0804 ET - Morgan Stanley increased its 1Q provision for credit losses for institutional securities due to a weakening macroeconomic forecast, as well as growth in secured lending facilities and corporate loan portfolio, the bank says. The credit loss provision, which reflects the bank's credit risk from things such as customer defaults, rose to $91 million from $2 million the year before. Within wealth management, the provision rose to $44 million from a loss of $8 million due to higher individual assessments in its loan portfolio from residential mortgages related to the California wildfires. The overall provision across segments rose to $135 million from a loss of $6 million. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 11, 2025 08:04 ET (12:04 GMT)
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