Federal Reserve Board announces it has made the joint findings with the Office



Federal Reserve Board - 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 Skip to main content

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March 26, 2026

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

For release at 5:00 p.m. EDT

The Federal Reserve Board on Thursday announced it has made the joint findings with the Office of the Comptroller of the Currency (OCC) required for the OCC to approve a request by Morgan Stanley Bank, N.A., of Salt Lake City, Utah, for an exemption under section 23A of the Federal Reserve Act. Section 23A establishes limits and imposes requirements on a bank's transactions with its affiliates. The bank submitted the request in order to engage in an internal corporate reorganization involving its affiliate, Morgan Stanley Europe SE, Frankfurt am Main, Germany.

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Statement by Vice Chair Philip N. Jefferson

Statement by Vice Chair for Supervision Michelle W. Bowman

Statement by Governor Michael S. Barr

Statement by Governor Lisa D. Cook

Last Update: March 26, 2026