Morgan Stanley 2010 Annual Report Download - page 157

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2010
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Counterparty
and Cash
Collateral
Netting
Balance at
December 31,
2010
(dollars in millions)
Assets
Financial instruments owned:
U.S. government and agency securities:
U.S. Treasury securities ........ $ 19,226 $ — $ — $ — $ 19,226
U.S. agency securities .......... 3,827 25,380 13 — 29,220
Total U.S. government and
agency securities ........ 23,053 25,380 13 — 48,446
Other sovereign government
obligations .................... 25,334 8,501 73 — 33,908
Corporate and other debt:
State and municipal securities . . . — 3,229 110 — 3,339
Residential mortgage-backed
securities .................. — 3,690 319 — 4,009
Commercial mortgage-backed
securities .................. — 2,692 188 — 2,880
Asset-backed securities ......... — 2,322 13 — 2,335
Corporate bonds .............. — 39,569 1,368 — 40,937
Collateralized debt obligations . . . — 2,305 1,659 — 3,964
Loans and lending
commitments .............. — 15,308 11,666 — 26,974
Other debt ................... — 3,523 193 — 3,716
Total corporate and other
debt .................. — 72,638 15,516 — 88,154
Corporate equities(1) .............. 65,009 2,923 484 — 68,416
Derivative and other contracts:
Interest rate contracts .......... 3,985 616,016 966 — 620,967
Credit contracts ............... — 95,818 14,316 — 110,134
Foreign exchange contracts ..... 1 61,556 431 — 61,988
Equity contracts .............. 2,176 36,612 1,058 — 39,846
Commodity contracts .......... 5,464 57,528 1,160 — 64,152
Other ....................... — 108 135 — 243
Netting(2) ................... (8,551) (761,939) (7,168) (68,380) (846,038)
Total derivative and other
contracts .............. 3,075 105,699 10,898 (68,380) 51,292
Investments:
Private equity funds ........... — — 1,986 — 1,986
Real estate funds .............. — 8 1,176 — 1,184
Hedge funds ................. — 736 901 — 1,637
Principal investments .......... 286 486 3,131 — 3,903
Other(3) .................... 403 79 560 — 1,042
Total investments ......... 689 1,309 7,754 — 9,752
Physical commodities .............. — 6,778 — — 6,778
Total financial instruments
owned .................... 117,160 223,228 34,738 (68,380) 306,746
Securities available for sale:
U.S. government and agency
securities .................. 20,792 8,857 — — 29,649
Securities received as collateral .......... 15,646 890 1 — 16,537
Intangible assets(4) .................... — — 157 — 157
Liabilities
Deposits ............................ $ — $ 3,011 $ 16 $ — $ 3,027
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