Morgan Stanley

Investor Relations

By putting clients first, leading with exceptional ideas, doing the right thing, and giving back, Morgan Stanley aims to deliver results today, while setting strategic goals for the future.

The following table presents an index of Morgan Stanley's risk and capital disclosures in the 2021 Annual Report on Form 10-K and the Basel III Pillar 3 Disclosure Report for the quarterly period ended December 31, 2021.

Morgan Stanley's Pillar 3 Disclosures are not required to be, and have not been, audited by an independent registered public accounting firm. Morgan Stanley's Pillar 3 Disclosures were based on our current understanding of U.S. Basel III and other factors, which may be subject to change as additional clarification and implementation guidance from regulators relating to U.S. Basel III are received, and as the interpretation of the final rule evolves over time. Some measures of exposures may not be consistent with U.S. GAAP, and may not be comparable with measures reported in Morgan Stanley's Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q.

  Details 2021
Annual
Report on
Form 10-K
Q4 2021
Basel III
Pillar 3
Disclosures
Risk Overview Risk factors 9  
Liquidity risk management framework 41  
Regulatory requirements 45  
Regulatory developments and other matters 51  
Risk management 52  
Liquidity Risk
and Funding
Liquidity risk 68  
Required liquidity framework 41  
Liquidity resources 42  
Funding management 43  
Off-Balance sheet arrangements 45  
Borrowings and other secured financings 113  
Commitments, guarantees and contingencies 114  
Operational
Risk
Supervision and regulation 2  
Risk governance structure 52  
Risk management process 55  
Operational risk 67 23
Legal and compliance risk 69  
Capital Adequacy and Risk-Weighted Assets Regulatory capital framework 45, 123 1
Regulatory capital requirements 46, 123 1
Regulatory capital ratios 47, 124 3
Capital conservation buffer, countercyclical capital buffer and global systemically important bank surcharge 46 4
Internal ratings system exposures   9
Regulatory capital changes 47  
Risk-weighted assets rollforward 48  
Supplementary leverage ratio 47 24
Attribution of average common equity according to the required capital framework 50  
Market risk Market risk 55 19
Risk limits framework 55  
Trading risks 55  
Non-trading risks 58  
Credit spread risk sensitivity 58  
Interest rate risk sensitivity 58 19
Model methodology, assumptions and exposure measures   20
Model limitations   21
Model validation   22
Regulatory VaR backtesting   22
Covered positions   22
Stress testing of covered positions   23
Credit Risk Credit risk 59 5
Credit risk: General disclosures   5
Monitoring and control 59  
Credit exposures: Derivatives 65, 103  
Country risk exposure 66  
Derivative instruments and hedging activities 100  
Loans, lending commitments and allowance for credit losses 60, 108 6
Credit risk mitigation 60 13
Equities not subject to the market risk capital rule   14
Securitization exposures   15