That would allow the lender to pull the debt from a massive portfolio sale.

The massive portfolio has sparked worries that, once the Fed starts to raise rates, inflation will shoot up.

Reuters first reported last week that GE was nearing a deal to sell the massive portfolio of loans to Wells.

It also has said it would likely sell its massive portfolio of office buildings within the next year or so, maybe in pieces.

The veteran chairman said he could not currently tell whether there was the need for further writedowns on its massive portfolio of subprime-related investments.