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

SandwichTrader · 2026-03-26T21:12:28+00:00

The Federal Reserve Board and the OCC approved Morgan Stanley Bank's request for an exemption under section 23A to facilitate an internal reorganization with its affiliate in Germany.

SandwichTrader

2026-03-26 21:12:28

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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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Order (PDF)

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

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