INTEREST INCOME AND INTEREST EXPENSE

6 Months Ended

Mar. 31, 2020

Interest Income (Expense), Net [Abstract]

INTEREST INCOME AND INTEREST EXPENSE

INTEREST INCOME AND INTEREST EXPENSE

The following table details the components of interest income and interest expense.

	Three months ended March 31,						Six months ended March 31,
$ in millions	2020			2019			2020			2019
Interest income:
Assets segregated pursuant to regulations	$	11		$	17		$	22		$	32
Trading instruments	7			6			13			13
Available-for-sale securities	19			17			37			33
Margin loans	21			31			48			63
Bank loans, net of unearned income and deferred expenses	198			220			404			434
Loans to financial advisors	5			5			10			9
Corporate cash and all other	24			28			48			56
Total interest income	$	285		$	324		$	582		$	640
Interest expense:
Bank deposits	$	12		$	37		$	28		$	72
Trading instruments sold but not yet purchased	1			2			2			4
Brokerage client payables	3			5			6			11
Other borrowings	5			5			10			11
Senior notes payable	19			18			37			36
Other	3			8			11			14
Total interest expense	43			75			94			148
Net interest income	242			249			488			492
Bank loan loss provision	(109		)	(5		)	(107		)	(21		)
Net interest income after bank loan loss provision	$	133		$	244		$	381		$	471

Interest expense related to bank deposits in the preceding table excludes interest expense associated with affiliate deposits, which has been eliminated in consolidation.