Goldman, Wells Fargo grew hard-to-value assets in 2018
In contrast, the other six US G-Sibs slashed $4.4 billion of Level 3 assets on aggregate
Two of the eight US global systemically important banks – Goldman Sachs and Wells Fargo – increased illiquid and hard-to-value assets in 2018.
Goldman Sachs grew these Level 3 assets by $2.9 billion (14%) to $23 billion, and Wells Fargo by $444 million (2%) to $25.3 billion last year. In contrast, the other six G-Sibs posted decreases totalling $4.4 billion (4%) year-on-year.
According to its annual report, the year-on-year increase at Wells Fargo was driven by a $1 billion climb in Level 3
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