Morgan Stanley 2014 Annual Report Download - page 184

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following fair value hierarchy tables present information about the Company’s assets and liabilities
measured at fair value on a recurring basis at December 31, 2014 and December 31, 2013.
Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2014.
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,
2014
(dollars in millions)
Assets at Fair Value
Trading assets:
U.S. government and agency securities:
U.S. Treasury securities ............. $ 16,961 $ — $ — $ — $ 16,961
U.S. agency securities .............. 850 18,193 — — 19,043
Total U.S. government and agency
securities .................. 17,811 18,193 — — 36,004
Other sovereign government obligations .... 15,149 7,888 41 — 23,078
Corporate and other debt:
State and municipal securities ........ — 2,049 — — 2,049
Residential mortgage-backed
securities ...................... — 1,991 175 — 2,166
Commercial mortgage-backed
securities ...................... — 1,484 96 — 1,580
Asset-backed securities ............. — 583 76 — 659
Corporate bonds ................... — 15,800 386 — 16,186
Collateralized debt and loan
obligations ..................... — 741 1,152 — 1,893
Loans and lending commitments ...... — 6,088 5,874 — 11,962
Other debt ....................... — 2,167 285 — 2,452
Total corporate and other debt .... — 30,903 8,044 — 38,947
Corporate equities(1) ................... 112,490 1,357 272 — 114,119
Derivative and other contracts:
Interest rate contracts ............... 663 495,026 2,484 — 498,173
Credit contracts ................... — 30,813 1,369 — 32,182
Foreign exchange contracts .......... 83 72,769 249 — 73,101
Equity contracts ................... 571 46,024 1,529 — 48,124
Commodity contracts ............... 4,105 18,042 2,268 — 24,415
Other ........................... — 376 — — 376
Netting(2) ........................ (4,910) (564,127) (4,220) (66,720) (639,977)
Total derivative and other
contracts ................... 512 98,923 3,679 (66,720) 36,394
Investments:
Private equity funds ................ — — 2,569 — 2,569
Real estate funds .................. — 7 1,746 — 1,753
Hedge funds ...................... — 344 343 — 687
Principal investments ............... 58 3 835 — 896
Other ........................... 225 198 323 — 746
Total investments .............. 283 552 5,816 — 6,651
Physical commodities .................. — 1,608 — — 1,608
Total trading assets ................ 146,245 159,424 17,852 (66,720) 256,801
AFS securities ............................ 37,200 32,016 — — 69,216
Securities received as collateral ............... 21,265 51 — — 21,316
Securities purchased under agreements to
resell .................................. — 1,113 — — 1,113
Intangible assets(3) ........................ — — 6 — 6
Total assets measured at fair value ............ $204,710 $ 192,604 $17,858 $(66,720) $ 348,452
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