MORGAN STANLEY

For the period ended Sep 30, 2024. Filed Nov 4, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 4, 2024

MS$187.10+3.1%Stored close · as of Nov 9, 2026

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Contents

Financial Data Supplement (Unaudited)

Table of Contents

Financial Data Supplement(Unaudited)

Average Balances and Interest Rates and Net Interest Income

	Three Months Ended September 30,
2024 · 2023
$ in millions · Average Daily Balance · Interest · Annualized Average Rate · Average Daily Balance · Interest · Annualized Average Rate
Interest earning assets
Cash and cash equivalents1:
U.S.	$39,915	$405	4.0%	$56,844		$649	4.5%
Non-U.S.	43,911	275	2.5%	45,386		281	2.5%
Investment securities2	$158,115	1,335	3.4%	149,855		1,019	2.7%
Loans2	229,399	3,557	6.2%	215,797		3,236	5.9%
Securities purchased under agreements to resell3:
U.S.	76,150	2,069	10.8%	39,154		1,152	11.7%
Non-U.S.	47,101	1,511	12.8%	56,439		825	5.8%
Securities borrowed4:
U.S.	109,809	1,289	4.7%	109,269		1,204	4.4%
Non-U.S.	18,388	95	2.1%	17,641		103	2.3%
Trading assets, net of Trading liabilities:
U.S.	111,904	1,317	4.7%	99,865		1,105	4.4%
Non-U.S.	19,250	260	5.4%	17,237		229	5.3%
Customer receivables and Other1,10:
U.S.	55,738	1,506	10.7%	47,016		1,711	14.4%
Non-U.S.	15,710	566	14.3%	14,255		612	17.0%
Total	$925,390	$14,185	6.1%	$868,758		$12,126	5.5%
Interest bearing liabilities
Deposits2	$350,784	$2,751	3.1%	$341,475		$2,271	2.6%
Borrowings2,5	274,562	3,434	5.0%	250,440		2,992	4.7%
Securities sold under agreements to repurchase6,8:
U.S.	14,484	1,413	38.8%	26,790		1,047	15.5%
Non-U.S.	52,804	1,581	11.9%	48,171		850	7.0%
Securities loaned7,8:
U.S.	11,507	34	1.2%	3,422		20	2.3%
Non-U.S.	5,837	240	16.4%	9,732		188	7.7%
Customer payables and Other9,10:
U.S.	140,966	1,622	4.6%	130,722		1,824	5.5%
Non-U.S.	60,460	914	6.0%	62,004		957	6.1%
Total	$911,404	$11,989	5.2%	$872,756		$10,149	4.6%
Net interest income and net interest rate spread	$2,196	0.9%	$1,977		0.9%

	Nine Months Ended September 30,
2024 · 2023
$ in millions · Average Daily Balance · Interest · Annualized Average Rate · Average Daily Balance · Interest · Annualized Average Rate
Interest earning assets
Cash and cash equivalents1:
U.S.	$45,116	$1,486	4.4%	$57,345		$1,733	4.0%
Non-U.S.	43,953	830	2.5%	50,196		751	2.0%
Investment securities2	155,737	3,809	3.3%	154,304		2,886	2.5%
Loans2	224,134	10,345	6.2%	215,071		9,105	5.7%
Securities purchased under agreements to resell3:
U.S.	62,127	5,259	11.3%	46,670		3,216	9.2%
Non-U.S.	48,678	3,862	10.6%	61,648		2,066	4.5%
Securities borrowed4:
U.S.	108,510	3,798	4.7%	118,788		3,568	4.0%
Non-U.S.	18,817	320	2.3%	18,496		280	2.0%
Trading assets, net of Trading liabilities:
U.S.	106,242	3,783	4.8%	91,621		2,662	3.9%
Non-U.S.	14,628	707	6.5%	11,548		509	5.9%
Customer receivables and Other1,10:
U.S.	52,726	4,759	12.1%	45,800		4,554	13.3%
Non-U.S.	15,791	1,686	14.3%	14,818		1,689	15.2%
Total	$896,459	$40,644	6.1%	$886,305		$33,019	5.0%
Interest bearing liabilities
Deposits2	$347,548	$7,777	3.0%	$342,628		$5,793	2.3%
Borrowings2,5	261,239	9,985	5.1%	248,534		8,267	4.4%
Securities sold under agreements to repurchase6,8:
U.S.	19,104	3,928	27.6%	22,851		2,467	14.4%
Non-U.S.	55,603	4,192	10.1%	44,373		2,100	6.3%
Securities loaned7,8:
U.S.	9,355	75	1.1%	4,097		50	1.6%
Non-U.S.	6,889	692	13.5%	10,000		525	7.0%
Customer payables and Other9,10:
U.S.	133,046	5,148	5.2%	135,061		4,934	4.9%
Non-U.S.	61,571	2,788	6.1%	64,771		2,550	5.3%
Total	$894,355	$34,585	5.2%	$872,315		$26,686	4.1%
Net interest income and net interest rate spread	$6,059	0.9%	$6,333		0.9%

In the fourth quarter of 2023, interest bearing Cash and cash equivalents and related interest were presented separately for the first time. The prior period amounts for Customer receivables and Other have been disaggregated to exclude Cash and cash equivalents to align with the current presentation.
Amounts include primarily U.S. balances.
Includes interest paid on Securities purchased under agreements to resell.
Includes fees paid on Securities borrowed.
Average daily balance includes borrowings carried at fair value, but for certain borrowings, interest expense is considered part of fair value and is recorded in Trading revenues.
Includes interest received on Securities sold under agreements to repurchase.
Includes fees received on Securities loaned.
The annualized average rate was calculated using (a) interest expense incurred on all securities sold under agreements to repurchase and securities loaned transactions, whether or not such transactions were reported in the balance sheet and (b) net average on-balance sheet balances, which exclude certain securities-for-securities transactions.
Includes fees received from Equity Financing customers related to their short transactions, which can be under either margin or securities lending arrangements.
Certain prior period amounts have been adjusted to conform with the current period presentation. This adjustment resulted in a decrease to both interest income and interest expense of $1,179 million and $3,204 million for the three months and nine months ended September 30, 2023, respectively, and no effect on net interest income, with the entire impact to the Firm recorded within the Institutional Securities segment. See Note 2 for additional information.

79	September 2024 Form 10-Q

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