Morgan Stanley 4Q14 Earnings Call Notes

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This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Reducing RWAs in bank to 180B

“From a capital perspective, we remain on track to reduce fixed income and commodities RWAs to $180 billion target by yearend 2015, down from $390 billion in 2011

Total assets are 808B

“Total assets were $808 billion at December 31, down from $815 billion at the end of the third quarter. Deposits as of quarter end were $134 billion, up $9 billion versus Q3, reflecting the on boarding of deposits from city and typical seasonal increases in client cash. Our liquidity reserve at the end of the quarter was $193 billion compared with $190 billion at the end of the third quarter.

Positive outlook driven by central bank support

“our outlook is consistent with data that suggest ongoing growth in the U.S. and the expectation the key market outside the U.S. will benefit from central bank support. Both should benefit client activity level particularly in the sales and trading businesses.

We’ve said we want out of the physical oil trading business

“I mean we are clearly into getting out of the physical oil business. We made that very clear. We had a contract for sale. We couldn’t complete for reasons outside of our control. And we will get out of the physical oil business.