Structured product holdings fall at big US dealers
Morgan Stanley's portfolio more than halves in 2018 to $401 million
Leading US dealers' structured product portfolios contracted by more than $5 billion in 2018.
JP Morgan, Wells Fargo and Morgan Stanley saw their holdings shrink the most of the bulge-bracket investment banks, with falls of $2.4 billion (9%), $1.3 billion (3%) and $517 million (56%), respectively. Custody bank State Street also reported a diminished portfolio, down $638 million (34%).
In aggregate, the eight US global systemically important banks (G-Sibs) saw their portfolios shrink by $5.4
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