AVAILABLE-FOR-SALE SECURITIES (Tables)

3 Months Ended

Dec. 31, 2025

Debt Securities, Available-for-Sale [Abstract]

Amortized Cost and Estimated Fair Values of Available-For-Sale Securities, and Continuous Unrealized Loss Position

The following table details the amortized costs and fair values of our available-for-sale securities. See Note 2 of our 2025 Form 10-K for a discussion of our accounting policies applicable to our available-for-sale securities. See Note 3 of this Form 10-Q for additional information regarding the fair value of available-for-sale securities.

$ in millions	Cost basis		Gross unrealized gains		Gross unrealized losses		Fair value
December 31, 2025
Agency residential MBS	$	3,412	$	4	$	(236)	$	3,180
Agency commercial MBS	1,164		—		(75)		1,089
Agency CMOs	1,368		3		(136)		1,235
U.S. Treasuries	428		1		—		429
Other agency obligations	193		—		(1)		192
Non-agency residential MBS	464		1		(29)		436
Corporate bonds	71		1		—		72
Other	14		1		—		15
Total available-for-sale securities	$	7,114	$	11	$	(477)	$	6,648
September 30, 2025
Agency residential MBS	$	3,531	$	3	$	(265)	$	3,269
Agency commercial MBS	1,223		—		(85)		1,138
Agency CMOs	1,421		3		(147)		1,277
U.S. Treasuries	429		1		—		430
Other agency obligations	229		—		(2)		227
Non-agency residential MBS	484		1		(32)		453
Corporate bonds	79		1		(1)		79
Other	14		1		—		15
Total available-for-sale securities	$	7,410	$	10	$	(532)	$	6,888

Contractual Maturities, Amortized Cost, Carrying Values, and Current Yields for Available-For-Sales Securities

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 3.8 years as of December 31, 2025.

	December 31, 2025
$ in millions	Within one year			After one but within five years			After five but within ten years			After ten years			Total
Agency residential MBS
Amortized cost	$	1		$	290		$	1,641		$	1,480		$	3,412
Fair value	$	1		$	277		$	1,522		$	1,380		$	3,180
Weighted-average yield	2.06		%	1.29		%	1.31		%	2.79		%	1.95		%
Agency commercial MBS
Amortized cost	$	250		$	853		$	16		$	45		$	1,164
Fair value	$	247		$	789		$	15		$	38		$	1,089
Weighted-average yield	1.47		%	1.29		%	1.25		%	1.85		%	1.35		%
Agency CMOs
Amortized cost	$	—		$	—		$	32		$	1,336		$	1,368
Fair value	$	—		$	—		$	30		$	1,205		$	1,235
Weighted-average yield	—		%	—		%	1.46		%	2.32		%	2.30		%
U.S. Treasuries
Amortized cost	$	338		$	90		$	—		$	—		$	428
Fair value	$	339		$	90		$	—		$	—		$	429
Weighted-average yield	3.92		%	3.83		%	—		%	—		%	3.90		%
Other agency obligations
Amortized cost	$	53		$	104		$	28		$	8		$	193
Fair value	$	53		$	104		$	28		$	7		$	192
Weighted-average yield	2.91		%	3.63		%	2.42		%	3.07		%	3.23		%
Non-agency residential MBS
Amortized cost	$	—		$	—		$	—		$	464		$	464
Fair value	$	—		$	—		$	—		$	436		$	436
Weighted-average yield	—		%	—		%	—		%	4.07		%	4.07		%
Corporate bonds
Amortized cost	$	7		$	47		$	17		$	—		$	71
Fair value	$	7		$	47		$	18		$	—		$	72
Weighted-average yield	6.34		%	4.82		%	5.03		%	—		%	5.02		%
Other
Amortized cost	$	—		$	—		$	4		$	10		$	14
Fair value	$	—		$	—		$	5		$	10		$	15
Weighted-average yield	—		%	—		%	6.85		%	6.46		%	6.59		%
Total available-for-sale securities
Amortized cost	$	649		$	1,384		$	1,738		$	3,343		$	7,114
Fair value	$	647		$	1,307		$	1,618		$	3,076		$	6,648
Weighted-average yield	2.92		%	1.75		%	1.37		%	2.77		%	2.25		%

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

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 months				12 months or more				Total
$ in millions	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
December 31, 2025
Agency residential MBS	$	—	$	—	$	2,852	$	(236)	$	2,852	$	(236)
Agency commercial MBS	—		—		1,080		(75)		1,080		(75)
Agency CMOs	7		—		945		(136)		952		(136)
U.S. Treasuries	175		—		8		—		183		—
Other agency obligations	—		—		164		(1)		164		(1)
Non-agency residential MBS	—		—		375		(29)		375		(29)
Corporate bonds	2		—		13		—		15		—
Other	1		—		5		—		6		—
Total	$	185	$	—	$	5,442	$	(477)	$	5,627	$	(477)
September 30, 2025
Agency residential MBS	$	23	$	—	$	2,994	$	(265)	$	3,017	$	(265)
Agency commercial MBS	—		—		1,129		(85)		1,129		(85)
Agency CMOs	2		—		978		(147)		980		(147)
U.S. Treasuries	215		—		9		—		224		—
Other agency obligations	—		—		227		(2)		227		(2)
Non-agency residential MBS	—		—		380		(32)		380		(32)
Corporate bonds	—		—		15		(1)		15		(1)
Other	1		—		5		—		6		—
Total	$	241	$	—	$	5,737	$	(532)	$	5,978	$	(532)