Revenue Recognition (Tables)

3 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the significant components of investment product fees for the periods indicated (dollars in millions):

	Three Months Ended December 31,
	2019		2018		% Change
Investment product fees:
Mutual fund service fees	$	80	$	67	19	%
Investment program fees	64		69		(7	)%
Other	1		7		(86	)%
Total investment product fees	$	145	$	143

The following table sets forth the disaggregation of the Company's revenue by major source for the periods indicated (dollars in millions):

	Three Months Ended December 31,
	2019		2018		% Change
Revenues:
Asset-based revenues:
Bank deposit account fees	$	454	$	428	6	%
Net interest revenue	359		376		(5	)%
Investment product fees	145		143		1	%
Total asset-based revenues	958		947
Transaction-based revenues:
Order routing revenue	135		129		5	%
Commissions (1)	132		364		(64	)%
Other	38		44		(14	)%
Total transaction-based revenues	305		537
Other revenues	28		32		(13	)%
Net revenues	$	1,291	$	1,516

(1) Effective October 3, 2019, the Company reduced its online exchange-listed stock, exchange traded funds (ETF) (domestic and Canadian) and option trade commissions from $6.95 to $0 per trade (plus $0.65 per contract and no exercise or assignment fees on option trades).

Contract with Customer, Asset and Liability

The following table presents the opening and closing balances of the Company's receivables from contracts with clients that are within the scope of ASC 606 on the Condensed Consolidated Balance Sheets (dollars in millions):

	Contract Balances
	Receivable from Clients		Receivable from Affiliates		Other Receivables			Total Receivables from Contracts with Clients
Opening balance, September 30, 2019	$	25	$	7	$	125		$	157
Closing balance, December 31, 2019	54		8		121			183
Increase (decrease)	$	29	$	1	$	(4	)	$	26