Morgan Stanley 2014 Annual Report Download - page 142

Download and view the complete annual report

Please find page 142 of the 2014 Morgan Stanley annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 327

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292
  • 293
  • 294
  • 295
  • 296
  • 297
  • 298
  • 299
  • 300
  • 301
  • 302
  • 303
  • 304
  • 305
  • 306
  • 307
  • 308
  • 309
  • 310
  • 311
  • 312
  • 313
  • 314
  • 315
  • 316
  • 317
  • 318
  • 319
  • 320
  • 321
  • 322
  • 323
  • 324
  • 325
  • 326
  • 327

Lending Activities.
The Company provides loans to a variety of customers, from large corporate and institutional clients to high net
worth individuals. In addition, the Company purchases loans in the secondary market. Loans held for investment
and loans held for sale are classified in Loans, and loans held at fair value are classified in Trading assets in the
Company’s consolidated statements of financial condition. See Notes 4 and 8 to the Company’s consolidated
financial statements in Item 8 for further information.
The following tables present the Company’s loan portfolio by loan type within its Institutional Securities and
Wealth Management business segments at December 31, 2014 and December 31, 2013.
At December 31, 2014
Institutional
Securities
Corporate
Lending(1)
Institutional
Securities
Other
Lending(2)
Wealth
Management
Lending(3) Total(4)
(dollars in millions)
Corporate loans ...................................... $ 7,957 $ 6,161 $ 5,423 $19,541
Consumer loans ..................................... — — 16,574 16,574
Residential real estate loans ............................ — — 15,727 15,727
Wholesale real estate loans ............................. — 5,277 — 5,277
Loans held for investment, net of allowance ............. 7,957 11,438 37,724 57,119
Corporate loans ...................................... 7,801 399 — 8,200
Consumer loans ..................................... — — — —
Residential real estate loans ............................ — 16 98 114
Wholesale real estate loans ............................. — 1,144 — 1,144
Loans held for sale .................................. 7,801 1,559 98 9,458
Corporate loans ...................................... 483 6,610 — 7,093
Consumer loans ..................................... — — — —
Residential real estate loans ............................ — 1,682 — 1,682
Wholesale real estate loans ............................. — 3,187 — 3,187
Loans held at fair value .............................. 483 11,479 — 11,962
Total loans ......................................... $16,241 $24,476 $37,822 $78,539
(1) In addition to loans, at December 31, 2014, $62.9 billion of unfunded lending commitments were accounted for as held for investment,
$15.8 billion of unfunded lending commitments were accounted for as held for sale and $3.3 billion of unfunded lending commitments
were accounted for at fair value.
(2) In addition to loans, at December 31, 2014, $2.3 billion of unfunded lending commitments were accounted for as held for investment,
$0.8 billion of unfunded lending commitments were accounted for as held for sale and $2.1 billion of unfunded lending commitments
were accounted for at fair value.
(3) In addition to loans, at December 31, 2014, $5.0 billion of unfunded lending commitments were accounted for as held for investment.
(4) Amounts exclude customer margin loans outstanding of $29.0 billion and employee loans outstanding of $5.1 billion at December 31,
2014. See Notes 6 and 8 to the Company’s consolidated financial statements in Item 8 for further information.
138