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AVAILABLE-FOR-SALE SECURITIES
 3 Months Ended
Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]  
AVAILABLE-FOR-SALE SECURITIES AVAILABLE-FOR-SALE SECURITIES
See Note 2 of our 2023 Form 10-K for a discussion of our accounting policies applicable to our available-for-sale securities.

The following table details the amortized costs and fair values of our available-for-sale securities. See Note 3 for additional information regarding the fair value of available-for-sale securities.
$ in millionsCost basisGross
unrealized gains		Gross
unrealized losses		Fair value
December 31, 2023    
Agency residential MBS$4,665 $2 $(451)$4,216 
Agency commercial MBS1,457 — (162)1,295 
Agency CMOs1,407 — (213)1,194 
Other agency obligations694 — (17)677 
Non-agency residential MBS550 1 (37)514 
U.S. Treasuries1,161 — (12)1,149 
Corporate bonds140 — (5)135 
Other18 — — 18 
Total available-for-sale securities$10,092 $3 $(897)$9,198 
September 30, 2023    
Agency residential MBS$4,865 $— $(654)$4,211 
Agency commercial MBS1,464 — (211)1,253 
Agency CMOs1,448 — (265)1,183 
Other agency obligations710 — (31)679 
Non-agency residential MBS527 — (64)463 
U.S. Treasuries1,261 — (21)1,240 
Corporate bonds140 — (6)134 
Other18 — — 18 
Total available-for-sale securities$10,433 $— $(1,252)$9,181 

The amortized costs and fair values in the preceding table exclude $29 million and $28 million of accrued interest on available-for-sale securities as of December 31, 2023 and September 30, 2023, respectively, which was included in “Other receivables, net” on our Condensed Consolidated Statements of Financial Condition.

See Note 6 for more information regarding available-for-sale securities pledged with the Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank of Atlanta (“FRB”).
The following table details the contractual maturities, amortized costs, fair values and current yields for our available-for-sale securities.  Weighted-average yields are calculated on a taxable-equivalent basis based on estimated annual income divided by the average amortized cost of these securities. Since our MBS and CMO available-for-sale securities are backed by mortgages, actual maturities may differ from contractual maturities because borrowers may have the right to prepay obligations without prepayment penalties. As a result, the weighted-average life of our available-for-sale securities portfolio, after factoring in estimated prepayments, was approximately 4.0 years as of December 31, 2023.
 December 31, 2023
$ in millionsWithin one yearAfter one but
within five years		After five but
within ten years		After ten yearsTotal
Agency residential MBS
     
Amortized cost
$1 $112 $2,033 $2,519 $4,665 
Fair value$1 $108 $1,865 $2,242 $4,216 
Weighted-average yield
2.11 %2.53 %1.31 %1.95 %1.68 %
Agency commercial MBS
Amortized cost
$18 $933 $457 $49 $1,457 
Fair value$18 $856 $380 $41 $1,295 
Weighted-average yield
3.45 %1.60 %1.20 %1.87 %1.51 %
Agency CMOs
 
Amortized cost
$— $7 $39 $1,361 $1,407 
Fair value$— $7 $35 $1,152 $1,194 
Weighted-average yield
— %2.39 %1.52 %1.58 %1.58 %
Other agency obligations
Amortized cost
$79 $525 $80 $10 $694 
Fair value$79 $513 $76 $9 $677 
Weighted-average yield
2.08 %3.26 %3.43 %3.07 %3.15 %
Non-agency residential MBS
Amortized cost
$— $— $— $550 $550 
Fair value$— $— $— $514 $514 
Weighted-average yield
— %— %— %4.33 %4.33 %
U.S. Treasuries
Amortized cost
$821 $340 $— $— $1,161 
Fair value$811 $338 $— $— $1,149 
Weighted-average yield
2.67 %4.64 %— %— %3.25 %
Corporate bonds
Amortized cost
$31 $86 $23 $— $140 
Fair value$30 $84 $21 $— $135 
Weighted-average yield
4.73 %5.58 %5.02 %— %5.30 %
Other
Amortized cost
$— $5 $5 $8 $18 
Fair value$— $5 $4 $9 $18 
Weighted-average yield
— %7.39 %5.22 %8.32 %7.26 %
Total available-for-sale securities
Amortized cost
$950 $2,008 $2,637 $4,497 $10,092 
Fair value$939 $1,911 $2,381 $3,967 $9,198 
Weighted-average yield
2.70 %2.79 %1.39 %2.14 %2.13 %
The following table details the gross unrealized losses and fair values of securities that were in a loss position at the reporting period end, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position.
 Less than 12 months12 months or moreTotal
$ in millionsFair valueUnrealized
losses		Fair valueUnrealized
losses		Fair valueUnrealized
losses
December 31, 2023
Agency residential MBS
$18 $— $4,121 $(451)$4,139 $(451)
Agency commercial MBS
— — 1,292 (162)1,292 (162)
Agency CMOs
— — 1,194 (213)1,194 (213)
Other agency obligations63 — 614 (17)677 (17)
Non-agency residential MBS17 — 430 (37)447 (37)
U.S. Treasuries245 — 904 (12)1,149 (12)
Corporate bonds15 — 81 (5)96 (5)
Other 8 — 9 — 17 — 
Total$366 $— $8,645 $(897)$9,011 $(897)
September 30, 2023
Agency residential MBS
$73 $(3)$4,119 $(651)$4,192 $(654)
Agency commercial MBS
3 — 1,250 (211)1,253 (211)
Agency CMOs
— — 1,183 (265)1,183 (265)
Other agency obligations97 (1)582 (30)679 (31)
Non-agency residential MBS62 (1)401 (63)463 (64)
U.S. Treasuries120 — 995 (21)1,115 (21)
Corporate bonds13 — 78 (6)91 (6)
Other5 — 9 — 14 — 
Total
$373 $(5)$8,617 $(1,247)$8,990 $(1,252)

At December 31, 2023, of the 1,066 available-for-sale securities in an unrealized loss position, 36 were in a continuous unrealized loss position for less than 12 months and 1,030 securities were in a continuous unrealized loss position for greater than 12 months.

At December 31, 2023, debt securities we held in excess of ten percent of our equity included those issued by the Federal National Home Mortgage Association and Federal Home Loan Mortgage Corporation with amortized costs of $4.60 billion and $2.77 billion, respectively, and fair values of $4.11 billion and $2.45 billion, respectively.
During the three months ended December 31, 2023 and 2022, there were no sales of available-for-sale securities.