Goldman, Wells cut operational risk
The two firms reduce op RWAs by combined $15 billion in third quarter
The largest US banks shed $11 billion of operational risk-weighted assets (RWAs) in the third quarter, with Goldman Sachs and Wells Fargo trimming the most.
Total op RWAs across the eight US global systemically important banks (G-Sibs) hit $1.86 trillion at end-September. Wells Fargo reduced its amount by $10 billion (3%) to $319 billion, and Goldman Sachs by $5 billion (5%) to $108 billion from end-June.
Morgan Stanley, State Street and BNY Mellon all made smaller op RWA savings of $849
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