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Securities and Commodity Financing Transactions
 12 Months Ended
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 OpenLess than 30 Days30-90 DaysOver 90 DaysTotal
Securities sold under agreements to repurchase $8,300.0 $786.8 $107.0 $2.6 $9,196.4 
Securities loaned1,117.3 — — — 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 OpenLess than 30 Days30-90 DaysOver 90 DaysTotal
Securities sold under agreements to repurchase $3,664.7 $2,279.1 $186.3 $3.4 $6,133.5 
Securities loaned1,189.5 — — — 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 20232022
U.S. Treasury obligations$3,696.1 $1,311.0 
U.S. government agency obligations542.2 604.1 
Asset-backed obligations102.9 178.0 
Agency mortgage-backed obligations4,371.6 3,762.5 
Foreign government obligations148.1 97.2 
Corporate bonds335.5 180.7 
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 loaned1,117.3 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 RecognizedAmounts 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 RecognizedAmounts 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