Wells Fargo led top US banks on CMBS risk in 2019
Commercial mortgage-backed securitisations are struggling amid Covid-19 crisis
Exposures to securitisations backed by commercial mortgages (CMBS) totalled almost $20 billion at Wells Fargo heading into 2020, the most of top US dealers.
The San Francisco-based lender disclosed exposure-at-default (EAD) linked to these assets of $19.7 billion in regulatory filings for end-2019, $12.5 billion of which was on-balance sheet. These commercial mortgage positions contributed $5.8 billion to the bank’s risk-weighted assets (RWAs).
It also reported CMBS exposures worth $609
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