Morgan Stanley 2010 Annual Report Download - page 261

FINANCIAL DATA SUPPLEMENT (Unaudited)—Continued
Average Balances and Interest Rates and Net Interest Income
One Month Ended December 31, 2008
Average
Month-End
Balance(2) Interest
Annualized
Average
Rate
(dollars in millions)
Assets
Interest earning assets:
Financial instruments owned(1):
U.S. .................................................................. $122,842 $ 358 3.4%
Non-U.S. .............................................................. 49,384 37 0.9
Loans:
U.S. .................................................................. 6,527 15 2.7
Non-U.S. .............................................................. 5 — —
Interest bearing deposits with banks:
U.S. .................................................................. 56,784 4 0.1
Non-U.S. .............................................................. 18,053 15 1.0
Federal funds sold and securities purchased under agreements to resell and Securities
borrowed:
U.S. .................................................................. 99,626 166 2.0
Non-U.S. .............................................................. 65,568 214 3.8
Other:
U.S. .................................................................. 60,121 149 2.9
Non-U.S. .............................................................. 18,698 131 8.3
Total ............................................................. $497,608 $1,089 2.6%
Non-interest earning assets ........................................................ 170,292
Total assets ........................................................ $667,900
Liabilities and Equity
Interest bearing liabilities:
Commercial paper and other short-term borrowings:
U.S. .................................................................. $ 7,210 $ 27 4.4%
Non-U.S. .............................................................. 3,385 6 2.1
Deposits:
U.S. .................................................................. 47,082 53 1.3
Non-U.S. .............................................................. 137 — —
Long-term debt:
U.S. .................................................................. 169,117 570 4.0
Non-U.S. .............................................................. 3,463 9 3.1
Financial instruments sold, not yet purchased(1):
U.S. .................................................................. 36,450 — —
Non-U.S. .............................................................. 10,028 — —
Securities sold under agreements to repurchase and Securities loaned:
U.S. .................................................................. 76,223 99 1.5
Non-U.S. .............................................................. 34,578 256 8.7
Other:
U.S. .................................................................. 90,993 14 0.2
Non-U.S. .............................................................. 31,604 106 3.9
Total ............................................................. $510,270 $1,140 2.6
Non-interest bearing liabilities and equity ............................................ 157,630
Total liabilities and equity ........................................... $667,900
Net interest income and net interest rate spread ........................................ $ (51) — %
(1) Interest expense on Financial instruments sold, not yet purchased, is reported as a reduction of Interest income.
(2) The Company calculates its average balances based upon weekly amounts except where weekly balances are unavailable, month-end
balances are used.
(3) Amounts primarily relate to securities financing transactions, which include repurchase and resale agreements, securities borrowed and
loaned transactions, customer receivables/payables and segregated customer cash. The Company considers its principal trading,
investment banking, commissions, and interest and dividend income, along with the associated interest expense, as one integrated
activity for each of the Company’s separate businesses, and therefore, prior to December 2008, was unable to further break out Interest
income and Interest expense (see Note 1 to the consolidated financial statements).
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