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Securities and Commodity Financing Transactions | 12 Months Ended
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Sep. 30, 2023
Broker-Dealer [Abstract] |
Securities and Commodity Financing Transactions | Securities and Commodity Financing Transactions The Company’s repurchase agreements and securities borrowing and lending arrangements are generally recorded at cost in the Condensed Consolidated Balance Sheets, which is a reasonable approximation of their fair values due to their short-term nature. Secured borrowing and lending arrangements are entered into to obtain collateral necessary to effect settlement, finance inventory positions, meet customer needs or re-lend as part of our dealer operations. The fair value of securities loaned and borrowed is monitored daily compared with the related payable or receivable, and additional collateral or returning excess collateral is requested, as appropriate. These arrangements may serve to limit credit risk resulting from our transactions with our counterparties. Financial instruments are pledged as collateral under repurchase agreements, securities lending agreements and other secured arrangements, including clearing arrangements. Agreements with counterparties generally contain contractual provisions allowing counterparties the right to sell or repledge collateral. Either the Company or its counterparties may require additional collateral. All collateral is held by the Company or a custodian. The following tables set forth the carrying value of repurchase agreements, and securities lending agreements by remaining contractual maturity (in millions):
| September 30, 2023
| Overnight and Open | Less than 30 Days | 30-90 Days | Over 90 Days | Total
Securities sold under agreements to repurchase | $ | 8,300.0 |  | $ | 786.8 |  | $ | 107.0 |  | $ | 2.6 |  | $ | 9,196.4 |
Securities loaned | 1,117.3 |  | — |  | — |  | — |  | 1,117.3 |
Gross amount of secured financing | $ | 9,417.3 |  | $ | 786.8 |  | $ | 107.0 |  | $ | 2.6 |  | $ | 10,313.7 |
| September 30, 2022
| Overnight and Open | Less than 30 Days | 30-90 Days | Over 90 Days | Total
Securities sold under agreements to repurchase | $ | 3,664.7 |  | $ | 2,279.1 |  | $ | 186.3 |  | $ | 3.4 |  | $ | 6,133.5 |
Securities loaned | 1,189.5 |  | — |  | — |  | — |  | 1,189.5 |
Gross amount of secured financing | $ | 4,854.2 |  | $ | 2,279.1 |  | $ | 186.3 |  | $ | 3.4 |  | $ | 7,323.0 |
Offsetting of Collateralized Transactions The following table sets forth the carrying value of repurchase agreements and securities lending agreements by class of collateral pledged (in millions):
| September 30,
Securities sold under agreements to repurchase | 2023 |  | 2022
U.S. Treasury obligations | $ | 3,696.1 |  |  | $ | 1,311.0 |
U.S. government agency obligations | 542.2 |  |  | 604.1 |
Asset-backed obligations | 102.9 |  |  | 178.0 |
Agency mortgage-backed obligations | 4,371.6 |  |  | 3,762.5 |
Foreign government obligations | 148.1 |  |  | 97.2 |
Corporate bonds | 335.5 |  |  | 180.7 |
Total securities sold under agreement to repurchase | $ | 9,196.4 |  |  | $ | 6,133.5 |
Securities loaned |  |  |
Equity securities | $ | 1,117.3 |  |  | $ | 1,189.5 |
Total securities loaned | 1,117.3 |  |  | 1,189.5 |
Gross amount of secured financing | $ | 10,313.7 |  |  | $ | 7,323.0 |
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):
| September 30, 2023
Offsetting of collateralized transactions: | Gross Amounts Recognized | Amounts Offset in the Consolidated Balance Sheet | Net Amounts Presented in the Consolidated Balance Sheet
Securities purchased under agreements to resell | $ | 7,649.3 |  | $ | (4,669.8) |  | $ | 2,979.5 |
Securities borrowed | $ | 1,129.1 |  | $ | — |  | $ | 1,129.1 |
Securities sold under agreements to repurchase | $ | 9,196.4 |  | $ | (4,669.8) |  | $ | 4,526.6 |
Securities loaned | $ | 1,117.3 |  | $ | — |  | $ | 1,117.3 |
| September 30, 2022
Offsetting of collateralized transactions: | Gross Amounts Recognized | Amounts Offset in the Consolidated Balance Sheet | Net Amounts Presented in the Consolidated Balance Sheet
Securities purchased under agreements to resell | $ | 4,609.9 |  | $ | (2,937.9) |  | $ | 1,672.0 |
Securities borrowed | $ | 1,209.8 |  | $ | — |  | $ | 1,209.8 |
Securities sold under agreements to repurchase | $ | 6,133.5 |  | $ | (2,937.9) |  | $ | 3,195.6 |
Securities loaned | $ | 1,189.5 |  | $ | — |  | $ | 1,189.5 |

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- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//860/tableOfContent + Details
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