Morgan Stanley 2014 Annual Report Download - page 186

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2013.
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,
2013
(dollars in millions)
Assets at Fair Value
Trading assets:
U.S. government and agency securities:
U.S. Treasury securities .............. $ 32,083 $ — $ — $ — $ 32,083
U.S. agency securities ................ 1,216 17,720 — — 18,936
Total U.S. government and agency
securities .................... 33,299 17,720 — — 51,019
Other sovereign government obligations ..... 25,363 6,610 27 — 32,000
Corporate and other debt:
State and municipal securities .......... — 1,615 — — 1,615
Residential mortgage-backed securities . . — 2,029 47 — 2,076
Commercial mortgage-backed
securities ........................ — 1,534 108 — 1,642
Asset-backed securities ............... — 878 103 — 981
Corporate bonds .................... — 16,592 522 — 17,114
Collateralized debt and loan
obligations ....................... — 802 1,468 — 2,270
Loans and lending commitments ....... — 7,483 5,129 — 12,612
Other debt ......................... — 6,365 27 — 6,392
Total corporate and other debt ..... — 37,298 7,404 — 44,702
Corporate equities(1) ..................... 107,818 1,206 190 — 109,214
Derivative and other contracts:
Interest rate contracts ................ 750 526,127 2,475 — 529,352
Credit contracts ..................... — 42,258 2,088 — 44,346
Foreign exchange contracts ............ 52 61,570 179 — 61,801
Equity contracts ..................... 1,215 51,656 1,234 — 54,105
Commodity contracts ................ 2,396 8,595 2,380 — 13,371
Other ............................. — 43 — — 43
Netting(2) ......................... (3,836) (606,878) (4,931) (54,906) (670,551)
Total derivative and other
contracts .................... 577 83,371 3,425 (54,906) 32,467
Investments:
Private equity funds ................. — — 2,531 — 2,531
Real estate funds .................... — 6 1,637 — 1,643
Hedge funds ....................... — 377 432 — 809
Principal investments ................ 43 42 2,160 — 2,245
Other ............................. 202 45 538 — 785
Total investments ............... 245 470 7,298 — 8,013
Physical commodities .................... — 3,329 — — 3,329
Total trading assets .................. 167,302 150,004 18,344 (54,906) 280,744
AFS securities .............................. 24,412 29,018 — — 53,430
Securities received as collateral ................ 20,497 11 — — 20,508
Securities purchased under agreements to resell .... — 866 — — 866
Intangible assets(3) .......................... — — 8 — 8
Total assets measured at fair value .............. $212,211 $ 179,899 $18,352 $(54,906) $ 355,556
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