March 2, 2017 / 9:54 PM / 7 months ago

Federal Reserve says no objections to Morgan Stanley capital plan

FILE PHOTO - The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, New York, U.S. on January 20, 2015. REUTERS/Mike Segar/File Photo

WASHINGTON (Reuters) - The Federal Reserve on Thursday said that it will not object to a fresh capital plan Morgan Stanley submitted to the central bank.

In June, the Fed faulted the investment bank for not having a satisfactory capital plan and asked for a new proposal.

“The Federal Reserve Board on Thursday announced that it will not object to a resubmitted capital plan from Morgan Stanley, as a result of progress made by the firm in addressing deficiencies,” the central bank said in a statement.

Reporting By Patrick Rucker; Editing by Chizu Nomiyama

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