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AVAILABLE-FOR-SALE SECURITIES
 9 Months Ended
Jun. 30, 2024
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
June 30, 2024    
Agency residential MBS$4,344 $— $(471)$3,873 
Agency commercial MBS1,439 — (159)1,280 
Agency CMOs1,381 — (214)1,167 
Other agency obligations629 — (16)613 
Non-agency residential MBS567 1 (47)521 
U.S. Treasuries949 — (4)945 
Corporate bonds116 1 (4)113 
Other19 — (1)18 
Total available-for-sale securities$9,444 $2 $(916)$8,530 
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 $28 million of accrued interest on available-for-sale securities as of both June 30, 2024 and September 30, 2023, 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 FHLB and 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 June 30, 2024.
 June 30, 2024
$ in millionsWithin one yearAfter one but
within five years		After five but
within ten years		After ten yearsTotal
Agency residential MBS
     
Amortized cost
$1 $99 $1,804 $2,440 $4,344 
Fair value$1 $97 $1,638 $2,137 $3,873 
Weighted-average yield
1.85 %2.52 %1.29 %2.04 %1.74 %
Agency commercial MBS
Amortized cost
$67 $911 $412 $49 $1,439 
Fair value$66 $833 $342 $39 $1,280 
Weighted-average yield
3.04 %1.53 %1.17 %1.87 %1.51 %
Agency CMOs
 
Amortized cost
$— $6 $36 $1,339 $1,381 
Fair value$— $6 $32 $1,129 $1,167 
Weighted-average yield
— %2.34 %1.52 %1.73 %1.73 %
Other agency obligations
Amortized cost
$195 $382 $43 $9 $629 
Fair value$192 $372 $40 $9 $613 
Weighted-average yield
2.64 %3.59 %3.05 %3.07 %3.25 %
Non-agency residential MBS
Amortized cost
$— $— $— $567 $567 
Fair value$— $— $— $521 $521 
Weighted-average yield
— %— %— %4.39 %4.39 %
U.S. Treasuries
Amortized cost
$763 $186 $— $— $949 
Fair value$759 $186 $— $— $945 
Weighted-average yield
3.68 %5.23 %— %— %3.99 %
Corporate bonds
Amortized cost
$14 $79 $23 $— $116 
Fair value$14 $77 $22 $— $113 
Weighted-average yield
3.71 %5.78 %5.02 %— %5.38 %
Other
Amortized cost
$— $5 $5 $9 $19 
Fair value$— $5 $4 $9 $18 
Weighted-average yield
— %7.38 %5.21 %8.24 %7.21 %
Total available-for-sale securities
Amortized cost
$1,040 $1,668 $2,323 $4,413 $9,444 
Fair value$1,032 $1,576 $2,078 $3,844 $8,530 
Weighted-average yield
3.45 %2.69 %1.35 %2.27 %2.25 %
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
June 30, 2024
Agency residential MBS
$88 $(1)$3,730 $(470)$3,818 $(471)
Agency commercial MBS
— — 1,277 (159)1,277 (159)
Agency CMOs
19 — 1,114 (214)1,133 (214)
Other agency obligations— — 613 (16)613 (16)
Non-agency residential MBS30 — 421 (47)451 (47)
U.S. Treasuries— — 525 (4)525 (4)
Corporate bonds— — 78 (4)78 (4)
Other — — 9 (1)9 (1)
Total$137 $(1)$7,767 $(915)$7,904 $(916)
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 June 30, 2024, of the 1,000 available-for-sale securities in an unrealized loss position, 17 were in a continuous unrealized loss position for less than 12 months and 983 securities were in a continuous unrealized loss position for greater than 12 months.

At June 30, 2024, 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 $4.36 billion and $2.66 billion, respectively, and fair values of $3.86 billion and $2.33 billion, respectively.
During the three and nine months ended June 30, 2024 and 2023, there were no sales of available-for-sale securities.