| Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets |
The following tables set forth the carrying value of repurchase agreements, and securities lending agreements by remaining contractual maturity (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Overnight and Open | | Less than 30 Days | | 30-90 Days | | Over 90 Days | | Total | | Securities sold under agreements to repurchase | $ | 20,159.3 | | | $ | 3,377.0 | | | $ | 410.9 | | | $ | 98.7 | | | $ | 24,045.9 | | | Securities loaned | 1,509.9 | | | — | | | — | | | — | | | 1,509.9 | | | Gross amount of secured financing | $ | 21,669.2 | | | $ | 3,377.0 | | | $ | 410.9 | | | $ | 98.7 | | | $ | 25,555.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | | Overnight and Open | | Less than 30 Days | | 30-90 Days | | Over 90 Days | | Total | | Securities sold under agreements to repurchase | $ | 15,260.8 | | | $ | 585.4 | | | $ | 631.0 | | | $ | 50.7 | | | $ | 16,527.9 | | | Securities loaned | 1,615.9 | | | — | | | — | | | — | | | 1,615.9 | | | Gross amount of secured financing | $ | 16,876.7 | | | $ | 585.4 | | | $ | 631.0 | | | $ | 50.7 | | | $ | 18,143.8 | |
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| Schedule of Financial Instruments Owned and Pledged as Collateral |
The following table sets forth the carrying value of repurchase agreements and securities lending agreements by class of collateral pledged (in millions): | | | | | | | | | | | | | Securities sold under agreements to repurchase | March 31, 2025 | | September 30, 2024 | | U.S. Treasury obligations | $ | 14,411.8 | | | $ | 9,673.7 | | | U.S. government agency obligations and municipal bonds | 719.1 | | | 652.0 | | | Asset-backed obligations | 107.3 | | | 136.1 | | | Agency mortgage-backed obligations | 7,077.9 | | | 5,079.6 | | | Foreign government obligations | 1,077.0 | | | 649.6 | | | Corporate bonds | 652.8 | | | 336.9 | | | Total securities sold under agreement to repurchase | $ | 24,045.9 | | | $ | 16,527.9 | | | | | | | Securities loaned | | | | | Equity securities | $ | 1,509.9 | | | $ | 1,615.9 | | | Total securities loaned | 1,509.9 | | | 1,615.9 | | | Gross amount of secured financing | $ | 25,555.8 | | | $ | 18,143.8 | |
The following tables provide the netting of securities purchased under agreements to resell, securities sold under agreements to repurchase, securities borrowed and securities loaned as of the periods indicated (in millions): | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Offsetting of collateralized transactions: | Gross Amounts Recognized | | Amounts Offset in the Condensed Consolidated Balance Sheet | | Net Amounts Presented in the Condensed Consolidated Balance Sheet | | Securities purchased under agreements to resell | $ | 19,826.2 | | | $ | (12,908.6) | | | $ | 6,917.6 | | | Securities borrowed | $ | 1,803.9 | | | $ | — | | | $ | 1,803.9 | | | Securities sold under agreements to repurchase | $ | 24,045.9 | | | $ | (12,908.6) | | | $ | 11,137.3 | | | Securities loaned | $ | 1,509.9 | | | $ | — | | | $ | 1,509.9 | |
| | | | | | | | | | | | | | | | | | | September 30, 2024 | | Offsetting of collateralized transactions: | Gross Amounts Recognized | | Amounts Offset in the Condensed Consolidated Balance Sheet | | Net Amounts Presented in the Condensed Consolidated Balance Sheet | | Securities purchased under agreements to resell | $ | 13,148.1 | | | $ | (7,946.6) | | | $ | 5,201.5 | | | Securities borrowed | $ | 1,662.3 | | | $ | — | | | $ | 1,662.3 | | | Securities sold under agreements to repurchase | $ | 16,527.9 | | | $ | (7,946.6) | | | $ | 8,581.3 | | | Securities loaned | $ | 1,615.9 | | | $ | — | | | $ | 1,615.9 | |
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| Schedule of Fair Values of Collateral Pledged, Received and Repledged |
The following table sets forth the fair values, which approximates carrying value because of the short term nature of collateral pledged, received and repledged (in millions): | | | | | | | | | | | | | March 31, 2025 | | September 30, 2024 | | Securities pledged or repledged to cover collateral requirements for tri-party arrangements | $ | 8,385.3 | | | $ | 6,777.9 | | | Securities received as collateral that may be repledged | $ | 25,714.7 | | | $ | 20,126.8 | | | Securities received as collateral that may be repledged covering securities sold short | $ | 2,966.4 | | | $ | 2,408.3 | | | Repledged securities borrowed and client securities held under custodial clearing arrangements to collateralize securities loaned agreements | $ | 1,577.3 | | | $ | 1,533.3 | |
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