Morgan Stanley to beat 5 pct leverage requirement by 2015 -CFO
NEW YORK, July 18
NEW YORK, July 18 (Reuters) - Morgan Stanley will exceed its leverage ratio requirement by 2015 through its existing plan to reduce risky assets and focus on centrally cleared derivatives, Chief Financial Officer Ruth Porat said on Thursday.
The bank had a leverage ratio of 4.2 percent as of June 30, below the 5 percent requirement for bank holding companies laid out by regulators earlier this month. Banks must comply with the standard by 2018, according to the rule proposal.
On a conference call with analysts, Porat said Morgan Stanley has a "clearly identified path to exceed" the 5 percent benchmark in 2015, which aligns with its plans to reduce balance sheet risk to free up capital.
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Russia says it will respond if Ukraine interests attacked |
- 'Bridgegate' scandal threatens next World Trade Center tower
- Obama seeks to ease Asian allies' doubts during visit to Japan |
- NYPD Twitter campaign backfires, thousands of negative tweets