Morgan Stanley’s top-of-the-league TLAC rises further

The bank’s bail-in RWA buffer, already the highest among US peers, rose five percentage points in Q2

Morgan Stanley grew its total loss-absorbing capacity (TLAC) in the second quarter, retaining by far the largest distance to minimum requirements among US systemic lenders.

The bank’s ratio of TLAC-eligible debt and equity to risk-weighted assets (RWAs) rose from 46% to 51% in three months – the combination of a 2% rise in TLAC to $235.1 billion, and an 8% drop in RWAs, to $461 billion. TLAC is composed of Tier 1 capital and eligible long-term debt.

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