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Offsetting Assets and Liabilities (Tables)
 3 Months Ended
Dec. 31, 2019
Offsetting [Abstract]  
Effect of Rights of Setoff Associated with Company's Recognized Assets and Liabilities
The following tables present information about the potential effect of rights of setoff associated with the Company's recognized assets and liabilities as of December 31, 2019 and September 30, 2019 (dollars in millions):
 
 
December 31, 2019
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Condensed Consolidated
Balance Sheet
 
 
 
 
Gross Amounts
of Recognized
Assets and
Liabilities
 
Gross Amounts
Offset in the
Condensed
Consolidated
Balance Sheet
 
Net Amounts
Presented in
the Condensed
Consolidated
Balance Sheet
 
Financial
Instruments(4)
 
Collateral
Received or
Pledged
(Including
Cash)(5)
 
Net
Amount(6)
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Investments segregated and on
   deposit for regulatory purposes:
 
 
 
 
 
 
 
 
 
 
 
 
Reverse repurchase agreements
 
$
500

 
$
—

 
$
500

 
$
—

 
$
(500
)
 
$
—

Receivable from brokers, dealers
   and clearing organizations:
 
 
 
 
 
 
 
 
 
 
 
 
Deposits paid for
securities borrowed(1)
 
1,244

 
—

 
1,244

 
(61
)
 
(1,161
)
 
22

Other assets:
 
 
 
 
 
 
 
 
 
 
 
 
Pay-variable interest rate swaps
 
45

 
—

 
45

 
(45
)
 
—

 
—

Total
 
$
1,789

 
$
—

 
$
1,789

 
$
(106
)
 
$
(1,661
)
 
$
22

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Payable to brokers, dealers
and clearing organizations:
 
 
 
 
 
 
 
 
 
 
 
 
Deposits received for
securities loaned(2)(3)
 
$
2,394

 
$
—

 
$
2,394

 
$
(61
)
 
$
(2,118
)
 
$
215

Accounts payable and other liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Pay-variable interest rate swaps
 
17

 
—

—

17

 
(16
)
 
—

 
1

Total
 
$
2,411

 
$
—

 
$
2,411

 
$
(77
)
 
$
(2,118
)
 
$
216

 
 
September 30, 2019
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Condensed Consolidated
Balance Sheet
 
 
 
 
Gross Amounts
of Recognized
Assets and
Liabilities
 
Gross Amounts
Offset in the
Condensed
Consolidated
Balance Sheet
 
Net Amounts
Presented in
the Condensed
Consolidated
Balance Sheet
 
Financial
Instruments(4)
 
Collateral
Received or
Pledged
(Including
Cash)(5)
 
Net
Amount(6)
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Investments segregated and on
   deposit for regulatory purposes:
 
 
 
 
 
 
 
 
 
 
 
 
Reverse repurchase agreements
 
$
500

 
$
—

 
$
500

 
$
—

 
$
(500
)
 
$
—

Receivable from brokers, dealers
and clearing organizations:
 
 
 
 
 
 
 
 
 
 
 
 
Deposits paid for
securities borrowed(1)
 
1,864

 
—

 
1,864

 
(38
)
 
(1,795
)
 
31

Other assets:
 
 
 
 
 
 
 
 
 
 
 
 
Pay-variable interest rate swaps
 
71

 
—

 
71

 
(71
)
 
—

 
—

Total
 
$
2,435

 
$
—

 
$
2,435

 
$
(109
)
 
$
(2,295
)
 
$
31

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Payable to brokers, dealers
and clearing organizations:
 
 
 
 
 
 
 
 
 
 
 
 
Deposits received for
securities loaned(2)(3)
 
$
3,189

 
$
—

 
$
3,189

 
$
(38
)
 
$
(2,821
)
 
$
330

Accounts payable and other liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Pay-variable interest rate swaps
 
3

 
—

 
3

 
(3
)
 
—

 
—

Total
 
$
3,192

 
$
—

 
$
3,192

 
$
(41
)
 
$
(2,821
)
 
$
330

 
(1)
Included in the gross amounts of deposits paid for securities borrowed is $484 million and $723 million as of December 31, 2019 and September 30, 2019, respectively, transacted through a risk-sharing program with the OCC, which guarantees the return of cash to the Company. See "General Contingencies" in Note 9 for a discussion of the potential risks associated with securities borrowing transactions and how the Company mitigates those risks.
(2)
Included in the gross amounts of deposits received for securities loaned is $1.69 billion and $2.48 billion as of December 31, 2019 and September 30, 2019, respectively, transacted through a risk-sharing program with the OCC, which guarantees the return of securities to the Company. See "General Contingencies" in Note 9 for a discussion of the potential risks associated with securities lending transactions and how the Company mitigates those risks.
(3)
Substantially all of the Company's securities lending transactions have a continuous contractual term and, upon notice by either party, may be terminated within two business days. The following table summarizes the Company's gross liability for securities lending transactions by the class of securities loaned (dollars in millions):
 
 
December 31,
2019
 
September 30,
2019
Deposits received for securities loaned:
 
 
 
 
Equity securities
 
$
1,922

 
$
2,629

Exchange-traded funds
 
300

 
285

Real estate investment trusts
 
85

 
181

Closed-end funds
 
76

 
86

Other
 
11

 
8

Total
 
$
2,394

 
$
3,189


(4)
Amounts represent recognized assets and liabilities that are subject to enforceable master agreements with rights of setoff.
(5)
Represents the fair value of collateral the Company had received or pledged under enforceable master agreements, limited for table presentation purposes to the net amount of the recognized assets due from or liabilities due to each counterparty. At December 31, 2019 and September 30, 2019, the Company had received total collateral with a fair value of $1.78 billion and $2.43 billion, respectively, and pledged total collateral with a fair value of $2.19 billion and $2.86 billion, respectively.
(6)
Represents the amount for which, in the case of net recognized assets, the Company had not received collateral, and in the case of net recognized liabilities, the Company had not pledged collateral.
Disaggregation of Gross Secured Lending Transactions The following table summarizes the Company's gross liability for securities lending transactions by the class of securities loaned (dollars in millions):
 
 
December 31,
2019
 
September 30,
2019
Deposits received for securities loaned:
 
 
 
 
Equity securities
 
$
1,922

 
$
2,629

Exchange-traded funds
 
300

 
285

Real estate investment trusts
 
85

 
181

Closed-end funds
 
76

 
86

Other
 
11

 
8

Total
 
$
2,394

 
$
3,189