What is Morgan Stanley's borrowings at fair value?

Morgan Stanley (MS) reported borrowings at fair value of $13.62B in Q1 2026.

What does borrowings at fair value mean?

Debt obligations measured at their current market value rather than historical cost.

Discontinued — last reported Q4 '23

Morgan Stanley Borrowings at Fair Value increased by 11.8% to $13.62B in Q1 2026 compared to the prior quarter.

StatementBalance Sheet Statement

SectionNon-Current Liabilities

CategoryLeverage

SignalContext dependent

VolatilityModerate

First reportedQ4 2021

Last reportedQ4 2023

Changes reflect both shifts in market interest rates and changes in the bank's credit spread, impacting the valuation of liabilities.

This represents debt obligations that the bank has elected to measure at fair value rather than amortized cost. This acc...

Used by large financial institutions under fair value option accounting standards.

Metric ID: borrowings_at_fair_value

2 periods

	Q4 '25	Q1 '26
Value	$12.18B	$13.62B
QoQ Change	—	+11.8%

Range$12.18B – $13.62B

What is Morgan Stanley's borrowings at fair value?: Morgan Stanley (MS) reported borrowings at fair value of $13.62B in Q1 2026.
What does borrowings at fair value mean?: Debt obligations measured at their current market value rather than historical cost.