DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES (Tables)

12 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets at Fair Value

The following table presents the gross fair values and notional amounts of derivatives by product type, the amounts of counterparty and cash collateral netting on our Consolidated Statements of Financial Condition, as well as collateral posted and received under credit support agreements that do not meet the criteria for netting under GAAP.

	September 30, 2021						September 30, 2020
$ in millions	Derivative assets		Derivative liabilities		Notional amount		Derivative assets		Derivative liabilities		Notional amount
Derivatives not designated as hedging instruments
Interest rate - matched book	$	193	$	193	$	1,736	$	333	$	333	$	2,174
Interest rate - other (1)	144		122		15,087		240		161		19,206
Foreign exchange	3		—		826		—		2		605
Other	—		1		551		—		6		608
Subtotal	340		316		18,200		573		502		22,593
Derivatives designated as hedging instruments
Interest rate	—		—		850		—		—		850
Foreign exchange	2		—		939		—		3		866
Subtotal	2		—		1,789		—		3		1,716
Total gross fair value/notional amount	342		316		$	19,989	573		505		$	24,309
Offset on the Consolidated Statements of Financial Condition
Counterparty netting	(46)		(46)				(40)		(40)
Cash collateral netting	(41)		(42)				(95)		(72)
Total amounts offset	(87)		(88)				(135)		(112)
Net amounts presented on the Consolidated Statements of Financial Condition	255		228				438		393
Gross amounts not offset on the Consolidated Statements of Financial Condition
Financial instruments (2)	(205)		(193)				(349)		(333)
Total	$	50	$	35			$	89	$	60

(1)    Substantially all relates to interest rate derivatives entered into as part of our fixed income business operations, including TBA security contracts that are accounted for as derivatives.

(2)    Although the matched book derivative arrangements do not meet the definition of a master netting arrangement as specified by GAAP, the agreement with the third-party intermediary includes terms that are similar to a master netting agreement. As a result, we present the matched book amounts net in the preceding table.

Schedule of Derivative Liabilities at Fair Value

The following table presents the gross fair values and notional amounts of derivatives by product type, the amounts of counterparty and cash collateral netting on our Consolidated Statements of Financial Condition, as well as collateral posted and received under credit support agreements that do not meet the criteria for netting under GAAP.

	September 30, 2021						September 30, 2020
$ in millions	Derivative assets		Derivative liabilities		Notional amount		Derivative assets		Derivative liabilities		Notional amount
Derivatives not designated as hedging instruments
Interest rate - matched book	$	193	$	193	$	1,736	$	333	$	333	$	2,174
Interest rate - other (1)	144		122		15,087		240		161		19,206
Foreign exchange	3		—		826		—		2		605
Other	—		1		551		—		6		608
Subtotal	340		316		18,200		573		502		22,593
Derivatives designated as hedging instruments
Interest rate	—		—		850		—		—		850
Foreign exchange	2		—		939		—		3		866
Subtotal	2		—		1,789		—		3		1,716
Total gross fair value/notional amount	342		316		$	19,989	573		505		$	24,309
Offset on the Consolidated Statements of Financial Condition
Counterparty netting	(46)		(46)				(40)		(40)
Cash collateral netting	(41)		(42)				(95)		(72)
Total amounts offset	(87)		(88)				(135)		(112)
Net amounts presented on the Consolidated Statements of Financial Condition	255		228				438		393
Gross amounts not offset on the Consolidated Statements of Financial Condition
Financial instruments (2)	(205)		(193)				(349)		(333)
Total	$	50	$	35			$	89	$	60

(1)    Substantially all relates to interest rate derivatives entered into as part of our fixed income business operations, including TBA security contracts that are accounted for as derivatives.

(2)    Although the matched book derivative arrangements do not meet the definition of a master netting arrangement as specified by GAAP, the agreement with the third-party intermediary includes terms that are similar to a master netting agreement. As a result, we present the matched book amounts net in the preceding table.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table details the gains/(losses) included in AOCI, net of income taxes, on derivatives designated as hedging instruments. These gains/(losses) included any amounts reclassified from AOCI to net income during the year. See Note 20 for additional information.

	Year ended September 30,
$ in millions	2021		2020		2019
Interest rate (cash flow hedges)	$	26	$	(34)	$	(61)
Foreign exchange (net investment hedges)	(34)		5		22
Total gains/(losses) included in AOCI, net of taxes	$	(8)	$	(29)	$	(39)

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

The following table details the gains/(losses) included in AOCI, net of income taxes, on derivatives designated as hedging instruments. These gains/(losses) included any amounts reclassified from AOCI to net income during the year. See Note 20 for additional information.

	Year ended September 30,
$ in millions	2021		2020		2019
Interest rate (cash flow hedges)	$	26	$	(34)	$	(61)
Foreign exchange (net investment hedges)	(34)		5		22
Total gains/(losses) included in AOCI, net of taxes	$	(8)	$	(29)	$	(39)

Amount of Gain (Loss) on Derivatives Recognized in Income

The following table details the gains/(losses) on derivatives not designated as hedging instruments recognized on the Consolidated Statements of Income and Comprehensive Income.

		Year ended September 30,
$ in millions	Location of gain/(loss)	2021		2020		2019
Interest rate	Principal transactions/other revenues	$	13	$	7	$	7
Foreign exchange	Other revenues	$	(21)	$	—	$	25
Other	Principal transactions	$	4	$	(5)	$	—
Other	Compensation, commissions and benefits expense	$	—	$	(1)	$	5