Morgan Stanley 2010 Annual Report Download - page 264

FINANCIAL DATA SUPPLEMENT (Unaudited)—Continued
Short-Term Borrowings.
2010 2009 Fiscal 2008
One Month Ended
December 31, 2008
(dollars in millions)
Securities sold under agreements to repurchase(1):
Period-end balance ............................ $147,598 $159,401 $102,401 $ 92,213
Average balance(2)(3) ......................... 178,673 142,197 168,659 97,307
Maximum balance at any month-end .............. 216,130 210,482 272,126 102,401
Securities loaned(1):
Period-end balance ............................ $ 29,094 $ 26,246 $ 14,821 $ 14,580
Average balance(2) ........................... 31,915 22,679 58,754 14,701
Maximum balance at any month-end .............. 33,454 26,867 110,446 14,821
Commercial paper:
Period-end balance ............................ $ 945 $ 783 $ 6,744 $ 7,388
Average balance(2) ........................... 866 924 12,397 7,066
Maximum balance at any month-end .............. 1,098 5,367 19,895 7,388
Weighted average interest rate during the period .... 1.7% 2.4% 4.2% 2.7%
Weighted average interest rate on period-end
balance ................................... 2.5% 0.8% 2.6% 2.3%
(1) 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, is unable to provide
weighted average interest rates for Securities sold under repurchase agreements and Securities loaned. See Note 1 and Note 17 of the
consolidated financial statements for further information.
(2) The Company calculates its average balances based upon weekly amounts except where weekly balances are unavailable, month-end
balances are used.
(3) The period-end balance was lower than the annual average primarily due to the seasonal maturity of client financing activity on
December 31, 2010.
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