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Morgan Stanley to Expand it's $500 Million Share buyback Program

According to reports, Morgan Stanley (NYSE:MS) will seek approval from the Federal Reserve to increase their $500 million share buyback program. All large banks or financial institutions must acquire approval from the Federal Reserve to buy back shares. A larger share buyback program would substantially boost the investment banks’ return on equity. As of last month, Morgan Stanley has spent $123 million out of the total $500 million share buyback to crawl back shares. The Wall Street Journal is reporting that by the end of this week, the scale of the buyback would be known. Right now the additional request is not clear.