Wells Fargo adds $2 billion to op risk capital

Risk-weighted asset increases follow wave of regulatory sanctions

Wells Fargo’s operational risk capital jumped 10% in the first half of the year, as the bank continues to atone for a rash of misconduct and misselling scandals that became widely known in late 2016.

The San Francisco-based lender’s op risk-weighted assets (RWAs) leapt to $329 billion at end-June from $300 billion six months earlier. Given the higher figure, the bank had to tack $2 billion onto its minimum capital requirement for op risk, bringing that number to $26 billion. 

The hike follows