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VARIABLE INTEREST ENTITIES | 9 Months Ended
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Jun. 30, 2026
Variable Interest Entities [Abstract] |
VARIABLE INTEREST ENTITIES | VARIABLE INTEREST ENTITIES A VIE requires consolidation by the entity’s primary beneficiary. We evaluate all of the entities in which we are involved to determine if the entity is a VIE and if so, whether we hold a variable interest and are the primary beneficiary. Refer to Note 2 of our 2025 Form 10-K for a discussion of our principal involvement with VIEs and the accounting policies regarding determination of whether we are deemed to be the primary beneficiary of VIEs. VIEs where we are the primary beneficiary Of the VIEs in which we hold an interest, we have determined that certain investments in low-income housing tax credit (“LIHTC”) funds and other funds that qualify for tax credits and the trust we utilize in connection with restricted stock unit (“RSU”) awards granted to certain employees of one of our Canadian subsidiaries (the “Restricted Stock Trust Fund”) require consolidation in our financial statements, as we are deemed the primary beneficiary of such VIEs. The aggregate assets and liabilities of the VIEs we consolidate are provided in the following table. Aggregate assets and aggregate liabilities may differ from the consolidated carrying value of assets and liabilities due to the elimination of intercompany assets and liabilities held by the consolidated VIE.
$ in millions |  | Aggregate assets |  | Aggregate liabilities
June 30, 2026 |  |  |  |
LIHTC funds |  | $ | 284 |  |  | $ | 145 |
Restricted Stock Trust Fund |  | 30 |  |  | 30 |
Total |  | $ | 314 |  |  | $ | 175 |
September 30, 2025 |  |  |  |
LIHTC funds |  | $ | 74 |  |  | $ | 20 |
Restricted Stock Trust Fund |  | 19 |  |  | 19 |
Total |  | $ | 93 |  |  | $ | 39 |
The following table presents information about the carrying value of the assets and liabilities of the VIEs which we consolidate and which are included on our Condensed Consolidated Statements of Financial Condition. Intercompany balances are eliminated in consolidation and are not reflected in the following table.
$ in millions |  | June 30, 2026 |  | September 30, 2025
Assets: |  |  |  |
Cash and cash equivalents and assets segregated for regulatory purposes and restricted cash |  | $ | 24 |  |  | $ | 19 |
Other assets |  | 260 |  |  | 55 |
Total assets |  | $ | 284 |  |  | $ | 74 |
Liabilities: |  |  |  |
Other payables |  | $ | 136 |  |  | $ | 13 |
Total liabilities |  | $ | 136 |  |  | $ | 13 |
Noncontrolling interests |  | $ | 42 |  |  | $ | 1 |
VIEs where we hold a variable interest but are not the primary beneficiary As discussed in Note 2 of our 2025 Form 10-K, we have concluded that for certain VIEs we are not the primary beneficiary and therefore do not consolidate these VIEs. Such VIEs primarily include certain LIHTC funds, certain other investments for which we receive tax credits, our interests in certain limited partnerships which are part of our private equity portfolio (“Private Equity Interests”), and other limited partnerships. Our risk of loss for these VIEs is limited to our investments in, advances to, and/or receivables due from these VIEs. Aggregate assets, liabilities, and risk of loss The aggregate assets, liabilities, and our exposure to loss from those VIEs in which we hold a variable interest, but as to which we have concluded we are not the primary beneficiary, are provided in the following table.
|  | June 30, 2026 |  | September 30, 2025
$ in millions |  | Aggregate assets |  | Aggregate liabilities |  | Our risk of loss |  | Aggregate assets |  | Aggregate liabilities |  | Our risk of loss
LIHTC funds |  | $ | 10,222 |  |  | $ | 3,028 |  |  | $ | 77 |  |  | $ | 9,680 |  |  | $ | 3,031 |  |  | $ | 133 |
Private Equity Interests |  | 3,216 |  |  | 976 |  |  | 112 |  |  | 3,043 |  |  | 948 |  |  | 105 |
Other |  | 830 |  |  | 244 |  |  | 137 |  |  | 596 |  |  | 217 |  |  | 115 |
Total |  | $ | 14,268 |  |  | $ | 4,248 |  |  | $ | 326 |  |  | $ | 13,319 |  |  | $ | 4,196 |  |  | $ | 353 |

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- Definition Variable Interest Entities + References No definition available. + Details
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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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