Federal Reserve Board announces it has made the joint findings with the Office of the Comptroller of the Currency required for the OCC to approve a request by Morgan Stanley Bank, N.A., for an exemption under section 23A of the Federal Reserve Act

The Federal Reserve Board and Office of the Comptroller of the Currency have made joint findings to approve Morgan Stanley Bank's request for an exemption under section 23A of the Federal Reserve Act. This regulatory exemption relates to transactions between banks and their affiliates, potentially allowing Morgan Stanley more flexibility in its banking operations.

• →Federal Reserve Board and OCC made joint findings for Morgan Stanley Bank's section 23A exemption request.
• →Section 23A of the Federal Reserve Act governs transactions between banks and their affiliates.
• →The exemption could provide Morgan Stanley Bank with increased operational flexibility.
• →This represents continued regulatory accommodation for major financial institutions.
• →The approval process involved coordination between two key banking regulators.