Real estate 1-4 family junior lien mortgage
1,630

 
26

 
1,832

 
29

 
1,654

 
52

 
1,861

 
58

Credit card
480

 
16

 
398

 
12

 
470

 
31

 
384

 
22

Automobile
86

 
3

 
82

 
3

 
87

 
7

 
83

 
6

Other revolving credit and installment
158

 
3

 
140

 
3

 
157

 
7

 
136

 
5

Total consumer
11,752

 
176

 
14,224

 
214

 
12,318

 
378

 
14,385

 
430

Total impaired loans (excluding PCI)
$
15,296

 
242

 
17,935

 
281

 
15,797

 
484

 
18,161

 
562

Interest income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash basis of accounting
 
 
$
76

 
 
 
84

 
 
 
135

 
 
 
165

Other (1)
 
 
166

 
 
 
197

 
 
 
349

 
 
 
397

Total interest income
 
 
$
242

 
 
 
281

 
 
 
484

 
 
 
562

(1)
Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans.


TROUBLED DEBT RESTRUCTURINGS (TDRs)  When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR, the balance of which totaled $12.6 billion and $15.5 billion at June 30, 2019 and December 31, 2018, respectively. We do not consider loan resolutions such as foreclosure or short sale to be a TDR.
 
We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency status and accrue interest according to their original terms.

90
Note 6: Loans and Allowance for Credit Losses (continued)

Table 6.17 summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that modify more than once, the table reflects each modification that occurred during the period. Loans that both modify and pay off
 
within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table.
Table 6.17: TDR Modifications
 
Primary modification type (1)
 
 
Financial effects of modifications
 
(in millions)
Principal (2)

 
Interest
rate
reduction

 
Other
concessions (3)

 
Total

 
Charge-
offs (4)

 
Weighted
average
interest
rate
reduction

 
Recorded
investment
related to
interest rate
reduction (5)

Quarter ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
—

 
34

 
180

 
214

 
26

 
0.34
%
 
$
34

Real estate mortgage
—

 
24

 
95

 
119

 
—

 
0.49

 
24

Real estate construction
13

 
—

 
13

 
26

 
—

 
—

 
—

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial
13

 
58

 
288

 
359

 
26

 
0.40

 
58

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
28

 
2

 
181

 
211

 
—

 
1.83

 
19

Real estate 1-4 family junior lien mortgage
1

 
11

 
21

 
33

 
1

 
2.39

 
11

Credit card
—

 
89

 
—

 
89

 
—

 
13.35

 
89

Automobile
2

 
3

 
14

 
19

 
8

 
4.13

 
3

Other revolving credit and installment
—

 
12

 
1

 
13

 
—

 
7.67

 
12

Trial modifications (6)
—

 
—

 
5

 
5

 
—

 
—

 
—

Total consumer
31

 
117

 
222

 
370

 
9

 
10.06

 
134

Total
$
44

 
175

 
510

 
729

 
35

 
7.17
%
 
$
192

Quarter ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
3

 
5

 
449

 
457

 
14

 
0.58
%
 
$
5

Real estate mortgage
—

 
11

 
121

 
132

 
—

 
0.67

 
11

Real estate construction
—

 
—

 
1

 
1

 
—

 
—

 
—

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial
3

 
16

 
571

 
590

 
14

 
0.64

 
16

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
64

 
8

 
286

 
358

 
2

 
2.26

 
31

Real estate 1-4 family junior lien mortgage
2

 
12

 
30

 
44

 
2

 
1.66

 
13

Credit card
—

 
83

 
—

 
83

 
—

 
13.19

 
83

Automobile
2

 
4

 
11

 
17

 
5

 
6.49

 
4

Other revolving credit and installment
—

 
10

 
2

 
12

 
—

 
7.95

 
10

Trial modifications (6)
—

 
—

 
17

 
17

 
—

 
—

 
—

Total consumer
68

 
117

 
346

 
531

 
9

 
9.17

 
141

Total
$
71

 
133

 
917

 
1,121

 
23

 
8.30
%
 
$
157






91

 
Primary modification type (1)
 
 
Financial effects of modifications
 
(in millions)
Principal (2)

 
Interest
rate
reduction

 
Other
concessions (3)

 
Total

 
Charge-
offs (4)

 
Weighted
average
interest
rate
reduction

 
Recorded
investment
related to
interest rate
reduction (5)

Six months ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
—

 
45

 
734

 
779

 
39

 
0.42
%
 
$
45

Real estate mortgage
—

 
26

 
168

 
194

 
—

 
0.54

 
26

Real estate construction
13

 
—

 
16

 
29

 
—

 
—

 
—

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial
13

 
71

 
918

 
1,002

 
39

 
0.47

 
71

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
63

 
5

 
475

 
543

 
1

 
1.89

 
38

Real estate 1-4 family junior lien mortgage
3

 
22

 
46

 
71

 
2

 
2.34

 
23

Credit card
—

 
186

 
—

 
186

 
—

 
13.27

 
186

Automobile
4

 
4

 
26

 
34

 
14

 
4.55

 
4

Other revolving credit and installment
—

 
23

 
4

 
27

 
—

 
7.63

 
23

Trial modifications (6)
—

 
—

 
5

 
5

 
—

 
—

 
—

Total consumer
70

 
240

 
556

 
866

 
17

 
10.17

 
274

Total
$
83

 
311

 
1,474

 
1,868

 
56

 
8.18
%
 
$
345

Six months ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
3

 
14

 
937

 
954

 
20

 
0.88
%
 
$
14

Real estate mortgage
—

 
17

 
219

 
236

 
—

 
0.89

 
17

Real estate construction
—

 
—

 
4

 
4

 
—

 
—

 
—

Lease financing
—

 
—

 
39

 
39

 
—

 
—

 
—

Total commercial
3

 
31

 
1,199

 
1,233

 
20

 
0.88

 
31

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
110

 
18

 
592

 
720

 
3

 
2.33

 
66

Real estate 1-4 family junior lien mortgage
3

 
20

 
58

 
81

 
3

 
1.89

 
22

Credit card
—

 
169

 
—

 
169

 
—

 
12.24

 
169

Automobile
3

 
8

 
25

 
36

 
14

 
6.48

 
8

Other revolving credit and installment
—

 
25

 
4

 
29

 
—

 
7.95

 
25

Trial modifications (6)
—

 
—

 
32

 
32

 
—

 
—

 
—

Total consumer
116

 
240

 
711

 
1,067

 
20

 
8.67

 
290

Total
$
119

 
271

 
1,910

 
2,300

 
40

 
7.92
%
 
$
321

(1)
Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $323 million and $381 million for the quarters ended June 30, 2019 and 2018, respectively, and $683 million and $884 million for the first half of 2019 and 2018, respectively.
(2)
Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate.
(3)
Other concessions include loans discharged in bankruptcy, loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the contractual interest rate.
(4)
Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $3 million and $14 million for the quarters ended June 30, 2019 and 2018, and $6 million and $17 million for the first half of 2019 and 2018, respectively.
(5)
Reflects the effect of reduced interest rates on loans with an interest rate concession as one of its concession types, which includes loans reported as a principal primary modification type that also have an interest rate concession.
(6)
Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period.

92
Note 6: Loans and Allowance for Credit Losses (continued)

Table 6.18 summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We are reporting these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment.
 


Table 6.18: Defaulted TDRs
 
Recorded investment of defaults
 
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Commercial:
 
 
 
 
 
 
 
Commercial and industrial
$
25

 
7

 
48

 
93

Real estate mortgage
5

 
14

 
33

 
40

Real estate construction
—

 
16

 
3

 
16

Total commercial
30

 
37

 
84

 
149

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
13

 
15

 
24

 
33

Real estate 1-4 family junior lien mortgage
4

 
2

 
9

 
7

Credit card
21

 
24

 
42

 
37

Automobile
4

 
4

 
7

 
7

Other revolving credit and installment
1

 
1

 
3

 
2

Total consumer
43

 
46

 
85

 
86

Total
$
73

 
83

 
169

 
235



Purchased Credit-Impaired Loans
Table 6.19 presents PCI loans net of any remaining purchase accounting adjustments. Real estate 1-4 family first mortgage PCI loans are predominantly Pick-a-Pay loans.
Table 6.19: PCI Loans
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Total commercial
$
—

 
4

Consumer:
 
 
 
Real estate 1-4 family first mortgage
1,159

 
4,988

Real estate 1-4 family junior lien mortgage
15

 
17

Total consumer
1,174

 
5,005

Total PCI loans (carrying value)
$
1,174

 
5,009

Total PCI loans (unpaid principal balance)
$
1,952

 
7,348





93

Note 7:  Leasing Activity
The information below provides a summary of our leasing activities as a lessor and lessee.

As a Lessor
Table 7.1 presents the composition of our leasing revenue and Table 7.2 provides the components of our investment in lease financing.

Table 7.1: Leasing Revenue
(in millions)
Quarter ended June 30, 2019

Six months ended June 30, 2019

Interest income on lease financing
$
224

447

Other lease revenues:
 
 
Variable revenues on lease financing
26

50

Fixed revenues on operating leases
357

730

Variable revenues on operating leases
14

32

Other lease-related revenues (1)
27

55

Lease income
424

867

Total leasing revenue
$
648

1,314

(1)
Predominantly includes net gains on disposition of assets leased under operating leases or lease financings.

Table 7.2: Investment in Lease Financing
(in millions)
Jun 30, 2019

Lease receivables
$
17,735

Residual asset values
4,244

Unearned income
(2,655
)
Lease financing
$
19,324



Our net investment in financing and sales-type leases includes $2.1 billion of leveraged leases at June 30, 2019.
As shown in Table 9.1, included in Note 9 (Other Assets), we had $8.7 billion in operating lease assets at June 30, 2019, which was net of $3.2 billion of accumulated depreciation. Depreciation expense for the lease assets was $219 million and $448 million in the second quarter and first half of 2019, respectively.
 
Table 7.3 presents future lease payments owed by our lessees.

Table 7.3: Maturities of Lease Receivables
 
June 30, 2019
 
(in millions)
Direct financing and sales- type leases

Operating leases

Remainder of 2019
$
3,036

535

2020
5,167

880

2021
4,004

591

2022
2,127

407

2023
1,219

269

Thereafter
2,182

605

Total lease receivables
$
17,735

3,287



As a Lessee
Substantially all of our leases are operating leases. Table 7.4 presents balances for our operating leases.

Table 7.4: Operating Lease Right of Use (ROU) Assets and Lease Liabilities
(in millions)
Jun 30, 2019

ROU assets
$
4,776

Lease liabilities
5,302



Table 7.5 provides the composition of our lease costs, which are predominantly included in net occupancy expense.

Table 7.5: Lease Costs
(in millions)
Quarter ended June 30, 2019

Six months ended June 30, 2019

Fixed lease expense - operating leases
$
291

588

Variable lease expense
80

153

Other (1)
(9
)
(17
)
Total lease costs
$
362

724

(1)
Predominantly includes sublease rental income and gains recognized from sale leaseback transactions.




94
Note 7: Leasing Activity (continued)

Tables 7.6 and 7.7 provide the future lease payments under operating leases as of December 31, 2018 and June 30, 2019, respectively. Table 7.7 also includes information on the remaining average lease term and discount rate.
Table 7.6: Lease Payments on Operating Leases Prior to Adoption of ASU 2016-02 - Leases
(in millions)
December 31, 2018

2019
$
1,174

2020
1,056

2021
880

2022
713

2023
577

Thereafter
1,654

Total
$
6,054


Table 7.7: Lease Payments on Operating Leases Subsequent to Adoption of ASU 2016-02 - Leases
(in millions, except for weighted averages)
June 30, 2019

Remainder of 2019
$
566

2020
1,127

2021
947

2022
792

2023
654

Thereafter
2,054

Total lease payments
6,140

Less: imputed interest
838

Total operating lease liabilities
$
5,302

Weighted average remaining lease term (in years)
7.3

Weighted average discount rate
3.2
%


Our operating leases predominantly expire within the next 15 years, with the longest lease expiring in 2105. We do not include renewal or termination options in the establishment of the lease term when we are not reasonably certain that we will exercise them. As of June 30, 2019, we had additional operating leases commitments of $72 million, predominantly for real estate, which leases had not yet commenced. These leases will commence by 2020 and have lease terms of 1 year to 11 years.


95

Note 8:  Equity Securities
Table 8.1 provides a summary of our equity securities by business purpose and accounting method, including equity securities with readily determinable fair values (marketable) and those without readily determinable fair values (nonmarketable).
Table 8.1: Equity Securities
 
Jun 30,

 
Dec 31,

(in millions)
2019

 
2018

Held for trading at fair value:
 
 
 
Marketable equity securities
$
23,327

 
19,449

Not held for trading:
 
 
 
Fair value:
 
 
 
Marketable equity securities (1)
5,379

 
4,513

Nonmarketable equity securities
7,244

 
5,594

Total equity securities at fair value
12,623

 
10,107

Equity method:
 
 
 
Low-income housing tax credit investments
11,162

 
10,999

Private equity
3,352

 
3,832

Tax-advantaged renewable energy
3,051

 
3,073

New market tax credit and other
294

 
311

Total equity method
17,859


18,215

Other:
 
 
 
Federal Reserve Bank stock and other at cost (2)
5,622

 
5,643

Private equity (3)
2,106

 
1,734

Total equity securities not held for trading
38,210

 
35,699

Total equity securities
$
61,537

 
55,148

(1)
Includes $3.5 billion and $3.2 billion at June 30, 2019, and December 31, 2018, respectively, related to securities held as economic hedges of our deferred compensation plan obligations.
(2)
Includes $5.6 billion and $5.6 billion at June 30, 2019 and December 31, 2018, respectively, related to investments in Federal Reserve Bank and Federal Home Loan Bank stock.
(3)
Represents nonmarketable equity securities accounted for under the measurement alternative.

Equity Securities Held for Trading
Equity securities held for trading purposes are marketable equity securities traded on organized exchanges. These securities are held as part of our customer accommodation trading activities. For more information on these activities, see Note 4 (Trading Activities).

Equity Securities Not Held for Trading
We also hold equity securities unrelated to trading activities. These securities include private equity and tax credit investments, securities held as economic hedges or to meet regulatory requirements (for example, Federal Reserve Bank and Federal Home Loan Bank stock). Equity securities not held for trading purposes are accounted for at either fair value, equity method, cost or the measurement alternative.

 
FAIR VALUE Marketable equity securities held for purposes other than trading primarily consist of exchange-traded equity funds held to economically hedge obligations related to our deferred compensation plans and to a lesser extent other holdings of publicly traded equity securities held for investment purposes. We account for certain nonmarketable equity securities under the fair value method, and substantially all of these securities are economically hedged with equity derivatives.

EQUITY METHOD Our equity method investments consist of tax credit and private equity investments, the majority of which are our low-income housing tax credit (LIHTC) investments.
We invest in affordable housing projects that qualify for the LIHTC, which are designed to promote private development of low-income housing. These investments generate a return mostly through realization of federal tax credit and other tax benefits. In the second quarter and first half of 2019, we recognized pre-tax losses of $298 million and $571 million, respectively, related to our LIHTC investments, compared with $287 million and $567 million, respectively, for the same periods a year ago. These losses were recognized in other noninterest income. We also recognized total tax benefits of $376 million and $746 million in the second quarter and first half of 2019, respectively, which included tax credits recorded to income taxes of $303 million and $605 million for the same periods, respectively. In the second quarter and first half of 2018, total tax benefits were $352 million and $711 million, respectively, which included tax credits of $281 million and $571 million for the same periods, respectively. We are periodically required to provide additional financial support during the investment period. A liability is recognized for unfunded commitments that are both legally binding and probable of funding. These commitments are predominantly funded within three years of initial investment. Our liability for these unfunded commitments was $3.9 billion at June 30, 2019, and $3.6 billion at December 31, 2018. This liability for unfunded commitments is included in long-term debt.

OTHER The remaining portion of our nonmarketable equity securities portfolio consists of securities accounted for using the cost or measurement alternative method.

96
Note 8: Equity Securities (continued)

Realized Gains and Losses Not Held for Trading
Table 8.2 provides a summary of the net gains and losses from equity securities not held for trading. Gains and losses for securities held for trading are reported in net gains from trading activities.
 

Table 8.2: Net Gains (Losses) from Equity Securities Not Held for Trading
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Net gains (losses) from equity securities carried at fair value:
 
 
 
 
 
 
 
Marketable equity securities
$
264

 
28

 
641

 
36

Nonmarketable equity securities
732

 
594

 
1,668

 
703

Total equity securities carried at fair value
996

 
622

 
2,309

 
739

Net gains (losses) from nonmarketable equity securities not carried at fair value:
 
 
 
 
 
 
 
Impairment write-downs
(31
)
 
(237
)
 
(67
)
 
(257
)
Net unrealized gains related to measurement alternative observable transactions
146

 
35

 
331

 
263

Net realized gains on sale
169

 
399

 
406

 
897

All other
—

 
16

 
—

 
34

Total nonmarketable equity securities not carried at fair value
284

 
213

 
670

 
937

Net losses from economic hedge derivatives (1)
(658
)
 
(540
)
 
(1,543
)
 
(598
)
Total net gains from equity securities
$
622

 
295

 
1,436

 
1,078

(1)
Includes net gains (losses) on derivatives not designated as hedging instruments.
Measurement Alternative
Table 8.3 provides additional information about the impairment write-downs and observable price adjustments related to
 
nonmarketable equity securities accounted for under the measurement alternative. Gains and losses related to these adjustments are also included in Table 8.2.
Table 8.3: Net Gains (Losses) from Measurement Alternative Equity Securities     
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Net gains (losses) recognized in earnings during the period:
 
 
 
 
 
 
 
Gross unrealized gains due to observable price changes
$
157

 
43

 
342

 
271

Gross unrealized losses due to observable price changes
(11
)
 
(8
)
 
(11
)
 
(8
)
Impairment write-downs
(11
)
 
(5
)
 
(33
)
 
(12
)
Realized net gains from sale
102

 
16

 
125

 
91

Total net gains recognized during the period
$
237

 
46

 
423

 
342

Table 8.4 presents cumulative carrying value adjustments to nonmarketable equity securities accounted for under the measurement alternative that were still held as of the balance sheet date.
 

Table 8.4: Measurement Alternative Cumulative Gains (Losses)
 
Jun 30,

 
Dec 31,

(in millions)
2019

 
2018

Cumulative gains (losses):
 
 
 
Gross unrealized gains due to observable price changes
$
733

 
415

Gross unrealized losses due to observable price changes
(36
)
 
(25
)
Impairment write-downs
(52
)
 
(33
)



97

Note 9:  Other Assets
Table 9.1 presents the components of other assets.
Table 9.1: Other Assets         
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Corporate/bank-owned life insurance
$
19,912

 
19,751

Accounts receivable (1)
26,213

 
34,281

Interest receivable
6,177

 
6,084

Customer relationship and other amortized intangibles
479

 
545

Foreclosed assets:
 
 
 
Residential real estate:
 
 
 
Government insured/guaranteed
68

 
88

Non-government insured/guaranteed
185

 
229

Other
124

 
134

Operating lease assets (lessor)
8,663

 
9,036

Operating lease ROU assets (lessee) (2)
4,776

 
—

Due from customers on acceptances
272

 
258

Other
9,489

 
9,444

Total other assets
$
76,358

 
79,850

(1)
Certain government-guaranteed residential real estate mortgage loans upon foreclosure are included in Accounts receivable. For more information, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K.
(2)
We recognized operating lease right of use (ROU) assets effective January 1, 2019, in connection with the adoption of ASU 2016-02 – Leases. For more information, see Note 1 (Summary of Significant Accounting Policies).


98
Note 10: Securitizations and Variable Interest Entities (continued)

Note 10: Securitizations and Variable Interest Entities
Involvement with Special Purpose Entities (SPEs)
In the normal course of business, we enter into various types of on- and off-balance sheet transactions with SPEs, which are corporations, trusts, limited liability companies or partnerships that are established for a limited purpose. Generally, SPEs are formed in connection with securitization transactions and are considered variable interest entities (VIEs). For further description of our involvement with SPEs, see Note 9 (Securitizations and Variable Interest Entities) in our 2018 Form 10-K.
 
We have segregated our involvement with VIEs between those VIEs which we consolidate, those which we do not consolidate and those for which we account for the transfers of financial assets as secured borrowings. Secured borrowings are transactions involving transfers of our financial assets to third parties that are accounted for as financings with the assets pledged as collateral. Accordingly, the transferred assets remain recognized on our balance sheet. Subsequent tables within this Note further segregate these transactions by structure type.
Table 10.1 provides the classifications of assets and liabilities in our balance sheet for our transactions with VIEs.
Table 10.1: Balance Sheet Transactions with VIEs
(in millions)
VIEs that we
do not
consolidate

 
VIEs
that we
consolidate

Transfers that
we account
for as secured
borrowings
 
 
Total

June 30, 2019
 
 
 
 
 
Cash and due from banks
$
—

 
11

 
—

 
11

Interest-earning deposits with banks
—

 
8

 
—

 
8

Debt securities:
 
 
 
 
 
 
 
Trading debt securities
2,072

 
60

 
200

 
2,332

Available-for-sale debt securities (1)
1,879

 
—

 
68

 
1,947

Held-to-maturity debt securities
560

 
—

 
—

 
560

Loans
1,214

 
13,602

 
87

 
14,903

Mortgage servicing rights
12,354

 
—

 
—

 
12,354

Derivative assets
143

 
—

 
—

 
143

Equity securities
11,211

 
121

 
—

 
11,332

Other assets
—

 
208

 
2

 
210

Total assets
29,433

 
14,010

 
357

 
43,800

Short-term borrowings
—

 
—

 
263

 
263

Derivative liabilities
1

 
1

(2)
—

 
2

Accrued expenses and other liabilities  
198

 
201

(2)
2

 
401

Long-term debt  
3,857

 
748

(2)
85

 
4,690

Total liabilities
4,056

 
950

 
350

 
5,356

Noncontrolling interests
—

 
41

 
—

 
41

Net assets
$
25,377

 
13,019

 
7

 
38,403

December 31, 2018
 
 
 
 
 
 
 
Cash and due from banks
$
—

 
139

 
—

 
139

Interest-earning deposits with banks
—

 
8

 
—

 
8

Debt securities:
 
 
 
 
 
 
 
Trading debt securities
2,110

 
45

 
200

 
2,355

Available-for-sale debt securities (1)
2,686

 
—

 
317

 
3,003

Held-to-maturity debt securities
510

 
—

 
—

 
510

Loans
1,433

 
13,564

 
94

 
15,091

Mortgage servicing rights
14,761

 
—

 
—

 
14,761

Derivative assets
53

 
—

 
—

 
53

Equity securities
11,041

 
85

 
—

 
11,126

Other assets
—

 
221

 
6

 
227

Total assets
32,594

 
14,062

 
617

 
47,273

Short-term borrowings
—

 
—

 
493

 
493

Derivative liabilities
26

 
—

(2)
—

 
26

Accrued expenses and other liabilities
231

 
191

(2)
8

 
430

Long-term debt
3,870

 
816

(2)
93

 
4,779

Total liabilities
4,127

 
1,007

 
594

 
5,728

Noncontrolling interests
—

 
34

 
—

 
34

Net assets
$
28,467

 
13,021

 
23

 
41,511

(1)
Excludes certain debt securities related to loans serviced for the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and GNMA.
(2)
There were no VIE liabilities with recourse to the general credit of Wells Fargo for the periods presented.

99

Transactions with Unconsolidated VIEs
Our transactions with unconsolidated VIEs include securitizations of residential mortgage loans, CRE loans, student loans, automobile loans and leases, certain dealer floorplan loans; investment and financing activities involving collateralized debt obligations (CDOs) backed by asset-backed and CRE securities, tax credit structures, collateralized loan obligations (CLOs) backed by corporate loans, and other types of structured financing. We have various forms of involvement with VIEs, including servicing, holding senior or subordinated interests, entering into liquidity arrangements, credit default swaps and other derivative contracts. Involvements with these unconsolidated VIEs are recorded on our balance sheet in debt and equity securities, loans, MSRs, derivative assets and liabilities, other assets, other liabilities, and long-term debt, as appropriate.
Table 10.2 provides a summary of unconsolidated VIEs with which we have significant continuing involvement, but we are not the primary beneficiary. We do not consider our continuing involvement in an unconsolidated VIE to be significant when it relates to third-party sponsored VIEs for which we were not the transferor (unless we are servicer and have other significant forms of involvement) or if we were the sponsor only or sponsor
 
and servicer but do not have any other forms of significant involvement.
Significant continuing involvement includes transactions where we were the sponsor or transferor and have other significant forms of involvement. Sponsorship includes transactions with unconsolidated VIEs where we solely or materially participated in the initial design or structuring of the entity or marketing of the transaction to investors. When we transfer assets to a VIE and account for the transfer as a sale, we are considered the transferor. We consider investments in securities (other than those held temporarily in trading), loans, guarantees, liquidity agreements, written options and servicing of collateral to be other forms of involvement that may be significant. We have excluded certain transactions with unconsolidated VIEs from the balances presented in the following table where we have determined that our continuing involvement is not significant due to the temporary nature and size of our variable interests, because we were not the transferor or because we were not involved in the design of the unconsolidated VIEs. We also exclude from the table secured borrowing transactions with unconsolidated VIEs (for information on these transactions, see the Transactions with Consolidated VIEs and Secured Borrowings section in this Note).
Table 10.2: Unconsolidated VIEs
 
 
 
Carrying value – asset (liability)
 
(in millions)
Total
VIE
assets

 
Debt and
equity
interests (1)

 
Servicing
assets

 
Derivatives

 
Other
commitments
and
guarantees

 
Net
assets

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loan securitizations:
 
 
 
 
 
 
 
 
 
 
 
Conforming (2)
$
1,132,124

 
2,367

 
11,420

 
—

 
(136
)
 
13,651

Other/nonconforming
9,438

 
37

 
57

 
—

 
—

 
94

Commercial mortgage securitizations
154,690

 
2,041

 
877

 
85

 
(42
)
 
2,961

Collateralized debt obligations:
 
 
 
 
 
 
 
 
 
 
 
Debt securities
637

 
—

 
—

 
4

 
(20
)
 
(16
)
Asset-based finance structures
244

 
143

 
—

 
—

 
—

 
143

Tax credit structures
36,888

 
12,232

 
—

 
—

 
(3,857
)
 
8,375

Collateralized loan obligations
176

 
1

 
—

 
—

 
—

 
1

Investment funds
210

 
49

 
—

 
—

 
—

 
49

Other (3)
1,508

 
66

 
—

 
53

 
—

 
119

Total
$
1,335,915

 
16,936

 
12,354

 
142

 
(4,055
)
 
25,377

 
 
 
Maximum exposure to loss
 
 
 
 
Debt and
equity
interests (1)

 
Servicing
assets

 
Derivatives

 
Other
commitments
and
guarantees

 
Total
exposure

Residential mortgage loan securitizations:
 
 
 
 
 
 
 
 
 
 
 
Conforming
 
 
$
2,367

 
11,420

 
—

 
902

 
14,689

Other/nonconforming
 
 
37

 
57

 
—

 
—

 
94

Commercial mortgage securitizations
 
 
2,041

 
877

 
85

 
12,007

 
15,010

Collateralized debt obligations:
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
—

 
—

 
4

 
20

 
24

Asset-based finance structures
 
 
143

 
—

 
—

 
71

 
214

Tax credit structures
 
 
12,232

 
—

 
—

 
1,373

 
13,605

Collateralized loan obligations
 
 
1

 
—

 
—

 
—

 
1

Investment funds
 
 
49

 
—

 
—

 
—

 
49

Other (3)
 
 
66

 
—

 
54

 
159

 
279

Total
 
 
$
16,936

 
12,354

 
143

 
14,532

 
43,965

(continued on following page)

100
Note 10: Securitizations and Variable Interest Entities (continued)

(continued from previous page)
 
 
 
Carrying value – asset (liability)
 
(in millions)
Total
VIE
assets

 
Debt and
equity
interests (1)

 
Servicing
assets

 
Derivatives

 
Other
commitments
and
guarantees

 
Net
assets

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loan securitizations:
 
 
 
 
 
 
 
 
 
 
 
Conforming (2)
$
1,172,833

 
2,377

 
13,811

 
—

 
(171
)
 
16,017

Other/nonconforming
10,596

 
453

 
57

 
—

 
—

 
510

Commercial mortgage securitizations
153,350

 
2,409

 
893

 
(22
)
 
(40
)
 
3,240

Collateralized debt obligations:
 
 
 
 
 
 
 
 
 
 
 
Debt securities
659

 
—

 
—

 
5

 
(20
)
 
(15
)
Asset-based finance structures
304

 
205

 
—

 
—

 
—

 
205

Tax credit structures
35,185

 
12,087

 
—

 
—

 
(3,870
)
 
8,217

Collateralized loan obligations
2

 
—

 
—

 
—

 
—

 
—

Investment funds
185

 
42

 
—

 
—

 
—

 
42

Other (3)
1,688

 
207

 
—

 
44

 
—

 
251

Total
$
1,374,802

 
17,780

 
14,761

 
27

 
(4,101
)
 
28,467

 
 
 
Maximum exposure to loss
 
 
 
 
Debt and
equity
interests (1)

 
Servicing
assets

 
Derivatives

 
Other
commitments
and
guarantees

 
Total
exposure

Residential mortgage loan securitizations:
 
 
 
 
 
 
 
 
 
 
 
Conforming
 
 
$
2,377

 
13,811

 
—

 
1,183

 
17,371

Other/nonconforming
 
 
453

 
57

 
—

 
—

 
510

Commercial mortgage securitizations
 
 
2,409

 
893

 
28

 
11,563

 
14,893

Collateralized debt obligations:
 
 
 
 
 
 
 
 
 
 
 
Debt securities
 
 
—

 
—

 
5

 
20

 
25

Asset-based finance structures
 
 
205

 
—

 
—

 
71

 
276

Tax credit structures
 
 
12,087

 
—

 
—

 
1,420

 
13,507

Collateralized loan obligations
 
 
—

 
—

 
—

 
—

 
—

Investment funds
 
 
42

 
—

 
—

 
—

 
42

Other (3)
 
 
207

 
—

 
45

 
158

 
410

Total
 
 
$
17,780

 
14,761

 
78

 
14,415

 
47,034

(1)
Includes total equity interests of $11.2 billion and $11.0 billion at June 30, 2019, and December 31, 2018, respectively. Also includes debt interests in the form of both loans and securities. Excludes certain debt securities held related to loans serviced for FNMA, FHLMC and GNMA.
(2)
Excludes assets and related liabilities with a recorded carrying value on our balance sheet of $551 million and $1.2 billion at June 30, 2019, and December 31, 2018, respectively, for certain delinquent loans that are eligible for repurchase from GNMA loan securitizations. The recorded carrying value represents the amount that would be payable if the Company was to exercise the repurchase option. The carrying amounts are excluded from the table because the loans eligible for repurchase do not represent interests in the VIEs.
(3)
Includes structured financing and credit-linked note structures.

In Table 10.2, “Total VIE assets” represents the remaining principal balance of assets held by unconsolidated VIEs using the most current information available. For VIEs that obtain exposure to assets synthetically through derivative instruments, the remaining notional amount of the derivative is included in the asset balance. “Carrying value” is the amount in our consolidated balance sheet related to our involvement with the unconsolidated VIEs. “Maximum exposure to loss” from our involvement with off-balance sheet entities, which is a required disclosure under GAAP, is determined as the carrying value of our involvement with off-balance sheet (unconsolidated) VIEs plus the remaining undrawn liquidity and lending commitments, the notional amount of net written derivative contracts, and generally the notional amount of, or stressed loss estimate for, other commitments and guarantees. It represents estimated loss that would be incurred under severe, hypothetical circumstances, for which we believe the possibility is extremely remote, such as where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. Accordingly, this required disclosure is not an indication of expected loss.
For complete descriptions of our types of transactions with unconsolidated VIEs with which we have a significant continuing involvement, but we are not the primary beneficiary, see Note 9 (Securitizations and Variable Interest Entities) in our 2018 Form 10-K.

INVESTMENT FUNDS We voluntarily waived a portion of our management fees for certain money market funds that are
 
exempt from the consolidation analysis to ensure the funds maintained a minimum level of daily net investment income. The amount of fees waived in the second quarter and first half of 2019 was $10 million and $20 million, respectively, compared with $12 million and $25 million, respectively, in the same periods of 2018.

TRUST PREFERRED SECURITIES  VIEs that we wholly own issue debt securities or preferred equity to third party investors. All of the proceeds of the issuance are invested in debt securities or preferred equity that we issue to the VIEs. The VIEs’ operations and cash flows relate only to the issuance, administration and repayment of the securities held by third parties. We do not consolidate these VIEs because the sole assets of the VIEs are receivables from us, even though we own all of the voting equity shares of the VIEs, have fully guaranteed the obligations of the VIEs and may have the right to redeem the third party securities under certain circumstances. In our consolidated balance sheet we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $2.1 billion and $2.0 billion at June 30, 2019 and December 31, 2018, respectively, and the preferred equity securities issued to the VIEs as preferred stock with a carrying value of $2.5 billion at both dates. These VIEs are not included in the preceding table.

Loan Sales and Securitization Activity
We periodically transfer consumer and CRE loans and other types of financial assets in securitization and whole loan sale

101

transactions. We typically retain the servicing rights from these sales and may continue to hold other beneficial interests in the transferred financial assets. We may also provide liquidity to investors in the beneficial interests and credit enhancements in the form of standby letters of credit. Through these transfers we may be exposed to liability under limited amounts of recourse as
 
well as standard representations and warranties we make to purchasers and issuers. Table 10.3 presents the cash flows for our transfers accounted for as sales in which we have continuing involvement with the transferred financial assets.
Table 10.3: Cash Flows From Sales and Securitization Activity
 
Mortgage loans
 
(in millions)
2019

 
2018

Quarter ended June 30,
 
 
 
Proceeds from securitizations and whole loan sales
$
39,697

 
51,990

Fees from servicing rights retained
786

 
830

Cash flows from other interests held (1)
133

 
168

Repurchases of assets/loss reimbursements (2):
 
 
 
Non-agency securitizations and whole loan transactions
1

 
1

Agency securitizations (3)
27

 
19

Servicing advances, net of repayments
(54
)
 
(7
)
Six months ended June 30,
 
 
 
Proceeds from securitizations and whole loan sales
$
76,204

 
102,577

Fees from servicing rights retained
1,566

 
1,675

Cash flows from other interests held (1)
244

 
353

Repurchases of assets/loss reimbursements (2):
 
 
 
Non-agency securitizations and whole loan transactions
1

 
2

Agency securitizations (3)
44

 
52

Servicing advances, net of repayments
(93
)
 
(43
)
(1)
Cash flows from other interests held include principal and interest payments received on retained bonds and excess cash flows received on interest-only strips. We also received $1 million in both the second quarter and first half of 2018 related to other financial assets.
(2)
Consists of cash paid to repurchase loans from investors and cash paid to investors to reimburse them for losses on individual loans that are already liquidated.
(3)
Represent loans repurchased from GNMA, FNMA, and FHLMC under representation and warranty provisions included in our loan sales contracts. Second quarter and first half of 2019 exclude $1.3 billion and $3.2 billion, respectively, in delinquent insured/guaranteed loans that we service and have exercised our option to purchase out of GNMA pools, compared with $1.8 billion and $4.7 billion, respectively, in the same periods of 2018. These loans are predominantly insured by the FHA or guaranteed by the VA.

In the second quarter and first half of 2019, we recognized net gains of $119 million and $180 million, respectively, from transfers accounted for as sales of financial assets, in which we have continuing involvement with the transferred assets, compared with $54 million and $112 million, respectively, in the same periods of 2018. Net gains recognized in the second quarter and first half of 2018 were revised from the amounts previously reported to exclude transfers for which we do not have continuing involvement. These net gains predominantly relate to commercial mortgage securitizations, and residential mortgage securitizations where the loans were not already carried at fair value.
Sales with continuing involvement during the second quarter and first half of 2019 and 2018 largely related to securitizations of residential mortgages that are sold to the government-sponsored entities (GSEs), including FNMA, FHLMC and GNMA (conforming residential mortgage securitizations). During the second quarter and first half of 2019, we transferred $36.7 billion and $70.8 billion, respectively, in fair value of residential mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared with $47.7 billion and $95.0 billion, respectively, in the same periods of 2018. Substantially all of these transfers did not result in a gain or loss because the loans were already carried at fair value. In connection with all of these transfers, in the first half of 2019, we recorded a $707 million servicing asset, measured at fair value using a Level 3 measurement technique, securities of $3.4 billion, classified as Level 2, and a $8 million liability for repurchase losses which reflects management’s estimate of probable losses related to various representations and warranties for the loans
 
transferred, initially measured at fair value. In the first half of 2018, we recorded a $988 million servicing asset, securities of $1.8 billion, and a $7 million liability.
Table 10.4 presents the key weighted-average assumptions we used to measure residential mortgage servicing rights at the date of securitization.

Table 10.4: Residential Mortgage Servicing Rights
 
Residential mortgage
servicing rights
 
 
2019

 
2018

Quarter ended June 30,
 
 
 
Prepayment speed (1)
13.5
%
 
10.7

Discount rate
7.5

 
7.4

Cost to service ($ per loan) (2)
$
121

 
146

Six months ended June 30,
 
 
 
Prepayment speed (1)
13.5
%
 
10.1

Discount rate
7.7

 
7.4

Cost to service ($ per loan) (2)
$
109

 
132

(1)
The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior.
(2)
Includes costs to service and unreimbursed foreclosure costs, which can vary period to period depending on the mix of modified government-guaranteed loans sold to GNMA.
During the second quarter and first half of 2019, we transferred $3.4 billion and $6.1 billion, respectively, in carrying value of commercial mortgages to unconsolidated VIEs and third-party investors and recorded the transfers as sales, compared

102
Note 10: Securitizations and Variable Interest Entities (continued)

with $4.4 billion and $7.5 billion, respectively, in the same periods of 2018. These transfers resulted in gains of $74 million and $121 million in the second quarter and first half of 2019, respectively, because the loans were carried at LOCOM, compared with gains of $60 million and $129 million in the same periods of 2018. In connection with these transfers, in the first half of 2019, we recorded a servicing asset of $59 million, initially measured at fair value using a Level 3 measurement technique, and no securities. In the first half of 2018, we recorded a servicing asset of $73 million and securities of $208 million.

Retained Interests from Unconsolidated VIEs
Table 10.5 provides key economic assumptions and the sensitivity of the current fair value of residential mortgage servicing rights and other interests held related to unconsolidated VIEs to
 
immediate adverse changes in those assumptions. “Other interests held” relate to residential and commercial mortgage loan securitizations. Residential mortgage-backed securities retained in securitizations issued through GSEs, such as FNMA, FHLMC and GNMA, are excluded from the table because these securities have a remote risk of credit loss due to the GSE guarantee. These securities also have economic characteristics similar to GSE mortgage-backed securities that we purchase, which are not included in the table. Subordinated interests include only those bonds whose credit rating was below AAA by a major rating agency at issuance. Senior interests include only those bonds whose credit rating was AAA by a major rating agency at issuance. The information presented excludes trading positions held in inventory.
Table 10.5: Retained Interests from Unconsolidated VIEs
 
 
 
Other interests held
 
 
Residential
mortgage
servicing
rights (1)

 
Interest-only
strips

 
Commercial
 
($ in millions, except cost to service amounts)
 
 
Subordinated
bonds

 
Senior
bonds

Fair value of interests held at June 30, 2019
$
12,096

 
14

 
706

 
302

Expected weighted-average life (in years)
5.6

 
3.4

 
7.2

 
5.3

Key economic assumptions:
 
 
 
 
 
 
 
Prepayment speed assumption (2)
12.2
%
 
18.8

 
 
 
 
Decrease in fair value from:
 
 
 
 
 
 
 
10% adverse change
$
526

 
1

 
 
 
 
25% adverse change
1,239

 
1

 
 
 
 
Discount rate assumption
7.4
%
 
13.9

 
3.5

 
2.8

Decrease in fair value from:
 
 
 
 
 
 
 
100 basis point increase
$
499

 
—

 
41

 
14

200 basis point increase
954

 
—

 
79

 
26

Cost to service assumption ($ per loan)
104

 
 
 
 
 
 
Decrease in fair value from:
 
 
 
 
 
 
 
10% adverse change
283

 
 
 
 
 
 
25% adverse change
707

 
 
 
 
 
 
Credit loss assumption
 
 
 
 
4.4
%
 
—

Decrease in fair value from:
 
 
 
 
 
 
 
10% higher losses
 
 
 
 
$
2

 
—

25% higher losses
 
 
 
 
5

 
—

Fair value of interests held at December 31, 2018
$
14,649

 
16

 
668

 
309

Expected weighted-average life (in years)
6.5

 
3.6

 
7.0

 
5.7

Key economic assumptions:
 
 
 
 
 
 
 
Prepayment speed assumption (2)
9.9
%
 
17.7

 
 
 
 
Decrease in fair value from:
 
 
 
 
 
 
 
10% adverse change
$
530

 
1

 
 
 
 
25% adverse change
1,301

 
1

 
 
 
 
Discount rate assumption
8.1
%
 
14.5

 
4.3

 
3.7

Decrease in fair value from:
 
 
 
 
 
 
 
100 basis point increase
$
615

 
—

 
37

 
14

200 basis point increase
1,176

 
1

 
72

 
28

Cost to service assumption ($ per loan)
106

 
 
 
 
 
 
Decrease in fair value from:
 
 
 
 
 
 
 
10% adverse change
316

 
 
 
 
 
 
25% adverse change
787

 
 
 
 
 
 
Credit loss assumption
 
 
 
 
5.1
%
 
—

Decrease in fair value from:
 
 
 
 
 
 
 
10% higher losses
 
 
 
 
$
2

 
—

25% higher losses
 
 
 
 
5

 
—

(1)
See narrative following this table for a discussion of commercial mortgage servicing rights.
(2)
The prepayment speed assumption for residential mortgage servicing rights includes a blend of prepayment speeds and default rates. Prepayment speed assumptions are influenced by mortgage interest rate inputs as well as our estimation of drivers of borrower behavior.
In addition to residential MSRs included in the previous table, we have a small portfolio of commercial MSRs with a fair value of $1.9 billion and $2.3 billion at June 30, 2019, and December 31, 2018, respectively. The nature of our commercial MSRs, which are carried at LOCOM, is different from our residential MSRs. Prepayment activity on serviced loans does not significantly impact the value of commercial MSRs because, unlike residential mortgages, commercial mortgages experience
 
significantly lower prepayments due to certain contractual restrictions, impacting the borrower’s ability to prepay the mortgage. Similarly, prepayment speed assumptions do not significantly impact the value of the commercial mortgage securitization bonds. Additionally, for our commercial MSR portfolio, we are typically master/primary servicer, but not the special servicer, who is separately responsible for the servicing and workout of delinquent and foreclosed loans. It is the special

103

servicer, similar to our role as servicer of residential mortgage loans, who is affected by higher servicing and foreclosure costs due to an increase in delinquent and foreclosed loans. Accordingly, prepayment speeds and costs to service are not key assumptions for commercial MSRs as they do not significantly impact the valuation. The primary economic driver impacting the fair value of our commercial MSRs is forward interest rates, which are derived from market observable yield curves used to price capital markets instruments. Market interest rates significantly affect interest earned on custodial deposit balances. The sensitivity of the current fair value to an immediate adverse 25% change in the assumption about interest earned on deposit balances at June 30, 2019, and December 31, 2018, results in a decrease in fair value of $231 million and $320 million, respectively. See Note 11 (Mortgage Banking Activities) for further information on our commercial MSRs.
The sensitivities in the preceding paragraph and table are hypothetical and caution should be exercised when relying on this data. Changes in value based on variations in assumptions generally cannot be extrapolated because the relationship of the change in the assumption to the change in value may not be
 
linear. Also, the effect of a variation in a particular assumption on the value of the other interests held is calculated independently without changing any other assumptions. In reality, changes in one factor may result in changes in others (for example, changes in prepayment speed estimates could result in changes in the credit losses), which might magnify or counteract the sensitivities.

Off-Balance Sheet Loans
Table 10.6 presents information about the principal balances of off-balance sheet loans that were sold or securitized, including residential mortgage loans sold to FNMA, FHLMC, GNMA and other investors, for which we have some form of continuing involvement (including servicer). Delinquent loans include loans 90 days or more past due and loans in bankruptcy, regardless of delinquency status. For loans sold or securitized where servicing is our only form of continuing involvement, we would only experience a loss if we were required to repurchase a delinquent loan or foreclosed asset due to a breach in representations and warranties associated with our loan sale or servicing contracts.
Table 10.6: Off-Balance Sheet Loans Sold or Securitized
 
 
 
 
 
 
 
 
 
Net charge-offs
 
 
Total loans
 
 
Delinquent loans and foreclosed assets (1)
 
 
Six months ended Jun 30,
 
(in millions)
Jun 30, 2019

 
Dec 31, 2018

 
Jun 30, 2019

 
Dec 31, 2018

 
2019

 
2018

Commercial:
 
 
 
 
 
 
 
 
 
 
 
Real estate mortgage
$
107,239

 
105,173

 
955

 
1,008

 
89

 
151

Total commercial
107,239

 
105,173

 
955

 
1,008

 
89

 
151

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
1,045,840

 
1,097,128

 
7,650

 
8,947

 
110

 
250

Total consumer
1,045,840

 
1,097,128

 
7,650

 
8,947

 
110

 
250

Total off-balance sheet sold or securitized loans (2)
$
1,153,079

 
1,202,301

 
8,605

 
9,955

 
199

 
401

(1)
Includes $583 million and $675 million of commercial foreclosed assets and $507 million and $582 million of consumer foreclosed assets at June 30, 2019, and December 31, 2018, respectively.
(2)
At June 30, 2019, and December 31, 2018, the table includes total loans of $1.1 trillion at both dates, delinquent loans of $5.7 billion and $6.4 billion, and foreclosed assets of $364 million and $442 million, respectively, for FNMA, FHLMC and GNMA. Net charge-offs exclude loans sold to FNMA, FHLMC and GNMA as we do not service or manage the underlying real estate upon foreclosure and, as such, do not have access to net charge-off information.

104
Note 10: Securitizations and Variable Interest Entities (continued)

Transactions with Consolidated VIEs and Secured Borrowings
Table 10.7 presents a summary of financial assets and liabilities for asset transfers accounted for as secured borrowings and involvements with consolidated VIEs. Carrying values of “Assets” are presented using GAAP measurement methods, which may include fair value, credit impairment or other adjustments, and
 
therefore in some instances will differ from “Total VIE assets.” For VIEs that obtain exposure synthetically through derivative instruments, the remaining notional amount of the derivative is included in “Total VIE assets.” On the consolidated balance sheet, we separately disclose the consolidated assets of certain VIEs that can only be used to settle the liabilities of those VIEs.
Table 10.7: Transactions with Consolidated VIEs and Secured Borrowings
 
 
 
Carrying value
 
(in millions)
Total VIE
assets

 
Assets

 
Liabilities

 
Noncontrolling
interests

 
Net assets

June 30, 2019
 
 
 
 
 
 
 
 
 
Secured borrowings:
 
 
 
 
 
 
 
 
 
Municipal tender option bond securitizations
$
263

 
270

 
(265
)
 
—

 
5

Residential mortgage securitizations
87

 
87

 
(85
)
 
—

 
2

Total secured borrowings
350

 
357

 
(350
)
 
—

 
7

Consolidated VIEs:
 
 
 
 
 
 
 
 
 
Commercial and industrial loans and leases
7,742

 
7,728

 
(490
)
 
(13
)
 
7,225

Nonconforming residential mortgage loan securitizations
1,475

 
1,288

 
(452
)
 
—

 
836

Commercial real estate loans
4,794

 
4,794

 
—

 
—

 
4,794

Investment funds
194

 
194

 
(6
)
 
(24
)
 
164

Other
6

 
6

 
(2
)
 
(4
)
 
—

Total consolidated VIEs
14,211

 
14,010

 
(950
)
 
(41
)
 
13,019

Total secured borrowings and consolidated VIEs
$
14,561

 
14,367

 
(1,300
)
 
(41
)
 
13,026

December 31, 2018
 
 
 
 
 
 
 
 
 
Secured borrowings:
 
 
 
 
 
 
 
 
 
Municipal tender option bond securitizations
$
627

 
523

 
(501
)
 
—

 
22

Residential mortgage securitizations
95

 
94

 
(93
)
 
—

 
1

Total secured borrowings
722

 
617

 
(594
)
 
—

 
23

Consolidated VIEs:
 
 
 
 
 
 
 
 
 
Commercial and industrial loans and leases
8,215

 
8,204

 
(477
)
 
(14
)
 
7,713

Nonconforming residential mortgage loan securitizations
1,947

 
1,732

 
(521
)
 
—

 
1,211

Commercial real estate loans
3,957

 
3,957

 
—

 
—

 
3,957

Investment funds
155

 
155

 
(5
)
 
(15
)
 
135

Other
14

 
14

 
(4
)
 
(5
)
 
5

Total consolidated VIEs
14,288

 
14,062

 
(1,007
)
 
(34
)
 
13,021

Total secured borrowings and consolidated VIEs
$
15,010

 
14,679

 
(1,601
)
 
(34
)
 
13,044


For complete descriptions of our accounting for transfers accounted for as secured borrowings and involvements with consolidated VIEs, see Note 9 (Securitizations and Variable Interest Entities) in our 2018 Form 10-K.

105

Note 11: Mortgage Banking Activities

Mortgage banking activities, included in the Community Banking and Wholesale Banking operating segments, consist of residential and commercial mortgage originations, sale activity and servicing.
 
We apply the amortization method to commercial MSRs and the fair value method to residential MSRs. Table 11.1 presents the changes in MSRs measured using the fair value method.
Table 11.1: Analysis of Changes in Fair Value MSRs
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Fair value, beginning of period
$
13,336

 
15,041

 
14,649

 
13,625

Servicing from securitizations or asset transfers (1)
400

 
486

 
741

 
1,059

Sales and other (2)
(1
)
 
(1
)
 
(282
)
 
(5
)
Net additions
399

 
485

 
459

 
1,054

Changes in fair value:
 
 
 
 
 
 
 
Due to changes in valuation model inputs or assumptions:
 
 
 
 
 
 
 
Mortgage interest rates (3)
(1,153
)
 
376

 
(2,093
)
 
1,629

Servicing and foreclosure costs (4)
(22
)
 
30

 
(10
)
 
64

Discount rates (5)
(109
)
 
—

 
(9
)
 
—

Prepayment estimates and other (6)
206

 
(61
)
 
143

 
(18
)
Net changes in valuation model inputs or assumptions
(1,078
)
 
345

 
(1,969
)
 
1,675

Changes due to collection/realization of expected cash flows over time
(561
)
 
(460
)
 
(1,043
)
 
(943
)
Total changes in fair value
(1,639
)
 
(115
)
 
(3,012
)
 
732

Fair value, end of period
$
12,096

 
15,411

 
12,096

 
15,411

(1)
Includes impacts associated with exercising our right to repurchase delinquent loans from GNMA loan securitization pools. Total reported MSRs may increase upon repurchase due to servicing liabilities associated with these loans.
(2)
Includes sales and transfers of MSRs, which can result in an increase of total reported MSRs if the sales or transfers are related to nonperforming loan portfolios or portfolios with servicing liabilities.
(3)
Includes prepayment speed changes as well as other valuation changes due to changes in mortgage interest rates (such as changes in estimated interest earned on custodial deposit balances).
(4)
Includes costs to service and unreimbursed foreclosure costs.
(5)
Reflects discount rate assumption change, excluding portion attributable to changes in mortgage interest rates.
(6)
Represents changes driven by other valuation model inputs or assumptions including prepayment speed estimation changes and other assumption updates. Prepayment speed estimation changes are influenced by observed changes in borrower behavior and other external factors that occur independent of interest rate changes.
 
Table 11.2 presents the changes in amortized MSRs.
 
 
Table 11.2: Analysis of Changes in Amortized MSRs
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Balance, beginning of period
$
1,427

 
1,411

 
1,443

 
1,424

Purchases
16

 
22

 
40

 
40

Servicing from securitizations or asset transfers
33

 
39

 
59

 
73

Amortization
(69
)
 
(65
)
 
(135
)
 
(130
)
Balance, end of period (1)
$
1,407

 
1,407

 
1,407

 
1,407

Fair value of amortized MSRs:
 
 
 
 
 
 
 
Beginning of period
$
2,149

 
2,307

 
2,288

 
2,025

End of period
1,897

 
2,309

 
1,897

 
2,309

(1)
Commercial amortized MSRs are evaluated for impairment purposes by the following risk strata: agency (GSEs) for multi-family properties and non-agency. There was no valuation allowance recorded for the periods presented on the commercial amortized MSRs.



106
Note 11: Mortgage Banking Activities (continued)

We present the components of our managed servicing portfolio in Table 11.3 at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced.
 
 
Table 11.3: Managed Servicing Portfolio
(in billions)
Jun 30, 2019

 
Dec 31, 2018

Residential mortgage servicing:
 
 
 
Serviced for others
$
1,107

 
1,164

Owned loans serviced
340

 
334

Subserviced for others
5

 
4

Total residential servicing
1,452

 
1,502

Commercial mortgage servicing:
 
 
 
Serviced for others
548

 
543

Owned loans serviced
123

 
121

Subserviced for others
9

 
9

Total commercial servicing
680

 
673

Total managed servicing portfolio
$
2,132

 
2,175

Total serviced for others
$
1,655

 
1,707

Ratio of MSRs to related loans serviced for others
0.82
%
 
0.94


 
Table 11.4 presents the components of mortgage banking noninterest income. 
Table 11.4: Mortgage Banking Noninterest Income

 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
 
2019

 
2018

 
2019

 
2018

Servicing income, net:
 
 
 
 
 
 
 
 
Servicing fees:
 
 
 
 
 
 
 
 
Contractually specified servicing fees
 
$
846

 
901

 
1,686

 
1,817

Late charges
 
30

 
42

 
63

 
86

Ancillary fees
 
38

 
47

 
76

 
87

Unreimbursed direct servicing costs (1)
 
(84
)
 
(85
)
 
(154
)
 
(179
)
Net servicing fees
 
830

 
905

 
1,671

 
1,811

Changes in fair value of MSRs carried at fair value:
 
 
 
 
 
 
 
 
Due to changes in valuation model inputs or assumptions (2)
(A)
(1,078
)
 
345

 
(1,969
)
 
1,675

Changes due to collection/realization of expected cash flows over time
 
(561
)
 
(460
)
 
(1,043
)
 
(943
)
Total changes in fair value of MSRs carried at fair value
 
(1,639
)
 
(115
)
 
(3,012
)
 
732

Amortization
 
(69
)
 
(65
)
 
(135
)
 
(130
)
Net derivative gains (losses) from economic hedges (3)
(B)
1,155

 
(319
)
 
2,117

 
(1,539
)
Total servicing income, net
 
277

 
406

 
641

 
874

Net gains on mortgage loan origination/sales activities (4)
 
481

 
364

 
825

 
830

Total mortgage banking noninterest income
 
$
758

 
770

 
1,466

 
1,704

Market-related valuation changes to MSRs, net of hedge results (2)(3)
(A)+(B)
$
77

 
26

 
148

 
136

(1)
Includes costs associated with foreclosures, unreimbursed interest advances to investors, and other interest costs.
(2)
Refer to the analysis of changes in fair value MSRs presented in Table 11.1 in this Note for more detail.
(3)
Represents results from economic hedges used to hedge the risk of changes in fair value of MSRs. See Note 15 (Derivatives) for additional discussion and detail.
(4)
Includes net gains (losses) of $(283) million and $(434) million in the second quarter and first half of 2019, respectively, and $134 million and $759 million in the second quarter and first half of 2018, respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments.







107

Note 12: Intangible Assets
Table 12.1 presents the gross carrying value of intangible assets and accumulated amortization.
Table 12.1: Intangible Assets
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Gross
carrying
value

 
Accumulated
amortization

 
Net
carrying
value

 
Gross
carrying
value

 
Accumulated
amortization

 
Net
carrying
value

Amortized intangible assets (1):
 
 
 
 
 
 
 
 
 
 
 
MSRs (2)
$
4,260

 
(2,853
)
 
1,407

 
4,161

 
(2,718
)
 
1,443

Core deposit intangibles
—

 
—

 
—

 
12,834

 
(12,834
)
 
—

Customer relationship and other intangibles
3,937

 
(3,458
)
 
479

 
3,994

 
(3,449
)
 
545

Total amortized intangible assets
$
8,197

 
(6,311
)
 
1,886

 
20,989

 
(19,001
)
 
1,988

Unamortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
MSRs (carried at fair value) (2)
$
12,096

 
 
 
 
 
14,649

 
 
 
 
Goodwill
26,415

 
 
 
 
 
26,418

 
 
 
 
Trademark
14

 
 
 
 
 
14

 
 
 
 
(1)
Balances are excluded commencing in the period following full amortization.
(2)
See Note 11 (Mortgage Banking Activities) for additional information on MSRs.

Table 12.2 provides the current year and estimated future amortization expense for amortized intangible assets. We based our projections of amortization expense shown below on existing asset balances at June 30, 2019. Future amortization expense may vary from these projections.
 




Table 12.2: Amortization Expense for Intangible Assets
(in millions)
 
Amortized MSRs

 
 
Customer
relationship
and other
intangibles

 
Total

Six months ended June 30, 2019 (actual)
 
$
135

 
 
59

 
194

Estimate for the remainder of 2019
 
$
136

 
 
55

 
191

Estimate for year ended December 31,
 
 
 
 
 
 
2020
 
249

 
 
95

 
344

2021
 
213

 
 
81

 
294

2022
 
188

 
 
68

 
256

2023
 
159

 
 
59

 
218

2024
 
134

 
 
48

 
182




108
Note 12: Intangible Assets (continued)

Table 12.3 shows the allocation of goodwill to our reportable operating segments.
Table 12.3: Goodwill
(in millions)
Community
Banking

 
Wholesale
Banking

 
Wealth and Investment Management

 
Consolidated
Company

December 31, 2017
$
16,849

 
8,455

 
1,283


26,587

Reclassification of goodwill held for sale to other assets
(155
)
 
—

 
—

 
(155
)
Reduction in goodwill related to divested businesses and other
—

 
(3
)
 
—

 
(3
)
June 30, 2018 (1)
$
16,694

 
8,452

 
1,283

 
26,429

December 31, 2018
$
16,685

 
8,450

 
1,283

 
26,418

Reclassification of goodwill held for sale to other assets
—

 
—

 
(7
)
 
(7
)
Foreign currency translation
—

 
4

 
—

 
4

June 30, 2019 (1)
$
16,685

 
8,454

 
1,276

 
26,415

(1)
At June 30, 2018, others assets included goodwill classified as held-for-sale of $155 million related to the sales agreements for Reliable Financial Services, Inc. and the branch divestitures announced in June 2018. At June 30, 2019, other assets included goodwill classified as held-for-sale of $7 million related to the sale of our Institutional Retirement and Trust business, which was announced in April 2019 and closed on July 1, 2019.
We assess goodwill for impairment at a reporting unit level, which is one level below the operating segments. See Note 22 (Operating Segments) for further information on management reporting.


109

Note 13: Guarantees, Pledged Assets and Collateral, and Other Commitments
Guarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. Guarantees are generally in the form of standby letters of credit, securities lending and other indemnifications, written put options, recourse obligations, and other types of similar arrangements. For
 
complete descriptions of our guarantees, see Note 15 (Guarantees, Pledged Assets and Collateral, and Other Commitments) in our 2018 Form 10-K. Table 13.1 shows carrying value, maximum exposure to loss on our guarantees and the related non-investment grade amounts.
Table 13.1: Guarantees – Carrying Value and Maximum Exposure to Loss
 
 
 
Maximum exposure to loss
 
(in millions)
Carrying
value of obligation (asset)

 
Expires in
one year
or less

 
Expires after
one year
through
three years

 
Expires after
three years
through
five years

 
Expires
after five
years

 
Total

 
Non-
investment
grade

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Standby letters of credit (1)
$
38

 
14,078

 
7,185

 
3,901

 
464

 
25,628

 
7,938

Securities lending and other indemnifications (2)
—

 
—

 
1

 
—

 
849

 
850

 
1

Written put options (3)
(371
)
 
12,574

 
11,682

 
2,803

 
386

 
27,445

 
15,882

Loans and MLHFS sold with recourse (4)
53

 
111

 
634

 
1,205

 
10,597

 
12,547

 
9,318

Factoring guarantees (5)
—

 
639

 
—

 
—

 
—

 
639

 
558

Other guarantees
1

 
—

 
—

 
3

 
4,146

 
4,149

 
1

Total guarantees
$
(279
)
 
27,402

 
19,502

 
7,912

 
16,442

 
71,258

 
33,698

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Standby letters of credit (1)
$
40

 
14,636

 
7,897

 
3,398

 
497

 
26,428

 
8,027

Securities lending and other indemnifications (2)
—

 
—

 
1

 
—

 
1,044

 
1,045

 
1

Written put options (3)
(185
)
 
17,243

 
10,502

 
3,066

 
400

 
31,211

 
21,732

Loans and MLHFS sold with recourse (4)
54

 
104

 
653

 
1,207

 
10,163

 
12,127

 
9,079

Factoring guarantees (5)
—

 
889

 
—

 
—

 
—

 
889

 
751

Other guarantees
1

 
—

 
—

 
3

 
2,959

 
2,962

 
1

Total guarantees
$
(90
)
 
32,872

 
19,053

 
7,674

 
15,063

 
74,662

 
39,591

(1)
Total maximum exposure to loss includes direct pay letters of credit (DPLCs) of $6.4 billion and $7.5 billion at June 30, 2019, and December 31, 2018, respectively.
(2)
Includes indemnifications provided to certain third-party clearing agents. Outstanding customer obligations under these arrangements were $90 million and $70 million with related collateral of $759 million and $974 million at June 30, 2019, and December 31, 2018, respectively.
(3)
Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 15 (Derivatives). Carrying value net asset position is a result of certain deferred premium option trades.
(4)
Represent recourse provided, predominantly to the GSEs, on loans sold under various programs and arrangements.
(5)
Consists of guarantees made under certain factoring arrangements to purchase trade receivables from third parties, generally upon their request, if receivable debtors default on their payment obligations.

“Maximum exposure to loss” and “Non-investment grade” are required disclosures under GAAP. Non-investment grade represents those guarantees on which we have a higher risk of performance under the terms of the guarantee. If the underlying assets under the guarantee are non-investment grade (that is, an external rating that is below investment grade or an internal credit default grade that is equivalent to a below investment grade external rating), we consider the risk of performance to be high. Internal credit default grades are determined based upon the same credit policies that we use to evaluate the risk of payment or performance when making loans and other extensions of credit. Credit quality indicators we usually consider in evaluating risk of payments or performance are described in Note 6 (Loans and Allowance for Credit Losses).
 
Maximum exposure to loss represents the estimated loss that would be incurred under an assumed hypothetical circumstance, despite what we believe is a remote possibility, where the value of our interests and any associated collateral declines to zero. Maximum exposure to loss estimates in Table 13.1 do not reflect economic hedges or collateral we could use to offset or recover losses we may incur under our guarantee agreements. Accordingly, this required disclosure is not an indication of expected loss. We believe the carrying value, which is either fair value for derivative-related products or the allowance for lending-related commitments, is more representative of our exposure to loss than maximum exposure to loss.


110
Note 13: Guarantees, Pledged Assets and Collateral, and Other Commitments (continued)

Pledged Assets
As part of our liquidity management strategy, we pledge various assets to secure trust and public deposits, borrowings and letters of credit from the Federal Home Loan Bank (FHLB) and FRB, securities sold under agreements to repurchase (repurchase agreements), securities lending arrangements, and for other purposes as required or permitted by law or insurance statutory requirements. The types of collateral we pledge include securities issued by federal agencies, GSEs, domestic and foreign companies and various commercial and consumer loans. Table 13.2 provides the total carrying amount of pledged assets
 
by asset type and the fair value of pledged off-balance sheet securities for securities financings. The table excludes pledged consolidated VIE assets of $14.0 billion and $14.1 billion at June 30, 2019, and December 31, 2018, respectively, which can only be used to settle the liabilities of those entities. The table also excludes $357 million and $617 million in assets pledged in transactions with VIE’s accounted for as secured borrowings at June 30, 2019, and December 31, 2018, respectively. See Note 10 (Securitizations and Variable Interest Entities) for additional information on consolidated VIE assets and secured borrowings.
Table 13.2: Pledged Assets
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Related to trading activities:
 
 
 
Debt securities
$
107,673

 
96,616

Equity securities
10,594

 
9,695

       Total pledged assets related to trading activities (1)
118,267

 
106,311

Related to non-trading activities:
 
 
 
Debt securities and other (2)
56,413

 
62,438

Mortgage loans held for sale and loans (3)
413,882

 
453,894

    Total pledged assets related to non-trading activities
470,295

 
516,332

Total pledged assets
$
588,562

 
622,643

(1)
Consists of pledged assets related to trading activities of $45.9 billion and $45.5 billion at June 30, 2019, and December 31, 2018, respectively and off-balance sheet securities of $72.3 billion and $60.8 billion as of the same dates, respectively, that are pledged as collateral for repurchase agreements and other securities financings. Total pledged assets related to trading activities includes $118.2 billion and $106.2 billion at June 30, 2019, and December 31, 2018, respectively, under agreements that permit the secured parties to sell or repledge the collateral.
(2)
Includes carrying value of $3.5 billion and $4.2 billion (fair value of $3.5 billion and $4.1 billion) in collateral for repurchase agreements at June 30, 2019, and December 31, 2018, respectively, which are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Also includes $33 million and $68 million in collateral pledged under repurchase agreements at June 30, 2019, and December 31, 2018, respectively, that permit the secured parties to sell or repledge the collateral. Substantially all other pledged securities are pursuant to agreements that do not permit the secured party to sell or repledge the collateral.
(3)
Includes mortgage loans held for sale of $2.0 billion and $7.4 billion at June 30, 2019, and December 31, 2018, respectively. Substantially all of the total mortgage loans held for sale and loans are pledged under agreements that do not permit the secured parties to sell or repledge the collateral. Amounts exclude $551 million and $1.2 billion at June 30, 2019, and December 31, 2018, respectively, of pledged loans recorded on our balance sheet representing certain delinquent loans that are eligible for repurchase from GNMA loan securitizations.

Securities Financing Activities
We enter into resale and repurchase agreements and securities borrowing and lending agreements (collectively, “securities financing activities”) typically to finance trading positions (including securities and derivatives), acquire securities to cover short trading positions, accommodate customers’ financing needs, and settle other securities obligations. These activities are conducted through our broker-dealer subsidiaries and to a lesser extent through other bank entities. Most of our securities financing activities involve high quality, liquid securities such as U.S. Treasury securities and government agency securities, and to a lesser extent, less liquid securities, including equity securities, corporate bonds and asset-backed securities. We account for these transactions as collateralized financings in which we typically receive or pledge securities as collateral. We believe these financing transactions generally do not have material credit risk given the collateral provided and the related monitoring processes.

 
OFFSETTING OF SECURITIES FINANCING ACTIVITIES Table 13.3 presents resale and repurchase agreements subject to master repurchase agreements (MRA) and securities borrowing and lending agreements subject to master securities lending agreements (MSLA). We account for transactions subject to these agreements as collateralized financings, and those with a single counterparty are presented net on our balance sheet, provided certain criteria are met that permit balance sheet netting. Most transactions subject to these agreements do not meet those criteria and thus are not eligible for balance sheet netting.
Collateral we pledged consists of non-cash instruments, such as securities or loans, and is not netted on the balance sheet against the related liability. Collateral we received includes securities or loans and is not recognized on our balance sheet. Collateral pledged or received may be increased or decreased over time to maintain certain contractual thresholds, as the assets underlying each arrangement fluctuate in value. Generally, these agreements require collateral to exceed the asset or liability recognized on the balance sheet. The following table includes the amount of collateral pledged or received related to exposures subject to enforceable MRAs or MSLAs. While these agreements are typically over-collateralized, U.S. GAAP requires disclosure in this table to limit the reported amount of such collateral to the amount of the related recognized asset or liability for each counterparty.

111

In addition to the amounts included in Table 13.3, we also have balance sheet netting related to derivatives that is disclosed in Note 15 (Derivatives).
Table 13.3: Offsetting – Securities Financing Activities
(in millions)
Jun 30,
2019

 
Dec 31,
2018

Assets:
 
 
 
Resale and securities borrowing agreements
 
 
 
Gross amounts recognized
$
146,096

 
112,662

Gross amounts offset in consolidated balance sheet (1)
(15,248
)
 
(15,258
)
Net amounts in consolidated balance sheet (2)
130,848

 
97,404

Collateral not recognized in consolidated balance sheet (3)
(130,082
)
 
(96,734
)
Net amount (4)
$
766

 
670

Liabilities:
 
 
 
Repurchase and securities lending agreements
 
 
 
Gross amounts recognized (5)
$
116,900

 
106,248

Gross amounts offset in consolidated balance sheet (1)
(15,248
)
 
(15,258
)
Net amounts in consolidated balance sheet (6)
101,652

 
90,990

Collateral pledged but not netted in consolidated balance sheet (7)
(101,476
)
 
(90,798
)
Net amount (8)
$
176

 
192

(1)
Represents recognized amount of resale and repurchase agreements with counterparties subject to enforceable MRAs that have been offset in the consolidated balance sheet.
(2)
Includes $112.1 billion and $80.1 billion classified on our consolidated balance sheet in federal funds sold and securities purchased under resale agreements at June 30, 2019, and December 31, 2018, respectively. Also includes securities purchased under long-term resale agreements (generally one year or more) classified in loans, which totaled $18.8 billion and $17.3 billion, at June 30, 2019, and December 31, 2018, respectively.
(3)
Represents the fair value of collateral we have received under enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. At June 30, 2019, and December 31, 2018, we have received total collateral with a fair value of $157.4 billion and $123.1 billion, respectively, all of which, we have the right to sell or repledge. These amounts include securities we have sold or repledged to others with a fair value of $73.4 billion at June 30, 2019, and $60.8 billion at December 31, 2018.
(4)
Represents the amount of our exposure that is not collateralized and/or is not subject to an enforceable MRA or MSLA.
(5)
For additional information on underlying collateral and contractual maturities, see the “Repurchase and Securities Lending Agreements” section in this Note.
(6)
Amount is classified in short-term borrowings on our consolidated balance sheet.
(7)
Represents the fair value of collateral we have pledged, related to enforceable MRAs or MSLAs, limited for table presentation purposes to the amount of the recognized liability owed to each counterparty. At June 30, 2019, and December 31, 2018, we have pledged total collateral with a fair value of $119.6 billion and $108.8 billion, respectively, of which, the counterparty does not have the right to sell or repledge $3.5 billion as of June 30, 2019 and $4.4 billion as of December 31, 2018.
(8)
Represents the amount of our obligation that is not covered by pledged collateral and/or is not subject to an enforceable MRA or MSLA.
REPURCHASE AND SECURITIES LENDING AGREEMENTS Securities sold under repurchase agreements and securities lending arrangements are effectively short-term collateralized 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. Most of our collateral 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 13.4 provides the gross amounts recognized on the balance sheet (before the effects of offsetting) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type.

112
Note 13: Guarantees, Pledged Assets and Collateral, and Other Commitments (continued)

Table 13.4: Underlying Collateral Types of Gross Obligations
(in millions)
 
Jun 30,
2019

 
Dec 31,
2018

Repurchase agreements:
 
 
 
 
Securities of U.S. Treasury and federal agencies
 
$
49,622

 
38,408

Securities of U.S. States and political subdivisions
 
97

 
159

Federal agency mortgage-backed securities
 
43,346

 
47,241

Non-agency mortgage-backed securities
 
1,754

 
1,875

Corporate debt securities
 
8,132

 
6,191

Asset-backed securities
 
2,258

 
2,074

Equity securities
 
2,034

 
992

Other
 
866

 
340

Total repurchases
 
108,109

 
97,280

Securities lending arrangements:
 
 
 
 
Securities of U.S. Treasury and federal agencies
 
198

 
222

Federal agency mortgage-backed securities
 
—

 
2

Corporate debt securities
 
483

 
389

Equity securities (1)
 
8,094

 
8,349

Other
 
16

 
6

Total securities lending
 
8,791

 
8,968

Total repurchases and securities lending
 
$
116,900

 
106,248

(1)
Equity securities are generally exchange traded and either re-hypothecated under margin lending agreements or obtained through contemporaneous securities borrowing transactions with other counterparties.
Table 13.5 provides the contractual maturities of our gross obligations under repurchase and securities lending agreements.
Table 13.5: Contractual Maturities of Gross Obligations
(in millions)
Overnight/continuous

 
Up to 30 days

 
30-90 days

 
>90 days

 
Total gross obligation

June 30, 2019
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
96,487

 
3,565

 
3,938

 
4,119

 
108,109

Securities lending arrangements
8,643

 
—

 
148

 
—

 
8,791

Total repurchases and securities lending (1)
$
105,130

 
3,565

 
4,086

 
4,119

 
116,900

December 31, 2018
 
Repurchase agreements
$
86,574

 
3,244

 
2,153

 
5,309

 
97,280

Securities lending arrangements
8,669

 
—

 
299

 
—

 
8,968

Total repurchases and securities lending (1)
$
95,243

 
3,244

 
2,452

 
5,309

 
106,248

(1)
Securities lending is executed under agreements that allow either party to terminate the transaction without notice, while repurchase agreements have a term structure to them that technically matures at a point in time. The overnight/continuous repurchase agreements require election of both parties to roll the trade rather than the election to terminate the arrangement as in securities lending.
OTHER COMMITMENTS To meet the financing needs of our customers, we may enter into commitments to purchase debt and equity securities to provide capital for their funding, liquidity or other future needs. As of June 30, 2019, and December 31, 2018, we had commitments to purchase debt securities of $212 million and $335 million, respectively, and commitments to purchase equity securities of $2.1 billion and $2.5 billion, respectively.
As part of maintaining our memberships in certain clearing organizations, we are required to stand ready to provide liquidity to sustain market clearing activity in the event unforeseen events occur or are deemed likely to occur. Certain of these obligations are guarantees of other members’ performance and accordingly are included in Other guarantees in Table 13.1.
Also, we have commitments to purchase securities under resale agreements from central clearing organizations. We do not have any outstanding amounts funded, and the amount of our unfunded contractual commitments was $5.1 billion and $9.8 billion as of June 30, 2019, and December 31, 2018, respectively. Given the nature of these commitments, they are
 
excluded from Table 6.4 (Unfunded Credit Commitments) in Note 6 (Loans and Allowance for Credit Losses).
The Parent fully and unconditionally guarantees the payment of principal, interest, and any other amounts that may be due on securities that its 100% owned finance subsidiary, Wells Fargo Finance LLC, may issue. These guaranteed liabilities were $545 million and $5 million at June 30, 2019 and December 31, 2018, respectively. These guarantees rank on parity with all of the Parent’s other unsecured and unsubordinated indebtedness.


113

Note 14: Legal Actions
Wells Fargo and certain of our subsidiaries are involved in a number of judicial, regulatory, governmental, arbitration, and other proceedings or investigations concerning matters arising from the conduct of our business activities, and many of those proceedings and investigations expose Wells Fargo to potential financial loss. These proceedings and investigations include actions brought against Wells Fargo and/or our subsidiaries with respect to corporate-related matters and transactions in which Wells Fargo and/or our subsidiaries were involved. In addition, Wells Fargo and our subsidiaries may be requested to provide information or otherwise cooperate with government authorities in the conduct of investigations of other persons or industry groups.
Although there can be no assurance as to the ultimate outcome, Wells Fargo and/or our subsidiaries have generally denied, or believe we have a meritorious defense and will deny, liability in all significant legal actions pending against us, including the matters described below, and we intend to defend vigorously each case, other than matters we describe as having settled. We establish accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. For such accruals, we record the amount we consider to be the best estimate within a range of potential losses that are both probable and estimable; however, if we cannot determine a best estimate, then we record the low end of the range of those potential losses. The actual costs of resolving legal actions may be substantially higher or lower than the amounts accrued for those actions.
ATM ACCESS FEE LITIGATION In October 2011, plaintiffs filed a putative class action, Mackmin, et al. v. Visa, Inc. et al., against Wells Fargo & Company, Wells Fargo Bank, N.A., Visa, MasterCard, and several other banks in the United States District Court for the District of Columbia. Plaintiffs allege that the Visa and MasterCard requirement that if an ATM operator charges an access fee on Visa and MasterCard transactions, then that fee cannot be greater than the access fee charged for transactions on other networks, violates antitrust rules. Plaintiffs seek treble damages, restitution, injunctive relief, and attorneys’ fees where available under federal and state law. Two other antitrust cases that make similar allegations were filed in the same court, but these cases did not name Wells Fargo as a defendant. On February 13, 2013, the district court granted defendants’ motions to dismiss the three actions. Plaintiffs appealed the dismissals and, on August 4, 2015, the United States Court of Appeals for the District of Columbia Circuit vacated the district court’s decisions and remanded the three cases to the district court for further proceedings. On June 28, 2016, the United States Supreme Court granted defendants’ petitions for writ of certiorari to review the decisions of the United States Court of Appeals for the District of Columbia. On November 17, 2016, the United States Supreme Court dismissed the petitions as improvidently granted, and the three cases returned to the district court for further proceedings.
AUTOMOBILE LENDING MATTERS On April 20, 2018, the Company entered into consent orders with the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) to resolve, among other things, investigations by the agencies into the Company’s compliance risk management program and its past practices involving certain automobile collateral protection insurance (CPI) policies and, as
 
discussed below, certain mortgage interest rate lock extensions. The consent orders require remediation to customers and the payment of a total of $1.0 billion in civil money penalties to the agencies. In July 2017, the Company announced a plan to remediate customers who may have been financially harmed due to issues related to automobile CPI policies purchased through a third-party vendor on their behalf. Multiple putative class action cases alleging, among other things, unfair and deceptive practices relating to these CPI policies, have been filed against the Company and consolidated into one multi-district litigation in the United States District Court for the Central District of California. The Company has reached an agreement in principle to resolve the multi-district litigation pursuant to which the Company has agreed to pay, consistent with its remediation obligations under the consent orders, approximately $424 million in remediation to customers with CPI policies placed between October 15, 2005, and September 30, 2016. The settlement amount is not incremental to the Company’s remediation obligations under the consent orders, but instead encompasses those obligations, including remediation payments to date. The settlement amount is subject to change as the Company finalizes its remediation activity under the consent orders. In addition, the Company has agreed to contribute $1 million to a common fund for the class. The district court scheduled a preliminary approval hearing for August 5, 2019. A putative class of shareholders also filed a securities fraud class action against the Company and its executive officers alleging material misstatements and omissions of CPI-related information in the Company’s public disclosures. Former team members have also alleged retaliation for raising concerns regarding automobile lending practices. In addition, the Company has identified certain issues related to the unused portion of guaranteed automobile protection (GAP) waiver or insurance agreements between the customer and dealer and, by assignment, the lender, which will require remediation to customers in certain states. The Company is subject to a class action lawsuit in the United States District Court for the Central District of California alleging that customers are entitled to refunds in all states. Allegations related to the CPI and GAP programs are among the subjects of shareholder derivative lawsuits pending in federal and state court in California. The court dismissed the state court action in September 2018, but plaintiffs filed an amended complaint in November 2018. The parties to the state court action have entered into an agreement to resolve the action pursuant to which the Company will pay plaintiffs’ attorneys’ fees and undertake certain business and governance practices. The court granted preliminary approval of the settlement on July 12, 2019, and scheduled a final approval hearing for October 9, 2019. These and other issues related to the origination, servicing, and collection of consumer automobile loans, including related insurance products, have also subjected the Company to formal or informal inquiries, investigations, or examinations from federal and state government agencies. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million.


114
Note 14: Legal Actions (continued)

CONSUMER DEPOSIT ACCOUNT RELATED REGULATORY INVESTIGATION The CFPB is conducting an investigation into whether customers were unduly harmed by the Company’s historical practices associated with the freezing (and, in many cases, closing) of consumer deposit accounts after the Company detected suspected fraudulent activity (by third parties or account holders) that affected those accounts. A former team member has brought a state court action alleging retaliation for raising concerns about these practices.
FIDUCIARY AND CUSTODY ACCOUNT FEE CALCULATIONS Federal government agencies are conducting formal or informal inquiries, investigations, or examinations regarding fee calculations within certain fiduciary and custody accounts in the Company’s investment and fiduciary services business, which is part of the wealth management business within the Wealth and Investment Management (WIM) operating segment. The Company has determined that there have been instances of incorrect fees being applied to certain assets and accounts, resulting in both overcharges and undercharges to customers.
FOREIGN EXCHANGE BUSINESS Federal government agencies, including the United States Department of Justice (Department of Justice), are investigating or examining certain activities in the Company’s foreign exchange business. These matters are at varying stages. The Company has responded, and continues to respond, to requests from a number of the foregoing and has discussed the potential resolution of some of the matters. The Company is in the process of providing remediation to customers that may have received pricing inconsistent with commitments made to those customers, and rebates to customers where historic pricing, while consistent with contracts entered into with those customers, does not conform to recently implemented pricing review standards for prior periods.
INTERCHANGE LITIGATION  Plaintiffs representing a putative class of merchants have filed putative class actions, and individual merchants have filed individual actions, against Wells Fargo Bank, N.A., Wells Fargo & Company, Wachovia Bank, N.A., and Wachovia Corporation regarding the interchange fees associated with Visa and MasterCard payment card transactions. Visa, MasterCard, and several other banks and bank holding companies are also named as defendants in these actions. These actions have been consolidated in the United States District Court for the Eastern District of New York. The amended and consolidated complaint asserts claims against defendants based on alleged violations of federal and state antitrust laws and seeks damages, as well as injunctive relief. Plaintiff merchants allege that Visa, MasterCard, and payment card issuing banks unlawfully colluded to set interchange rates. Plaintiffs also allege that enforcement of certain Visa and MasterCard rules and alleged tying and bundling of services offered to merchants are anticompetitive. Wells Fargo and Wachovia, along with other defendants and entities, are parties to Loss and Judgment Sharing Agreements, which provide that they, along with other entities, will share, based on a formula, in any losses from the Interchange Litigation. On July 13, 2012, Visa, MasterCard, and the financial institution defendants, including Wells Fargo, signed a memorandum of understanding with plaintiff merchants to resolve the consolidated class action and reached a separate settlement in principle of the consolidated individual actions. The settlement payments to be made by all defendants in the consolidated class and individual actions totaled approximately $6.6 billion before reductions applicable to certain merchants opting out of the settlement. The class settlement also provided
 
for the distribution to class merchants of 10 basis points of default interchange across all credit rate categories for a period of eight consecutive months. The district court granted final approval of the settlement, which was appealed to the United States Court of Appeals for the Second Circuit by settlement objector merchants. Other merchants opted out of the settlement and are pursuing several individual actions. On June 30, 2016, the Second Circuit vacated the settlement agreement and reversed and remanded the consolidated action to the United States District Court for the Eastern District of New York for further proceedings. On November 23, 2016, prior class counsel filed a petition to the United States Supreme Court, seeking review of the reversal of the settlement by the Second Circuit, and the Supreme Court denied the petition on March 27, 2017. On November 30, 2016, the district court appointed lead class counsel for a damages class and an equitable relief class. The parties have entered into a settlement agreement to resolve the money damages class claims pursuant to which defendants will pay a total of approximately $6.2 billion, which includes approximately $5.3 billion of funds remaining from the 2012 settlement and $900 million in additional funding. The Company’s allocated responsibility for the additional funding is approximately $94.5 million. The court granted preliminary approval of the settlement in January 2019, and scheduled a final approval hearing for November 7, 2019. Several of the opt-out and direct action litigations were settled during the pendency of the Second Circuit appeal while others remain pending. Discovery is proceeding in the opt-out litigations and the equitable relief class case.
LOW INCOME HOUSING TAX CREDITS Federal government agencies have undertaken formal or informal inquiries or investigations regarding the manner in which the Company purchased, and negotiated the purchase of, certain federal low income housing tax credits in connection with the financing of low income housing developments.

MOBILE DEPOSIT PATENT LITIGATION  The Company is a defendant in two separate cases brought by United Services Automobile Association (USAA) in the United States District Court for the Eastern District of Texas alleging claims of patent infringement regarding mobile deposit capture technology patents held by USAA. Trial in the first case is scheduled for November 2019 and trial in the second case is scheduled for January 2020.
MORTGAGE INTEREST RATE LOCK MATTERS On April 20, 2018, the Company entered into consent orders with the OCC and CFPB to resolve, among other things, investigations by the agencies into the Company’s compliance risk management program and its past practices involving certain automobile CPI policies and certain mortgage interest rate lock extensions. The consent orders require remediation to customers and the payment of a total of $1.0 billion in civil money penalties to the agencies. The Company was named in a putative class action, filed in the United States District Court for the Northern District of California, alleging violations of federal and state consumer fraud statutes relating to mortgage rate lock extension fees. The Company filed a motion to dismiss and the court granted the motion. Subsequently, a putative class action was filed in the United States District Court for the District of Oregon, raising similar allegations. The Company filed a motion to dismiss this action and the court granted the motion. In addition, former team members have asserted claims, including in pending litigation, that they were terminated for raising concerns

115

regarding mortgage interest rate lock extension practices. Allegations related to mortgage interest rate lock extension fees are also among the subjects of two shareholder derivative lawsuits consolidated in California state court. The parties have entered into an agreement to resolve the state court action pursuant to which the Company will pay plaintiffs’ attorneys’ fees and undertake certain business and governance practices. The court granted preliminary approval of the settlement on July 12, 2019, and scheduled a final approval hearing for October 9, 2019. This matter has also subjected the Company to formal or informal inquiries, investigations or examinations from other federal and state government agencies. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million.
MORTGAGE LOAN MODIFICATION LITIGATION Plaintiffs representing a putative class of mortgage borrowers have filed separate putative class actions, Hernandez v. Wells Fargo, et al., and Coordes v. Wells Fargo, et al., against Wells Fargo Bank, N.A. in the United States District Court for the Northern District of California and the United States District Court for the District of Washington, respectively. Plaintiffs allege that Wells Fargo improperly denied mortgage loan modifications or repayment plans to customers in the foreclosure process due to the overstatement of foreclosure attorneys’ fees that were included for purposes of determining whether a customer in the foreclosure process qualified for a mortgage loan modification or repayment plan.
MORTGAGE-RELATED REGULATORY INVESTIGATIONS Federal and state government agencies, including the Department of Justice, have been investigating or examining certain mortgage related activities of Wells Fargo and predecessor institutions. Wells Fargo, for itself and for predecessor institutions, has responded, or continues to respond, to requests from these agencies seeking information regarding the origination, underwriting, and securitization of residential mortgages, including sub-prime mortgages. These agencies have advanced theories of purported liability with respect to certain of these activities. An agreement, pursuant to which the Company paid $2.09 billion, was reached in August 2018 to resolve the Department of Justice investigation, which related to certain 2005-2007 residential mortgage-backed securities activities. In addition, the Company reached an agreement with the Attorney General of the State of Illinois in November 2018 pursuant to which the Company paid $17 million in restitution to certain Illinois state pension funds to resolve a claim relating to certain residential mortgage-backed securities activities. Other financial institutions have entered into similar settlements with these agencies, the nature of which related to the specific activities of those financial institutions, including the imposition of significant financial penalties and remedial actions.
OFAC RELATED INVESTIGATION The Company has self-identified an issue whereby certain foreign banks utilized a Wells Fargo software-based solution to conduct import/export trade-related financing transactions with countries and entities prohibited by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury. We do not believe any funds related to these transactions flowed through accounts at Wells Fargo as a result of the aforementioned conduct. The
 
Company has made voluntary self-disclosures to OFAC and is cooperating with an inquiry from the Department of Justice.
ORDER OF POSTING LITIGATION  Plaintiffs filed a series of putative class actions against Wachovia Bank, N.A. and Wells Fargo Bank, N.A., as well as many other banks, challenging the “high to low” order in which the banks post debit card transactions to consumer deposit accounts. Most of these actions were consolidated in multi-district litigation proceedings (MDL proceedings) in the United States District Court for the Southern District of Florida. The court in the MDL proceedings has certified a class of putative plaintiffs, and Wells Fargo moved to compel arbitration of the claims of unnamed class members. The court denied the motions to compel arbitration in October 2016, and Wells Fargo appealed this decision to the United States Court of Appeals for the Eleventh Circuit. In May 2018, the Eleventh Circuit ruled in Wells Fargo’s favor and found that Wells Fargo had not waived its arbitration rights and remanded the case to the district court for further proceedings. Plaintiffs filed a petition for rehearing to the Eleventh Circuit, which was denied in August 2018. Plaintiffs petitioned for certiorari from the United States Supreme Court, and that petition was denied in January 2019. The case has returned to the district court for further proceedings.
RETAIL SALES PRACTICES MATTERS Federal, state, and local government agencies, including the Department of Justice, the United States Securities and Exchange Commission (SEC), and the United States Department of Labor; state attorneys general, including the New York Attorney General; and prosecutors’ offices, as well as Congressional committees, have undertaken formal or informal inquiries, investigations or examinations arising out of certain retail sales practices of the Company that were the subject of settlements with the CFPB, the OCC, and the Office of the Los Angeles City Attorney announced by the Company on September 8, 2016. These matters are at varying stages. The Company has responded, and continues to respond, to requests from a number of the foregoing. In October 2018, the Company entered into an agreement to resolve the New York Attorney General’s investigation pursuant to which the Company paid $65 million to the State of New York. In December 2018, the Company entered into an agreement with all 50 state Attorneys General and the District of Columbia to resolve an investigation into the Company’s retail sales practices, CPI and GAP, and mortgage interest rate lock matters, pursuant to which the Company paid $575 million. The Company has also engaged in preliminary and/or exploratory resolution discussions with the Department of Justice and the SEC, although there can be no assurance as to the outcome of these discussions.
In addition, a number of lawsuits have also been filed by non-governmental parties seeking damages or other remedies related to these retail sales practices. First, various class plaintiffs purporting to represent consumers who allege that they received products or services without their authorization or consent have brought separate putative class actions against the Company in the United States District Court for the Northern District of California and various other jurisdictions. In April 2017, the Company entered into a settlement agreement in the first-filed action, Jabbari v. Wells Fargo Bank, N.A., to resolve claims regarding certain products or services provided without authorization or consent for the time period May 1, 2002 to April 20, 2017. Pursuant to the settlement, the Company will pay $142 million for remediation, attorneys’ fees, and settlement fund

116
Note 14: Legal Actions (continued)

claims administration. In the unlikely event that the $142 million settlement total is not enough to provide remediation, pay attorneys’ fees, pay settlement fund claims administration costs, and have at least $25 million left over to distribute to all class members, the Company will contribute additional funds to the settlement. In addition, in the unlikely event that the number of unauthorized accounts identified by settlement class members in the claims process and not disputed by the claims administrator exceeds plaintiffs’ 3.5 million account estimate, the Company will proportionately increase the $25 million reserve so that the ratio of reserve to unauthorized accounts is no less than what was implied by plaintiffs’ estimate at the time of the district court’s preliminary approval of the settlement in July 2017. The district court issued an order granting final approval of the settlement on June 14, 2018. Several appeals of the district court’s order granting final approval of the settlement have been filed with the United States Court of Appeals for the Ninth Circuit. Second, Wells Fargo shareholders brought a consolidated securities fraud class action in the United States District Court for the Northern District of California alleging certain misstatements and omissions in the Company’s disclosures related to sales practices matters. The Company entered into a settlement agreement to resolve this matter pursuant to which the Company paid $480 million. The district court issued an order granting final approval of the settlement on December 20, 2018. Third, Wells Fargo shareholders have brought numerous shareholder derivative lawsuits asserting breach of fiduciary duty claims, among others, against current and former directors and officers for their alleged involvement with and failure to detect and prevent sales practices issues. These actions are currently pending in the United States District Court for the Northern District of California and California state court for coordinated proceedings. An additional lawsuit asserting similar claims pending in Delaware state court has been stayed. The parties have entered into settlement agreements to resolve the shareholder derivative lawsuits pursuant to which insurance carriers will pay the Company approximately $240 million for alleged damage to the Company, and the Company will pay plaintiffs’ attorneys’ fees. Preliminary approval of the settlements has been granted, and the federal court held a final approval hearing on August 1, 2019, and the state court scheduled a final approval hearing for October 9, 2019. Fourth, multiple employment litigation matters have been brought against Wells Fargo, including an Employee Retirement Income Security Act (ERISA) class action in the United States District Court for the District of Minnesota on behalf of 401(k) plan participants that has been dismissed and is now on appeal; a class action in the United States District Court for the Northern District of California on behalf of team members who allege that they protested sales practice misconduct and/or were terminated for not meeting sales goals that has now been dismissed, and we have entered into a framework with plaintiffs’ counsel to address individual claims that have been asserted; various wage and hour class actions brought in federal and state court in California and Pennsylvania (which have been settled), and in New Jersey on behalf of non-exempt branch based team members alleging that sales pressure resulted in uncompensated overtime; and multiple single plaintiff Sarbanes-Oxley Act complaints and state law whistleblower actions filed with the United States Department of Labor or in various state courts alleging adverse employment actions for raising sales practice misconduct issues.
RMBS TRUSTEE LITIGATION In November 2014, a group of institutional investors (Institutional Investor Plaintiffs), including funds affiliated with BlackRock, Inc., filed a putative
 
class action in the United States District Court for the Southern District of New York against Wells Fargo Bank, N.A., alleging claims against the Company in its capacity as trustee for a number of residential mortgage-backed securities (RMBS) trusts (Federal Court Complaint). Similar complaints have been filed against other trustees in various courts, including in the Southern District of New York, in New York state court, and in other states, by RMBS investors. The Federal Court Complaint alleged that Wells Fargo Bank, N.A., as trustee, caused losses to investors and asserted causes of action based upon, among other things, the trustee’s alleged failure to notify and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, notify investors of alleged events of default, and abide by appropriate standards of care following alleged events of default. Plaintiffs sought money damages in an unspecified amount, reimbursement of expenses, and equitable relief. In December 2014 and December 2015, certain other investors filed four complaints alleging similar claims against Wells Fargo Bank, N.A. in the Southern District of New York (Related Federal Cases). In January 2016, the Southern District of New York entered an order in connection with the Federal Court Complaint dismissing claims related to certain of the trusts at issue (Dismissed Trusts). The Company’s subsequent motion to dismiss the Federal Court Complaint and the complaints for the Related Federal Cases was granted in part and denied in part in March 2017. In May 2017, the Company filed third-party complaints against certain investment advisors affiliated with the Institutional Investor Plaintiffs seeking contribution with respect to claims alleged in the Federal Court Complaint (Third-Party Claims).
In December 2016, the Institutional Investor Plaintiffs filed a new putative class action complaint in New York state court in respect of 261 RMBS trusts, including the Dismissed Trusts, for which Wells Fargo Bank, N.A. serves or served as trustee (State Court Action). A complaint raising similar allegations to those in the Federal Court Complaint was filed in May 2016 in New York state court by IKB International and IKB Deutsche Industriebank (IKB Action).
In July 2017, certain of the plaintiffs from the State Court Action filed a civil complaint relating to Wells Fargo Bank, N.A.’s setting aside reserves for legal fees and expenses in connection with the liquidation of eleven RMBS trusts at issue in the State Court Action (Declaratory Judgment Action). The complaint sought, among other relief, declarations that the Company is not entitled to indemnification, the advancement of funds, or the taking of reserves from trust funds for legal fees and expenses it incurs in defending the claims in the State Court Action.
In May 2019, the New York state court approved a settlement agreement among the Institutional Investor Plaintiffs and the Company pursuant to which, among other terms, the Company paid $43 million to resolve the Federal Court Complaint and the State Court Action. The settlement also resolved the Third Party Claims and the Declaratory Judgment Action. The settlement did not affect the Related Federal Cases or the IKB Action, which remain pending.

SEMINOLE TRIBE TRUSTEE LITIGATION The Seminole Tribe of Florida filed a complaint in Florida state court alleging that Wells Fargo, as trustee, charged excess fees in connection with the administration of a minor’s trust and failed to invest the assets of the trust prudently. The complaint was later amended to include three individual current and former beneficiaries as plaintiffs and to remove the Tribe as a party to the case. In December 2016, the Company filed a motion to dismiss the

117

amended complaint on the grounds that the Tribe is a necessary party and that the individual beneficiaries lack standing to bring claims. The motion was denied in June 2018. Trial is scheduled for February 2020.
WHOLESALE BANKING CONSENT ORDER INVESTIGATION On November 19, 2015, the Company entered into a consent order with the OCC, pursuant to which the Wholesale Banking group was required to implement customer due diligence standards that include collection of current beneficial ownership information for certain business customers. The Company is responding to inquiries from various federal government agencies regarding potentially inappropriate conduct in connection with the collection of beneficial ownership information.
OUTLOOK  As described above, the Company establishes accruals for legal actions when potential losses associated with the actions become probable and the costs can be reasonably estimated. The high end of the range of reasonably possible potential losses in excess of the Company’s accrual for probable and estimable losses was approximately $3.9 billion as of June 30, 2019. The increase in the high end of the range from March 31, 2019, was due to a variety of matters, including retail sales practices matters. The outcomes of legal actions are unpredictable and subject to significant uncertainties, and it is inherently difficult to determine whether any loss is probable or even possible. It is also inherently difficult to estimate the amount of any loss and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Accordingly, actual losses may be in excess of the established accrual or the range of reasonably possible loss. Wells Fargo is unable to determine whether the ultimate resolution of the retail sales practices matters will have a material adverse effect on its consolidated financial condition. Based on information currently available, advice of counsel, available insurance coverage, and established reserves, Wells Fargo believes that the eventual outcome of other actions against Wells Fargo and/or its subsidiaries will not, individually or in the aggregate, have a material adverse effect on Wells Fargo’s consolidated financial condition. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to Wells Fargo’s results of operations for any particular period.


118
Note 15: Derivatives (continued)

Note 15: Derivatives
We use derivatives to manage exposure to market risk, including interest rate risk, credit risk and foreign currency risk, and to assist customers with their risk management objectives. We designate certain derivatives as hedging instruments in a qualifying hedge accounting relationship (fair value or cash flow hedge). Our remaining derivatives consist of economic hedges that do not qualify for hedge accounting, and derivatives held for customer accommodation trading or other purposes. For more information on our derivative activities, see Note 17 (Derivatives) in our 2018 Form 10-K.
 
Table 15.1 presents the total notional or contractual amounts and fair values for our derivatives. Derivative transactions can be measured in terms of the notional amount, but this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged but is used only as the basis on which interest and other payments are determined.
Table 15.1: Notional or Contractual Amounts and Fair Values of Derivatives
 
June 30, 2019
 
 
December 31, 2018
 
 
Notional or
contractual
amount

 
 
 
Fair value

 
Notional or
contractual
amount

 
 
 
Fair value

(in millions)
 
Derivative
assets

 
Derivative
liabilities

 
 
Derivative
assets

 
Derivative
liabilities

Derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
186,206

 
2,559

 
1,368

 
177,511

 
2,237

 
636

Foreign exchange contracts (1)
33,439

 
540

 
1,162

 
34,176

 
573

 
1,376

Total derivatives designated as qualifying hedging instruments
 
 
3,099

 
2,530

 
 
 
2,810

 
2,012

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
Economic hedges:
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts (2)
255,760

 
692

 
290

 
173,215

 
849

 
369

Equity contracts
17,374

 
1,213

 
658

 
13,920

 
1,362

 
79

Foreign exchange contracts
20,829

 
212

 
85

 
19,521

 
225

 
80

Credit contracts – protection purchased
220

 
38

 
—

 
100

 
27

 
—

Subtotal
 
 
2,155

 
1,033

 
 
 
2,463

 
528

Customer accommodation trading and other derivatives:
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
11,130,569

 
22,302

 
18,979

 
9,162,821

 
15,349

 
15,303

Commodity contracts
72,255

 
1,424

 
1,936

 
66,173

 
1,588

 
2,336

Equity contracts
246,045

 
6,164

 
8,520

 
217,890

 
6,183

 
5,931

Foreign exchange contracts
353,918

 
4,803

 
5,021

 
364,982

 
5,916

 
5,657

Credit contracts – protection sold
10,507

 
15

 
80

 
11,741

 
76

 
182

Credit contracts – protection purchased
20,784

 
88

 
17

 
20,880

 
175

 
98

Subtotal
 
 
34,796

 
34,553

 
 
 
29,287

 
29,507

Total derivatives not designated as hedging instruments
 
 
36,951

 
35,586

 
 
 
31,750

 
30,035

Total derivatives before netting
 
 
40,050

 
38,116

 
 
 
34,560

 
32,047

Netting (3)
 
 
(26,888
)
 
(29,717
)
 
 
 
(23,790
)
 
(23,548
)
Total
 
 
$
13,162

 
8,399

 
 
 
10,770

 
8,499

(1)
The notional amount for foreign exchange contracts at June 30, 2019, and December 31, 2018, excludes $10.0 billion and $11.2 billion, respectively, for certain derivatives that are combined for designation as a hedge on a single instrument.
(2)
Includes economic hedge derivatives used to hedge the risk of changes in the fair value of residential MSRs, MLHFS, loans, derivative loan commitments and other interests held.
(3)
Represents balance sheet netting of derivative asset and liability balances, related cash collateral and portfolio level counterparty valuation adjustments. See Table 15.2 for further information.

119

Table 15.2 provides information on the gross fair values of derivative assets and liabilities, the balance sheet netting adjustments and the resulting net fair value amount recorded on our balance sheet, as well as the non-cash collateral associated with such arrangements. We execute substantially all of our derivative transactions under master netting arrangements and reflect all derivative balances and related cash collateral subject to enforceable master netting arrangements on a net basis within the balance sheet. The “Gross amounts recognized” column in the following table includes $35.1 billion and $34.9 billion of gross derivative assets and liabilities, respectively, at June 30, 2019, and $30.9 billion and $28.4 billion, respectively, at December 31, 2018, with counterparties subject to enforceable master netting arrangements that are carried on the balance sheet net of offsetting amounts. The remaining gross derivative assets and liabilities of $5.0 billion and $3.2 billion, respectively, at June 30, 2019, and $3.7 billion and $3.6 billion, respectively, at December 31, 2018, include those with counterparties subject to master netting arrangements for which we have not assessed the enforceability because they are with counterparties where we do not currently have positions to offset, those subject to master netting arrangements where we have not been able to confirm the enforceability and those not subject to master netting arrangements. As such, we do not net derivative balances or collateral within the balance sheet for these counterparties.
We determine the balance sheet netting adjustments based on the terms specified within each master netting arrangement. We disclose the balance sheet netting amounts within the column titled “Gross amounts offset in consolidated balance sheet.” Balance sheet netting adjustments are determined at the counterparty level for which there may be multiple contract types. For disclosure purposes, we allocate these netting adjustments to the contract type for each counterparty proportionally based upon the “Gross amounts recognized” by counterparty. As a result, the net amounts disclosed by contract type may not represent the actual exposure upon settlement of the contracts.
 
We do not net non-cash collateral that we receive and pledge on the balance sheet. For disclosure purposes, we present the fair value of this non-cash collateral in the column titled “Gross amounts not offset in consolidated balance sheet (Disclosure-only netting)” within the table. We determine and allocate the Disclosure-only netting amounts in the same manner as balance sheet netting amounts.
The “Net amounts” column within Table 15.2 represents the aggregate of our net exposure to each counterparty after considering the balance sheet and Disclosure-only netting adjustments. We manage derivative exposure by monitoring the credit risk associated with each counterparty using counterparty specific credit risk limits, using master netting arrangements and obtaining collateral. Derivative contracts executed in over-the-counter markets include bilateral contractual arrangements that are not cleared through a central clearing organization but are typically subject to master netting arrangements. The percentage of our bilateral derivative transactions outstanding at period end in such markets, based on gross fair value, is provided within the following table. Other derivative contracts executed in over-the-counter or exchange-traded markets are settled through a central clearing organization and are excluded from this percentage. In addition to the netting amounts included in the table, we also have balance sheet netting related to resale and repurchase agreements that are disclosed within Note 13 (Guarantees, Pledged Assets and Collateral, and Other Commitments).

120
Note 15: Derivatives (continued)

Table 15.2: Gross Fair Values of Derivative Assets and Liabilities
(in millions)
Gross
amounts
recognized

 
Gross amounts
offset in
consolidated
balance
sheet (1)

 
Net amounts in
consolidated
balance
sheet

 
Gross amounts
not offset in
consolidated
balance sheet
(Disclosure-only
netting) (2)

 
Net
amounts

 
Percent
exchanged in
over-the-counter
market (3)

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
25,553

 
(16,558
)
 
8,995

 
(313
)
 
8,682

 
95
%
Commodity contracts
1,424

 
(951
)
 
473

 
(1
)
 
472

 
73

Equity contracts
7,377

 
(5,041
)
 
2,336

 
(34
)
 
2,302

 
71

Foreign exchange contracts
5,555

 
(4,250
)
 
1,305

 
(8
)
 
1,297

 
100

Credit contracts – protection sold
15

 
(9
)
 
6

 
—

 
6

 
74

Credit contracts – protection purchased
126

 
(79
)
 
47

 
(1
)
 
46

 
99

Total derivative assets
$
40,050

 
(26,888
)
 
13,162

 
(357
)
 
12,805

 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
20,637

 
(18,046
)
 
2,591

 
(848
)
 
1,743

 
95
%
Commodity contracts
1,936

 
(738
)
 
1,198

 
—

 
1,198

 
81

Equity contracts
9,178

 
(5,934
)
 
3,244

 
(214
)
 
3,030

 
84

Foreign exchange contracts
6,268

 
(4,918
)
 
1,350

 
(197
)
 
1,153

 
100

Credit contracts – protection sold
80

 
(75
)
 
5

 
(3
)
 
2

 
99

Credit contracts – protection purchased
17

 
(6
)
 
11

 
—

 
11

 
98

Total derivative liabilities
$
38,116

 
(29,717
)
 
8,399

 
(1,262
)
 
7,137

 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
18,435

 
(12,029
)
 
6,406

 
(80
)
 
6,326

 
90
%
Commodity contracts
1,588

 
(849
)
 
739

 
(4
)
 
735

 
57

Equity contracts
7,545

 
(5,318
)
 
2,227

 
(755
)
 
1,472

 
78

Foreign exchange contracts
6,714

 
(5,355
)
 
1,359

 
(35
)
 
1,324

 
100

Credit contracts – protection sold
76

 
(73
)
 
3

 
—

 
3

 
12

Credit contracts – protection purchased
202

 
(166
)
 
36

 
(1
)
 
35

 
78

Total derivative assets
$
34,560

 
(23,790
)
 
10,770

 
(875
)
 
9,895

 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
16,308

 
(13,152
)
 
3,156

 
(567
)
 
2,589

 
92
%
Commodity contracts
2,336

 
(727
)
 
1,609

 
(8
)
 
1,601

 
85

Equity contracts
6,010

 
(3,877
)
 
2,133

 
(110
)
 
2,023

 
75

Foreign exchange contracts
7,113

 
(5,522
)
 
1,591

 
(188
)
 
1,403

 
100

Credit contracts – protection sold
182

 
(180
)
 
2

 
(2
)
 
—

 
67

Credit contracts – protection purchased
98

 
(90
)
 
8

 
—

 
8

 
11

Total derivative liabilities
$
32,047

 
(23,548
)
 
8,499

 
(875
)
 
7,624

 
 
(1)
Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in the consolidated balance sheet, including related cash collateral and portfolio level counterparty valuation adjustments. Counterparty valuation adjustments were $301 million and $353 million related to derivative assets and $92 million and $152 million related to derivative liabilities at June 30, 2019, and December 31, 2018, respectively. Cash collateral totaled $3.6 billion and $6.6 billion, netted against derivative assets and liabilities, respectively, at June 30, 2019, and $3.7 billion and $3.6 billion, respectively, at December 31, 2018.
(2)
Represents the fair value of non-cash collateral pledged and received against derivative assets and liabilities with the same counterparty that are subject to enforceable master netting arrangements. U.S. GAAP does not permit netting of such non-cash collateral balances in the consolidated balance sheet but requires disclosure of these amounts.
(3)
Over-the-counter percentages are calculated based on gross amounts recognized as of the respective balance sheet date.
Fair Value and Cash Flow Hedges
For fair value hedges, we use interest rate swaps to convert certain of our fixed-rate long-term debt and time certificates of deposit to floating rates to hedge our exposure to interest rate risk. We also enter into cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge our exposure to foreign currency risk and interest rate risk associated with the issuance of non-U.S. dollar denominated long-term debt. In addition, we use interest rate swaps, cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge against changes in fair value of certain investments in available-for-sale debt securities due to changes in interest rates, foreign currency rates, or both. We also use interest rate swaps to hedge
 
against changes in fair value for certain mortgage loans held for sale.
For cash flow hedges, we use interest rate swaps to hedge the variability in interest payments received on certain floating-rate commercial loans and paid on certain floating-rate debt due to changes in the contractually specified interest rate.
We estimate $247 million pre-tax of deferred net losses related to cash flow hedges in OCI at June 30, 2019, will be reclassified into net interest income during the next twelve months. The deferred losses expected to be reclassified into net interest income are predominantly related to discontinued hedges of floating rate loans. For cash flow hedges as of June 30, 2019, we are hedging the variability of future cash flows for a maximum of 7 years. For more information on our accounting

121

hedges, see Note 1 (Summary of Significant Accounting Policies) and Note 16 (Derivatives) in our 2018 Form 10-K.
Table 15.3 shows the net gains (losses) related to derivatives in fair value and cash flow hedging relationships.
Table 15.3: Gains (Losses) Recognized in Consolidated Statement of Income on Fair Value and Cash Flow Hedging Relationships
 
Net interest income
 
 
Noninterest income

 
(in millions)
Debt securities

Loans

Mortgage loans held for sale

Deposits

Long-term debt

 
Other

Total

Quarter ended June 30, 2019
 
 
 
 
 
 
 
 
Total amounts presented in the consolidated statement of income
$
3,781

11,316

195

(2,213
)
(1,900
)
 
744

11,923

 
 
 
 
 
 
 
 
 
Gains (losses) on fair value hedging relationships
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)
14

—

—

(7
)
7

 
—

14

Recognized on derivatives
(1,089
)
—

(25
)
351

2,947

 
—

2,184

Recognized on hedged items
1,096

—

24

(343
)
(2,890
)
 
—

(2,113
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)(2)
10

—

—

—

(128
)
 
—

(118
)
Recognized on derivatives (3)
(5
)
—

—

—

205

 
326

526

Recognized on hedged items
4

—

—

—

(186
)
 
(315
)
(497
)
Net income (expense) recognized on fair value hedges
30

—

(1
)
1

(45
)
 
11

(4
)
 
 
 
 
 
 
 
 
 
Gains (losses) on cash flow hedging relationships
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

(77
)
—

—

1

 
—

(76
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
$
—

—

—

—

(3
)
 
—

(3
)
Net income (expense) recognized on cash flow hedges
$
—

(77
)
—

—

(2
)
 
—

(79
)
Six months ended June 30, 2019
 
 
 
 
 
 
 
 
Total amounts presented in the consolidated statement of income
$
7,722

22,670

347

(4,239
)
(3,827
)
 
1,318

23,991

 
 
 
 
 
 
 
 
 
Gains (losses) on fair value hedging relationships:
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)
30

—

—

(30
)
—

 
—

—

Recognized on derivatives
(1,903
)
—

(33
)
558

4,933

 
—

3,555

Recognized on hedged items
1,913

—

31

(533
)
(4,837
)
 
—

(3,426
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)(2)
20

—

—

—

(270
)
 
—

(250
)
Recognized on derivatives (3)
(9
)
—

—

—

497

 
(76
)
412

Recognized on hedged items
9

—

—

—

(452
)
 
76

(367
)
Net income (expense) recognized on fair value hedges
60

—

(2
)
(5
)
(129
)
 
—

(76
)
 
 
 
 
 
 
 
 
 
Gains (losses) on cash flow hedging relationships:
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

(155
)
—

—

1

 
—

(154
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

—

—

—

(4
)
 
—

(4
)
Net income (expense) recognized on cash flow hedges
$
—

(155
)
—

—

(3
)

—

(158
)

(continued on following page)

122
Note 15: Derivatives (continued)

(continued from previous page)
 
 
 
 
 
 
 
 
 
Net interest income
 
 
Noninterest income

 
(in millions)
Debt securities

Loans

Mortgage loans held for sale

Deposits

Long-term debt

 
Other

Total

Quarter ended June 30, 2018
 
 
 
 
 
 
 
 
Total amounts presented in the consolidated statement of income
$
3,594

10,912

198

(1,268
)
(1,658
)
 
485

12,263

 
 
 
 
 
 
 
 
 
Gains (losses) on fair value hedging relationships:
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)
(42
)
—

(1
)
(20
)
81

 
—

18

Recognized on derivatives
356

—

5

(41
)
(819
)
 
—

(499
)
Recognized on hedged items
(352
)
—

(7
)
31

780

 
—

452

Foreign exchange contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)(2)
10

—

—

—

(102
)
 
—

(92
)
Recognized on derivatives (3)
2

—

—

—

97

 
(1,410
)
(1,311
)
Recognized on hedged items
1

—

—

—

(82
)
 
1,308

1,227

         Net income (expense) recognized on fair value hedges
(25
)
—

(3
)
(30
)
(45
)
 
(102
)
(205
)
 
 
 
 
 
 
 
 
 
Gains (losses) on cash flow hedging relationships:
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

(77
)
—

—

—

 
—

(77
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

—

—

—

—

 
—

—

Net income (expense) recognized on cash flow hedges
$
—

(77
)
—

—

—

 
—

(77
)
Six months ended June 30, 2018
 
 
 
 
 
 
 
 
Total amounts presented in the consolidated statement of income
$
7,008

21,491

377

(2,358
)
(3,234
)
 
1,087

24,371

 
 
 
 
 
 
 
 
 
Gains (losses) on fair value hedging relationships:
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)
(124
)
—

(2
)
(25
)
252

 
—

101

Recognized on derivatives
1,306

1

11

(190
)
(3,212
)
 
—

(2,084
)
Recognized on hedged items
(1,320
)
(1
)
(15
)
172

3,114

 
—

1,950

Foreign exchange contracts
 
 
 
 
 
 
 
 
Amounts related to interest settlements on derivatives (1)(2)
15

—

—

—

(182
)
 
—

(167
)
Recognized on derivatives (3)
6

—

—

—

(74
)
 
(750
)
(818
)
Recognized on hedged items
(2
)
—

—

—

27

 
681

706

         Net income (expense) recognized on fair value hedges
(119
)
—

(6
)
(43
)
(75
)
 
(69
)
(312
)
 
 
 
 
 
 
 
 
 
Gains (losses) on cash flow hedging relationships:
 
 
 
 
 
 
 
 
Interest contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

(137
)
—

—

—

 
—

(137
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
Realized gains (losses) (pre-tax) reclassified from cumulative OCI into net income (4)
—

—

—

—

—

 
—

—

Net income (expense) recognized on cash flow hedges
$
—

(137
)
—

—

—

 
—

(137
)
(1)
Includes changes in fair value due to the passage of time associated with the non-zero fair value amount at hedge inception.
(2)
The second quarter and first half of 2019 included $7 million and $14 million, respectively, and the second quarter and first half of 2018 both included $2 million of the time value component recognized as net interest income (expense) on forward derivatives hedging foreign currency debt securities and long-term debt that were excluded from the assessment of hedge effectiveness.
(3)
For certain fair value hedges of foreign currency risk, changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. See Note 21 (Other Comprehensive Income) for the amounts recognized in other comprehensive income.
(4)
See Note 21 (Other Comprehensive Income) for details of amounts reclassified to net income.

123

Table 15.4 shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.
 



Table 15.4: Hedged Items in Fair Value Hedging Relationship
 
Hedged Items Currently Designated
 
 
Hedged Items No Longer Designated (1)
 
(in millions)
Carrying Amount of Assets/(Liabilities) (2)(4)

Hedge Accounting Basis Adjustment
Assets/(Liabilities) (3)

 
Carrying Amount of Assets/(Liabilities) (4)

Hedge Accounting Basis Adjustment
Assets/(Liabilities)

June 30, 2019
 
 
 
 
 
Available-for-sale debt securities (5)
$
39,478

1,226

 
5,704

110

Mortgage loans held for sale
852

16

 
388

4

Deposits
(56,584
)
(425
)
 
—

—

Long-term debt
(115,922
)
(5,999
)
 
(25,638
)
270

December 31, 2018
 
 
 
 
 
Available-for-sale debt securities (5)
37,857

(157
)
 
4,938

238

Mortgage loans held for sale
448

7

 
—

—

Deposits
(56,535
)
115

 
—

—

Long-term debt
(104,341
)
(742
)
 
(25,539
)
366

(1)
Represents hedged items no longer designated in qualifying fair value hedging relationships for which an associated basis adjustment exists at the balance sheet date.
(2)
Does not include the carrying amount of hedged items where only foreign currency risk is the designated hedged risk. The carrying amount excluded $1.5 billion for debt securities and $(5.7) billion for long-term debt as of June 30, 2019, and $1.6 billion for debt securities and $(6.3) billion for long-term debt as of December 31, 2018.
(3)
The balance includes $828 million and $99 million of debt securities and long-term debt cumulative basis adjustments, respectively, as of June 30, 2019, and $1.4 billion and $66 million of debt securities and long-term debt cumulative basis adjustments,respectively, as of December 31, 2018, on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges.
(4)
Represents the full carrying amount of the hedged asset or liability item as of the balance sheet date, except for circumstances in which only a portion of the asset or liability was designated as the hedged item in which case only the portion designated is presented.
(5)
Carrying amount represents the amortized cost.
Derivatives Not Designated as Hedging Instruments
We use economic hedge derivatives to hedge the risk of changes in the fair value of certain residential MLHFS, residential MSRs measured at fair value, derivative loan commitments and other interests held. We also use economic hedge derivatives to mitigate the periodic earnings volatility caused by mismatches between the changes in fair value of the hedged item and hedging instrument recognized on our fair value accounting hedges. The resulting gain or loss on these economic hedge derivatives is reflected in mortgage banking noninterest income, net gains (losses) from equity investments and other noninterest income.
The derivatives used to hedge MSRs measured at fair value, resulted in net derivative gains (losses) of $1.2 billion and $2.1 billion in the second quarter and first half of 2019, respectively, and $(319) million and $(1.5) billion in the second quarter and first half of 2018, respectively, which are included in mortgage banking noninterest income. The aggregate fair value of these derivatives was a net asset of $602 million at June 30, 2019, and net asset of $757 million at December 31, 2018. The change in fair value of these derivatives for each period end is due to changes in the underlying market indices and interest rates as well as the purchase and sale of derivative financial instruments throughout the period as part of our dynamic MSR risk management process.
 
Loan commitments for mortgage loans that we intend to sell are considered derivatives. The aggregate fair value of derivative loan commitments on the balance sheet was a net positive fair value of $94 million at June 30, 2019 and a net positive fair value of $60 million at December 31, 2018, and is included in the caption “Interest rate contracts” under “Customer accommodation trading and other derivatives” in Table 15.1 in this Note.
For more information on economic hedges and other derivatives, see Note 16 (Derivatives) to Financial Statements in our 2018 Form 10-K. Table 15.5 shows the net gains (losses) recognized by income statement lines, related to derivatives not designated as hedging instruments. 

124
Note 15: Derivatives (continued)

Table 15.5: Gains (Losses) on Derivatives Not Designated as Hedging Instruments
 
Noninterest income
 
(in millions)
Mortgage banking

Net gains (losses) from equity securities

Net gains (losses) from trading activities

Other

Total

Quarter ended June 30, 2019
 
 
 
 
 
Net gains (losses) recognized on economic hedges derivatives:
 
 
 
 
 
Interest contracts (1)
$
872

—

—

2

874

Equity contracts
—

(658
)
—

(7
)
(665
)
Foreign exchange contracts
—

—

—

164

164

Credit contracts
—

—

—

(5
)
(5
)
Subtotal (2)
872

(658
)
—

154

368

Net gains (losses) recognized on customer accommodation trading and other derivatives:
 
 
 
 
 
Interest contracts (3)
179

—

(222
)
—

(43
)
Commodity contracts
—

—

27

—

27

Equity contracts
—

—

(1,110
)
(133
)
(1,243
)
Foreign exchange contracts
—

—

(83
)
—

(83
)
Credit contracts
—

—

(16
)
—

(16
)
Subtotal
179

—

(1,404
)
(133
)
(1,358
)
Net gains (losses) recognized related to derivatives not designated as hedging instruments
$
1,051

(658
)
(1,404
)
21

(990
)
Six months ended June 30, 2019
 
 
 
 
 
Net gains (losses) recognized on economic hedges derivatives:
 
 
 
 
 
Interest contracts (1)
$
1,683

—

—

7

1,690

Equity contracts
—

(1,543
)
—

—

(1,543
)
Foreign exchange contracts
—

—

—

140

140

Credit contracts
—

—

—

10

10

Subtotal (2)
1,683

(1,543
)
—

157

297

Net gains (losses) recognized on customer accommodation trading and other derivatives:
 
 
 
 
 
Interest contracts (3)
297

—

(506
)
—

(209
)
Commodity contracts
—

—

78

—

78

Equity contracts
—

—

(3,259
)
(406
)
(3,665
)
Foreign exchange contracts
—

—

(69
)
—

(69
)
Credit contracts
—

—

(60
)
—

(60
)
Subtotal
297

—

(3,816
)
(406
)
(3,925
)
Net gains (losses) recognized related to derivatives not designated as hedging instruments
$
1,980

(1,543
)
(3,816
)
(249
)
(3,628
)

(continued on following page)

125

(continued from previous page)
 
 
Noninterest income
 
(in millions)
Mortgage banking

Net gains (losses) from equity securities

Net gains (losses) from trading activities

Other

Total

Quarter ended June 30, 2018
 
 
 
 
 
Net gains (losses) recognized on economic hedges derivatives:
 
 
 
 
 
Interest contracts (1)
$
(185
)
—

—

(3
)
(188
)
Equity contracts
—

(540
)
—

5

(535
)
Foreign exchange contracts
—

—

—

486

486

Credit contracts
—

—

—

(10
)
(10
)
Subtotal (2)
(185
)
(540
)
—

478

(247
)
Net gains (losses) recognized on customer accommodation trading and other derivatives:
 
 
 
 
 
Interest contracts (3)
(46
)
—

182

—

136

Commodity contracts
—

—

35

—

35

Equity contracts
—

—

655

(71
)
584

Foreign exchange contracts
—

—

91

—

91

Credit contracts
—

—

(4
)
—

(4
)
Subtotal
(46
)
—

959

(71
)
842

Net gains (losses) recognized related to derivatives not designated as hedging instruments
$
(231
)
(540
)
959

407

595

Six months ended June 30, 2018
 
 
 
 
 
Net gains (losses) recognized on economic hedges derivatives:
 
 
 
 
 
Interest contracts (1)
$
(780
)
—

—

6

(774
)
Equity contracts
—

(598
)
—

5

(593
)
Foreign exchange contracts
—

—

—

327

327

Credit contracts
—

—

—

(6
)
(6
)
Subtotal (2)
(780
)
(598
)
—

332

(1,046
)
Net gains (losses) recognized on customer accommodation trading and other derivatives:
 
 
 
 
 
Interest contracts (3)
(305
)
—

567

—

262

Commodity contracts
—

—

74

—

74

Equity contracts
—

—

1,114

(266
)
848

Foreign exchange contracts
—

—

401

—

401

Credit contracts
—

—

6

—

6

Subtotal
(305
)
—

2,162

(266
)
1,591

Net gains (losses) recognized related to derivatives not designated as hedging instruments
$
(1,085
)
(598
)
2,162

66

545

(1)
Mortgage banking amounts for the second quarter and first half of 2019 are comprised of gains (losses) of $1.2 billion and $2.1 billion, respectively, related to derivatives used as economic hedges of MSRs measured at fair value offset by gains (losses) of $(283) million and $(434) million related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments. The corresponding amounts for the second quarter and first half of 2018 are comprised of gains (losses) of $(319) million and $(1.5) billion offset by gains (losses) of $134 million and $759 million, respectively.
(2)
Includes hedging gains (losses) of $(18) million and $(36) million for the second quarter and first half of 2019, respectively, and $8 million and $36 million for the second quarter and first half of 2018, respectively, which partially offset hedge accounting ineffectiveness.
(3)
Amounts presented in mortgage banking noninterest income are gains (losses) on derivative loan commitments.

126
Note 15: Derivatives (continued)

Credit Derivatives
Credit derivative contracts are arrangements whose value is derived from the transfer of credit risk of a reference asset or entity from one party (the purchaser of credit protection) to another party (the seller of credit protection). We use credit derivatives to assist customers with their risk management objectives. We may also use credit derivatives in structured product transactions or liquidity agreements written to special purpose vehicles. The maximum exposure of sold credit derivatives is managed through posted collateral, purchased credit derivatives and similar products in order to achieve our desired credit risk profile. This credit risk management provides
 
an ability to recover a significant portion of any amounts that would be paid under the sold credit derivatives. We would be
required to perform under sold credit derivatives in the event of default by the referenced obligors. Events of default include events such as bankruptcy, capital restructuring or lack of principal and/or interest payment. In certain cases, other triggers may exist, such as the credit downgrade of the referenced obligors or the inability of the special purpose vehicle for which we have provided liquidity to obtain funding.
Table 15.6 provides details of sold and purchased credit derivatives.
Table 15.6: Sold and Purchased Credit Derivatives
 
 
 
Notional amount
 
 
 
(in millions)
Fair value
liability

 
Protection
sold (A)

 
Protection
sold –
non-
investment
grade

 
Protection
purchased
with
identical
underlyings (B)

 
Net
protection
sold
(A) - (B)

 
Other
protection
purchased

 
Range of
maturities
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit default swaps on:
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
1

 
1,995

 
472

 
1,362

 
633

 
2,021

 
2019 - 2029
Structured products
31

 
138

 
133

 
109

 
29

 
113

 
2022 - 2047
Credit protection on:
 
 
 
 
 
 
 
 
 
 
 
 
 
Default swap index
—

 
1,897

 
194

 
163

 
1,734

 
3,923

 
2019 - 2029
Commercial mortgage-backed securities index
38

 
342

 
87

 
316

 
26

 
51

 
2047 - 2058
Asset-backed securities index
8

 
41

 
41

 
41

 
—

 
1

 
2045 - 2046
Other
2

 
6,094

 
5,796

 
—

 
6,094

 
12,904

 
2019 - 2048
Total credit derivatives
$
80

 
10,507

 
6,723

 
1,991

 
8,516

 
19,013

 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit default swaps on:
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
59

 
2,037

 
441

 
1,374

 
663

 
1,460

 
2019 - 2027
Structured products
62

 
133

 
128

 
121

 
12

 
113

 
2022 - 2047
Credit protection on:
 
 
 
 
 
 
 
 
 
 
 
 
 
Default swap index
1

 
3,618

 
582

 
1,998

 
1,620

 
2,896

 
2019 - 2028
Commercial mortgage-backed securities index
49

 
389

 
109

 
363

 
26

 
51

 
2047 - 2058
Asset-backed securities index
9

 
42

 
42

 
42

 
—

 
1

 
2045 - 2046
Other
2

 
5,522

 
5,327

 
—

 
5,522

 
12,561

 
2018 - 2048
Total credit derivatives
$
182

 
11,741

 
6,629

 
3,898

 
7,843

 
17,082

 
 

Protection sold represents the estimated maximum exposure to loss that would be incurred under an assumed hypothetical circumstance, where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. We believe this hypothetical circumstance to be a remote possibility and accordingly, this required disclosure is not an indication of expected loss. The amounts under non-investment grade represent the notional amounts of those credit derivatives on which we have a higher risk of being required to perform under the terms of the credit derivative and are a function of the underlying assets.
 
We consider the risk of performance to be high if the underlying assets under the credit derivative have an external rating that is below investment grade or an internal credit default grade that is equivalent thereto. We believe the net protection sold, which is representative of the net notional amount of protection sold and purchased with identical underlyings, in combination with other protection purchased, is more representative of our exposure to loss than either non-investment grade or protection sold. Other protection purchased represents additional protection, which may offset the exposure to loss for protection sold, that was not purchased with an identical underlying of the protection sold.


127

Credit-Risk Contingent Features
Certain of our derivative contracts contain provisions whereby if the credit rating of our debt were to be downgraded by certain major credit rating agencies, the counterparty could demand additional collateral or require termination or replacement of derivative instruments in a net liability position. The aggregate fair value of all derivative instruments with such credit-risk-related contingent features that are in a net liability position was $10.7 billion at June 30, 2019, and $7.4 billion at December 31, 2018, for which we posted $9.2 billion and $5.6 billion, respectively, in collateral in the normal course of business. A credit rating below investment grade is the credit-risk-related contingent feature that if triggered requires the maximum amount of collateral to be posted. If the credit rating of our debt had been downgraded below investment grade, on June 30, 2019, or December 31, 2018, we would have been required to post additional collateral of $1.5 billion or $1.8 billion, respectively, or potentially settle the contract in an amount equal to its fair value. Some contracts require that we provide more collateral than the fair value of derivatives that are in a net liability position if a downgrade occurs.

 
Counterparty Credit Risk
By using derivatives, we are exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If a counterparty fails to perform, our counterparty credit risk is equal to the amount reported as a derivative asset on our balance sheet. The amounts reported as a derivative asset are derivative contracts in a gain position, and to the extent subject to legally enforceable master netting arrangements, net of derivatives in a loss position with the same counterparty and cash collateral received. We minimize counterparty credit risk through credit approvals, limits, monitoring procedures, executing master netting arrangements and obtaining collateral, where appropriate. To the extent the master netting arrangements and other criteria meet the applicable requirements, including determining the legal enforceability of the arrangement, it is our policy to present derivative balances and related cash collateral amounts net on the balance sheet. We incorporate credit valuation adjustments (CVA) to reflect counterparty credit risk in determining the fair value of our derivatives. Such adjustments, which consider the effects of enforceable master netting agreements and collateral arrangements, reflect market-based views of the credit quality of each counterparty. Our CVA calculation is determined based on observed credit spreads in the credit default swap market and indices indicative of the credit quality of the counterparties to our derivatives.

128
Note 16: Fair Values of Assets and Liabilities (continued)

Note 16: Fair Values of Assets and Liabilities

We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Assets and liabilities recorded at fair value on a recurring basis are presented in Table 16.2 in this Note. From time to time, we may be required to record fair value adjustments on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of LOCOM accounting, measurement alternative accounting for nonmarketable equity securities or write-downs of individual assets. Assets recorded on a nonrecurring basis are presented in Table 16.13 in this Note.
See Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K for discussion of how we determine fair value. For descriptions of the valuation methodologies we use for assets and liabilities recorded at fair value on a recurring or nonrecurring basis and for estimating fair value for financial instruments that are not recorded at fair value, see Note 18 (Fair Values of Assets and Liabilities) in our 2018 Form 10-K.

 
FAIR VALUE HIERARCHY  We group our assets and liabilities measured at fair value in three levels based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are:
•
Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets.
•
Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.
•
Level 3 – Valuation is generated from techniques that use significant assumptions that are not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.
We do not classify an equity security in the fair value hierarchy if we use the non-published net asset value (NAV) per share (or its equivalent) that has been communicated to us as an investor as a practical expedient to measure fair value. We use NAV per share as the fair value measurement for certain nonmarketable equity fund investments. Marketable equity securities with published NAVs continue to be classified in the fair value hierarchy.

129

Fair Value Measurements from Vendors
For certain assets and liabilities, we obtain fair value measurements from vendors, which predominantly consist of third-party pricing services, and record the unadjusted fair value in our financial statements. For additional information, see Note 18 (Fair Values of Assets and Liabilities) in our 2018
 
Form 10-K. Table 16.1 presents unadjusted fair value measurements provided by brokers or third-party pricing services by fair value hierarchy level. Fair value measurements obtained from brokers or third-party pricing services that we have adjusted to determine the fair value recorded in our financial statements are excluded from Table 16.1.
Table 16.1: Fair Value Measurements by Brokers or Third-Party Pricing Services
 
Brokers
 
 
Third-party pricing services
 
(in millions)
Level 1

 
Level 2

 
Level 3

 
Level 1

 
Level 2

 
Level 3

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Trading debt securities
$
—

 
—

 
—

 
534

 
319

 
—

Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
—

 
—

 
—

 
12,324

 
2,995

 
—

Securities of U.S. states and political subdivisions
—

 
—

 
—

 
—

 
44,642

 
38

Mortgage-backed securities
—

 
—

 
—

 
—

 
161,260

 
41

Other debt securities (1)
—

 
45

 
130

 
—

 
41,947

 
663

Total available-for-sale debt securities
—

 
45

 
130

 
12,324

 
250,844

 
742

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Marketable
—

 
—

 
—

 
—

 
160

 
—

Nonmarketable
—

 
—

 
—

 
—

 
—

 
—

Total equity securities
—

 
—

 
—

 
—

 
160

 
—

Derivative assets
—

 
—

 
—

 
12

 
—

 
—

Derivative liabilities
—

 
—

 
—

 
(13
)
 
(2
)
 
—

Other liabilities (2)
—

 
—

 
—

 
—

 
—

 
—

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Trading debt securities
$
—

 
—

 
—

 
899

 
256

 
—

Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
—

 
—

 
—

 
10,399

 
2,949

 
—

Securities of U.S. states and political subdivisions
—

 
—

 
—

 
—

 
48,377

 
43

Mortgage-backed securities
—

 
—

 
—

 
—

 
160,162

 
41

Other debt securities (1)
—

 
45

 
129

 
—

 
44,292

 
758

Total available-for-sale debt securities
—

 
45

 
129

 
10,399

 
255,780

 
842

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
Marketable
—

 
—

 
—

 
—

 
158

 
—

Nonmarketable
—

 
—

 
—

 
—

 
1

 
—

Total equity securities
—

 
—

 
—

 
—

 
159

 
—

Derivative assets
—

 
—

 
—

 
17

 
—

 
—

Derivative liabilities
—

 
—

 
—

 
(12
)
 
—

 
—

Other liabilities (2)
—

 
—

 
—

 
—

 
—

 
—

(1)
Includes corporate debt securities, collateralized loan and other debt obligations, asset-backed securities, and other debt securities.
(2)
Includes short sale liabilities and other liabilities.

130
Note 16: Fair Values of Assets and Liabilities (continued)

Assets and Liabilities Recorded at Fair Value on a Recurring Basis
 
Table 16.2 presents the balances of assets and liabilities recorded at fair value on a recurring basis.
Table 16.2: Fair Value on a Recurring Basis
(in millions)
Level 1

 
Level 2

 
Level 3

 
Netting (1)

Total

June 30, 2019
 
 
 
 
 
 
 
 
Trading debt securities:
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
15,010

 
3,215

 
—

 
—

18,225

Securities of U.S. states and political subdivisions
—

 
3,314

 
—

 
—

3,314

Collateralized loan obligations
—

 
758

 
249

 
—

1,007

Corporate debt securities
—

 
11,321

 
44

 
—

11,365

Mortgage-backed securities
—

 
35,186

 
—

 
—

35,186

Asset-backed securities
—

 
1,084

 
—

 
—

1,084

Other trading debt securities
—

 
13

 
14

 
—

27

Total trading debt securities
15,010

 
54,891

 
307

 
—

70,208

Available-for-sale debt securities:
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
12,324

 
2,995

 
—

 
—

15,319

Securities of U.S. states and political subdivisions
—

 
44,704

 
391

 
—

45,095

Mortgage-backed securities:
 
 
 
 
 
 
 
 
Federal agencies
—

 
155,858

 
—

 
—

155,858

Residential
—

 
1,263

 
—

 
—

1,263

Commercial
—

 
4,139

 
41

 
—

4,180

Total mortgage-backed securities
—

 
161,260

 
41

 
—

161,301

Corporate debt securities
37

 
5,810

 
383

 
—

6,230

Collateralized loan and other debt obligations (2)
—

 
32,346

 
649

 
—

32,995

Asset-backed securities:
 
 
 
 
 
 
 
 
Automobile loans and leases
—

 
889

 
—

 
—

889

Home equity loans
—

 
14

 
—

 
—

14

Other asset-backed securities
—

 
3,792

 
341

 
—

4,133

Total asset-backed securities
—

 
4,695

 
341

 
—

5,036

Other debt securities
—

 
7

 
—

 
—

7

Total available-for-sale debt securities
12,361

 
251,817

 
1,805

(3)
—

265,983

Mortgage loans held for sale
—

 
15,228

 
1,115

 
—

16,343

Loans held for sale
—

 
1,106

 
12

 
—

1,118

Loans
—

 
—

 
202

 
—

202

Mortgage servicing rights (residential)
—

 
—

 
12,096

 
—

12,096

Derivative assets:
 
 
 
 
 
 
 
 
Interest rate contracts
45

 
25,258

 
250

 
—

25,553

Commodity contracts
—

 
1,404

 
20

 
—

1,424

Equity contracts
2,162

 
3,300

 
1,915

 
—

7,377

Foreign exchange contracts
12

 
5,522

 
21

 
—

5,555

Credit contracts
—

 
62

 
79

 
—

141

Netting
—

 
—

 
—

 
(26,888
)
(26,888
)
Total derivative assets
2,219

 
35,546

 
2,285

 
(26,888
)
13,162

Equity securities - excluding securities at NAV:
 
 
 
 
 
 
 
 
Marketable
28,447

 
259

 
—

 
—

28,706

Nonmarketable
—

 
16

 
7,110

 
—

7,126

Total equity securities
28,447

 
275

 
7,110

 
—

35,832

Total assets included in the fair value hierarchy
$
58,037


358,863


24,932


(26,888
)
414,944

Equity securities at NAV (4)
 
 
 
 
 
 
 
118

Total assets recorded at fair value
 
 
 
 
 
 
 
415,062

Derivative liabilities:
 
 
 
 
 
 
 
 
Interest rate contracts
$
(55
)
 
(20,537
)
 
(45
)
 
—

(20,637
)
Commodity contracts
—

 
(1,887
)
 
(49
)
 
—

(1,936
)
Equity contracts
(1,509
)
 
(5,526
)
 
(2,143
)
 
—

(9,178
)
Foreign exchange contracts
(13
)
 
(6,224
)
 
(31
)
 
—

(6,268
)
Credit contracts
—

 
(63
)
 
(34
)
 
—

(97
)
Netting
—

 
—

 
—

 
29,717

29,717

Total derivative liabilities
(1,577
)
 
(34,237
)
 
(2,302
)
 
29,717

(8,399
)
Short sale liabilities:
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
(7,768
)
 
(230
)
 
—

 
—

(7,998
)
Mortgage-backed securities
—

 
(533
)
 
—

 
—

(533
)
Asset-backed securities
—

 
(10
)
 
—

 
—

(10
)
Corporate debt securities
—

 
(4,887
)
 
—

 
—

(4,887
)
Equity securities
(2,527
)
 
—

 
—

 
—

(2,527
)
Other securities
—

 
—

 
—

 
—

—

Total short sale liabilities
(10,295
)
 
(5,660
)
 
—

 
—

(15,955
)
Other liabilities
—

 
—

 
(2
)
 
—

(2
)
Total liabilities recorded at fair value
$
(11,872
)
 
(39,897
)
 
(2,304
)
 
29,717

(24,356
)
(1)
Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 15 (Derivatives) for additional information.
(2)
Includes collateralized debt obligations of $649 million.
(3)
A significant portion of the balance consists of securities that are investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity.
(4)
Consists of certain nonmarketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

(continued on following page)

131

(continued from previous page)
(in millions)  
Level 1

 
Level 2

 
Level 3

 
Netting (1)

Total

December 31, 2018
 
 
 
 
 
 
 
 
Trading debt securities:
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
$
20,525

 
2,892

 
—

 
—

23,417

Securities of U.S. states and political subdivisions
—

 
3,272

 
3

 
—

3,275

Collateralized loan obligations
—

 
673

 
237

 
—

910

Corporate debt securities
—

 
10,723

 
34

 
—

10,757

Mortgage-backed securities
—

 
30,715

 
—

 
—

30,715

Asset-backed securities
—

 
893

 
—

 
—

893

Other trading debt securities
—

 
6

 
16

 
—

22

Total trading debt securities
20,525

 
49,174

 
290

 
—

69,989

Available-for-sale debt securities:
 
 
 
 
 
 
 
 
Securities of U.S. Treasury and federal agencies
10,399

 
2,949

 
—

 
—

13,348

Securities of U.S. states and political subdivisions
—

 
48,820

 
444

 
—

49,264

Mortgage-backed securities:
 
 
 
 
 
 
 

Federal agencies
—

 
153,203

 
—

 
—

153,203

Residential
—

 
2,775

 
—

 
—

2,775

Commercial
—

 
4,184

 
41

 
—

4,225

Total mortgage-backed securities
—

 
160,162

 
41

 
—

160,203

Corporate debt securities
34

 
5,867

 
370

 
—

6,271

Collateralized loan and other debt obligations (2)
—

 
34,543

 
800

 
—

35,343

Asset-backed securities:
 
 
 
 
 
 
 

Automobile loans and leases
—

 
925

 
—

 
—

925

Home equity loans
—

 
112

 
—

 
—

112

Other asset-backed securities
—

 
4,056

 
389

 
—

4,445

Total asset-backed securities
—

 
5,093

 
389

 
—

5,482

Other debt securities
—

 
1

 
—

 
—

1

Total available-for-sale debt securities
10,433

 
257,435

 
2,044

(3)
—

269,912

Mortgage loans held for sale
—

 
10,774

 
997

 
—

11,771

Loans held for sale
—

 
1,409

 
60

 
—

1,469

Loans
—

 
—

 
244

 
—

244

Mortgage servicing rights (residential)
—

 
—

 
14,649

 
—

14,649

Derivative assets:
 
 
 
 
 
 
 

Interest rate contracts
46

 
18,294

 
95

 
—

18,435

Commodity contracts
—

 
1,535

 
53

 
—

1,588

Equity contracts
1,648

 
4,582

 
1,315

 
—

7,545

Foreign exchange contracts
17

 
6,689

 
8

 
—

6,714

Credit contracts
—

 
179

 
99

 
—

278

Netting
—

 
—

 
—

 
(23,790
)
(23,790
)
Total derivative assets
1,711

 
31,279

 
1,570

 
(23,790
)
10,770

Equity securities - excluding securities at NAV:
 
 
 
 
 
 
 
 
Marketable
23,205

 
757

 
—

 
—

23,962

Nonmarketable
—

 
24

 
5,468

 
—

5,492

Total equity securities
23,205

 
781

 
5,468

 
—

29,454

Total assets included in the fair value hierarchy
$
55,874

 
350,852

 
25,322

 
(23,790
)
408,258

Equity securities at NAV (4)
 
 
 
 
 
 
 
102

Total assets recorded at fair value


 


 


 


408,360

Derivative liabilities:
 
 
 
 
 
 
 

Interest rate contracts
$
(21
)
 
(16,217
)
 
(70
)
 
—

(16,308
)
Commodity contracts
—

 
(2,287
)
 
(49
)
 
—

(2,336
)
Equity contracts
(1,492
)
 
(3,186
)
 
(1,332
)
 
—

(6,010
)
Foreign exchange contracts
(12
)
 
(7,067
)
 
(34
)
 
—

(7,113
)
Credit contracts
—

 
(216
)
 
(64
)
 
—

(280
)
Netting
—

 
—

 
—

 
23,548

23,548

Total derivative liabilities
(1,525
)
 
(28,973
)
 
(1,549
)
 
23,548

(8,499
)
Short sale liabilities:
 
 
 
 
 
 
 


Securities of U.S. Treasury and federal agencies
(11,850
)
 
(411
)
 
—

 
—

(12,261
)
Mortgage-backed securities
—

 
(47
)
 
—

 
—

(47
)
Corporate debt securities
—

 
(4,505
)
 
—

 
—

(4,505
)
Equity securities
(2,902
)
 
(2
)
 
—

 
—

(2,904
)
Other securities
—

 
(3
)
 
—

 
—

(3
)
Total short sale liabilities
(14,752
)
 
(4,968
)
 
—

 
—

(19,720
)
Other liabilities
—

 
—

 
(2
)
 
—

(2
)
Total liabilities recorded at fair value
$
(16,277
)
 
(33,941
)
 
(1,551
)
 
23,548

(28,221
)
(1)
Represents balance sheet netting of derivative asset and liability balances and related cash collateral. See Note 15 (Derivatives) for additional information.
(2)
Includes collateralized debt obligations of $800 million.
(3)
A significant portion of the balance consists of securities that are investment grade based on ratings received from the ratings agencies or internal credit grades categorized as investment grade if external ratings are not available. The securities are classified as Level 3 due to limited market activity.
(4)
Consists of certain nonmarketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.





132
Note 16: Fair Values of Assets and Liabilities (continued)

Changes in Fair Value Levels
We monitor the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy and transfer between Level 1, Level 2, and Level 3 accordingly. Observable market data includes but is not limited to quoted prices and market transactions. Changes in economic conditions or market liquidity generally will drive changes in availability of observable market data. Changes in availability of observable market data, which also may result in
 
changing the valuation technique used, are generally the cause of transfers between Level 1, Level 2, and Level 3. The amounts reported as transfers represent the fair value as of the beginning of the quarter in which the transfer occurred.
The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2019, are presented in Table 16.3.

Table 16.3: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2019
 
  

 
Total net gains
(losses) included in
 
 
Purchases,
sales,
issuances
and
settlements,
net (1)

 
  

 
  

 
  

 
Net unrealized
gains (losses)
included in
income related
to assets and
liabilities held
at period end (4)

  
(in millions)
Balance,
beginning
of period

 
Net
income

 
Other
compre-
hensive
income

 
 
Transfers into
Level 3 (2)

 
Transfers
out of
Level 3 (3)

 
Balance,
end of
period

 
 
Quarter ended June 30, 2019
  
 
  
 
  
 
  
 
  
 
  
 
  
 
 
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
 
  
Securities of U.S. states and political subdivisions
$
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

  
Collateralized loan obligations
275

 
(2
)
 
—

 
(24
)
 
—

 
—

 
249

 
(6
)
  
Corporate debt securities
41

 
1

 
—

 
3

 
—

 
(1
)
 
44

 
1

  
Other trading debt securities
15

 
(1
)
 
—

 
—

 
—

 
—

 
14

 
—

 
Total trading debt securities
331

 
(2
)
 
—

 
(21
)
 
—

 
(1
)
 
307

 
(5
)
(5)
Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Securities of U.S. states and political subdivisions
470

 
1

 
2

 
(33
)
 
—

 
(49
)
 
391

 
—

  
Mortgage-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Residential
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

  
Commercial
41

 
—

 
—

 
—

 
—

 
—

 
41

 
—

  
Total mortgage-backed securities
41

 
—

 
—

 
—

 
—

 
—

 
41

 
—

 
Corporate debt securities
377

 
—

 
(1
)
 
7

 
—

 
—

 
383

 
—

  
Collateralized loan and other debt obligations
755

 
7

 
(6
)
 
(107
)
 
—

 
—

 
649

 
—

  
Asset-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Other asset-backed securities
362

 
—

 
—

 
(21
)
 
—

 
—

 
341

 
—

  
Total asset-backed securities
362

 
—

 
—

 
(21
)
 
—

 
—

 
341

 
—

  
Total available-for-sale debt securities
2,005

 
8

 
(5
)
 
(154
)
 
—

 
(49
)
 
1,805

 
—

(6)
Mortgage loans held for sale
998

 
37

 
—

 
(22
)
 
104

 
(2
)
 
1,115

 
39

(7)
Loans held for sale
71

 
—

 
—

 
(3
)
 
—

 
(56
)
 
12

 
—

 
Loans
225

 
1

 
—

 
(24
)
 
—

 
—

 
202

 
(2
)
(7)
Mortgage servicing rights (residential)(8)
13,336

 
(1,639
)
 
—

 
399

 
—

 
—

 
12,096

 
(1,078
)
(7)
Net derivative assets and liabilities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Interest rate contracts
101

 
237

 
—

 
(133
)
 
—

 
—

 
205

 
141

  
Commodity contracts
(18
)
 
(75
)
 
—

 
64

 
—

 
—

 
(29
)
 
(10
)
  
Equity contracts
(162
)
 
15

 
—

 
(66
)
 
(2
)
 
(13
)
 
(228
)
 
(29
)
  
Foreign exchange contracts
(16
)
 
3

 
—

 
3

 
—

 
—

 
(10
)
 
7

  
Credit contracts
49

 
(3
)
 
—

 
(1
)
 
—

 
—

 
45

 
(3
)
  
Total derivative contracts
(46
)
 
177

 
—

 
(133
)
 
(2
)
 
(13
)
 
(17
)
 
106

(9)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonmarketable
6,381

 
724

 
—

 
—

 
5

 
—

 
7,110

 
724

 
Total equity securities
6,381

 
724

 
—

 
—

 
5

 
—

 
7,110

 
724

(10)
Other liabilities
(2
)
 
—

 
—

 
—

 
—

 
—

 
(2
)
 
—

(7)
(1)
See Table 16.4 for detail.
(2)
All assets and liabilities transferred into level 3 were previously classified within level 2.
(3)
All assets and liabilities transferred out of level 3 are classified as level 2.
(4)
Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
(5)
Included in net gains (losses) from trading activities in the income statement.
(6)
Included in net gains (losses) on debt securities in the income statement.
(7)
Included in mortgage banking and other noninterest income in the income statement.
(8)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).
(9)
Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement.
(10)
Included in net gains (losses) from equity securities in the income statement.
 (continued on following page)


133

(continued from previous page)
 
Table 16.4 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2019.
Table 16.4: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2019
(in millions)
Purchases

 
Sales

 
Issuances

 
Settlements

 
Net

Quarter ended June 30, 2019
  
 
  
 
  
 
  
 
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
Securities of U.S. states and political subdivisions
$
—

 
—

 
—

 
—

 
—

Collateralized loan obligations
44

 
(65
)
 
—

 
(3
)
 
(24
)
Corporate debt securities
6

 
(3
)
 
—

 
—

 
3

Other trading debt securities
—

 
—

 
—

 
—

 
—

Total trading debt securities
50

 
(68
)
 
—

 
(3
)
 
(21
)
Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
Securities of U.S. states and political subdivisions
—

 
—

 
6

 
(39
)
 
(33
)
Mortgage-backed securities:
  
 
  
 
  
 
  
 
  
Residential
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Total mortgage-backed securities
—

 
—

 
—

 
—

 
—

Corporate debt securities
8

 
—

 
—

 
(1
)
 
7

Collateralized loan and other debt obligations
—

 
—

 
—

 
(107
)
 
(107
)
Asset-backed securities:
  
 
  
 
  
 
  
 
  
Other asset-backed securities
—

 
(2
)
 
57

 
(76
)
 
(21
)
Total asset-backed securities
—

 
(2
)
 
57

 
(76
)
 
(21
)
Total available-for-sale debt securities
8

 
(2
)
 
63

 
(223
)
 
(154
)
Mortgage loans held for sale
30

 
(47
)
 
54

 
(59
)
 
(22
)
Loans held for sale
—

 
(1
)
 
—

 
(2
)
 
(3
)
Loans
—

 
—

 
2

 
(26
)
 
(24
)
Mortgage servicing rights (residential) (1)
—

 
(1
)
 
400

 
—

 
399

Net derivative assets and liabilities:
  
 
  
 
  
 
  
 
  
Interest rate contracts
—

 
—

 
—

 
(133
)
 
(133
)
Commodity contracts
—

 
—

 
—

 
64

 
64

Equity contracts
—

 
—

 
—

 
(66
)
 
(66
)
Foreign exchange contracts
—

 
—

 
—

 
3

 
3

Credit contracts
2

 
(3
)
 
—

 
—

 
(1
)
Total derivative contracts
2

 
(3
)
 
—

 
(132
)
 
(133
)
Equity securities:
 
 
 
 
 
 
 
 
 
Nonmarketable
—

 
—

 
—

 
—

 
—

Total equity securities
—

 
—

 
—

 
—

 
—

Other liabilities
—

 
—

 
—

 
—

 
—

(1)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).


134
Note 16: Fair Values of Assets and Liabilities (continued)

(continued from previous page)
 
Table 16.5 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2018.
Table 16.5: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Quarter ended June 30, 2018
  
Balance,
beginning
of period

 
Total net gains
(losses) included in
 
 
Purchases,
sales,
issuances
and
settlements,
net (1)

 
  

 
  

 
  

 
Net unrealized
gains (losses)
included in
income related
to assets and
liabilities held
at period end

  
(in millions)
 
Net
income 

 
Other
compre-
hensive
income

 
 
Transfers
into
Level 3 (2)

 
Transfers
out of
Level 3 (3)

 
Balance,
end of
period

 
(4)
Quarter ended June 30, 2018
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Securities of U.S. states and
     political subdivisions
$
3

 
—

 
—

 
—

 
—

 
—

 
3

 
—

  
Collateralized loan obligations
316

 
(6
)
 
—

 
(19
)
 
—

 
—

 
291

 
(8
)
  
Corporate debt securities
34

 
—

 
—

 
3

 
—

 
(1
)
 
36

 
1

  
Other trading debt securities
18

 
(1
)
 
—

 
—

 
—

 
—

 
17

 
—

  
Total trading debt securities
371

 
(7
)
 
—

 
(16
)
 
—

 
(1
)
 
347

 
(7
)
(5)
Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Securities of U.S. states and political subdivisions
617

 
1

 
—

 
(49
)
 
—

 
(10
)
 
559

 
—

  
Mortgage-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Residential
1

 
—

 
(1
)
 
—

 
—

 
—

 
—

 
—

  
Commercial
67

 
—

 
(1
)
 
(13
)
 
—

 
—

 
53

 
—

  
Total mortgage-backed securities
68

 
—

 
(2
)
 
(13
)
 
—

 
—

 
53

 
—

  
Corporate debt securities
410

 
1

 
1

 
31

 
—

 
—

 
443

 
—

  
Collateralized loan and other debt obligations
1,045

 
6

 
10

 
(24
)
 
—

 
—

 
1,037

 
—

  
Asset-backed securities:
  
 
  
 
  
 
  
 
  
 
 
 
 
 
  
  
Other asset-backed securities
501

 
—

 
(1
)
 
(99
)
 
—

 
—

 
401

 
—

  
Total asset-backed securities
501

 
—

 
(1
)
 
(99
)
 
—

 
—

 
401

 
—

  
Total available-for-sale debt securities
2,641

 
8

 
8

 
(154
)
 
—

 
(10
)
 
2,493

 
—

(6)
Mortgage loans held for sale
950

 
(11
)
 
—

 
25

 
25

 
(3
)
 
986

 
(11
)
(7)
Loans held for sale
—

 
(1
)
 
—

 
—

 
21

 
—

 
20

 
—

 
Loans
352

 
—

 
—

 
(31
)
 
—

 
—

 
321

 
(4
)
(7)
Mortgage servicing rights (residential) (8)
15,041

 
(115
)
 
—

 
485

 
—

 
—

 
15,411

 
345

(7)
Net derivative assets and liabilities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Interest rate contracts
(8
)
 
(63
)
 
—

 
30

 
—

 
—

 
(41
)
 
6

  
Commodity contracts
10

 
15

 
—

 
(2
)
 
3

 
—

 
26

 
21

  
Equity contracts
(322
)
 
(12
)
 
—

 
(7
)
 
—

 
2

 
(339
)
 
261

  
Foreign exchange contracts
1

 
(18
)
 
—

 
2

 
—

 
—

 
(15
)
 
(13
)
  
Credit contracts
41

 
(12
)
 
—

 
(5
)
 
—

 
—

 
24

 
(17
)
  
Total derivative contracts
(278
)
 
(90
)
 
—

 
18

 
3

 
2

 
(345
)
 
258

(9)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonmarketable
5,219

 
585

 
—

 
—

 
6

 
(4
)
 
5,806

 
586

 
Total equity securities
5,219

 
585

 
—

 
—

 
6

 
(4
)
 
5,806

 
586

(10)
Other liabilities
(2
)
 
—

 
—

 
—

 
—

 
—

 
(2
)
 
—

(7)
(1)
See Table 16.6 for detail.
(2)
All assets and liabilities transferred into level 3 were previously classified within level 2.
(3)
All assets and liabilities transferred out of level 3 are classified as level 2.
(4)
Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
(5)
Included in net gains (losses) from trading activities in the income statement.
(6)
Included in net gains (losses) on debt securities in the income statement.
(7)
Included in mortgage banking and other noninterest income in the income statement.
(8)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).
(9)
Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement.
(10)
Included in net gains (losses) from equity securities in the income statement.
 (continued on following page)


135

(continued from previous page)
 
Table 16.6 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the quarter ended June 30, 2018.
Table 16.6: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Quarter ended June 30, 2018
(in millions)
Purchases

 
Sales

 
Issuances

 
Settlements

 
Net

Quarter ended June 30, 2018
 
 
 
 
 
 
 
 
 
Trading debt securities:
 
 
 
 
 
 
 
 
 
Securities of U.S. states and political subdivisions
$
—

 
—

 
—

 
—

 
—

Collateralized loan obligations
89

 
(39
)
 
—

 
(69
)
 
(19
)
Corporate debt securities
4

 
(1
)
 
—

 
—

 
3

Other trading debt securities
—

 
—

 
—

 
—

 
—

Total trading debt securities
93

 
(40
)
 
—

 
(69
)
 
(16
)
Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
Securities of U.S. states and political subdivisions
—

 
—

 
—

 
(49
)
 
(49
)
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
Residential
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
(13
)
 
(13
)
Total mortgage-backed securities
—

 
—

 
—

 
(13
)
 
(13
)
Corporate debt securities
31

 
—

 
—

 
—

 
31

Collateralized loan and other debt obligations
—

 
—

 
—

 
(24
)
 
(24
)
Asset-backed securities:
 
 
 
 
 
 
 
 
 
Other asset-backed securities
—

 
—

 
9

 
(108
)
 
(99
)
Total asset-backed securities
—

 
—

 
9

 
(108
)
 
(99
)
Total available-for-sale debt securities
31

 
—

 
9

 
(194
)
 
(154
)
Mortgage loans held for sale
20

 
(68
)
 
109

 
(36
)
 
25

Loans held for sale
—

 
—

 
—

 
—

 
—

Loans
—

 
—

 
4

 
(35
)
 
(31
)
Mortgage servicing rights (residential) (1)
—

 
(1
)
 
486

 
—

 
485

Net derivative assets and liabilities:
 
 
 
 
 
 
 
 
 
Interest rate contracts
—

 
—

 
—

 
30

 
30

Commodity contracts
—

 
—

 
—

 
(2
)
 
(2
)
Equity contracts
—

 
—

 
—

 
(7
)
 
(7
)
Foreign exchange contracts
—

 
—

 
—

 
2

 
2

Credit contracts
5

 
(2
)
 
—

 
(8
)
 
(5
)
Total derivative contracts
5

 
(2
)
 
—

 
15

 
18

Equity securities:
 
 
 
 
 
 
 
 
 
Nonmarketable
—

 
—

 
—

 
—

 
—

Total equity securities
—

 
—

 
—

 
—

 
—

Other liabilities
—

 
—

 
—

 
—

 
—


(1)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).


136
Note 16: Fair Values of Assets and Liabilities (continued)

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2019, are presented in Table 16.7.
Table 16.7: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2019
 
  

 
Total net gains
(losses) included in
 
 
Purchases,
sales,
issuances
and
settlements,
net (1)

 
  

 
  

 
  

 
Net unrealized
gains (losses)
included in
income related
to assets and
liabilities held
at period end (4)

  
(in millions)
Balance,
beginning
of period

 
Net
income

 
Other
compre-
hensive
income

 
 
Transfers
into
Level 3 (2)

 
Transfers
out of
Level 3 (3)

 
Balance,
end of
period

 
 
Six months ended June 30, 2019
  
 
  
 
  
 
  
 
  
 
  
 
  
 
 
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
 
  
Securities of U.S. states and
political subdivisions
$
3

 
—

 
—

 
(2
)
 
—

 
(1
)
 
—

 
—

  
Collateralized loan obligations
237

 
(5
)
 
—

 
17

 
—

 
—

 
249

 
(4
)
  
Corporate debt securities
34

 
3

 
—

 
7

 
1

 
(1
)
 
44

 
3

  
Other trading debt securities
16

 
(2
)
 
—

 
—

 
—

 
—

 
14

 
—

 
Total trading debt securities
290

 
(4
)
 
—

 
22

 
1

 
(2
)
 
307

 
(1
)
(5)
Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Securities of U.S. states and political subdivisions
444

 
1

 
5

 
(10
)
 
—

 
(49
)
 
391

 
—

  
Mortgage-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Residential
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

  
Commercial
41

 
—

 
—

 
—

 
—

 
—

 
41

 
—

  
Total mortgage-backed securities
41

 
—

 
—

 
—

 
—

 
—

 
41

 
—

 
Corporate debt securities
370

 
1

 
3

 
9

 
—

 
—

 
383

 
—

  
Collateralized loan and other debt obligations
800

 
13

 
(10
)
 
(154
)
 
—

 
—

 
649

 
—

  
Asset-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Other asset-backed securities
389

 
—

 
(1
)
 
(47
)
 
—

 
—

 
341

 
—

  
Total asset-backed securities
389

 
—

 
(1
)
 
(47
)
 
—

 
—

 
341

 
—

  
Total available-for-sale debt securities
2,044

 
15

 
(3
)
 
(202
)
 
—

 
(49
)
 
1,805

 
—

(6)
Mortgage loans held for sale
997

 
52

 
—

 
(88
)
 
160

 
(6
)
 
1,115

 
54

(7)
Loans held for sale
60

 
—

 
—

 
8

 
37

 
(93
)
 
12

 
—

 
Loans
244

 
1

 
—

 
(43
)
 
—

 
—

 
202

 
(4
)
(7)
Mortgage servicing rights (residential) (8)
14,649

 
(3,012
)
 
—

 
459

 
—

 
—

 
12,096

 
(1,969
)
(7)
Net derivative assets and liabilities:
  
 
  
 
  
 
 
 
  
 
  
 
 
 
  
  
Interest rate contracts
25

 
424

 
—

 
(244
)
 
—

 
—

 
205

 
220

  
Commodity contracts
4

 
(126
)
 
—

 
91

 
2

 
—

 
(29
)
 
(26
)
  
Equity contracts
(17
)
 
(104
)
 
—

 
(69
)
 
7

 
(45
)
 
(228
)
 
(175
)
  
Foreign exchange contracts
(26
)
 
10

 
—

 
6

 
—

 
—

 
(10
)
 
17

  
Credit contracts
35

 
5

 
—

 
5

 
—

 
—

 
45

 
10

  
Total derivative contracts
21

 
209

 
—

 
(211
)
 
9

 
(45
)
 
(17
)
 
46

(9)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonmarketable
5,468

 
1,650

 
—

 
(1
)
 
5

 
(12
)
 
7,110

 
1,650

 
Total equity securities
5,468

 
1,650

 
—

 
(1
)
 
5

 
(12
)
 
7,110

 
1,650

(10)
Other liabilities
(2
)
 
—

 
—

 
—

 
—

 
—

 
(2
)
 
—

(7)
(1)
See Table 16.8 for detail.
(2)
All assets and liabilities transferred into level 3 were previously classified within level 2.
(3)
All assets and liabilities transferred out of level 3 are classified as level 2.
(4)
Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
(5)
Included in net gains (losses) from trading activities in the income statement.
(6)
Included in net gains (losses) on debt securities in the income statement.
(7)
Included in mortgage banking and other noninterest income in the income statement.
(8)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).
(9)
Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement.
(10)
Included in net gains (losses) from equity securities in the income statement.
 (continued on following page)

137

(continued from previous page)
Table 16.8 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2019.
Table 16.8: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2019
(in millions)
Purchases

 
Sales

 
Issuances

 
Settlements

 
Net

Six months ended June 30, 2019
  
 
  
 
  
 
  
 
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
Securities of U.S. states and political subdivisions
$
—

 
—

 
—

 
(2
)
 
(2
)
Collateralized loan obligations
174

 
(152
)
 
—

 
(5
)
 
17

Corporate debt securities
11

 
(4
)
 
—

 
—

 
7

Other trading debt securities
—

 
—

 
—

 
—

 
—

Total trading debt securities
185

 
(156
)
 
—

 
(7
)
 
22

Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
Securities of U.S. states and political subdivisions
—

 
—

 
55

 
(65
)
 
(10
)
Mortgage-backed securities:
  
 
  
 
  
 
  
 
  
Residential
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Total mortgage-backed securities
—

 
—

 
—

 
—

 
—

Corporate debt securities
11

 
—

 
—

 
(2
)
 
9

Collateralized loan and other debt obligations
—

 
—

 
—

 
(154
)
 
(154
)
Asset-backed securities:
  
 
  
 
  
 
  
 
  
Other asset-backed securities
—

 
(5
)
 
123

 
(165
)
 
(47
)
Total asset-backed securities
—

 
(5
)
 
123

 
(165
)
 
(47
)
Total available-for-sale debt securities
11

 
(5
)
 
178

 
(386
)
 
(202
)
Mortgage loans held for sale
46

 
(140
)
 
100

 
(94
)
 
(88
)
Loans held for sale
12

 
(2
)
 
—

 
(2
)
 
8

Loans
2

 
—

 
5

 
(50
)
 
(43
)
Mortgage servicing rights (residential) (1)
—

 
(282
)
 
741

 
—

 
459

Net derivative assets and liabilities:
  
 
  
 
  
 
  
 
  
Interest rate contracts
—

 
—

 
—

 
(244
)
 
(244
)
Commodity contracts
—

 
—

 
—

 
91

 
91

Equity contracts
—

 
—

 
—

 
(69
)
 
(69
)
Foreign exchange contracts
—

 
—

 
—

 
6

 
6

Credit contracts
8

 
(3
)
 
—

 
—

 
5

Total derivative contracts
8

 
(3
)
 
—

 
(216
)
 
(211
)
Equity securities:
 
 
 
 
 
 
 
 
 
Nonmarketable
—

 
(1
)
 
—

 
—

 
(1
)
Total equity securities
—

 
(1
)
 
—

 
—

 
(1
)
Other liabilities
—

 
—

 
—

 
—

 
—

(1)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).


138
Note 16: Fair Values of Assets and Liabilities (continued)

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2018, are presented in Table 16.9.

Table 16.9: Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis – Six months ended June 30, 2018
  
Balance,
beginning
of period

 
Total net gains
(losses) included in
 
 
Purchases,
sales,
issuances
and
settlements,
net (1)

 
  

 
  

 
  

 
Net unrealized
gains (losses)
included in
income related
to assets and
liabilities held
at period end

  
(in millions)
 
Net
income 

 
Other
compre-
hensive
income

 
 
Transfers
into
Level 3 (2)

 
Transfers
out of
Level 3 (3)

 
Balance,
end of
period

 
(4)
Six months ended June 30, 2018
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Securities of U.S. states and
political subdivisions
$
3

 
—

 
—

 
—

 
—

 
—

 
3

 
—

  
Collateralized loan obligations
354

 
(4
)
 
—

 
(59
)
 
—

 
—

 
291

 
—

  
Corporate debt securities
31

 
—

 
—

 
6

 
—

 
(1
)
 
36

 
—

  
Other trading debt securities
19

 
(2
)
 
—

 
—

 
—

 
—

 
17

 
—

 
Total trading debt securities
407

 
(6
)
 
—

 
(53
)
 
—

 
(1
)
 
347

 
—

(5)
Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
 
  
 
  
 
  
  
Securities of U.S. states and political subdivisions
925

 
5

 
(2
)
 
(90
)
 
—

 
(279
)
 
559

 
—

  
Mortgage-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Residential
1

 
—

 
(1
)
 
—

 
—

 
—

 
—

 
—

  
Commercial
75

 
1

 
(2
)
 
(21
)
 
—

 
—

 
53

 
—

  
Total mortgage-backed securities
76

 
1

 
(3
)
 
(21
)
 
—

 
—

 
53

 
—

 
Corporate debt securities
407

 
2

 
4

 
30

 
—

 
—

 
443

 
—

  
Collateralized loan and other debt obligations
1,020

 
11

 
53

 
(47
)
 
—

 
—

 
1,037

 
—

  
Asset-backed securities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Other asset-backed securities
566

 
8

 
(8
)
 
(165
)
 
—

 
—

 
401

 
—

  
Total asset-backed securities
566

 
8

 
(8
)
 
(165
)
 
—

 
—

 
401

 
—

  
Total available-for-sale debt securities
2,994

 
27

 
44

 
(293
)
 
—

 
(279
)
 
2,493

 
—

(6)
Mortgage loans held for sale
998

 
(34
)
 
—

 
(12
)
 
40

 
(6
)
 
986

 
(32
)
(7)
Loans held for sale
14

 
1

 
—

 
(16
)
 
21

 
—

 
20

 
—

 
Loans
376

 
(1
)
 
—

 
(54
)
 
—

 
—

 
321

 
(7
)
(7)
Mortgage servicing rights (residential) (8)
13,625

 
732

 
—

 
1,054

 
—

 
—

 
15,411

 
1,675

(7)
Net derivative assets and liabilities:
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
  
Interest rate contracts
71

 
(408
)
 
—

 
296

 
—

 
—

 
(41
)
 
(94
)
  
Commodity contracts
19

 
30

 
—

 
(26
)
 
3

 
—

 
26

 
22

  
Equity contracts
(511
)
 
57

 
—

 
64

 
—

 
51

 
(339
)
 
80

  
Foreign exchange contracts
7

 
(25
)
 
—

 
3

 
—

 
—

 
(15
)
 
(17
)
  
Credit contracts
36

 
(4
)
 
—

 
(8
)
 
—

 
—

 
24

 
(8
)
  
Total derivative contracts
(378
)
 
(350
)
 
—

 
329

 
3

 
51

 
(345
)
 
(17
)
(9)
Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonmarketable
5,203

 
693

 
—

 
(96
)
 
10

 
(4
)
 
5,806

 
687

 
Total equity securities
5,203

 
693

 
—

 
(96
)
 
10

 
(4
)
 
5,806

 
687

(10)
Other liabilities
(3
)
 
1

 
—

 
—

 
—

 
—

 
(2
)
 
—

(7)
(1)
See Table 16.10 for detail.
(2)
All assets and liabilities transferred into level 3 were previously classified within level 2.
(3)
All assets and liabilities transferred out of level 3 are classified as level 2.
(4)
Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the collection/realization of cash flows over time.
(5)
Included in net gains (losses) from trading activities in the income statement.
(6)
Included in net gains (losses) on debt securities in the income statement.
(7)
Included in mortgage banking and other noninterest income in the income statement.
(8)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).
(9)
Included in mortgage banking, trading activities, equity securities and other noninterest income in the income statement.
(10)
Included in net gains (losses) from equity securities in the income statement.
 
(continued on following page)

139

(continued from previous page)

Table 16.10 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the first half of 2018.
 
Table 16.10: Gross Purchases, Sales, Issuances and Settlements – Level 3 – Six months ended June 30, 2018
(in millions)
Purchases

 
Sales

 
Issuances

 
Settlements

 
Net

Six months ended June 30, 2018
  
 
  
 
  
 
  
 
  
Trading debt securities:
  
 
  
 
  
 
  
 
  
Securities of U.S. states and political subdivisions
$
—

 
—

 
—

 
—

 
—

Collateralized loan obligations
271

 
(230
)
 
—

 
(100
)
 
(59
)
Corporate debt securities
8

 
(2
)
 
—

 
—

 
6

Other trading debt securities
—

 
—

 
—

 
—

 
—

Total trading debt securities
279

 
(232
)
 
—

 
(100
)
 
(53
)
Available-for-sale debt securities:
  
 
  
 
  
 
  
 
  
Securities of U.S. states and political subdivisions
—

 
(4
)
 
10

 
(96
)
 
(90
)
Mortgage-backed securities:
  
 
  
 
  
 
  
 
 
Residential
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
(21
)
 
(21
)
Total mortgage-backed securities
—

 
—

 
—

 
(21
)
 
(21
)
Corporate debt securities
31

 
—

 
—

 
(1
)
 
30

Collateralized loan and other debt obligations
—

 
—

 
—

 
(47
)
 
(47
)
Asset-backed securities:
 
 
 
 
 
 
 
 
 
Other asset-backed securities
—

 
(8
)
 
58

 
(215
)
 
(165
)
Total asset-backed securities
—

 
(8
)
 
58

 
(215
)
 
(165
)
Total available-for-sale debt securities
31

 
(12
)
 
68

 
(380
)
 
(293
)
Mortgage loans held for sale
47

 
(151
)
 
167

 
(75
)
 
(12
)
Loans held for sale
—

 
(16
)
 
—

 
—

 
(16
)
Loans
1

 
—

 
8

 
(63
)
 
(54
)
Mortgage servicing rights (residential) (1)
—

 
(5
)
 
1,059

 
—

 
1,054

Net derivative assets and liabilities:
  
 
  
 
  
 
  
 
 
Interest rate contracts
—

 
—

 
—

 
296

 
296

Commodity contracts
—

 
—

 
—

 
(26
)
 
(26
)
Equity contracts
—

 
—

 
—

 
64

 
64

Foreign exchange contracts
—

 
—

 
—

 
3

 
3

Credit contracts
8

 
(4
)
 
—

 
(12
)
 
(8
)
Total derivative contracts
8

 
(4
)
 
—

 
325

 
329

Equity securities:
 
 
 
 
 
 
 
 
 
Nonmarketable
—

 
(17
)
 
—

 
(79
)
 
(96
)
Total equity securities
—

 
(17
)
 
—

 
(79
)
 
(96
)
Other liabilities
—

 
—

 
—

 
—

 
—

(1)
For more information on the changes in mortgage servicing rights, see Note 11 (Mortgage Banking Activities).

Table 16.11 and Table 16.12 provide quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets and liabilities measured at fair value on a recurring basis for which we use an internal model.
The significant unobservable inputs for Level 3 assets and liabilities that are valued using fair values obtained from third party vendors are not included in the table, as the specific inputs applied are not provided by the vendor. In addition, the table excludes the valuation techniques and significant unobservable inputs for certain classes of Level 3 assets and liabilities measured using an internal model that we consider, both individually and in the aggregate, insignificant relative to our overall Level 3 assets and liabilities. We made this determination based upon an evaluation of each class, which considered the magnitude of the positions, nature of the unobservable inputs and potential for significant changes in fair value due to changes in those inputs. For information on how changes in significant unobservable inputs affect the fair values of Level 3 assets and liabilities, see Note 18 (Fair Values of Assets and Liabilities) in our 2018 Form 10-K. 

140
Note 16: Fair Values of Assets and Liabilities (continued)

Table 16.11: Valuation Techniques – Recurring Basis – June 30, 2019
($ in millions, except cost to service amounts)
Fair Value Level 3

 
Valuation Technique(s)
 
Significant Unobservable Input
 
Range of Inputs 
 
 
 
Weighted
Average (1)

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Trading and available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. states and
political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
 
Government, healthcare and
other revenue bonds
$
353

 
Discounted cash flow
 
Discount rate
 
1.5

-
6.2

%
 
3.0

 
38

 
Vendor priced
 
 
 
 
 
 
 
 
 
Collateralized loan and other debt
obligations (2)
249

 
Market comparable pricing
 
Comparability adjustment
 
(11.3
)
-
20.0

 
 
1.7

 
649

 
Vendor priced
 
 
 
 
 
 
 
 
 
Corporate debt securities
232

 
Discounted cash flow
 
Discount rate
 
2.0

 
14.9

 
 
8.5

 
66

 
Market comparable pricing
 
Comparability adjustment
 
(14.0
)
 
14.4

 
 
(2.8
)
 
129

 
Vendor priced
 
 
 
 
 
 
 
 
 
Asset-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Diversified payment rights (3)
132

 
Discounted cash flow
 
Discount rate
 
2.5

-
4.9

 
 
3.4

Other commercial and consumer
194

(4)
Discounted cash flow
 
Discount rate
 
3.9

-
4.8

 
 
4.0

 
 
 
 
 
Weighted average life
 
1.3

-
1.9

yrs
 
1.8

 
15

 
Vendor priced
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale (residential)
1,101

 
Discounted cash flow
 
Default rate
 
0.0

-
18.4

%
 
0.8

 
 
 
 
 
Discount rate
 
3.0

-
6.3

 
 
4.6

 
 
 
 
 
Loss severity
 
0.0

-
46.4

 
 
25.0

 
 
 
 
 
Prepayment rate
 
4.3

-
14.4

 
 
6.1

 
14

 
Market comparable pricing
 
Comparability adjustment
 
(56.3
)
-
(25.0
)
 
 
(40.9
)
Loans
202

(5)
Discounted cash flow
 
Discount rate
 
3.9

-
4.4

 
 
4.1

 
 
 
 
 
Prepayment rate
 
4.4

-
100.0

 
 
85.6

 
 
 
 
 
Loss severity
 
0.0

-
34.8

 
 
12.0

Mortgage servicing rights (residential)
12,096

 
Discounted cash flow
 
Cost to service per loan (6)
 
$
63

-
482

 
 
104

 
 
 
 
 
Discount rate
 
6.5

-
13.2

%
 
7.4

 
 
 
 
 
Prepayment rate (7)
 
10.6

-
24.6

 
 
12.2

Net derivative assets and (liabilities):
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
111

 
Discounted cash flow
 
Default rate
 
0.0

-
5.0

 
 
2.0

 
 
 
 
 
Loss severity
 
50.0

-
50.0

 
 
50.0

 
 
 
 
 
Prepayment rate
 
2.8

-
25.0

 
 
15.3

Interest rate contracts: derivative loan
commitments
94

 
Discounted cash flow
 
Fall-out factor
 
1.0

-
99.0

 
 
19.5

 
 
 
 
 
Initial-value servicing
 
(40.5
)
-
67.1

bps
 
12.3

Equity contracts
146

 
Discounted cash flow
 
Conversion factor
 
(8.9
)
-
0.0

%
 
(8.3
)
 
 
 
 
 
Weighted average life
 
1.0

-
3.5

yrs
 
2.0

 
(374
)
 
Option model
 
Correlation factor
 
(77.0
)
-
98.5

%
 
63.9

 
 
 
 
 
Volatility factor
 
6.5

-
105.2

 
 
24.1

Credit contracts
2

 
Market comparable pricing
 
Comparability adjustment
 
(48.3
)
-
29.6

 
 
(6.9
)
 
43

 
Option model
 
Credit spread
 
0.1

-
21.4

 
 
0.9

 
 
 
 
 
Loss severity
 
13.0

-
60.0

 
 
45.6

Nonmarketable equity securities
7,110

 
Market comparable pricing
 
Comparability adjustment
 
(21.7
)
-
(6.3
)
 
 
(16.6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Insignificant Level 3 assets, net of liabilities
26

(8)
 
 
 
 
 
 
 
 
 
 
Total level 3 assets, net of liabilities
$
22,628

(9)
 
 
 
 
 
 
 
 
 
 
(1)
Weighted averages are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments.
(2)
Includes $649 million of collateralized debt obligations.
(3)
Securities backed by specified sources of current and future receivables generated from foreign originators.
(4)
Predominantly consists of investments in asset-backed securities that are revolving in nature, for which the timing of advances and repayments of principal are uncertain.
(5)
Consists of reverse mortgage loans.
(6)
The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $63 - $208.
(7)
Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior.
(8)
Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes mortgage-backed securities, other trading positions, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and foreign exchange contracts.
(9)
Consists of total Level 3 assets of $24.9 billion and total Level 3 liabilities of $2.3 billion, before netting of derivative balances.


141

Table 16.12: Valuation Techniques – Recurring Basis – December 31, 2018

($ in millions, except cost to service amounts)
Fair Value Level 3

 
Valuation Technique(s)
 
Significant Unobservable Input
 
Range of Inputs 
 
 
 
Weighted
Average (1)

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Trading and available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
Securities of U.S. states and
political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
 
Government, healthcare and
other revenue bonds
$
404

 
Discounted cash flow
 
Discount rate
 
2.1

-
6.4

%
 
3.4

 
43

 
Vendor priced
 
 
 
 
 
 
 
 
 
Collateralized loan and other debt
obligations (2)
298

 
Market comparable pricing
 
Comparability adjustment
 
(13.5
)
-
22.1

 
 
3.2

 
739

 
Vendor priced
 
 
 
 
 
 
 
 
 
Corporate debt securities
220

 
Discounted cash flow
 
Discount rate
 
4.0

 
11.7

 
 
8.5

 
56

 
Market comparable pricing
 
Comparability adjustment
 
(11.3
)
 
16.6

 
 
(1.4
)
 
128

 
Vendor priced
 
 
 
 
 
 
 
 
 
Asset-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Diversified payment rights (3)
171

 
Discounted cash flow
 
Discount rate
 
3.4

-
6.2

 
 
4.4

Other commercial and consumer
198

(4)
Discounted cash flow
 
Discount rate
 
4.6

-
5.2

 
 
4.7

 
 
 
 
 
Weighted average life
 
1.1

-
1.5

yrs
 
1.1

 
20

 
Vendor priced
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale (residential)
982

 
Discounted cash flow
 
Default rate
 
0.0

-
15.6

%
 
0.8

 
 
 
 
 
Discount rate
 
1.1

-
6.6

 
 
5.5

 
 
 
 
 
Loss severity
 
—

-
43.3

 
 
23.4

 
 
 
 
 
Prepayment rate
 
3.2

-
13.4

 
 
4.6

 
15

 
Market comparable pricing
 
Comparability adjustment
 
(56.3
)
-
(6.3
)
 
 
(36.3
)
Loans
244

(5)
Discounted cash flow
 
Discount rate
 
3.4

-
6.4

 
 
4.2

 
 
 
 
 
Prepayment rate
 
2.9

-
100.0

 
 
87.2

 
 
 
 
 
Loss severity
 
0.0

-
34.8

 
 
10.2

Mortgage servicing rights (residential)
14,649

 
Discounted cash flow
 
Cost to service per loan (6)
 
$
62

-
507

 
 
106

 
 
 
 
 
Discount rate
 
7.1

-
15.3

%
 
8.1

 
 
 
 
 
Prepayment rate (7)
 
9.0

-
23.5

 
 
9.9

Net derivative assets and (liabilities):
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
(35
)
 
Discounted cash flow
 
Default rate
 
0.0

-
5.0

 
 
2.0

 
 
 
 
 
Loss severity
 
50.0

-
50.0

 
 
50.0

 
 
 
 
 
Prepayment rate
 
2.8

-
25.0

 
 
13.8

Interest rate contracts: derivative loan
commitments
60

 
Discounted cash flow
 
Fall-out factor
 
1.0

-
99.0

 
 
19.4

 
 
 
 
 
Initial-value servicing
 
(36.6
)
-
91.7

bps
 
18.5

Equity contracts
104

 
Discounted cash flow
 
Conversion factor
 
(9.3
)
-
0.0

%
 
(7.8
)
 
 
 
 
 
Weighted average life
 
1.0

-
3.0

yrs
 
1.8

 
(121
)
 
Option model
 
Correlation factor
 
(77.0
)
-
99.0

%
 
21.6

 
 
 
 
 
Volatility factor
 
6.5

-
100.0

 
 
21.8

Credit contracts
3

 
Market comparable pricing
 
Comparability adjustment
 
(15.5
)
-
40.0

 
 
3.5

 
32

 
Option model
 
Credit spread
 
0.9

-
21.5

 
 
1.3

 
 
 
 
 
Loss severity
 
13.0

-
60.0

 
 
45.2

Nonmarketable equity securities
5,468

 
Market comparable pricing
 
Comparability adjustment
 
(20.6
)
-
(4.3
)
 
 
(15.8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Insignificant Level 3 assets, net of liabilities
93

(8)
 
 
 
 
 
 
 
 
 
 
Total level 3 assets, net of liabilities
$
23,771

(9)
 
 
 
 
 
 
 
 
 
 
(1)
Weighted averages are calculated using outstanding unpaid principal balance for cash instruments, such as loans and securities, and notional amounts for derivative instruments.
(2)
Includes $800 million of collateralized debt obligations.
(3)
Securities backed by specified sources of current and future receivables generated from foreign originators.
(4)
Predominantly consists of investments in asset-backed securities that are revolving in nature, for which the timing of advances and repayments of principal are uncertain.
(5)
Consists of reverse mortgage loans.
(6)
The high end of the range of inputs is for servicing modified loans. For non-modified loans the range is $62 - $204.
(7)
Includes a blend of prepayment speeds and expected defaults. Prepayment speeds are influenced by mortgage interest rates as well as our estimation of drivers of borrower behavior.
(8)
Represents the aggregate amount of Level 3 assets and liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. The amount includes mortgage-backed securities, other trading positions, other liabilities and certain net derivative assets and liabilities, such as commodity contracts and foreign exchange contracts.
(9)
Consists of total Level 3 assets of $25.3 billion and total Level 3 liabilities of $1.6 billion, before netting of derivative balances.


142
Note 16: Fair Values of Assets and Liabilities (continued)

The valuation techniques used for our Level 3 assets and liabilities, as presented in the previous tables, are described as follows: 
•
Discounted cash flow – Discounted cash flow valuation techniques generally consist of developing an estimate of future cash flows that are expected to occur over the life of an instrument and then discounting those cash flows at a rate of return that results in the fair value amount.
•
Market comparable pricing – Market comparable pricing valuation techniques are used to determine the fair value of certain instruments by incorporating known inputs, such as recent transaction prices, pending transactions, or prices of other similar investments that require significant adjustment to reflect differences in instrument characteristics.
•
Option model – Option model valuation techniques are generally used for instruments in which the holder has a contingent right or obligation based on the occurrence of a future event, such as the price of a referenced asset going above or below a predetermined strike price. Option models estimate the likelihood of the specified event occurring by incorporating assumptions such as volatility estimates, price of the underlying instrument and expected rate of return.
•
Vendor-priced – Prices obtained from third party pricing vendors or brokers that are used to record the fair value of the asset or liability for which the related valuation technique and significant unobservable inputs are not provided.
 
Significant unobservable inputs presented in the previous tables are those we consider significant to the fair value of the Level 3 asset or liability. We consider unobservable inputs to be significant if by their exclusion the fair value of the Level 3 asset or liability would be impacted by a predetermined percentage change. We also consider qualitative factors, such as nature of the instrument, type of valuation technique used, and the significance of the unobservable inputs relative to other inputs used within the valuation. Following is a description of the significant unobservable inputs provided in the table. 
•
Comparability adjustment – is an adjustment made to observed market data, such as a transaction price in order to reflect dissimilarities in underlying collateral, issuer, rating, or other factors used within a market valuation approach, expressed as a percentage of an observed price.
•
Conversion Factor – is the risk-adjusted rate in which a particular instrument may be exchanged for another instrument upon settlement, expressed as a percentage change from a specified rate.
•
Correlation factor – is the likelihood of one instrument changing in price relative to another based on an established relationship expressed as a percentage of relative change in price over a period over time.

 
•
Cost to service – is the expected cost per loan of servicing a portfolio of loans, which includes estimates for unreimbursed expenses (including delinquency and foreclosure costs) that may occur as a result of servicing such loan portfolios.
•
Credit spread – is the portion of the interest rate in excess of a benchmark interest rate, such as Overnight Index Swap (OIS), LIBOR or U.S. Treasury rates, that when applied to an investment captures changes in the obligor’s creditworthiness.
•
Default rate – is an estimate of the likelihood of not collecting contractual amounts owed expressed as a constant default rate (CDR).
•
Discount rate – is a rate of return used to calculate the present value of the future expected cash flow to arrive at the fair value of an instrument. The discount rate consists of a benchmark rate component and a risk premium component. The benchmark rate component, for example, OIS, LIBOR or U.S. Treasury rates, is generally observable within the market and is necessary to appropriately reflect the time value of money. The risk premium component reflects the amount of compensation market participants require due to the uncertainty inherent in the instruments’ cash flows resulting from risks such as credit and liquidity.
•
Fall-out factor – is the expected percentage of loans associated with our interest rate lock commitment portfolio that are likely of not funding.
•
Initial-value servicing – is the estimated value of the underlying loan, including the value attributable to the embedded servicing right, expressed in basis points of outstanding unpaid principal balance.
•
Loss severity – is the estimated percentage of contractual cash flows lost in the event of a default.
•
Prepayment rate – is the estimated rate at which forecasted prepayments of principal of the related loan or debt instrument are expected to occur, expressed as a constant prepayment rate (CPR).
•
Volatility factor – is the extent of change in price an item is estimated to fluctuate over a specified period of time expressed as a percentage of relative change in price over a period over time.
•
Weighted average life – is the weighted average number of years an investment is expected to remain outstanding based on its expected cash flows reflecting the estimated date the issuer will call or extend the maturity of the instrument or otherwise reflecting an estimate of the timing of an instrument’s cash flows whose timing is not contractually fixed.


143

Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis
We may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of LOCOM accounting, write-downs of individual assets or use of the measurement alternative for nonmarketable equity securities.
 
Table 16.13 provides the fair value hierarchy and fair value at the date of the nonrecurring fair value adjustment for all assets that were still held as of June 30, 2019 and December 31, 2018, and for which a nonrecurring fair value adjustment was recorded during the six months ended June 30, 2019 and year ended December 31, 2018.
Table 16.13: Fair Value on a Nonrecurring Basis
 
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Level 1

 
Level 2

 
Level 3

 
Total

 
Level 1

 
Level 2

 
Level 3

 
Total

Mortgage loans held for sale (LOCOM) (1)
$
—

 
1,865

 
3,148

 
5,013

 
—

 
1,213

 
1,233

 
2,446

Loans held for sale
—

 
26

 
—

 
26

 
—

 
313

 
—

 
313

Loans:
 
 
 
 
 
 
  
 
 
 
 
 
 
 
  
Commercial
—

 
215

 
—

 
215

 
—

 
339

 
—

 
339

Consumer
—

 
164

 
1

 
165

 
—

 
346

 
1

 
347

Total loans (2)
—

 
379

 
1

 
380

 
—

 
685

 
1

 
686

Nonmarketable equity securities (3)
—

 
812

 
83

 
895

 
—

 
774

 
157

 
931

Other assets (4)
—

 
153

 
—

 
153

 
—

 
149

 
6

 
155

Total assets at fair value on a nonrecurring basis
$
—

 
3,235

 
3,232

 
6,467

 
—

 
3,134

 
1,397

 
4,531

(1)
Consists of commercial mortgages and residential real estate 1-4 family first mortgage loans.
(2)
Represents the carrying value of loans for which nonrecurring adjustments are based on the appraised value of the collateral.
(3)
Consists of certain nonmarketable equity securities that are measured at fair value on a nonrecurring basis, including observable price adjustments for nonmarketable equity securities carried under the measurement alternative.
(4)
Includes the fair value of foreclosed real estate, other collateral owned and operating lease assets.
Table 16.14 presents the increase (decrease) in value of certain assets held at the end of the respective reporting periods presented for which a nonrecurring fair value adjustment was recognized during the periods presented.
Table 16.14: Change in Value of Assets with Nonrecurring Fair Value Adjustment
 
Six months ended June 30,
 
(in millions)
2019

 
2018

Mortgage loans held for sale (LOCOM)
$
18

 
13

Loans held for sale
(2
)
 
(78
)
Loans:
 
 
  
Commercial
(106
)
 
(138
)
Consumer
(121
)
 
(185
)
Total loans (1)
(227
)
 
(323
)
Nonmarketable equity securities (2)
264

 
(17
)
Other assets (3)
(29
)
 
(30
)
Total
$
24

 
(435
)
(1)
Represents write-downs of loans based on the appraised value of the collateral.
(2)
Includes impairment losses for nonmarketable equity securities accounted for under the equity method and measurement alternative. Also includes observable price adjustments for nonmarketable equity securities accounted for under the measurement alternative.
(3)
Includes the losses on foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets.

 

144
Note 16: Fair Values of Assets and Liabilities (continued)

Table 16.15 provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of substantially all of our Level 3 assets that are measured at fair value on a nonrecurring basis using an internal model. The table is limited to financial instruments that had nonrecurring fair value adjustments during the periods presented.
We have excluded from the table valuation techniques and significant unobservable inputs for certain classes of Level 3
 
assets measured using an internal model that we consider, both individually and in the aggregate, insignificant relative to our overall Level 3 nonrecurring measurements. We made this determination based upon an evaluation of each class that considered the magnitude of the positions, nature of the unobservable inputs and potential for significant changes in fair value due to changes in those inputs.
 
Table 16.15: Valuation Techniques – Nonrecurring Basis
($ in millions)
Fair Value
Level 3

 
Valuation
Technique(s) (1)
 
Significant
Unobservable Inputs (1)
 
Range of inputs
 
Weighted
Average (2)

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans held for sale (LOCOM)
$
3,148

(3)
Discounted cash flow
 
Default rate
(4)
0.3
—
5.7
%
 
1.4
%
 
 
 
 
 
Discount rate
 
1.5
—
9.5

 
4.8

 
 
 
 
 
Loss severity
 
0.5
—
62.3

 
24.7

 
 
 
 
 
Prepayment rate
(5)
5.1
—
100.0

 
21.6

Nonmarketable equity securities
—

 
Discounted cash flow
 
Discount rate
 
—
—
—

 
—

Insignificant level 3 assets
84

 
 
 
 
 
 
 
 
 
 
Total
$
3,232

 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage loans held for sale (LOCOM)
$
1,233

(3)
Discounted cash flow
 
Default rate
(4)
0.2
—
2.3
%
 
1.4
%
 
 
 
 
 
Discount rate
 
1.5
—
8.5

 
4.0

 
 
 
 
 
Loss severity
 
0.5
—
66.0

 
1.7

 
 
 
 
 
Prepayment rate
(5)
3.5
—
100.0

 
46.5

Nonmarketable equity securities
7

 
Discounted cash flow
 
Discount rate
 
10.5
—
10.5

 
10.5

Insignificant level 3 assets
157

 
 
 
 
 
 
 
 
 
 
Total
$
1,397

 
 
 
 
 
 
 
 
 
 
(1)
Refer to the narrative following Table 16.12 for a definition of the valuation technique(s) and significant unobservable inputs.
(2)
For residential MLHFS, weighted averages are calculated using the outstanding unpaid principal balance of the loans.
(3)
Consists of approximately $1.3 billion and $1.2 billion of government insured/guaranteed loans purchased from GNMA-guaranteed mortgage securitizations at June 30, 2019, and December 31, 2018, respectively, and $1.8 billion and $27 million, respectively, of other mortgage loans that are not government insured/guaranteed.
(4)
Applies only to non-government insured/guaranteed loans.
(5)
Includes the impact on prepayment rate of expected defaults for government insured/guaranteed loans, which impact the frequency and timing of early resolution of loans.


145

Fair Value Option
The fair value option is an irrevocable election, generally only permitted upon initial recognition of financial assets or liabilities, to measure eligible financial instruments at fair value with changes in fair value reflected in earnings. We may elect the fair value option to align the measurement model with how the financial assets or liabilities are managed or to reduce complexity
 
or accounting asymmetry. For more information, including the basis for our fair value option elections, see Note 18 (Fair Values of Assets and Liabilities) in our 2018 Form 10-K.
Table 16.16 reflects differences between the fair value carrying amount of the assets for which we have elected the fair value option and the contractual aggregate unpaid principal amount at maturity. 
Table 16.16: Fair Value Option
  
June 30, 2019
 
 
December 31, 2018
 
(in millions)
Fair value
carrying
amount

 
Aggregate
unpaid
principal

 
Fair value
carrying
amount
less
aggregate
unpaid
principal

 
Fair value
carrying
amount

 
Aggregate
unpaid
principal

 
Fair value
carrying
amount
less
aggregate
unpaid
principal

Mortgage loans held for sale:
 
 
 
 
 
 
 
 
 
 
 
Total loans
$
16,343

 
15,906

 
437

 
11,771

 
11,573

 
198

Nonaccrual loans
130

 
155

 
(25
)
 
127

 
158

 
(31
)
Loans 90 days or more past due and still accruing
8

 
10

 
(2
)
 
7

 
9

 
(2
)
Loans held for sale:
 
 
 
 
 
 
 
 
 
 
 
Total loans
1,118

 
1,166

 
(48
)
 
1,469

 
1,536

 
(67
)
Nonaccrual loans
57

 
65

 
(8
)
 
21

 
32

 
(11
)
Loans:
 
 
 
 
 
 
 
 
 
 
 
Total loans
202

 
231

 
(29
)
 
244

 
274

 
(30
)
Nonaccrual loans
150

 
179

 
(29
)
 
179

 
208

 
(29
)



146
Note 16: Fair Values of Assets and Liabilities (continued)

The assets accounted for under the fair value option are initially measured at fair value. Gains and losses from initial measurement and subsequent changes in fair value are recognized in earnings. The changes in fair value related to initial measurement and subsequent changes in fair value included in
 
earnings for these assets measured at fair value are shown in Table 16.17 by income statement line item. Amounts recorded as interest income are excluded from Table 16.17.
Table 16.17: Fair Value Option – Changes in Fair Value Included in Earnings
  
2019
 
 
2018
 
(in millions)
Mortgage banking noninterest income

 
Net gains
(losses)
from
trading
activities

 
Other
noninterest
income

 
Mortgage
banking
noninterest
income

 
Net gains (losses)
from
trading
activities

 
Other
noninterest
income

Quarter ended June 30,
 
 
  

 
  

 
  

 
  

 
  

Mortgage loans held for sale
$
379

 
—

 
—

 
114

 
—

 
—

Loans held for sale
—

 
(4
)
 
—

 
—

 
9

 
—

Loans
—

 
—

 
1

 
—

 
—

 
—

Other interests held (1)
—

 
(1
)
 
—

 
—

 
(1
)
 
—

Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale
$
593

 
—

 
—

 
55

 
—

 
—

Loans held for sale
—

 
10

 
1

 
—

 
15

 
—

Loans
—

 
—

 
1

 
—

 
—

 
(1
)
Other interests held (1)
—

 
(2
)
 
—

 
—

 
(2
)
 
—

(1)
Includes retained interests in securitizations.

For performing loans, instrument-specific credit risk gains or losses were derived principally by determining the change in fair value of the loans due to changes in the observable or implied credit spread. Credit spread is the market yield on the loans less the relevant risk-free benchmark interest rate. For nonperforming loans, we attribute all changes in fair value to
 
instrument-specific credit risk. Table 16.18 shows the estimated gains and losses from earnings attributable to instrument-specific credit risk related to assets accounted for under the fair value option.

Table 16.18: Fair Value Option – Gains/Losses Attributable to Instrument-Specific Credit Risk
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Gains (losses) attributable to instrument-specific credit risk:
  

 
  

 
 
 
 
Mortgage loans held for sale
$
16

 
(2
)
 
12

 
(1
)
Loans held for sale
(3
)
 
9

 
11

 
15

Total
$
13

 
7

 
23

 
14



Disclosures about Fair Value of Financial Instruments
Table 16.19 is a summary of fair value estimates for financial instruments, excluding financial instruments recorded at fair value on a recurring basis, as they are included within Table 16.2 in this Note. The carrying amounts in the following table are recorded on the balance sheet under the indicated captions.
 
We have not included assets and liabilities that are not financial instruments in our disclosure, such as the value of the long-term relationships with our deposit, credit card and trust customers, amortized MSRs, premises and equipment, goodwill and other intangibles, deferred taxes and other liabilities.
The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company.

147

Table 16.19: Fair Value Estimates for Financial Instruments
 
 
 
Estimated fair value
 
(in millions)
Carrying amount

 
Level 1

 
Level 2

 
Level 3

 
Total

June 30, 2019
 
 
 
 
 
 
 
 
 
Financial assets
 
 
 
 
 
 
 
 
 
Cash and due from banks (1)
$
20,880

 
20,880

 
—

 
—

 
20,880

Interest-earning deposits with banks (1)
143,547

 
143,312

 
235

 
—

 
143,547

Federal funds sold and securities purchased under resale agreements (1)
112,119

 
—

 
112,119

 
—

 
112,119

Held-to-maturity debt securities
145,876

 
45,336

 
101,943

 
585

 
147,864

Mortgage loans held for sale
6,655

 
—

 
3,548

 
4,102

 
7,650

Loans held for sale
63

 
—

 
63

 
—

 
63

Loans, net (2)
920,977

 
—

 
49,839

 
878,601

 
928,440

Nonmarketable equity securities (cost method)
5,622

 
—

 
—

 
5,654

 
5,654

Total financial assets
$
1,355,739

 
209,528

 
267,747

 
888,942

 
1,366,217

Financial liabilities
 
 
 
 
 
 
 
 
 
Deposits (3)
$
139,343

 
—

 
106,653

 
32,549

 
139,202

Short-term borrowings
115,344

 
—

 
115,345

 
—

 
115,345

Long-term debt (4)
241,441

 
—

 
242,529

 
1,626

 
244,155

Total financial liabilities
$
496,128


—


464,527


34,175

 
498,702

December 31, 2018
 
 
 
 
 
 
 
 
 
Financial assets
 
 
 
 
 
 
 
 
 
Cash and due from banks (1)
$
23,551

 
23,551

 
—

 
—

 
23,551

Interest-earning deposits with banks (1)
149,736

 
149,542

 
194

 
—

 
149,736

Federal funds sold and securities purchased under resale agreements (1)
80,207

 
—

 
80,207

 
—

 
80,207

Held-to-maturity debt securities
144,788

 
44,339

 
97,275

 
501

 
142,115

Mortgage loans held for sale
3,355

 
—

 
2,129

 
1,233

 
3,362

Loans held for sale
572

 
—

 
572

 
—

 
572

Loans, net (2)
923,703

 
—

 
45,190

 
872,725

 
917,915

Nonmarketable equity securities (cost method)
5,643

 
—

 
—

 
5,675

 
5,675

Total financial assets
$
1,331,555

 
217,432

 
225,567

 
880,134

 
1,323,133

Financial liabilities
 
 
 
 
 
 
 
 
 
Deposits (3)
$
130,645

 
—

 
107,448

 
22,641

 
130,089

Short-term borrowings
105,787

 
—

 
105,789

 
—

 
105,789

Long-term debt (4)
229,008

 
—

 
225,904

 
2,230

 
228,134

Total financial liabilities
$
465,440


—


439,141


24,871

 
464,012

(1)
Amounts consist of financial instruments for which carrying value approximates fair value.
(2)
Excludes lease financing with a carrying amount of $19.0 billion and $19.7 billion at June 30, 2019, and December 31, 2018, respectively.
(3)
Excludes deposit liabilities with no defined or contractual maturity of $1.1 trillion and $1.2 trillion at June 30, 2019 and December 31, 2018, respectively.
(4)
Excludes capital lease obligations under capital leases of $35 million and $36 million at June 30, 2019, and December 31, 2018, respectively.
Loan commitments, standby letters of credit and commercial and similar letters of credit are not included in Table 16.19. A reasonable estimate of the fair value of these instruments is the carrying value of deferred fees plus the allowance for unfunded credit commitments, which totaled $1.0 billion at both June 30, 2019, and December 31, 2018.

148
Note 17: Preferred Stock (continued)

Note 17: Preferred Stock
We are authorized to issue 20 million shares of preferred stock and 4 million shares of preference stock, both without par value. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference but have no general voting rights. We have not issued any preference shares under
 
this authorization. If issued, preference shares would be limited to one vote per share. Our total authorized, issued and outstanding preferred stock is presented in the following two tables along with the Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock.

Table 17.1: Preferred Stock Shares
 
June 30, 2019
 
 
December 31, 2018
 
 
Liquidation
preference
per share

 
Shares
authorized
and designated

 
Liquidation
preference
per share

 
Shares
authorized
and designated

DEP Shares
 
 
 
 
 
 
 
Dividend Equalization Preferred Shares (DEP)
$
10

 
97,000

 
$
10

 
97,000

Series I
 
 
 
 
 
 
 
Floating Class A Preferred Stock (1)
100,000

 
25,010

 
100,000

 
25,010

Series K
 
 
 
 
 
 
 
Floating Non-Cumulative Perpetual Class A Preferred Stock (2)
1,000

 
3,500,000

 
1,000

 
3,500,000

Series L
 
 
 
 
 
 
 
7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock
1,000

 
4,025,000

 
1,000

 
4,025,000

Series N
 
 
 
 
 
 
 
5.20% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
30,000

 
25,000

 
30,000

Series O
 
 
 
 
 
 
 
5.125% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
27,600

 
25,000

 
27,600

Series P
 
 
 
 
 
 
 
5.25% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
26,400

 
25,000

 
26,400

Series Q
 
 
 
 
 
 
 
5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
69,000

 
25,000

 
69,000

Series R
 
 
 
 
 
 
 
6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
34,500

 
25,000

 
34,500

Series S
 
 
 
 
 
 
 
5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
80,000

 
25,000

 
80,000

Series T
 
 
 
 
 
 
 
6.00% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
32,200

 
25,000

 
32,200

Series U
 
 
 
 
 
 
 
5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
80,000

 
25,000

 
80,000

Series V
 
 
 
 
 
 
 
6.00% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
40,000

 
25,000

 
40,000

Series W
 
 
 
 
 
 
 
5.70% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
40,000

 
25,000

 
40,000

Series X
 
 
 
 
 
 
 
5.50% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
46,000

 
25,000

 
46,000

Series Y
 
 
 
 
 
 
 
5.625% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
27,600

 
25,000

 
27,600

ESOP
 
 
 
 
 
 
 
Cumulative Convertible Preferred Stock (3)
—

 
1,213,418

 
—

 
1,406,460

Total
 
 
9,393,728

 
 
 
9,586,770

(1)
Series I preferred stock issuance relates to trust preferred securities. See Note 10 (Securitizations and Variable Interest Entities) for additional information. This issuance has a floating interest rate that is the greater of three-month LIBOR plus 0.93% and 5.56975%.
(2)
Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%.
(3)
See the ESOP Cumulative Convertible Preferred Stock section in this Note for additional information about the liquidation preference for the ESOP Cumulative Convertible Preferred Stock.

149

Table 17.2: Preferred Stock – Shares Issued and Carrying Value
 
June 30, 2019
 
 
December 31, 2018
 
(in millions, except shares)
Shares
issued and
outstanding

 
Liquidation preference
value

 
Carrying
value

 
Discount

 
Shares
issued and
outstanding

 
Liquidation preference
value

 
Carrying
value

 
Discount

DEP Shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividend Equalization Preferred Shares (DEP)
96,546

 
$
—

 
—

 
—

 
96,546

 
$
—

 
—

 
—

Series I (1)(2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Floating Class A Preferred Stock
25,010

 
2,501

 
2,501

 
—

 
25,010

 
2,501

 
2,501

 
—

Series K (1)(3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Floating Non-Cumulative Perpetual Class A Preferred Stock
3,352,000

 
3,352

 
2,876

 
476

 
3,352,000

 
3,352

 
2,876

 
476

Series L (1) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock
3,967,995

 
3,968

 
3,200

 
768

 
3,968,000

 
3,968

 
3,200

 
768

Series N (1) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.20% Non-Cumulative Perpetual Class A Preferred Stock
30,000

 
750

 
750

 
—

 
30,000

 
750

 
750

 
—

Series O (1) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.125% Non-Cumulative Perpetual Class A Preferred Stock
26,000

 
650

 
650

 
—

 
26,000

 
650

 
650

 
—

Series P (1) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.25% Non-Cumulative Perpetual Class A Preferred Stock
25,000

 
625

 
625

 
—

 
25,000

 
625

 
625

 
—

Series Q (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
69,000

 
1,725

 
1,725

 
—

 
69,000

 
1,725

 
1,725

 
—

Series R (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
33,600

 
840

 
840

 
—

 
33,600

 
840

 
840

 
—

Series S (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.90% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
80,000

 
2,000

 
2,000

 
—

 
80,000

 
2,000

 
2,000

 
—

Series T (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6.00% Non-Cumulative Perpetual Class A Preferred Stock
32,000

 
800

 
800

 
—

 
32,000

 
800

 
800

 
—

Series U (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.875% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
80,000

 
2,000

 
2,000

 
—

 
80,000

 
2,000

 
2,000

 
—

Series V (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6.00% Non-Cumulative Perpetual Class A Preferred Stock
40,000

 
1,000

 
1,000

 
—

 
40,000

 
1,000

 
1,000

 
—

Series W (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.70% Non-Cumulative Perpetual Class A Preferred Stock
40,000

 
1,000

 
1,000

 
—

 
40,000

 
1,000

 
1,000

 
—

Series X (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.50% Non-Cumulative Perpetual Class A Preferred Stock
46,000

 
1,150

 
1,150

 
—

 
46,000

 
1,150

 
1,150

 
—

Series Y (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.625% Non-Cumulative Perpetual Class A Preferred Stock
27,600

 
690

 
690

 
—

 
27,600

 
690

 
690

 
—

ESOP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative Convertible Preferred Stock
1,213,418

 
1,214

 
1,214

 
—

 
1,406,460

 
1,407

 
1,407

 
—

Total
9,184,169

 
$
24,265

 
23,021

 
1,244

 
9,377,216

 
$
24,458

 
23,214

 
1,244

(1)
Preferred shares qualify as Tier 1 capital.
(2)
Floating rate for Preferred Stock, Series I, is the greater of three-month LIBOR plus 0.93% and 5.56975%.
(3)
Floating rate for Preferred Stock, Series K, is three-month LIBOR plus 3.77%.




150
Note 17: Preferred Stock (continued)

ESOP CUMULATIVE CONVERTIBLE PREFERRED STOCK  All shares of our ESOP Cumulative Convertible Preferred Stock (ESOP Preferred Stock) were issued to a trustee acting on behalf of the Wells Fargo & Company 401(k) Plan (the 401(k) Plan). Dividends on the ESOP Preferred Stock are cumulative from the date of initial issuance and are payable quarterly at annual rates based upon the year of issuance. Each share of ESOP Preferred Stock released from the unallocated reserve of the 401(k) Plan is converted into shares of our common stock based on the stated
 
value of the ESOP Preferred Stock and the then current market price of our common stock. The ESOP Preferred Stock is also convertible at the option of the holder at any time, unless previously redeemed. We have the option to redeem the ESOP Preferred Stock at any time, in whole or in part, at a redemption price per share equal to the higher of (a) $1,000 per share plus accrued and unpaid dividends or (b) the fair market value, as defined in the Certificates of Designation for the ESOP Preferred Stock.
Table 17.3: ESOP Preferred Stock
 
Shares issued and outstanding
 
 
Carrying value
 
 
Adjustable dividend rate
 
(in millions, except shares)
Jun 30,
2019

 
Dec 31,
2018

 
Jun 30,
2019

 
Dec 31,
2018

 
Minimum

 
Maximum

ESOP Preferred Stock
 
 
 
 
 
 
 
 
 
 
 
$1,000 liquidation preference per share
 
 
 
 
 
 
 
 
 
 
 
2018
336,945

 
336,945

 
337

 
337

 
7.00
%
 
8.00
%
2017
222,210

 
222,210

 
222

 
222

 
7.00

 
8.00

2016
227,450

 
233,835

 
228

 
234

 
9.30

 
10.30

2015
116,784

 
144,338

 
117

 
144

 
8.90

 
9.90

2014
136,151

 
174,151

 
136

 
174

 
8.70

 
9.70

2013
97,948

 
133,948

 
98

 
134

 
8.50

 
9.50

2012
49,134

 
77,634

 
49

 
78

 
10.00

 
11.00

2011
26,796

 
61,796

 
27

 
62

 
9.00

 
10.00

2010 (1)
—

 
21,603

 
—

 
22

 
9.50

 
10.50

Total ESOP Preferred Stock (2)
1,213,418

 
1,406,460

 
$
1,214

 
1,407

 
 
 
 
Unearned ESOP shares (3)
 
 
 
 
$
(1,292
)
 
(1,502
)
 
 
 
 
(1)
In April 2019, all of the 2010 ESOP Preferred Stock was converted into common stock.
(2)
At June 30, 2019 and December 31, 2018, additional paid-in capital included $78 million and $95 million, respectively, related to ESOP preferred stock.
(3)
We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released.




151

Note 18: Revenue from Contracts with Customers 

Our revenue includes net interest income on financial instruments and noninterest income. Table 18.1 presents our revenue by operating segment. The “Other” segment for each of the tables below includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for WIM customers served through Community Banking distribution channels. For additional description of our operating segments, including
 
additional financial information and the underlying management accounting process, see Note 22 (Operating Segments).
We adopted ASU 2014-09 – Revenue from Contracts with Customers on a modified retrospective basis as of January 1, 2018. For details on the impact of the adoption of this ASU, see Note 1 (Summary of Significant Accounting Policies) in our 2018 Form 10-K.
Table 18.1: Revenue by Operating Segment
 
Quarter ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Net interest income (1)
$
7,066

7,346

4,535

4,693

1,037

1,111

(543
)
(609
)
12,095

12,541

Noninterest income:
 
 
 
 
 
 
 
 
 
 
Service charges on deposit accounts
704

632

502

530

4

5

(4
)
(4
)
1,206

1,163

Trust and investment fees:
 
 
 
 
 
 
 
 
 
 
Brokerage advisory, commissions and other fees
480

465

74

78

2,248

2,284

(484
)
(473
)
2,318

2,354

Trust and investment management
199

220

117

110

687

731

(208
)
(226
)
795

835

Investment banking
(18
)
—

475

485

(1
)
1

(1
)
—

455

486

Total trust and investment fees
661

685

666

673

2,934

3,016

(693
)
(699
)
3,568

3,675

Card fees
929

904

95

96

2

2

(1
)
(1
)
1,025

1,001

Other fees:
 
 
 
 
 
 
 
 
 
 
Lending related charges and fees (1)(2)
65

69

284

307

2

2

(2
)
(2
)
349

376

Cash network fees
117

118

—

2

—

—

—

—

117

120

Commercial real estate brokerage commissions
—

—

105

109

—

—

—

—

105

109

Wire transfer and other remittance fees
71

67

49

53

2

2

(1
)
(1
)
121

121

All other fees(1)
82

94

26

25

—

1

—

—

108

120

Total other fees
335

348

464

496

4

5

(3
)
(3
)
800

846

Mortgage banking (1)
655

695

104

75

(3
)
(2
)
2

2

758

770

Insurance (1)
11

16

75

78

17

18

(10
)
(10
)
93

102

Net gains (losses) from trading activities (1)
(11
)
24

226

154

13

13

1

—

229

191

Net gains (losses) on debt securities (1)
15

(2
)
5

42

—

1

—

—

20

41

Net gains from equity securities (1)
471

409

116

89

35

(203
)
—

—

622

295

Lease income (1)
—

—

424

443

—

—

—

—

424

443

Other income of the segment (1)
969

749

(147
)
(172
)
7

(15
)
(85
)
(77
)
744

485

Total noninterest income
4,739

4,460

2,530

2,504

3,013

2,840

(793
)
(792
)
9,489

9,012

Revenue
$
11,805

11,806

7,065

7,197

4,050

3,951

(1,336
)
(1,401
)
21,584

21,553

 
Six months ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Net interest income (1)
$
14,314

14,541

9,069

9,225

2,138

2,223

(1,115
)
(1,210
)
24,406

24,779

Noninterest income:
 
 
 
 
 
 
 
 
 
 
Service charges on deposit accounts
1,314

1,271

985

1,064

8

9

(7
)
(8
)
2,300

2,336

Trust and investment fees:
 
 
 
 
 
 
 
 
 
 
Brokerage advisory, commissions and other fees
929

943

152

145

4,372

4,628

(942
)
(959
)
4,511

4,757

Trust and investment management
409

453

231

223

1,363

1,474

(422
)
(465
)
1,581

1,685

Investment banking
(38
)
(10
)
887

925

4

1

(4
)
—

849

916

Total trust and investment fees
1,300

1,386

1,270

1,293

5,739

6,103

(1,368
)
(1,424
)
6,941

7,358

Card fees
1,787

1,725

181

183

3

3

(2
)
(2
)
1,969

1,909

Other fees:
 
 
 
 
 
 
 
 
 
 
Lending related charges and fees (1)(2)
130

145

566

611

4

4

(4
)
(4
)
696

756

Cash network fees
226

243

—

3

—

—

—

—

226

246

Commercial real estate brokerage commissions
—

—

186

194

—

—

—

—

186

194

Wire transfer and other remittance fees
135

130

97

105

4

4

(2
)
(2
)
234

237

All other fees (1)
176

157

52

55

—

1

—

—

228

213

Total other fees
667

675

901

968

8

9

(6
)
(6
)
1,570

1,646

Mortgage banking (1)
1,296

1,537

172

168

(6
)
(5
)
4

4

1,466

1,704

Insurance (1)
22

44

153

157

34

36

(20
)
(21
)
189

216

Net gains (losses) from trading activities (1)
(6
)
23

559

379

32

32

1

—

586

434

Net gains on debt securities (1)
52

(2
)
93

43

—

1

—

—

145

42

Net gains from equity securities (1)
1,072

1,093

193

182

171

(197
)
—

—

1,436

1,078

Lease income (1)
—

—

867

898

—

—

—

—

867

898

Other income of the segment (1)
1,737

1,343

(267
)
(84
)
2

(21
)
(154
)
(151
)
1,318

1,087

Total noninterest income
9,241

9,095

5,107

5,251

5,991

5,970

(1,552
)
(1,608
)
18,787

18,708

Revenue
$
23,555

23,636

14,176

14,476

8,129

8,193

(2,667
)
(2,818
)
43,193

43,487

(1)
Most of our revenue is not within the scope of Accounting Standards Update (ASU) 2014-09 – Revenue from Contracts with Customers, and additional details are included in other footnotes to our financial statements. The scope explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, securities, and derivatives.
(2)
Represents combined amount of previously reported “Charges and fees on loans” and “Letters of credit fees.”

152
Note 18: Revenue from Contracts with Customers (continued)

We provide services to customers which have related performance obligations that we complete to recognize revenue. Our revenues are generally recognized either immediately upon the completion of our service or over time as we perform services. Any services performed over time generally require that we render services each period and therefore we measure our progress in completing these services based upon the passage of time.

SERVICE CHARGES ON DEPOSIT ACCOUNTS are earned on depository accounts for commercial and consumer customers and
 
include fees for account and overdraft services. Account charges include fees for periodic account maintenance activities and event-driven services such as stop payment fees. Our obligation for event-driven services is satisfied at the time of the event when the service is delivered, while our obligation for maintenance services is satisfied over the course of each month. Our obligation for overdraft services is satisfied at the time of the overdraft.
Table 18.2 presents our service charges on deposit accounts by operating segment.

Table 18.2: Service Charges on Deposit Accounts by Operating Segment
 
Quarter ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Overdraft fees
$
496

416

1

1

1

1

—

—

498

418

Account charges
208

216

501

529

3

4

(4
)
(4
)
708

745

Service charges on deposit accounts
$
704

632

502

530

4

5

(4
)
(4
)
1,206

1,163

 
Six months ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Overdraft fees
$
913

828

2

3

1

1

—

—

916

832

Account charges
401

443

983

1,061

7

8

(7
)
(8
)
1,384

1,504

Service charges on deposit accounts
$
1,314

1,271

985

1,064

8

9

(7
)
(8
)
2,300

2,336


BROKERAGE ADVISORY, COMMISSIONS AND OTHER FEES are earned for providing full-service and discount brokerage services predominantly to retail brokerage clients. These revenues include fees earned on asset-based and transactional accounts and other brokerage advisory services.
Asset-based revenues are charged based on the market value of the client’s assets. The services and related obligations associated with certain of these revenues, which include investment advice, active management of client assets, or assistance with selecting and engaging a third-party advisory manager, are generally satisfied over a month or quarter. The remaining revenues include trailing commissions which are earned for selling shares to investors. Our obligation associated with earning trailing commissions is satisfied at the time shares are sold. However, these fees are received and recognized over time during the period the customer owns the shares and we remain the broker of record. The amount of trailing commissions is variable based on the length of time the customer holds the shares and on changes in the value of the underlying assets.
 
Transactional revenues are earned for executing transactions at the client’s direction. Our obligation is generally satisfied upon the execution of the transaction and the fees are based on the size and number of transactions executed.
Other revenues earned from other brokerage advisory services include omnibus and networking fees received from mutual fund companies in return for providing record keeping and other administrative services, and annual account maintenance fees charged to customers.

153

Table 18.3 presents our brokerage advisory, commissions and other fees by operating segment.
Table 18.3: Brokerage Advisory, Commissions and Other Fees by Operating Segment
 
Quarter ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Asset-based revenue (1)
$
369

365

—

—

1,698

1,722

(369
)
(365
)
1,698

1,722

Transactional revenue
94

83

10

16

390

400

(98
)
(92
)
396

407

Other revenue
17

17

64

62

160

162

(17
)
(16
)
224

225

Brokerage advisory, commissions and other fees
$
480

465

74

78

2,248

2,284

(484
)
(473
)
2,318

2,354

 
Six months ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Asset-based revenue (1)
$
712

736

—

—

3,278

3,465

(712
)
(736
)
3,278

3,465

Transactional revenue
183

176

26

28

777

839

(196
)
(192
)
790

851

Other revenue
34

31

126

117

317

324

(34
)
(31
)
443

441

Brokerage advisory, commissions and other fees
$
929

943

152

145

4,372

4,628

(942
)
(959
)
4,511

4,757

(1)
We earned trailing commissions of $289 million and $569 million for the second quarter and first half of 2019, respectively, and $321 million and $652 million for the second quarter and first half of 2018, respectively.
TRUST AND INVESTMENT MANAGEMENT FEES are earned for providing trust, investment management and other related services.
Investment management services include managing and administering assets, including mutual funds, and institutional separate accounts. Fees for these services are generally determined based on a tiered scale relative to the market value of assets under management (AUM). In addition to AUM, we have client assets under administration (AUA) that earn various administrative fees which are generally based on the extent of the services provided to administer the account. Services with AUM
 
and AUA-based fees are generally performed over time.
Trust services include acting as a trustee or agent for corporate trust, personal trust, and agency assets. Obligations for trust services are generally satisfied over time, while obligations for activities that are transactional in nature are satisfied at the time of the transaction.
Other related services include the custody and safekeeping of accounts. Our obligation for these services is generally satisfied over time.
Table 18.4 presents our trust and investment management fees by operating segment.
Table 18.4: Trust and Investment Management Fees by Operating Segment
 
Quarter ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Investment management fees
$
(1
)
—

—

—

501

531

—

—

500

531

Trust fees
200

232

83

82

175

185

(208
)
(226
)
250

273

Other revenue
—

(12
)
34

28

11

15

—

—

45

31

Trust and investment management fees
$
199

220

117

110

687

731

(208
)
(226
)
795

835

 
Six months ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Investment management fees
$
—

—

—

—

978

1,065

—

—

978

1,065

Trust fees
409

453

165

168

343

373

(422
)
(465
)
495

529

Other revenue
—

—

66

55

42

36

—

—

108

91

Trust and investment management fees
$
409

453

231

223

1,363

1,474

(422
)
(465
)
1,581

1,685



154
Note 18: Revenue from Contracts with Customers (continued)

INVESTMENT BANKING FEES are earned for underwriting debt and equity securities, arranging loan syndications and performing other advisory services. Our obligation for these services is generally satisfied at closing of the transaction. Substantially all of these fees are in the Wholesale Banking operating segment.

 
CARD FEES include credit and debit card interchange and network revenues and various card-related fees. Credit and debit card interchange and network revenues are earned on credit and debit card transactions conducted through payment networks such as Visa, MasterCard, and American Express. Our obligation is satisfied concurrently with the delivery of services on a daily basis.
Table 18.5 presents our card fees by operating segment.

Table 18.5: Card Fees by Operating Segment
 
Quarter ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Credit card interchange and network revenues (1)
$
209

211

95

96

2

2

(1
)
(1
)
305

308

Debit card interchange and network revenues
546

525

—

—

—

—

—

—

546

525

Late fees, cash advance fees, balance transfer fees, and annual fees
174

168

—

—

—

—

—

—

174

168

Card fees (1)
$
929

904

95

96

2

2

(1
)
(1
)
1,025

1,001

 
Six months ended June 30,
 
 
Community Banking
 
Wholesale Banking
 
Wealth and Investment Management
 
Other
 
Consolidated
Company
 
(in millions)
2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

Credit card interchange and network revenues (1)
$
398

382

181

183

3

3

(2
)
(2
)
580

566

Debit card interchange and network revenues
1,053

1,004

—

—

—

—

—

—

1,053

1,004

Late fees, cash advance fees, balance transfer fees, and annual fees
336

339

—

—

—

—

—

—

336

339

Card fees (1)
$
1,787

1,725

181

183

3

3

(2
)
(2
)
1,969

1,909

(1)
The cost of credit card rewards and rebates of $375 million and $729 million for the second quarter and first half of 2019, respectively, and $335 million and $678 million for the second quarter and first half of 2018, respectively, are presented net against the related revenues.
CASH NETWORK FEES are earned for processing ATM transactions. Our obligation is completed daily upon settlement of ATM transactions. All of these fees are in the Community Banking operating segment.

COMMERCIAL REAL ESTATE BROKERAGE COMMISSIONS are earned for assisting customers in the sale of real estate property. Our obligation is satisfied upon the successful brokering of a transaction. Fees are based on a fixed percentage of the sales price. All of these fees are in the Wholesale Banking operating segment.
 
WIRE TRANSFER AND OTHER REMITTANCE FEES consist of fees earned for funds transfer services and issuing cashier’s checks and money orders. Our obligation is satisfied at the time of the funds transfer services or upon issuance of the cashier’s check or money order. Substantially all of these fees are in the Community Banking and Wholesale Banking operating segments.

ALL OTHER FEES include various types of fees earned on services to customers which have related performance obligations that we complete to recognize revenue. A majority portion of the revenue is earned from providing business payroll services and merchant services, which are generally recognized over time as we perform the services. Most of these fees are in the Community Banking operating segment.


155


Note 19: Employee Benefits
We sponsor a frozen noncontributory qualified defined benefit retirement plan, the Wells Fargo & Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo. The Cash Balance Plan was frozen on July 1, 2009, and no new benefits accrue after that date. For additional information on our pension and postretirement plans, including
 
plan assumptions, investment strategy and asset allocation, projected benefit payments, and valuation methodologies used for assets measured at fair value, see Note 22 (Employee Benefits and Other Expenses) in our 2018 Form 10-K.
Table 19.1 presents the components of net periodic benefit cost.
Table 19.1: Net Periodic Benefit Cost
 
2019
 
 
2018
 
 
Pension benefits
 
 
 
 
Pension benefits
 
 
 
(in millions)
Qualified

 
Non-qualified

 
Other
benefits

 
Qualified

 
Non-qualified

 
Other
benefits

Quarter ended June 30,
  
 
 
  
 
Service cost
$
3

 
—

 
—

 
2

 
—

 
—

Interest cost (1)
104

 
5

 
6

 
98

 
6

 
5

Expected return on plan assets (1)
(142
)
 
—

 
(7
)
 
(161
)
 
—

 
(8
)
Amortization of net actuarial loss (gain) (1)
37

 
3

 
(4
)
 
33

 
3

 
(5
)
Amortization of prior service credit (1)
—

 
—

 
(3
)
 
—

 
—

 
(2
)
Settlement loss (1)
—

 
—

 
—

 
—

 
—

 
—

Net periodic benefit cost (income)
$
2

 
8

 
(8
)
 
(28
)
 
9

 
(10
)
Six months ended June 30,
 
 
 
Service cost
$
6

 
—

 
—

 
3

 
—

 
—

Interest cost (1)
209

 
11

 
11

 
196

 
11

 
10

Expected return on plan assets (1)
(284
)
 
—

 
(14
)
 
(321
)
 
—

 
(15
)
Amortization of net actuarial loss (gain) (1)
74

 
5

 
(8
)
 
66

 
6

 
(9
)
Amortization of prior service credit (1)
—

 
—

 
(5
)
 
—

 
—

 
(5
)
Settlement loss (1)
—

 
2

 
—

 
—

 
3

 
—

Net periodic benefit cost (income)
$
5

 
18

 
(16
)
 
(56
)
 
20

 
(19
)

(1)
Balances are reported in other noninterest expense on the consolidated statement of income.

156


Note 20:  Earnings and Dividends Per Common Share
Table 20.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations.
Table 20.1: Earnings Per Common Share Calculations
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions, except per share amounts)
2019

 
2018

 
2019

 
2018

Wells Fargo net income
$
6,206

 
5,186

 
$
12,066

 
10,322

Less: Preferred stock dividends and other
358

 
394

 
711

 
797

Wells Fargo net income applicable to common stock (numerator)
$
5,848

 
4,792

 
$
11,355

 
9,525

Earnings per common share
 
 
 
 
 
 
 
Average common shares outstanding (denominator)
4,469.4

 
4,865.8

 
4,510.2

 
4,875.7

Per share
$
1.31

 
0.98

 
$
2.52

 
1.95

Diluted earnings per common share
 
 
 
 
 
 
 
Average common shares outstanding
4,469.4

 
4,865.8

 
4,510.2

 
4,875.7

Add: Stock options (1)
0.1

 
8.2

 
1.4

 
9.0

Restricted share rights (1)
25.5

 
20.7

 
28.5

 
25.4

Warrants (1)
—

 
5.1

 
—

 
6.0

Diluted average common shares outstanding (denominator)
4,495.0

 
4,899.8

 
4,540.1

 
4,916.1

Per share
$
1.30

 
0.98

 
$
2.50

 
1.94


(1)
Calculated using the treasury stock method.
Table 20.2 presents the outstanding Series L convertible preferred stock and options to purchase shares of common stock that were anti-dilutive and therefore not included in the calculation of diluted earnings per common share.
 

 
Table 20.2: Outstanding Anti-Dilutive Securities
 
Weighted-average shares
 
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2019

 
2018

 
2019

 
2018

Series L Convertible Preferred Stock (1)
25.3

 
25.3

 
25.3

 
25.3

Stock options (2)
—

 
—

 
—

 
0.5

(1)
Calculated using the if-converted method.
(2)
Calculated using the treasury stock method.

Table 20.3 presents dividends declared per common share.
Table 20.3: Dividends Declared Per Common Share
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
 
2019

 
2018

 
2019

 
2018

Per common share
$
0.450

 
0.390

 
0.900

 
0.780



157

Note 21: Other Comprehensive Income
Table 21.1 provides the components of OCI, reclassifications to net income by income statement line item, and the related tax effects.
 


Table 21.1: Summary of Other Comprehensive Income
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
 
2019
 
 
2018
 
 
2019
 
 
2018
 
(in millions)
Before
tax

 
Tax
effect

 
Net of
tax

 
Before
tax

 
Tax
effect

 
Net of
tax

 
Before
tax

 
Tax
effect

 
Net of
tax

 
Before
tax

 
Tax
effect

 
Net of
tax

Debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
$
1,709

 
(422
)
 
1,287

 
(617
)
 
152

 
(465
)
 
4,540

 
(1,117
)
 
3,423

 
(4,060
)
 
1,000

 
(3,060
)
Reclassification of net (gains) losses to net income:
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
Interest income on debt securities (1)
61

 
(15
)
 
46

 
90

 
(22
)
 
68

 
106

 
(26
)
 
80

 
159

 
(39
)
 
120

Net gains on debt securities
(20
)
 
5

 
(15
)
 
(41
)
 
10

 
(31
)
 
(145
)
 
36

 
(109
)
 
(42
)
 
10

 
(32
)
Other noninterest income
(2
)
 
1

 
(1
)
 
—

 
—

 
—

 
(3
)
 
1

 
(2
)
 
—

 
—

 
—

Subtotal reclassifications to net income
39


(9
)

30

 
49

 
(12
)
 
37

 
(42
)
 
11

 
(31
)
 
117

 
(29
)
 
88

Net change
1,748


(431
)

1,317

 
(568
)
 
140

 
(428
)
 
4,498

 
(1,106
)
 
3,392

 
(3,943
)
 
971

 
(2,972
)
Derivative and hedging activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in fair value of excluded components on fair value hedges (2)
56

 
(14
)
 
42

 
(150
)
 
37

 
(113
)
 
30

 
(7
)
 
23

 
(126
)
 
31

 
(95
)
Cash Flow Hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period on cash flow hedges
1

 
—

 
1

 
—

 
—

 
—

 
(8
)
 
2

 
(6
)
 
(266
)
 
66

 
(200
)
Reclassification of net losses to net income on cash flow hedges:
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
Interest income on loans
77

 
(19
)
 
58

 
77

 
(19
)
 
58

 
155

 
(38
)
 
117

 
137

 
(34
)
 
103

Interest expense on long-term debt
2

 
(1
)
 
1

 
—

 
—

 
—

 
3

 
(1
)
 
2

 
—

 
—

 
—

Subtotal reclassifications to net income
79


(20
)

59


77


(19
)

58


158


(39
)

119


137


(34
)

103

Net change
136


(34
)

102

 
(73
)
 
18

 
(55
)
 
180


(44
)

136

 
(255
)

63


(192
)
Defined benefit plans adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net actuarial and prior service gains (losses) arising during the period
—

 
—

 
—

 
—

 
—

 
—

 
(4
)
 
1

 
(3
)
 
6

 
(2
)
 
4

Reclassification of amounts to non interest expense (3):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of net actuarial loss
36

 
(9
)
 
27

 
31

 
(7
)
 
24

 
71

 
(17
)
 
54

 
63

 
(15
)
 
48

Settlements and other
(3
)
 
2

 
(1
)
 
(2
)
 
—

 
(2
)
 
(3
)
 
2

 
(1
)
 
(2
)
 
1

 
(1
)
Subtotal reclassifications to non interest expense
33


(7
)

26

 
29

 
(7
)
 
22

 
68

 
(15
)
 
53

 
61

 
(14
)
 
47

Net change
33


(7
)

26

 
29

 
(7
)
 
22

 
64

 
(14
)
 
50

 
67

 
(16
)
 
51

Foreign currency translation adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
14

 
(1
)
 
13

 
(83
)
 
3

 
(80
)
 
56

 
(3
)
 
53

 
(85
)
 
(2
)
 
(87
)
Net change
14


(1
)

13

 
(83
)
 
3

 
(80
)
 
56

 
(3
)
 
53

 
(85
)
 
(2
)
 
(87
)
Other comprehensive income (loss)
$
1,931


(473
)

1,458

 
(695
)

154


(541
)
 
4,798

 
(1,167
)
 
3,631

 
(4,216
)
 
1,016

 
(3,200
)
Less: Other comprehensive loss from noncontrolling interests, net of tax
 
 
 
 
—

 
 
 
 
 
(1
)
 
 
 
 
 
—

 
 
 
 
 
(1
)
Wells Fargo other comprehensive income (loss), net of tax
 
 
 
 
$
1,458

 
 
 
 
 
(540
)
 
 
 
 
 
3,631

 
 
 
 
 
(3,199
)
(1)
Represents net unrealized gains and losses amortized over the remaining lives of securities that were transferred from the available-for-sale portfolio to the held-to-maturity portfolio.
(2)
Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of effectiveness recorded in other comprehensive income.
(3)
These items are included in the computation of net periodic benefit cost (see Note 19 (Employee Benefits) for more information).



158
Note 21: Other Comprehensive Income (continued)


Table 21.2: Cumulative OCI Balances
(in millions)
Debt
securities

 
Derivative
and
hedging
activities

 
Defined
benefit
plans
adjustments

 
Foreign
currency
translation
adjustments

 
Cumulative
other
compre-
hensive
income

Quarter ended June 30, 2019
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
(566
)
 
(651
)
 
(2,272
)
 
(193
)
 
(3,682
)
Net unrealized gains arising during the period
1,287

 
43

 
—

 
13

 
1,343

Amounts reclassified from accumulated other comprehensive income
30

 
59

 
26

 
—

 
115

Net change
1,317

 
102

 
26

 
13

 
1,458

Less: Other comprehensive income from noncontrolling interests
—

 
—

 
—

 
—

 
—

Balance, end of period
$
751

 
(549
)
 
(2,246
)
 
(180
)
 
(2,224
)
Quarter ended June 30, 2018
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
(2,491
)
 
(555
)
 
(1,779
)
 
(96
)
 
(4,921
)
Net unrealized losses arising during the period
(465
)
 
(113
)
 
—

 
(80
)
 
(658
)
Amounts reclassified from accumulated other comprehensive income
37

 
58

 
22

 
—

 
117

Net change
(428
)
 
(55
)
 
22

 
(80
)
 
(541
)
Less: Other comprehensive loss from noncontrolling interests
—

 
—

 
—

 
(1
)
 
(1
)
Balance, end of period
$
(2,919
)
 
(610
)
 
(1,757
)
 
(175
)
 
(5,461
)
Six months ended June 30, 2019
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
(3,122
)
 
(685
)
 
(2,296
)
 
(233
)
 
(6,336
)
Transition adjustment (1)
481

 
—

 
—

 
—

 
481

Balance, January 1, 2019
(2,641
)
 
(685
)
 
(2,296
)
 
(233
)
 
(5,855
)
Net unrealized gains (losses) arising during the period
3,423

 
17

 
(3
)
 
53

 
3,490

Amounts reclassified from accumulated other comprehensive income
(31
)
 
119

 
53

 
—

 
141

Net change
3,392

 
136

 
50

 
53

 
3,631

Less: Other comprehensive income from noncontrolling interests
—

 
—

 
—

 
—

 
—

Balance, end of period
$
751

 
(549
)
 
(2,246
)
 
(180
)
 
(2,224
)
Six months ended June 30, 2018
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
171

 
(418
)
 
(1,808
)
 
(89
)
 
(2,144
)
Transition adjustment (2)
(118
)
 
—

 
—

 
—

 
(118
)
Balance, January 1, 2018
53

 
(418
)
 
(1,808
)
 
(89
)
 
(2,262
)
Net unrealized gains (losses) arising during the period
(3,060
)
 
(295
)
 
4

 
(87
)
 
(3,438
)
Amounts reclassified from accumulated other comprehensive income
88

 
103

 
47

 
—

 
238

Net change
(2,972
)
 
(192
)
 
51

 
(87
)
 
(3,200
)
Less: Other comprehensive loss from noncontrolling interests
—

 
—

 
—

 
(1
)
 
(1
)
Balance, end of period
$
(2,919
)
 
(610
)
 
(1,757
)
 
(175
)
 
(5,461
)

(1)
The transition adjustment relates to the adoption of ASU 2017-08 – Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. See Note 1 (Summary of Significant Accounting Policies) for more information.
(2)
The transition adjustment relates to the adoption of ASU 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. See Note 1 (Summary of Significant Accounting Policies) for more information.

159


Note 22: Operating Segments
We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management (WIM). We define our operating segments by product type and customer segment and their results are based on our management accounting process, for which there is no comprehensive, authoritative guidance equivalent to GAAP for financial accounting. The management accounting process measures the performance of the operating segments based on
 
our management structure and is not necessarily comparable with similar information for other financial services companies. If the management structure and/or the allocation process changes, allocations, transfers and assignments may change. For a description of our operating segments see Note 26 (Operating Segments) in our 2018 Form 10-K. Table 22.1 presents our results by operating segment.
Table 22.1: Operating Segments
 
Community
Banking 
 
 
Wholesale
Banking
 
 
Wealth and Investment Management
 
 
Other (1)
 
 
Consolidated
Company
 
(income/expense in millions, average balances in billions)
2019

 
2018

 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

Quarter ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income (2)
$
7,066

 
7,346

 
4,535

 
4,693

 
1,037

 
1,111

 
(543
)
 
(609
)
 
12,095

 
12,541

Provision (reversal of provision) for credit losses
479

 
484

 
28

 
(36
)
 
(1
)
 
(2
)
 
(3
)
 
6

 
503

 
452

Noninterest income
4,739

 
4,460

 
2,530

 
2,504

 
3,013

 
2,840

 
(793
)
 
(792
)
 
9,489

 
9,012

Noninterest expense
7,212

 
7,290

 
3,882

 
4,219

 
3,246

 
3,361

 
(891
)
 
(888
)
 
13,449

 
13,982

Income (loss) before income tax expense (benefit)
4,114

 
4,032

 
3,155

 
3,014

 
805

 
592

 
(442
)
 
(519
)
 
7,632

 
7,119

Income tax expense (benefit)
838

 
1,413

 
365

 
379

 
201

 
147

 
(110
)
 
(129
)
 
1,294

 
1,810

Net income (loss) before noncontrolling interests
3,276

 
2,619

 
2,790

 
2,635

 
604

 
445

 
(332
)
 
(390
)
 
6,338

 
5,309

Less: Net income from noncontrolling interests
129

 
123

 
1

 
—

 
2

 
—

 
—

 
—

 
132

 
123

Net income (loss) (3)
$
3,147

 
2,496

 
2,789

 
2,635

 
602

 
445

 
(332
)
 
(390
)
 
6,206

 
5,186

Average loans
$
457.7

 
463.8

 
474.0

 
464.7

 
75.0

 
74.7

 
(59.2
)
 
(59.1
)
 
947.5

 
944.1

Average assets
1,024.8

 
1,034.3

 
852.2

 
826.4

 
83.8

 
84.0

 
(60.2
)
 
(59.8
)
 
1,900.6

 
1,884.9

Average deposits
777.6

 
760.6

 
410.4

 
414.0

 
143.5

 
167.1

 
(62.5
)
 
(70.4
)
 
1,269.0

 
1,271.3

Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income (2)
$
14,314

 
14,541

 
9,069

 
9,225

 
2,138

 
2,223

 
(1,115
)
 
(1,210
)
 
24,406

 
24,779

Provision (reversal of provision) for credit losses
1,189

 
702

 
162

 
(56
)
 
3

 
(8
)
 
(6
)
 
5

 
1,348

 
643

Noninterest income
9,241

 
9,095

 
5,107

 
5,251

 
5,991

 
5,970

 
(1,552
)
 
(1,608
)
 
18,787

 
18,708

Noninterest expense
14,901

 
15,992

 
7,720

 
8,197

 
6,549

 
6,651

 
(1,805
)
 
(1,816
)
 
27,365

 
29,024

Income (loss) before income tax expense (benefit)
7,465

 
6,942

 
6,294

 
6,335

 
1,577

 
1,550

 
(856
)
 
(1,007
)
 
14,480

 
13,820

Income tax expense (benefit)
1,262

 
2,222

 
734

 
827

 
393

 
386

 
(214
)
 
(251
)
 
2,175

 
3,184

Net income (loss) before noncontrolling interests
6,203

 
4,720

 
5,560

 
5,508

 
1,184

 
1,164

 
(642
)
 
(756
)
 
12,305

 
10,636

Less: Net income (loss) from noncontrolling interests
233

 
311

 
1

 
(2
)
 
5

 
5

 
—

 
—

 
239

 
314

Net income (loss) (3)
$
5,970

 
4,409

 
5,559

 
5,510

 
1,179

 
1,159

 
(642
)
 
(756
)
 
12,066

 
10,322

Average loans
$
457.9

 
467.1

 
475.2

 
464.9

 
74.7

 
74.3

 
(59.1
)
 
(58.8
)
 
948.7

 
947.5

Average assets
1,020.1

 
1,048.0

 
848.4

 
827.8

 
83.5

 
84.1

 
(60.1
)
 
(59.6
)
 
1,891.9

 
1,900.3

Average deposits
771.6

 
754.1

 
410.1

 
429.9

 
148.3

 
172.5

 
(64.5
)
 
(72.3
)
 
1,265.5

 
1,284.2

(1)
Includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for Wealth and Investment Management customers served through Community Banking distribution channels. 
(2)
Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets as well as interest credits for any funding of a segment available to be provided to other segments. The cost of liabilities includes actual interest expense on segment liabilities as well as funding charges for any funding provided from other segments.
(3)
Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth and Investment Management segments and Wells Fargo net income for the consolidated company.


160


Note 23: Regulatory and Agency Capital Requirements
The Company and each of its subsidiary banks are subject to regulatory capital adequacy requirements promulgated by federal bank regulatory agencies. The Federal Reserve establishes capital requirements for the consolidated financial holding company, and the OCC has similar requirements for the Company’s national banks, including Wells Fargo Bank, N.A. (the Bank).
Table 23.1 presents regulatory capital information for Wells Fargo & Company and the Bank using Basel III, which increased minimum required capital ratios, and introduced a minimum Common Equity Tier 1 (CET1) ratio. We must report the lower of our CET1, tier 1 and total capital ratios calculated under the Standardized Approach and under the Advanced Approach in the assessment of our capital adequacy. The Standardized Approach applies assigned risk weights to broad risk categories, while the calculation of risk-weighted assets (RWAs) under the Advanced Approach differs by requiring applicable banks to utilize a risk-sensitive methodology, which relies upon the use of internal credit models, and includes an operational risk component. The
 
Basel III capital rules are being phased-in effective January 1, 2014, through the end of 2021. Beginning January 1, 2018, the requirements for calculating CET1 and tier 1 capital, along with RWAs, became fully phased-in. Accordingly, the information presented reflects fully phased-in CET1 capital, tier 1 capital, and RWAs, but reflects total capital still in accordance with Transition Requirements.
The Bank is an approved seller/servicer of mortgage loans and is required to maintain minimum levels of shareholders’ equity, as specified by various agencies, including the United States Department of Housing and Urban Development, GNMA, FHLMC and FNMA. At June 30, 2019, the Bank met these requirements. Other subsidiaries, including the Company’s insurance and broker-dealer subsidiaries, are also subject to various minimum capital levels, as defined by applicable industry regulations. The minimum capital levels for these subsidiaries, and related restrictions, are not significant to our consolidated operations.
Table 23.1: Regulatory Capital Information
 
Wells Fargo & Company
 
Wells Fargo Bank, N.A.
 
June 30, 2019
 
 
 
December 31, 2018
 
 
 
June 30, 2019
 
 
 
December 31, 2018
(in millions, except ratios)
Advanced Approach

 
Standardized
Approach

 
 
Advanced Approach

 
Standardized
Approach

 
 
Advanced Approach

 
Standardized
Approach

 
 
Advanced Approach

 
Standardized
Approach

 
Regulatory capital:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common equity tier 1
$
149,183

 
149,183

 
 
146,363

 
146,363

 
 
146,505

 
146,505

 
 
142,685

 
142,685

 
Tier 1
170,675

 
170,675

 
 
167,866

 
167,866

 
 
146,505

 
146,505

 
 
142,685

 
142,685

 
Total
200,810

 
208,817

 
 
198,798

 
207,041

 
 
159,090

 
166,648

 
 
155,558

 
163,380

 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Risk-weighted assets
$
1,182,838

 
1,246,683

 
 
1,177,350

 
1,247,210

 
 
1,059,642

 
1,144,959

 
 
1,058,653

 
1,154,182

 
Adjusted average assets (1)
1,871,806

 
1,871,806

 
 
1,850,299

 
1,850,299

 
 
1,654,994

 
1,654,994

 
 
1,652,009

 
1,652,009

 
Regulatory capital ratios:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common equity tier 1 capital
12.61
%
 
11.97

*
 
12.43

 
11.74

*
 
13.83

 
12.80

*
 
13.48

 
12.36

*
Tier 1 capital
14.43

 
13.69

*
 
14.26

 
13.46

*
 
13.83

 
12.80

*
 
13.48

 
12.36

*
Total capital
16.98

 
16.75

*
 
16.89

 
16.60

*
 
15.01

 
14.56

*
 
14.69

 
14.16

*
Tier 1 leverage (1)
9.12

 
9.12

 
 
9.07

 
9.07

 
 
8.85

 
8.85

 
 
8.64

 
8.64

 
 
Wells Fargo & Company
 
 
 
Wells Fargo Bank, N.A.
 
 
 
June 30, 2019
 
 
 
December 31, 2018
 
 
 
June 30, 2019
 
 
 
December 31, 2018
 
 
Supplementary leverage: (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total leverage exposure
$
2,202,607
 
 
 
2,174,564
 
 
 
1,964,107
 
 
 
1,957,276
 
 
Supplementary leverage ratio
7.75
%
 
 
7.72
 
 
 
7.46
 
 
 
7.29
 
 
*Denotes the lowest capital ratio as determined under the Advanced and Standardized Approaches.
(1)
The leverage ratio consists of Tier 1 capital divided by total average assets, excluding goodwill and certain other items.
(2)
The supplementary leverage ratio consists of Tier 1 capital divided by total leverage exposure. Total leverage exposure consists of total average assets, less goodwill and other permitted Tier 1 capital deductions (net of deferred tax liabilities), plus certain off-balance sheet exposures.
Table 23.2 presents the minimum required regulatory capital ratios under Transition Requirements to which the Company and the Bank were subject as of June 30, 2019, and December 31, 2018.
 

Table 23.2: Minimum Required Regulatory Capital Ratios – Transition Requirements (1)
 
Wells Fargo & Company
 
Wells Fargo Bank, N.A.
 
June 30, 2019

 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
Regulatory capital ratios:
 
 
 
 
 
 
 
Common equity tier 1 capital
9.000
%
 
7.875
 
7.000
 
6.375
Tier 1 capital
10.500

 
9.375
 
8.500
 
7.875
Total capital
12.500

 
11.375
 
10.500
 
9.875
Tier 1 leverage
4.000

 
4.000
 
4.000
 
4.000
Supplementary leverage
5.000

 
5.000
 
6.000
 
6.000
(1)
At June 30, 2019, under transition requirements, the CET1, tier 1 and total capital minimum ratio requirements for Wells Fargo & Company include a capital conservation buffer of 2.500% and a global systemically important bank (G-SIB) surcharge of 2.000%. Only the 2.500% capital conservation buffer applies to the Bank at June 30, 2019.

161


Glossary of Acronyms
 
 
 
 
ACL
Allowance for credit losses
HQLA
High-quality liquid assets
ALCO
Asset/Liability Management Committee
HTM
Held to maturity
ARM 
Adjustable-rate mortgage
LCR
Liquidity coverage ratio
ASC
Accounting Standards Codification
LHFS
Loans held for sale
ASU
Accounting Standards Update
LIBOR
London Interbank Offered Rate
AUA
Assets under administration
LIHTC
Low income housing tax credit
AUM
Assets under management
LOCOM
Lower of cost or fair value
AVM
Automated valuation model
LTV
Loan-to-value
BCBS
Basel Committee on Bank Supervision
MBS
Mortgage-backed security
BHC
Bank holding company
MLHFS
Mortgage loans held for sale
CCAR
Comprehensive Capital Analysis and Review
MSR
Mortgage servicing right
CD
Certificate of deposit
NAV
Net asset value
CDO
Collateralized debt obligation
NPA
Nonperforming asset
CDS
Credit default swaps
OCC
Office of the Comptroller of the Currency
CECL
Current expected credit loss
OCI
Other comprehensive income
CET1
Common Equity Tier 1
OTC
Over-the-counter
CFPB
Consumer Financial Protection Bureau
OTTI
Other-than-temporary impairment
CLO
Collateralized loan obligation
PCI Loans
Purchased credit-impaired loans
CLTV
Combined loan-to-value
PTPP
Pre-tax pre-provision profit
CPI
Collateral protection insurance
RBC
Risk-based capital
CPP
Capital Purchase Program
RMBS
Residential mortgage-backed securities
CRE
Commercial real estate
ROA
Wells Fargo net income to average total assets
DPD
Days past due
ROE
Wells Fargo net income applicable to common stock
ESOP
Employee Stock Ownership Plan
 
to average Wells Fargo common stockholders’ equity
FAS
Statement of Financial Accounting Standards
ROTCE
Return on average tangible common equity
FASB
Financial Accounting Standards Board
RWAs
Risk-weighted assets
FDIC
Federal Deposit Insurance Corporation
SEC
Securities and Exchange Commission
FHA
Federal Housing Administration
S&P
Standard & Poor’s Global Ratings
FHLB
Federal Home Loan Bank
SLR
Supplementary leverage ratio
FHLMC
Federal Home Loan Mortgage Corporation
SOFR
Secured Overnight Financing Rate
FICO
Fair Isaac Corporation (credit rating)
SPE
Special purpose entity
FNMA
Federal National Mortgage Association
TDR
Troubled debt restructuring
FRB
Board of Governors of the Federal Reserve System
TLAC
Total Loss Absorbing Capacity
GAAP
Generally accepted accounting principles
VA
Department of Veterans Affairs
GNMA
Government National Mortgage Association
VaR
Value-at-Risk
GSE
Government-sponsored entity
VIE
Variable interest entity
G-SIB
Globally systemic important bank
WIM
Wealth and Investment Management

162


PART II – OTHER INFORMATION

Item 1.            Legal Proceedings
 
Information in response to this item can be found in Note 14 (Legal Actions) to Financial Statements in this Report which information is incorporated by reference into this item.

Item 1A.         Risk Factors
 
Information in response to this item can be found under the “Financial Review – Risk Factors” section in this Report which information is incorporated by reference into this item. 

Item 2.           Unregistered Sales of Equity Securities and Use of Proceeds
 
The following table shows Company repurchases of its common stock for each calendar month in the quarter ended June 30, 2019.
Calendar month
Total number
of shares
repurchased (1)

 
Weighted-average
price paid per share

 
Maximum number of
shares that may yet
be repurchased under
the authorization

April
28,673,471

 
$
47.86

 
269,297,234

May
41,151,107

 
46.79

 
228,146,127

June
35,028,166

 
45.68

 
193,117,961

Total
104,852,744

 
 
 
 
 
 
 
 
 
 
(1)
All shares were repurchased under an authorization covering up to 350 million shares of common stock approved by the Board of Directors and publicly announced by the Company on October 23, 2018. In addition, the Company publicly announced on July 23, 2019, that the Board of Directors authorized the repurchase of an additional 350 million shares of common stock. Unless modified or revoked by the Board, these authorizations do not expire.


163


Item 6.
Exhibits
 
A list of exhibits to this Form 10-Q is set forth below.
 
The Company’s SEC file number is 001-2979. On and before November 2, 1998, the Company filed documents with the SEC under the name Norwest Corporation. The former Wells Fargo & Company filed documents under SEC file number 001-6214.

Exhibit
Number
 
Description 
 
Location 
3(a)
 
Restated Certificate of Incorporation, as amended and in effect on the date hereof.
 
Incorporated by reference to Exhibit 3(a) to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2019.
3(b)
 
By-Laws.
 
Incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed March 1, 2018.
4(a)
 
See Exhibits 3(a) and 3(b).
 
 
4(b)
 
The Company agrees to furnish upon request to the Commission a copy of each instrument defining the rights of holders of senior and subordinated debt of the Company.
 
 
10(a)
 
Long-Term Incentive Compensation Plan (as amended and restated on April 23, 2019)
 
Incorporated by reference to Exhibit 10(b) to the Company’s Current Report on Form 8-K filed April 26, 2019.
 
 
 Form of Restricted Share Rights Award Agreement:
 
 
 
 
 For grants on or after April 7, 2019.
 
Filed herewith.
31(a)
 
Certification of principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
 
Filed herewith.
31(b)
 
Certification of principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
 
Filed herewith.
32(a)
 
Certification of Periodic Financial Report by Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and 18 U.S.C. § 1350.
 
Furnished herewith.
32(b)
 
Certification of Periodic Financial Report by Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and 18 U.S.C. § 1350.
 
Furnished herewith.
101.INS
 
Inline XBRL Instance Document
 
The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.
101.SCH
 
Inline XBRL Taxonomy Extension Schema Document
 
Filed herewith.
101.CAL
 
Inline XBRL Taxonomy Extension Calculation Linkbase Document
 
Filed herewith.
101.DEF
 
Inline XBRL Taxonomy Extension Definitions Linkbase Document
 
Filed herewith.
101.LAB
 
Inline XBRL Taxonomy Extension Label Linkbase Document
 
Filed herewith.
101.PRE
 
Inline XBRL Taxonomy Extension Presentation Linkbase Document
 
Filed herewith.

164


SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Dated: August 2, 2019                                                             WELLS FARGO & COMPANY
 
 
By:       /s/ RICHARD D. LEVY                                 
Richard D. Levy
Executive Vice President and Controller
(Principal Accounting Officer)

165

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

DISCLAIMER

CompaniesMarketCap is not associated in any way with CoinMarketCap.com
Stock prices are delayed, the delay can range from a few minutes to several hours.
Company logos are from the CompaniesLogo.com logo database and belong to their respective copyright holders. Companies Marketcap displays them for editorial purposes only.

Contact

For inquiries or if you want to report a problem write to hello@8marketcap.com

Links

- Privacy policy

- Terms and conditions

© 2025 CompaniesMarketcap.com