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BRIEF-Wells Fargo enters support agreement with WFC Holdings
2017年6月28日 / 晚上9点21分 / 5 个月前

BRIEF-Wells Fargo enters support agreement with WFC Holdings

June 28 (Reuters) - Wells Fargo & Co:

* Wells Fargo & Co-on June 28, 2017, in connection with resolution plan, or so-called “living-will”, co entered support agreement with WFC Holdings, among others‍​ ‍​

* Wells Fargo - transferring assets, including majority of its cash, deposits, liquid securities and intercompany loans to Wfc Holdings, Llc

* Wells Fargo - in event of co’s material financial distress or failure, WFC Holdings to be obligated to use transferred assets to provide capital to co

* Wells Fargo & Co says WFC Holdings will also provide funding and liquidity to co through subordinated notes and a committed line of credit - SEC filing

* Wells Fargo - if some liquidity, capital metrics fall below defined triggers, subordinated notes would be forgiven, committed line of credit would terminate

* Wells Fargo & Co - co's and WFC Holdings' respective obligations under support agreement are secured pursuant to a related security agreement ​ Source text: ( Further company coverage:

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