The US Federal Reserve Board announced it has made the joint findings with the Office of the Comptroller of the Currency (OCC) that are required for the OCC to approve Morgan Stanley Bank, N.A.’s request for an exemption under section 23A of the Federal Reserve Act. Section 23A sets limits and requirements on a bank’s transactions with its affiliates. Morgan Stanley Bank, N.A., of Salt Lake City, Utah, submitted the exemption request to support an internal corporate reorganization involving its affiliate Morgan Stanley Europe SE in Frankfurt am Main, Germany. The release was accompanied by an order and statements by Vice Chair Philip N. Jefferson, Vice Chair for Supervision Michelle W. Bowman, and Governors Michael S. Barr and Lisa D. Cook.
Federal Reserve Board 2026-03-26
US Federal Reserve Board makes joint findings with OCC for Morgan Stanley Bank section 23A exemption tied to internal reorganisation
The US Federal Reserve Board, in conjunction with the Office of the Comptroller of the Currency (OCC), has made the necessary findings for the OCC to approve Morgan Stanley Bank, N.A.'s exemption request under section 23A of the Federal Reserve Act. This exemption supports an internal corporate reorganization involving Morgan Stanley Europe SE. The announcement included an order and statements from key Federal Reserve officials.