v3.25.2
DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES (Tables)
 9 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets at Fair Value
The following table presents the gross fair values and notional amounts of derivatives by product type, the amounts of counterparty and cash collateral netting on our Condensed Consolidated Statements of Financial Condition, as well as collateral posted and received under credit support agreements that do not meet the criteria for netting under GAAP.
June 30, 2025September 30, 2024
$ in millionsDerivative assetsDerivative liabilitiesNotional amountDerivative assetsDerivative liabilitiesNotional amount
Derivatives not designated as hedging instruments
Interest rate (1)
$333 $338 $20,776 $336 $346 $20,629 
Foreign exchange— 1 646 2 1 949 
Other1 — 1,010 4 — 1,105 
Subtotal334 339 22,432 342 347 22,683 
Derivatives designated as hedging instruments
Interest rate
— — 900 2 — 1,250 
Foreign exchange
— 2 1,257 5 — 1,226 
Subtotal
— 2 2,157 7 — 2,476 
Total gross fair value/notional amount
334 341 $24,589 349 347 $25,159 
Offset on the Condensed Consolidated Statements of Financial Condition
Counterparty netting
(94)(94)(86)(86)
Cash collateral netting
(167)(37)(160)(37)
Total amounts offset
(261)(131)(246)(123)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition
$73 $210 $103 $224 
Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition
Financial instruments
(1)— (5)— 
Total
$72 $210 $98 $224 

(1)Included to-be-announced security contracts that are accounted for as derivatives.
Schedule of Derivative Liabilities at Fair Value
The following table presents the gross fair values and notional amounts of derivatives by product type, the amounts of counterparty and cash collateral netting on our Condensed Consolidated Statements of Financial Condition, as well as collateral posted and received under credit support agreements that do not meet the criteria for netting under GAAP.
June 30, 2025September 30, 2024
$ in millionsDerivative assetsDerivative liabilitiesNotional amountDerivative assetsDerivative liabilitiesNotional amount
Derivatives not designated as hedging instruments
Interest rate (1)
$333 $338 $20,776 $336 $346 $20,629 
Foreign exchange— 1 646 2 1 949 
Other1 — 1,010 4 — 1,105 
Subtotal334 339 22,432 342 347 22,683 
Derivatives designated as hedging instruments
Interest rate
— — 900 2 — 1,250 
Foreign exchange
— 2 1,257 5 — 1,226 
Subtotal
— 2 2,157 7 — 2,476 
Total gross fair value/notional amount
334 341 $24,589 349 347 $25,159 
Offset on the Condensed Consolidated Statements of Financial Condition
Counterparty netting
(94)(94)(86)(86)
Cash collateral netting
(167)(37)(160)(37)
Total amounts offset
(261)(131)(246)(123)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition
$73 $210 $103 $224 
Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition
Financial instruments
(1)— (5)— 
Total
$72 $210 $98 $224 

(1)Included to-be-announced security contracts that are accounted for as derivatives.
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The following table details the gains/(losses) included in accumulated other comprehensive income/(loss) (“AOCI”), net of income taxes, on derivatives designated as hedging instruments. These amounts do not include any offsetting gains/(losses) on the related hedged item. These gains/(losses) included any amounts reclassified from AOCI to net income during the period. See Note 17 for additional information.
 Three months ended June 30,Nine months ended June 30,
$ in millions2025202420252024
Interest rate (cash flow hedges)$(3)$(2)$(2)$(17)
Foreign exchange (net investment hedges)(46)10 14 10 
Total gains/(losses) included in AOCI, net of taxes
$(49)$8 $12 $(7)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table details the gains/(losses) included in accumulated other comprehensive income/(loss) (“AOCI”), net of income taxes, on derivatives designated as hedging instruments. These amounts do not include any offsetting gains/(losses) on the related hedged item. These gains/(losses) included any amounts reclassified from AOCI to net income during the period. See Note 17 for additional information.
 Three months ended June 30,Nine months ended June 30,
$ in millions2025202420252024
Interest rate (cash flow hedges)$(3)$(2)$(2)$(17)
Foreign exchange (net investment hedges)(46)10 14 10 
Total gains/(losses) included in AOCI, net of taxes
$(49)$8 $12 $(7)
Amount of Gain (Loss) on Derivatives Recognized in Income
The following table details the gains/(losses) on derivatives not designated as hedging instruments recognized on the Condensed Consolidated Statements of Income and Comprehensive Income. These amounts do not include any offsetting gains/(losses) on the related hedged item.
$ in millionsThree months ended June 30,Nine months ended June 30,
Location of gains/(losses)
2025202420252024
Interest rate
Principal transactions/other revenue
$4 $3 $11 $7 
Foreign exchange (1)
Other revenue
$(48)$11 $— $3 
OtherPrincipal transactions$(6)$— $(3)$— 
(1)The impacts included in our Condensed Consolidated Statements of Income and Comprehensive income of these gains/(losses) net of the gains/(losses) on the related hedged item were gains of $3 million and $2 million for the three months ended June 30, 2025 and 2024, respectively, and gains of $7 million and $5 million for the nine months ended June 30, 2025 and 2024, respectively.