Morgan Stanley Bank Receives Outstanding Rating from the Office of the Comptroller of the Currency

Morgan Stanley Bank, N.A., a subsidiary of Morgan Stanley, has been recognized with the highest rating from the Office of the Comptroller of the Currency (OCC) for its outstanding community reinvestment activities. This marks the eighth consecutive time that Morgan Stanley Bank has received an “Outstanding” rating from the OCC.

The OCC report highlights the bank’s initiatives that contributed to the rating, including over $6 billion in community development loans and investments over a three-year period. These funds were directed towards addressing the need for affordable housing, resident services to strengthen communities, and capital for small businesses.

Michael Pizzi, Head of U.S. Banks and Head of Technology at Morgan Stanley, expressed pride in the bank’s community reinvestment work and its continued focus on affordable housing and economic development. The evaluation noted that the bank’s community development lending and investment performance was excellent, with a particular emphasis on affordable housing, financial education, social services for low- and moderate-income individuals, and support for small businesses.

Morgan Stanley Bank’s Wholesale Bank designation for Community Reinvestment Act (CRA) allows it to leverage its expertise to meet community needs across the nation, in addition to serving its local assessment area. This regional and national focus has enabled the bank to respond to disaster areas, invest in rural areas with limited access to capital, and preserve affordable housing nationwide.

One notable project mentioned in the report is the Laurel at Perennial Park in Santa Rosa, California. Morgan Stanley Bank worked with the Burbank Housing Development Corporation to provide affordable housing construction loans and Low-Income Housing Tax Credit (LIHTC) equity for the redevelopment project. This initiative created 132 units of affordable housing for seniors, helping to rebuild after the devastating Tubbs wildfire in 2017.

The bank has also supported small businesses through SBA 504 loans and provided financing for the construction and preservation of affordable housing across rural areas. These efforts have helped stimulate local economies and create or retain jobs in communities that often face limited access to capital.

Mike Mantle, Head of Community Development Finance at Morgan Stanley, emphasized the bank’s commitment to making a positive impact in the communities it serves. He highlighted the critical need for affordable housing across the country and the importance of providing loans for small businesses, particularly in rural markets.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management, and investment management services. With its commitment to community reinvestment, the bank continues to contribute to thriving communities and address pressing societal needs.

For further information about Morgan Stanley, please visit www.morganstanley.com.

Source: Business Wire