New York, January 23, 2015 -- Moody's Investors Service has placed the ratings of E*TRADE Financial Corporation (ETFC) (Ba3 senior) on review for upgrade. At the same time Moody's affirmed the ratings of E*TRADE Bank (Ba1 deposits) and changed the bank's rating outlook to stable from positive. The rating actions follow ETFC's announcement that it has received regulatory approval to operate E*TRADE Bank at a Tier 1 leverage ratio of 9.0% and to realign its organizational structure by moving its two broker-dealer subsidiaries (E*TRADE Securities and E*TRADE Clearing) out from under E*TRADE Bank, which will allow the broker-dealer subsidiaries to pay a dividend to the parent company of approximately $430 million in the first quarter of 2015.

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