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 following information was released by the Federal Reserve Board:

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.