Morgan Stanley

Morgan Stanley Announces Revision to Stress Capital Buffer

Sep 4, 2020

New York —

On September 4, 2020, the Board of Governors of the Federal Reserve System (FRB) released corrected CCAR 2020 results showing that Morgan Stanley (NYSE: MS) will be subject to a Stress Capital Buffer (SCB) of 5.7%, which is 0.2% lower than the previously announced SCB of 5.9%. This SCB will be in effect from October 1, 2020 to September 30, 2021. Together with other features of the regulatory capital framework, this correction results in an aggregate U.S. Basel III Standardized Approach Common Equity Tier 1 (CET1) ratio of 13.2% instead of 13.4%, as previously announced. The Firm’s U.S. Basel III Standardized Approach CET1 ratio was 16.5% as of June 30, 2020. 

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Forward-Looking Statements

This release contains forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect management’s current estimates, projections, expectations, assumptions, interpretations or beliefs and which are subject to risks and uncertainties that may cause actual results to differ materially. Morgan Stanley does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of forward-looking statements.  For a discussion of additional risks and uncertainties that may affect the future results, financial position or capital of Morgan Stanley, please see “Forward-Looking Statements” immediately preceding Part I, Item 1, “Competition” and “Supervision and Regulation” in Part I, Item 1, “Risk Factors” in Part I, Item 1A, “Legal Proceedings” in Part I, Item 3, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and “Quantitative and Qualitative Disclosures about Risk” in Part II, Item 7A, Morgan Stanley’s Annual Report on Form 10-K for the year ended December 31, 2019 and other items throughout the Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, including the risk factor under Item 8.01 “Other Matters” in the Current Report on Form 8-K dated April 16, 2020, and the additional risk factors under “Risk Factors” in the Registration Statement on Form S-4 filed on April 17, 2020, as amended.