Morgan Stanley Interest Expense on Repos and Securities Loaned decreased by 10.1% to $3.05B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 14.3%, from $2.67B to $3.05B. Over 3 years (FY 2022 to FY 2025), Interest Expense on Repos and Securities Loaned shows an upward trend with a 94.1% CAGR. This is a positive signal — lower values indicate better performance for this metric.
An increase suggests higher reliance on secured funding or rising short-term interest rates, while a decrease may indicate reduced leverage or lower funding costs.
This metric represents the interest costs incurred by the firm from financing activities involving repurchase agreements...
Standard for investment banks; comparable to interest expense on secured borrowings at peers like Goldman Sachs or JPMorgan.
cf_ms_interest_expense_repo_securities_loaned| Q2 '21 | Q3 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $116.00M | $131.00M | $49.00M | $174.00M | $501.00M | $1.04B | $1.22B | $1.45B | $1.90B | $2.17B | $2.40B | $2.72B | $2.99B | $2.67B | $3.07B | $3.36B | $3.39B | $3.05B |
| QoQ Change | — | +12.9% | -62.6% | +255.1% | +187.9% | +106.8% | +17.6% | +19.2% | +30.6% | +14.4% | +10.7% | +13.4% | +10.0% | -10.9% | +15.0% | +9.5% | +1.0% | -10.1% |
| YoY Change | — | — | — | +50.0% | +282.4% | — | >999% | +734.5% | +278.6% | +109.5% | +97.2% | +87.5% | +57.8% | +22.9% | +27.8% | +23.4% | +13.4% | +14.3% |