Index of Risk and Capital Disclosures

The following table presents an index of Morgan Stanley's risk and capital disclosures in the 2025 Annual Report on Form 10-K, the Quarterly Report on Form 10-Q and the Basel III Pillar 3 Disclosure Report for the quarterly period ended March 31, 2026.

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	2025 Annual Report on Form 10-K	Q1 2026 Annual Quarterly Report on Form 10-Q	Q1 2026 Basel III Pillar 3 Disclosures
Risk Overview	Risk factors	13	77
	Liquidity risk management framework	47	20
	Regulatory requirements	51	23
	Regulatory developments and other matters	56	27
	Risk management	58	29
Liquidity Risk and Funding	Liquidity risk	76	37
	Required liquidity framework	46	19
	Liquidity resources	48	20
	Funding management	49	21
	Off-Balance sheet arrangements	51	23
	Borrowings and other secured financings	121	63
	Commitments, guarantees and contingencies	122	63
Operational Risk	Supervision and regulation	6
	Risk governance structure	58
	Risk management process	61	29
	Operational risk	73	37	23
	Legal, regulatory and compliance risk	77	37
Capital Adequacy and Risk-Weighted Assets	Regulatory capital framework	51, 132	23, 69	1
	Regulatory capital requirements	52, 133	24, 69	1
	Regulatory capital ratios	53, 133	25, 69	3
	Capital conservation buffer, countercyclical capital buffer and global systemically important bank surcharge	52	24	4
	Internal ratings system exposures			9
	Regulatory capital changes	53	25
	Risk-weighted assets rollforward	54	26
	Supplementary leverage ratio	53	25	24
	Attribution of average common equity according to the required capital framework	56	27
Market risk	Market risk	61	29	19
	Risk limits framework	61
	Trading risks	62	29
	Non-trading risks	64	30
	Credit spread risk sensitivity	64	30
	Interest rate risk sensitivity	64	30	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	65	31	5
	Credit risk: General disclosures			5
	Monitoring and control	65
	Credit exposures: Derivatives	71, 107	36
	Country risk exposure	72	36
	Derivative instruments and hedging activities	107	52
	Loans, lending commitments and allowance for credit losses	66, 115	31, 59	6
	Credit risk mitigation	66		13
	Equities not subject to the market risk capital rule			14
	Securitization exposures			15

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