(Bloomberg) -- Morgan Stanley, owner of the worlds biggest brokerage, will buy the remaining 35 percent of its wealth-management venture with Citigroup Inc. after winning Federal Reserve approval in the regulators annual stress test.
The purchase is subject to other regulatory approvals, the New York-based bank said today in a filing. Morgan Stanley would have a 5.62 percent Tier 1 common ratio in the most adverse economic scenario even after buying the stake, above the 5 percent minimum, the Fed said today.
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