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Borrowings
 12 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Borrowings BORROWINGS
 
The Company had total borrowings outstanding at September 30, 2023 with carrying values of $3,650,000,000 compared to $2,125,000,000 at September 30, 2022. The borrowings consisted of FHLB advances and funds received from the FRB's Bank Term Funding Program. The table below shows the contractual maturity dates of outstanding FHLB advances.
 
September 30, 2023September 30, 2022
 (In thousands)
Within 1 year$2,900,000 $2,025,000 
1 to 3 years— 100,000 
$2,900,000 $2,125,000 
 
As of September 30, 2023, there are no advances that are callable by the FHLB. Taking into account cash flow hedges, the weighted average effective maturity of FHLB advances at September 30, 2023 is 2.01 years.
 
Financial information pertaining to the weighted-average cost and the amount of FHLB advances were as follows.
 
202320222021
 ($ in thousands)
Weighted average interest rate, including cash flow hedges, at end of year3.83 %2.02 %1.51 %
Weighted daily average interest rate, including cash flow hedges, during the year3.42 %1.66 %1.98 %
Daily average of FHLB advances during the year$2,916,849 $1,731,110 $2,234,027 
Maximum amount of FHLB advances at any month end$3,425,000 $2,125,000 $2,700,000 
Interest expense during the year (including swap interest income and expense)$99,631 $28,729 $44,188 
 

The Bank has a credit line with the FHLB equal to 45% of total assets, subject to collateral requirements. The Bank has entered into borrowing agreements with the FHLB to borrow funds under a short-term floating rate cash management advance program and a fixed-rate term loan agreements. All borrowings are secured by stock of the FHLB, deposits with the FHLB and a blanket pledge of qualifying loans receivable as provided in the agreements with the FHLB.

During fiscal 2023, the Company borrowed $750,000,000 from the FRB's BTFP. This program offers up to 1 year fixed-rate term borrowings that are prepayable without penalty. These borrowings are not callable by the FRB and have contractual maturity dates within 1 year.