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Morgan Stanley Shifts Accounting

Firm joins Goldman in using historical cost accounting for some corporate loans.

By Michael J. Moore, Bloomberg | Updated on February 17, 2012

Morgan Stanley increased its use of historical cost accounting for corporate loan commitments, joining Goldman Sachs Group Inc. in moving away from the mark-to-market approach the firms had earlier used.

Morgan Stanley raised the amount of loans and lending commitments that it accounted for as “held for investment,” or HFI, to $9.7 billion in the fourth quarter from $800 million a year earlier. Goldman Sachs decided to make the change to some of its corporate loan book, the Wall Street Journal reported yesterday, citing people familiar with the matter.

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