(Bloomberg) -- Morgan Stanley is seeking Federal Reserve approval to buy the remaining 35 percent of its brokerage joint venture with Citigroup Inc. this year.
The company didnt ask for any additional return of capital to shareholders, Chief Financial Officer Ruth Porat said today in an interview. The firm had a 9.5 percent Tier 1 common ratio under Basel III rules as of Dec. 31, above its 8.5 percent requirement under guidelines set out by Financial Stability Board last year, she said.
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