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TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables)
 6 Months Ended
Sep. 30, 2023
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract]  
Schedule of trading and available-for-sale securities
As of September 30, 2023, and March 31, 2023, trading and available-for-sale securities consisted of:
 September 30, 2023March 31, 2023
 
Non-U.S. sovereign debt$2,323,178 1,029,857 
Corporate debt1,135,870 1,269,879 
Corporate equity97,718 65,741 
U.S. sovereign debt44,778 45,022 
Exchange traded notes2,340 2,057 
Total trading securities$3,603,884 $2,412,556 
September 30, 2023March 31, 2023
Corporate debt$133,093 $191,082 
Non-U.S. sovereign debt47,363 40,162 
U.S. sovereign debt12,090 7,809 
Total available-for-sale securities, at fair value$192,546 $239,053 
Schedule of maturity of available for sale securities
The following tables present maturity analysis for available-for-sale securities as of September 30, 2023, and March 31, 2023:

September 30, 2023
Remaining contractual maturity of the agreements
Up to 1 year1-5 years5-10 yearsMore than 10 yearsTotal
Corporate debt8,579 72,941 51,563 10 133,093 
Non-US sovereign debt— 35,935 5,316 6,112 47,363 
US sovereign debt1,990 7,334 1,624 1,142 12,090 
Total available-for-sale securities, at fair value$10,569 $116,210 $58,503 $7,264 $192,546 
March 31, 2023
Remaining contractual maturity of the agreements
Up to 1 year1-5 years5-10 yearsMore than 10 yearsTotal
Corporate debt77,006 82,579 31,486 11 191,082 
Non-US sovereign debt— 33,143 820 6,199 40,162 
US sovereign debt1,947 2,805 1,725 1,332 7,809 
Total available-for-sale securities, at fair value$78,953 $118,527 $34,031 $7,542 $239,053 
Schedule of present securities assets at fair value
The following tables present securities assets in the Сondensed Сonsolidated Balance Sheets or disclosed in the Notes to the condensed consolidated financial statements at fair value on a recurring basis as of September 30, 2023, and March 31, 2023:
Weighted Average
Interest Rate		Total
Fair Value Measurements as of September 30, 2023 using
Quoted Prices in
Active Markets
for Identical Assets		Significant
Other Observable
Inputs		Significant Unobservable
Units
(Level 1)(Level 2)(Level 3)
Non-U.S. sovereign debt12.48 %$2,323,178 $2,287,959 $35,219 $— 
Corporate debt15.31 %1,135,870 595,392 524,268 16,210 
Corporate equity— %97,718 75,154 2,233 20,331 
U.S. sovereign debt5.18 %44,778 44,778 — — 
Exchange traded notes— %2,340 907 1,433 — 
Total trading securities$3,603,884 $3,004,190 $563,153 $36,541 
Corporate debt17.68 %$133,093 $74,194 $58,899 $— 
Non-US sovereign debt13.81 %47,363 46,539 824 — 
US sovereign debt5.36 %12,090 12,090 — — 
Total available-for-sale securities, at fair value$192,546 $132,823 $59,723 $— 
Weighted Average
Interest Rate
TotalFair Value Measurements as of March 31, 2023 using
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable Inputs
Significant Unobservable Units
(Level 1)(Level 2)(Level 3)
Corporate debt15.62 %$1,269,879 $1,106,584 $162,895 $400 
Non-U.S. sovereign debt12.04 %1,029,857 971,762 54,319 3,776 
Corporate equity— 65,741 62,971 1,808 962 
U.S. sovereign debt4.22 %45,022 45,022 — — 
Exchange traded notes— 2,057 447 1,610 — 
Total trading securities$2,412,556 $2,186,786 $220,632 $5,138 
Corporate debt15.78 %$191,082 $129,504 $61,578 $— 
Non-U.S. sovereign debt13.64 %40,162 39,624 538 — 
U.S. sovereign debt4.24 %7,809 7,809 — — 
Total available-for-sale securities, at fair value$239,053 $176,937 $62,116 $— 
Schedule of valuation techniques and significant level 3 inputs
The tables below present the valuation techniques and significant level 3 inputs used in the valuation as of September 30, 2023, and March 31, 2023. The tables are not intended to be all inclusive, but instead capture the significant unobservable inputs relevant to determination of fair value.
TypeValuation TechniqueFV as of September 30, 2023Significant Unobservable Inputs%
Corporate debtDCF$15,816 Discount rate11.1%
Estimated number of years2 years
Corporate debtDCF394 Discount rate74.0%
Estimated number of years3 months
Corporate equityDCF19,996 Discount rate13.0%
Estimated number of years4 years, 6 months
Corporate equityDCF335 Discount rate58.8%
Estimated number of years9 years
Total$36,541 

TypeValuation TechniqueFV as of March 31, 2023Significant Unobservable Inputs%
Non-US sovereign debtDCF$3,776 Discount rate48.8%
Estimated number of years11 years
Corporate debtDCF400 Discount rate74.0%
Estimated number of years3 months
Corporate equityDCF962 Discount rate58.8%
Estimated number of years9 years
Total$5,138 
The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the six months ended September 30, 2023, and the year ended March 31, 2023:
Trading securities
Balance as of March 31, 2023
$5,138 
Purchase of investments that use Level 3 inputs35,805 
Reclassification to level 2(32)
Deconsolidation of Freedom UA securities(3,927)
Revaluation of investments that use Level 3 inputs113 
Reclassification to investment in associate(556)
Balance as of September 30, 2023
$36,541 
Balance as of March 31, 2022
$9,142 
Reclassification to level 2(1,339)
Sale of investments that use Level 3 inputs (5,213)
Purchase of investments that use Level 3 inputs2,604 
Revaluation of investments that use Level 3 inputs(56)
Balance as of March 31, 2023
$5,138 
Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities
The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of September 30, 2023, and March 31, 2023:
September 30, 2023
Assets measured at amortized costRecognized impairment loss in Income Statement
Unrealized loss accumulated in other comprehensive
loss
Assets
measured at
fair value		Maturity Date
Corporate debt$132,781 $(50)$362 $133,093 2023-2035
Non-US sovereign debt49,843 (309)(2,171)47,363 2024-indefinite
U.S. sovereign debt12,969 — (879)12,090 2023-2044
Total available-for-sale securities, at fair value$195,593 $(359)(2,688)$192,546 
March 31, 2023
Assets measured at amortized costRecognized impairment loss in Income StatementUnrealized loss accumulated in other comprehensive
income/(loss)		Assets
measured at
fair value		Maturity Date
Corporate debt$192,167 $(402)$(683)$191,082 2023-2035
Non-U.S. sovereign debt42,456 — (2,294)40,162 2024-indefinite
U.S. sovereign debt8,391 — (582)7,809 2023-2044
Total available-for-sale securities, at fair value$243,014 $(402)$(3,559)$239,053