Simplicity a boost for Wells Fargo

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

Notably missing from the list of major banks whose "living wills" were stingingly rebuked by the FDIC and the Fed earlier this week is Wells Fargo (WFC +0.4%), writes the WSJ's David Reilly.

"Size alone doesn't make a firm a [systemic] threat," says Reilly, noting Wells' $1.6T in assets is nearly double that of Goldman Sachs and Morgan Stanley. Wells, however, was not included int he so-called first-wave banks initially having to submit resolution plans because its non-bank assets aren't greater than $250B.

"In banking today," writes Reilly, "simplicity is a virtue, no matter your size."

Previously: Feds reject "living wills" of 11 major lenders