Wells Fargo 2014 Annual Report Download - page 101

Table 58: Medium-Term Note (MTN) Programs
December 31, 2014
(in billions) Date established
Debt
issuance
authority
Available
for
issuance
MTN program:
Series L & M (1) May 2012 $ 25.0 0.9
Series N & O (1)(2) May 2014 — —
Series K (1)(3) April 2010 25.0 21.8
European (4)(5) December 2009 25.0 12.0
European (4)(6) August 2013 10.0 9.2
Australian (4)(7) June 2005 AUD 10.0 4.6
(1) SEC registered.
(2) The Parent can issue an indeterminate amount of debt securities, subject to
the debt issuance authority granted by the Board described above.
(3) As amended in April 2012.
(4) Not registered with the SEC. May not be offered in the United States without
applicable exemptions from registration.
(5) As amended in April 2012, April 2013 and April 2014. For securities to be
admitted to listing on the Official List of the United Kingdom Financial Conduct
Authority and to trade on the Regulated Market of the London Stock Exchange.
(6) As amended in May 2014, for securities that will not be admitted to listing,
trading and/or quotation by any stock exchange or quotation system, or will be
admitted to listing, trading and/or quotation by a stock exchange or quotation
system that is not considered to be a regulated market.
(7) As amended in October 2005, March 2010 and September 2013.
Wells Fargo Bank, N.A. Wells Fargo Bank, N.A. is authorized
by its board of directors to issue $100 billion in outstanding
short-term debt and $125 billion in outstanding long-term debt.
At December 31, 2014, Wells Fargo Bank, N.A. had available
$100 billion in short-term debt issuance authority and
$63.5 billion in long-term debt issuance authority. In March
2012, Wells Fargo Bank, N.A. established a $100 billion bank
note program under which, subject to any other debt
outstanding under the limits described above, it may issue
$50 billion in outstanding short-term senior notes and
$50 billion in outstanding long-term senior or subordinated
notes. During 2014, Wells Fargo Bank, N.A. issued $3.1 billion of
senior notes under the bank note program. At
December 31, 2014, Wells Fargo Bank, N.A. had remaining
issuance capacity under the bank note program of $50 billion in
short-term senior notes and $33.5 billion in long-term senior or
subordinated notes. In addition, during 2014, Wells Fargo Bank,
N.A. executed advances of $15.0 billion with the Federal Home
Loan Bank of Des Moines, and as of December 31, 2014,
Wells Fargo Bank N.A. had outstanding advances of $34.1 billion
across the Federal Home Loan Bank System.
Wells Fargo Canada Corporation In February 2014,
Wells Fargo Canada Corporation (WFCC), an indirect wholly
owned Canadian subsidiary of the Parent, qualified with the
Canadian provincial securities commissions a base shelf
prospectus for the distribution from time to time in Canada of up
to CAD $7.0 billion in medium-term notes. At
December 31, 2014, CAD $7.0 billion still remained available for
future issuance under this prospectus. During 2014, WFCC
issued CAD $1.3 billion in medium-term notes under a prior
base shelf prospectus. All medium-term notes issued by WFCC
are unconditionally guaranteed by the Parent.
FEDERAL HOME LOAN BANK MEMBERSHIP The Federal
Home Loan Banks (the FHLBs) are a group of cooperatives that
lending institutions use to finance housing and economic
development in local communities. We are a member of the
FHLBs based in Dallas, Des Moines and San Francisco. Each
member of the FHLBs is required to maintain a minimum
investment in capital stock of the applicable FHLB. The board of
directors of each FHLB can increase the minimum investment
requirements in the event it has concluded that additional
capital is required to allow it to meet its own regulatory capital
requirements. Any increase in the minimum investment
requirements outside of specified ranges requires the approval of
the Federal Housing Finance Board. Because the extent of any
obligation to increase our investment in any of the FHLBs
depends entirely upon the occurrence of a future event, potential
future payments to the FHLBs are not determinable.
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