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Settlement Guarantee Management | 6 Months Ended
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Mar. 31, 2022
Settlement Guarantee Management [Abstract] |
Settlement Guarantee Management | Note 8—Settlement Guarantee Management The Company indemnifies its clients for settlement losses suffered due to failure of any other client to fund its settlement obligations in accordance with the Visa operating rules. This indemnification creates settlement risk for the Company due to the difference in timing between the date of a payment transaction and the date of subsequent settlement. Historically, the Company has experienced minimal losses as a result of its settlement risk guarantee. However, the Company’s future obligations, which could be material under its guarantees, are not determinable as they are dependent upon future events. The Company’s settlement exposure is limited to the amount of unsettled Visa payment transactions at any point in time, which vary significantly day to day. During the six months ended March 31, 2022, the Company’s maximum daily settlement exposure was $112.7 billion and the average daily settlement exposure was $71.3 billion. The Company maintains and regularly reviews global settlement risk policies and procedures to manage settlement exposure, which may require clients to post collateral if certain credit standards are not met. The Company held the following collateral to manage settlement exposure:
| March 31, 2022 |  | September 30, 2021
| (in millions)
Restricted cash and restricted cash equivalents | $ | 2,309 |  |  | $ | 2,260 |
Pledged securities at market value | 270 |  |  | 254 |
Letters of credit | 1,604 |  |  | 1,518 |
Guarantees | 793 |  |  | 758 |
Total | $ | 4,976 |  |  | $ | 4,790 |

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- Definition The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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- Definition Disclosure - Settlement Guarantee Management [Abstract] + References No definition available. + Details
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