MORGAN STANLEY
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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, 2026 · Filed Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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12. Borrowings and Other Secured Financings
- Borrowings and Other Secured Financings
Borrowings
| $ in millions | AtSeptember 30,2026 | AtDecember 31,2025 |
|---|---|---|
| Original maturities of one year or less | $10,499 | $7,254 |
| Original maturities greater than one year: | ||
| Senior | $367,321 | $329,502 |
| Subordinated | 10,769 | 12,179 |
| Total greater than one year | $378,090 | $341,681 |
| Total | $388,589 | $348,935 |
| Weighted average stated maturity, in years1 | 5.9 | 6.3 |
- Only includes borrowings with original maturities greater than one year.
| 65 | September 2026 Form 10-Q |
Table of Contents
Notes to Consolidated Financial Statements(Unaudited)
Other Secured Financings
| $ in millions | AtSeptember 30,2026 | AtDecember 31,2025 |
|---|---|---|
| Original maturities: | ||
| One year or less | $19,037 | $13,892 |
| Greater than one year | 8,877 | 7,711 |
| Total | $27,914 | $21,603 |
| Transfers of assets accounted for as secured financings | $12,679 | $9,713 |
Other secured financings include the liabilities related to collateralized notes, transfers of financial assets that are accounted for as financings rather than sales and consolidated VIEs where the Firm is deemed to be the primary beneficiary. These liabilities are generally payable from the cash flows of the related assets accounted for as Trading assets. See Note 14 for further information on other secured financings related to VIEs and securitization activities.
For transfers of assets that fail to meet accounting criteria for a sale, the Firm continues to record the assets and recognizes the associated liabilities in the balance sheet.
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