Wells Fargo's CEO on Real Estate Losses

(Reuters) – Wells Fargo Chief Executive Officer Charlie Scharf announced on Thursday that the U.S. lender could face losses between $2 billion to $3 billion related to its commercial real estate office loan portfolio.

> "We've reserved for all of it, so the balance sheet is de-risked, but it's going to play out over three, four years," Scharf stated during an event.