Morgan Stanley will pay the US Ministry of Justice $ 2.6 billion

One of the largest US banks Morgan Stanley will pay $ 2.6 billion to the US Department of Justice as compensation for fraud with securities before the financial crisis. This is reported by Associated Press with reference to representatives of a credit institution.

The US authorities have proved that Morgan Stanley and other large banks underestimated the assessment of securities risks during the global financial crisis. As a result, the securities were resold by the American mortgage companies Fannie Mae and Freddie Mac, which then suffered significant losses.

In accordance with the terms of the pre -trial agreement, the bank is obliged to pay the specified amount. In this regard, the bank’s net profit in 2014 will decrease by 40% and amount to $ 1.35 per share.

For several years, the US authorities have been trying to recover from the Morgan Stanley compensation for losses of Fannie Mae and Freddie Mac, as well as funds spent by American taxpayers on their support during the crisis. So, in August 2014, the other largest US bank Bank of America paid almost $ 17 billion to a similar charges to the American Ministry of Justice.