As legal losses recede, Morgan Stanley's op risk falls

Morgan Stanley’s operational risk-weighted assets fell by 7.4% in the first quarter of 2019, while those of most other big US banks edged upwards.

The New York-based dealer cut op RWAs by $8.2 billion to $102.4 billion in the three months to end-March. They are down 9% year-on-year.

BNY Mellon was the only other bank to lower op RWAs over the period, by $987 million (1.5%) to $67.3 billion.

In contrast, op RWAs rose quarter-on-quarter by 0.1% to $388.8 billion at JP Morgan; 0.2% to $309.6

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