Matt O’Connor, Deutsche Bank
On RWA, any numbers you can provide in terms of how much benefit you get from the — I guess just priced on the credit correlation book and some of those contracts and the real estate running off, just those two pieces?
Bruce Thompson, Chief Financial Officer
No I mean, I think as you look forward, I mean, these tend to be I think outside of op-risk this quarter, we had roughly $30 billion of risk weighted asset benefit under the advanced approach roughly half of that was in the consumer book, half of that was in the wholesale books. I think you will continue to see benefits, but I don’t think you’ll see the quarterly benefit of that magnitude on a go forward basis.
Matt O’Connor, Deutsche Bank
Okay. Then just separately, the home equity charge-offs increased a fair amount versus 3Q. Obviously, 3Q is a very low-level. But remind me what’s going on there, I think there was an accounting or methodology change a year ago? Has that fully worked through or is there seasonality or — what’s going on?
Bruce Thompson, Chief Financial Officer
Yes, the biggest thing you have in home equity this quarter is that I believe it was roughly $150 million that went through charge-off that was related to the DOJ settlement, so realize you have of $150 million of charge-offs, $150 million of reserves. So, from a net P&L perspective, it was a push. But you did have that during the quarter and it’s the reason that we wanted to give you the core charge-off number Q3 to Q4 because as we implement the DOJ settlement, you will see both charge-off and reserve release come out in each of probably the first and second quarter then we should be largely through that.
Matt O’Connor, Deutsche Bank
Okay. Thank you.
Operator
And we will take our next question from Steven Chubak with Nomura. Please go ahead.
Steven Chubak, Nomura
Hi, good morning. Bruce, I was hoping you could maybe help explain what prompted the increase in operational risk RWA? The 34% I guess makes you an outlier relative to some of your peers, whereas previously you were more in line. I know the process typically is you submit the models to the regulators and or the Fed and then they give you feedback, and I wanted to know, was the increase prompted by the feedback from the regulators themselves as part of the annual review, or was it what you determined based on your own internal models?
Bruce Thompson, Chief Financial Officer
To answer the question slightly differently which is that, as we work through an interim process with our regulatory supervisors. We do believe at this point that from an op-risk perspective, that we are adjusted and the amount of op-risk RWA that we have now is consistent with what you would need to exit parallel run.
Steven Chubak, Nomura
Okay, understood. So we shouldn’t expect any further increases as a percentage of RWA going forward, or is it simply too early to make that determination?
Bruce Thompson, Chief Financial Officer
We think with respect to op-risk RWA that we’re there, we obviously need to get through those elements that are rest of parallel run but from an perspective, we feel like we’re there.
Steven Chubak, Nomura
Okay. That’s really great. Then just one more quick one for me. I didn’t hear in the prepared remarks any color on the investment banking backlog and didn’t know if you can give us an update there as well?
Bruce Thompson, Chief Financial Officer
Yes, it’s interesting and we’ve to be a little bit careful. I’d say as we looked at the backlog and the pipeline particularly from an M&A perspective that we feel very good about where the pipeline was at year-end. The part of the stronger year-end pipeline that we have. The only tone of caution I would say is that we’ve obviously seen a little bit more volatility in both the fixed income and equity of new issue markets. But as it relate to the amount of business that we’re winning it’s getting queued up in the pipeline, we feel very good about that it was a good backlog at year-end.
Steven Chubak, Nomura
Okay, great. That’s it for me. Thank you for taking my questions.
Bruce Thompson, Chief Financial Officer
Thank you.
