Morgan Stanley 2014 Annual Report Download - page 207

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
At December 31, 2013.
At December 31, 2013 Fair Value Measurements Using:
Carrying Value Fair Value
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(dollars in millions)
Financial Assets:
Cash and due from banks ............ $ 16,602 $ 16,602 $16,602 $ — $ —
Interest bearing deposits with banks . . . 43,281 43,281 43,281 — —
Cash deposited with clearing
organizations or segregated under
federal and other regulations or
requirements .................... 39,203 39,203 39,203 — —
Securities purchased under agreements
to resell ........................ 117,264 117,263 — 116,584 679
Securities borrowed ................ 129,707 129,705 — 129,374 331
Customer and other receivables(1) ..... 53,112 53,031 — 47,525 5,506
Loans(2) ......................... 42,874 42,765 — 11,288 31,477
Financial Liabilities:
Deposits ......................... $112,194 $112,273 $ — $112,273 $ —
Commercial paper and other short-term
borrowings ..................... 795 795 — 787 8
Securities sold under agreements to
repurchase ...................... 145,115 145,157 — 138,161 6,996
Securities loaned ................... 32,799 32,826 — 31,731 1,095
Other secured financings ............ 9,009 9,034 — 5,845 3,189
Customer and other payables(1) ....... 154,654 154,654 — 154,654 —
Long-term borrowings .............. 117,938 123,133 — 122,099 1,034
(1) Accrued interest, fees, and dividend receivables and payables where carrying value approximates fair value have been excluded.
(2) Amounts include all loans measured at fair value on a non-recurring basis.
The fair value of the Company’s unfunded lending commitments, primarily related to corporate lending in the
Company’s Institutional Securities business segment, that are not carried at fair value at December 31, 2013 was
$853 million, of which $669 million and $184 million would be categorized in Level 2 and Level 3 of the fair
value hierarchy, respectively. The carrying value of these commitments, if fully funded, would be $75.4 billion.
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