Wells Fargo & Co (NYSE:WFC)’s chief executive warned the Federal Reserve against changing requirements to force banks to hold more long-term debt. According to a Financial Times report, John Stump, the chief executive of Wells Fargo & Co (NYSE:WFC) indicated that the Federal Reserve was wrong in presuming such high debt would prevent a large institution from failing. Walls Fargo’s Chief criticizes Fed: John Stump also criticized the Federal Reserve for sending conflicting signals on the level of debt that the Federal Reserve wants the banks to hold. San Francisco-based Wells Fargo & Co (NYSE:WFC) has a market capitalization of $217…
Wells Fargo Chief Critical Of Fed’s Debt Proposal
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports