Raymond James Financial (RJF) 10-Q 8 Feb 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Feb. 07, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	RAYMOND JAMES FINANCIAL INC
Entity Central Index Key	720,005
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		141,037,985

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Assets:
Cash and cash equivalents	$ 4,322	$ 3,500
Cash segregated pursuant to regulations	2,782	2,441
Securities purchased under agreements to resell	399	373
Securities borrowed	140	255
Financial instruments, at fair value:
Trading instruments (includes $444 and $465 pledged as collateral)	691	702
Available-for-sale securities (includes $18 and $20 pledged as collateral)	2,797
Available-for-sale securities (includes $18 and $20 pledged as collateral)		2,696
Derivative assets	213	180
Private equity investments	154	147
Other investments (includes $25 and $25 pledged as collateral)	259	202
Brokerage client receivables, net	2,863	3,343
Receivables from brokers, dealers and clearing organizations	249	257
Other receivables	611	583
Bank loans, net	19,887	19,518
Loans to financial advisors, net	925	934
Property and equipment, net	490	486
Deferred income taxes, net	186	203
Goodwill and identifiable intangible assets, net	633	639
Other assets	840	847
Total assets	38,544	37,413
Liabilities and equity:
Bank deposits	21,673	19,942
Securities sold under agreements to repurchase	156	186
Securities loaned	330	423
Financial instruments sold but not yet purchased, at fair value:
Trading instruments	279	235
Derivative liabilities	232	247
Brokerage client payables	5,245	5,625
Payables to brokers, dealers and clearing organizations	131	206
Accrued compensation, commissions and benefits	799	1,189
Other payables	726	459
Other borrowings	1,198	899
Senior notes payable	1,550	1,550
Total liabilities	32,319	30,961
Commitments and contingencies (see Note 12)
Equity
Preferred stock; $.10 par value; 10,000,000 shares authorized; -0- shares issued and outstanding	0	0
Common stock; $.01 par value; 350,000,000 shares authorized; 157,645,318 and 156,363,615 shares issued as of December 31, 2018 and September 30, 2018, respectively, and 140,616,735 and 145,642,437 shares outstanding as of December 31, 2018 and September 30, 2018, respectively	2	2
Additional paid-in capital	1,871	1,808
Retained earnings	5,236	5,032
Treasury stock, at cost; 17,028,583 and 10,693,026 common shares as of December 31, 2018 and September 30, 2018, respectively	(927)	(447)
Accumulated other comprehensive loss	(39)	(27)
Total equity attributable to Raymond James Financial, Inc.	6,143	6,368
Noncontrolling interests	82	84
Total equity	6,225	6,452
Total liabilities and equity	38,544	37,413
LIHTC Funds - Primary Beneficiary
Financial instruments, at fair value:
Investments in real estate partnerships held by consolidated variable interest entities	$ 103	$ 107

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Statement of Financial Position [Abstract]
Trading instruments, pledged as collateral	$ 444	$ 465
Other investments, pledged as collateral	25	25
Available-for-sale securities, pledged as collateral	$ 18	$ 20
Equity:
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	157,645,318	156,363,615
Common stock, shares outstanding (in shares)	140,616,735	145,642,437
Treasury stock, shares (in shares)	17,028,583	10,693,026

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax	$ 22	$ (12)
Revenues:
Principal transactions	76	97
Interest income	316	232
Other	1,688	1,534
Total revenues	2,004	1,766
Interest expense	(73)	(40)
Net revenues	1,931	1,726
Non-interest expenses:
Compensation, commissions and benefits	1,265	1,153
Communications and information processing	92	80
Occupancy and equipment costs	51	50
Business development	43	34
Investment sub-advisory fees	24	22
Professional fees	22	12
Bank loan loss provision	16	1
Acquisition and disposition-related expenses	15	4
Other	73	59
Total non-interest expenses	1,601	1,415
Income including noncontrolling interests and before provision for income taxes	330	311
Provision for income taxes	83	192
Net income including noncontrolling interests	247	119
Net loss attributable to noncontrolling interests	(2)	0
Net income attributable to Raymond James Financial, Inc.	$ 249	$ 119
Earnings per common share – basic (in dollars per share)	$ 1.73	$ 0.82
Earnings per common share – diluted (in dollars per share)	$ 1.69	$ 0.80
Weighted-average common shares outstanding – basic (in shares)	144.2	144.5
Weighted-average common and common equivalent shares outstanding – diluted (in shares)	147.3	148.3
Net income attributable to RJF	$ 249	$ 119
Other comprehensive (loss) income, net of tax:
Net change in unrealized loss on currency translations, net of the impact of net investment hedges	(13)	0
Net change in unrealized gain on cash flow hedges	(17)	7
Total comprehensive income	241	114
Asset management and related administrative fees
Revenues:
Revenue from contract with customer	865	729
Total brokerage revenues
Revenues:
Other	464	513
Securities commissions
Revenues:
Revenue from contract with customer	388	416
Account and service fees
Revenues:
Revenue from contract with customer	185	171
Investment banking
Revenues:
Revenue from contract with customer	137	88
Total other
Revenues:
Other	$ 37	$ 33

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common stock, par value $.01 per share	Additional paid-in capital	Retained earnings	Treasury stock	Accumulated other comprehensive loss	Total equity attributable to Raymond James Financial, Inc.	Noncontrolling interests
Balance beginning of period at Sep. 30, 2017		$ 2	$ 1,645	$ 4,340	$ (390)	$ (15)		$ 112
Changes in Shareholders' Equity:
Share issuances		0
Employee stock purchases			6
Exercise of stock options and vesting of restricted stock units, net of forfeitures			21		(13)
Restricted stock, stock option and restricted stock unit expense			33
Other				0		0
Net income attributable to Raymond James Financial, Inc.	$ 119			119
Cash dividends declared (see Note 18)				(39)
Purchases/surrenders					(7)
Net change in unrealized loss on available-for-sale securities, net of tax	(12)					(12)
Net change in unrealized loss on currency translations, net of the impact of net investment hedges, net of tax	0					0
Net change in unrealized gain on cash flow hedges, net of tax	7					7
Net loss attributable to noncontrolling interests	0							0
Capital contributions								0
Distributions								(6)
Balance end of period at Dec. 31, 2017	5,803	2	1,705	4,420	(410)	(20)	$ 5,697	106
Balance beginning of period at Sep. 30, 2018	6,452	2	1,808	5,032	(447)	(27)		84
Changes in Shareholders' Equity:
Share issuances		0
Employee stock purchases			8
Exercise of stock options and vesting of restricted stock units, net of forfeitures			16		(16)
Restricted stock, stock option and restricted stock unit expense			39
Other				5		(4)
Net income attributable to Raymond James Financial, Inc.	249			249
Cash dividends declared (see Note 18)				(50)
Purchases/surrenders					(464)
Net change in unrealized loss on available-for-sale securities, net of tax	22					22
Net change in unrealized loss on currency translations, net of the impact of net investment hedges, net of tax	(13)					(13)
Net change in unrealized gain on cash flow hedges, net of tax	(17)					(17)
Net loss attributable to noncontrolling interests	2							(2)
Capital contributions								2
Distributions								(2)
Balance end of period at Dec. 31, 2018	$ 6,225	$ 2	$ 1,871	$ 5,236	$ (927)	$ (39)	$ 6,143	$ 82

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDER'S EQUITY (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income attributable to Raymond James Financial, Inc.	$ 249	$ 119
Net loss attributable to noncontrolling interests	(2)	0
Net income including noncontrolling interests	247	119
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization	26	23
Deferred income taxes	6	121
Premium and discount amortization on available-for-sale securities and loss on other investments	3	0
Provisions for loan losses, legal and regulatory proceedings and bad debts	32	9
Share-based compensation expense	37	38
Unrealized (gain)/loss on company-owned life insurance policies, net of expenses	58	(17)
Other	11	6
Net change in:
Securities purchased under agreements to resell, net of securities sold under agreements to repurchase	(60)	104
Securities borrowed, net of securities loaned	22	(140)
Loans provided to financial advisors, net of repayments	0	(22)
Brokerage client receivables and other accounts receivable, net	446	124
Trading instruments, net	62	(47)
Derivative instruments, net	(60)	30
Other assets	(22)	(19)
Brokerage client payables and other accounts payable	(242)	467
Accrued compensation, commissions and benefits	(389)	(266)
Proceeds from sales of securitizations and loans held for sale, net of purchases and originations of loans held for sale	48	(108)
Net cash provided by operating activities	225	422
Cash flows from investing activities:
Additions to property and equipment	(27)	(36)
Increase in bank loans, net	(461)	(645)
Proceeds from sales of loans held for investment	129	22
Purchases of available-for-sale securities	(291)
Purchases of available-for-sale securities		(340)
Available-for-sale securities maturations, repayments and redemptions	151
Available-for-sale securities maturations, repayments and redemptions		114
Business acquisition, net of cash acquired	0	(159)
Other investing activities, net	(34)	(30)
Net cash used in investing activities	(533)	(1,074)
Cash flows from financing activities:
Repayments of short-term borrowings, net	0	(280)
Repayments of Federal Home Loan Bank advances and other borrowed funds	(1)	(1)
Exercise of stock options and employee stock purchases	23	26
Increase in bank deposits	1,731	993
Purchases of treasury stock	(480)	(20)
Dividends on common stock	(47)	(32)
Distributions to noncontrolling interests, net	0	(6)
Net cash provided by financing activities	1,526	980
Currency adjustment:
Effect of exchange rate changes on cash	(55)	(7)
Net increase in cash, cash equivalents, and cash segregated pursuant to regulations	1,163	321
Cash, cash equivalents, and cash segregated pursuant to regulations at beginning of year	5,941	7,146
Cash, cash equivalents, and cash segregated pursuant to regulations at end of period	7,104	7,467
Cash and cash equivalents	4,322	3,898
Cash segregated pursuant to regulations	2,782	3,569
Supplemental disclosures of cash flow information:
Cash paid for interest	62	28
Cash paid for income taxes, net	10	9
RJF Credit Facility
Cash flows from financing activities:
Proceeds from borrowings on the RJF Credit Facility	$ 300	$ 300

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Organization Raymond James Financial, Inc. (“RJF,” the “firm” or the “Company”) is a financial holding company which, together with its subsidiaries, is engaged in various financial services activities, including providing investment management services for retail and institutional clients, the underwriting, distribution, trading and brokerage of equity and debt securities and the sale of mutual funds and other investment products. The firm also provides corporate and retail banking services, and trust services. For further information about our business segments, see Note 19 of this Form 10-Q. As used herein, the terms “our,” “we,” or “us” refer to RJF and/or one or more of its subsidiaries. Basis of presentation The accompanying unaudited condensed consolidated financial statements include the accounts of RJF and its consolidated subsidiaries that are generally controlled through a majority voting interest. We consolidate all of our 100% owned subsidiaries. In addition, we consolidate any variable interest entity ( “VIE” ) in which we are the primary beneficiary. Additional information on these VIEs is provided in Note 2 of our Annual Report on Form 10-K (the “2018 Form 10-K”) for the year ended September 30, 2018 , as filed with the United States (“U.S.”) Securities and Exchange Commission (“SEC”) and in Note 8 of this Form 10-Q. When we do not have a controlling interest in an entity, but we exert significant influence over the entity, we apply the equity method of accounting. All material intercompany balances and transactions have been eliminated in consolidation. Accounting estimates and assumptions Certain financial information that is normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“ GAAP ”) but not required for interim reporting purposes has been condensed or omitted. These unaudited condensed consolidated financial statements reflect, in the opinion of management, all adjustments necessary for a fair presentation of the consolidated financial position and results of operations for the periods presented. The nature of our business is such that the results of any interim period are not necessarily indicative of results for a full year. These unaudited condensed consolidated financial statements should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and notes thereto included in our 2018 Form 10-K. To prepare condensed consolidated financial statements in conformity with GAAP , we must make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates and could have a material impact on the condensed consolidated financial statements. Reclassifications Effective with the firm’s first fiscal quarter ended December 31, 2018, we have reclassified certain revenues among income statement line items and renamed certain line items. These reclassifications do not affect the Company’s reported total revenues or the total revenues in any of our segments for any of the previously reported periods. Prior period results have been conformed to the current presentation. In addition to the reclassification discussed above, certain other prior period amounts have been reclassified to conform to the current period’s presentation.

UPDATE OF SIGNIFICANT ACCOUNTIN

UPDATE OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
UPDATE OF SIGNIFICANT ACCOUNTING POLICIES	UPDATE OF SIGNIFICANT ACCOUNTING POLICIES A summary of our significant accounting policies is included in Note 2 of our 2018 Form 10-K. During the three months ended December 31, 2018 , there were no significant changes to our significant accounting policies other than the accounting policies adopted or modified as part of our implementation of new or amended accounting guidance, as noted below. Loans to financial advisors, net We offer loans to financial advisors and certain other key revenue producers, primarily for recruiting, transitional cost assistance, and retention purposes. We present the outstanding balance of loans to financial advisors on our Condensed Consolidated Statements of Financial Condition, net of the allowance for doubtful accounts. Of the gross balance outstanding, the portion associated with financial advisors who are no longer affiliated with us was $22 million and $20 million at December 31, 2018 and September 30, 2018 , respectively. Our allowance for doubtful accounts was $10 million and $8 million at December 31, 2018 and September 30, 2018 , respectively. Recent accounting developments Accounting guidance recently adopted Revenue recognition - In May 2014, the FASB issued new guidance regarding revenue recognition (ASU 2014-09). The new guidance is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. It also provides guidance on accounting for certain contract costs and requires additional disclosures. We adopted this guidance as of October 1, 2018, under a modified retrospective approach for all open contracts as of the date of initial adoption. As such, there was no impact on our prior period results. The primary impact of this guidance was the change in the presentation of certain costs from a net presentation within revenues to a gross presentation, particularly related to merger & acquisitions advisory and underwriting transactions and certain administrative costs related to our multi-bank sweep program. These presentation changes had no impact on our net earnings. There were no material changes in timing of revenues recognized associated with the adoption. As a result, adoption of this guidance had no material impact on our net results of operations or financial position. See Note 14 for further information. Financial instruments - In January 2016, the FASB issued new guidance related to the accounting for financial instruments (ASU 2016-01). Among its provisions, this new guidance generally requires equity investments to be measured at fair value with changes in fair value recognized in net income, subject to certain exceptions, and amends certain disclosure requirements associated with the fair value of financial instruments. We adopted this guidance as of October 1, 2018, under a modified retrospective approach. As a result, on a prospective basis beginning as of the date of adoption, we record changes in the fair value of our investments in equity securities that were previously classified as available-for-sale in net income. Previously, such unrealized gains/(losses) were reflected in other comprehensive income/(loss) (“OCI”). The impact of adopting the new guidance resulted in a reclassification from accumulated other comprehensive income/(loss) (“AOCI”) to retained earnings of an accumulated gain of approximately $4 million at October 1, 2018. See Note 4 for further information. Statement of Cash Flows (classification of certain cash receipts and cash payments) - In August 2016, the FASB issued amended guidance related to the Statement of Cash Flows (ASU 2016-15). The amended guidance provides guidance on disclosure and classification of certain items within the statements of cash flows. We adopted this guidance on October 1, 2018, under a retrospective approach. The adoption did not have a material impact on our consolidated statements of cash flows and did not have an impact on our financial position or results of operations. Statement of Cash Flows (restricted cash) - In November 2016, the FASB issued new guidance related to the classification and presentation of changes in restricted cash on the statement of cash flows (ASU 2016-18). The guidance requires an entity to include restricted cash and cash equivalents in its total of cash and cash equivalents on its statement of cash flows and to present a reconciliation of the beginning-of-period and end-of-period total of such amounts on the statement of cash flows. We adopted this guidance on October 1, 2018, under a retrospective approach. Upon adoption, we recorded a decrease of $96 million in net cash provided by operating activities for the three months ended December 31, 2017 related to reclassifying changes in cash segregated pursuant to regulations from operating activities to the cash and cash equivalents balance in the Condensed Consolidated Statements of Cash Flows. The total of cash segregated pursuant to regulations and cash and cash equivalents is included in a separate table in the Condensed Consolidated Statements of Cash Flows. The adoption did not have an impact on our financial position or results of operations. Definition of a business - In January 2017, the FASB issued amended guidance related to the definition of a business (ASU 2017-01). This amended guidance clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. We adopted this guidance on October 1, 2018, on a prospective basis. The impact of the adoption of this amended guidance is dependent upon acquisition and disposal activities subsequent to the date of adoption. The adoption did not have any impact on our financial position or results of operations. Share-based payment awards (modifications) - In May 2017, the FASB issued amended guidance that clarifies when changes to the terms or conditions of share-based payment awards require an entity to apply modification accounting (ASU 2017-09). The amended guidance states an entity should account for the effects of a modification unless certain criteria are met which include that the modified award has the same fair value, vesting conditions and classification as the original award. We adopted the guidance on October 1, 2018, on a prospective basis. We generally do not modify our share-based payments awards. The adoption did not have an impact on our financial position or results of operations. Share-based payment awards (nonemployee) - In June 2018, the FASB issued amended guidance that aligns the measurement and classification guidance for share-based payments to nonemployees with the guidance for share-based payments to employees, with certain exceptions (ASU 2018-07). The amended guidance states an entity should measure the fair value of the award by estimating the fair value of the equity instruments to be issued and, for equity-classified awards, the fair value should be measured on the grant date. The amended guidance also clarifies that nonemployee awards that contain a performance condition are to be measured based on the outcome that is probable and that entities may elect, on an award-by-award basis, to use the expected term or contractual term to measure the award. We early-adopted this standard on October 1, 2018, using a modified retrospective approach. The adoption did not have a significant impact on our financial position or results of operations. Accounting guidance not yet adopted as of December 31, 2018 Lease accounting - In February 2016, the FASB issued new guidance related to the accounting for leases (ASU 2016-02). The new guidance requires the recognition of assets and liabilities on the balance sheet related to the rights and obligations created by lease agreements with terms greater than twelve months, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement and presentation of expenses and cash flows arising from a lease will primarily depend upon its classification as a finance or operating lease. The new guidance requires new disclosures to help financial statement users better understand the amount, timing and cash flows arising from leases. This new guidance, including subsequent amendments, is first effective for our fiscal year beginning on October 1, 2019. Although permitted, we do not plan to early adopt. Upon adoption, we will use a modified retrospective approach, with a cumulative effect adjustment to opening retained earnings. Our implementation efforts include reviewing existing leases and service contracts, which may include embedded leases. We are in the process of identifying changes to our business processes, systems and controls to support adoption of the new guidance. This new guidance will impact our financial position and results of operations. We are evaluating the magnitude of such impact. Credit losses - In June 2016, the FASB issued new guidance related to the measurement of credit losses on financial instruments (ASU 2016-13). The amended guidance involves several aspects of the accounting for credit losses related to certain financial instruments including assets measured at amortized cost, available-for-sale debt securities and certain off-balance sheet commitments. The new guidance broadens the information that an entity must consider in developing its estimated credit losses expected to occur over the remaining life of assets measured either collectively or individually to include historical experience, current conditions and reasonable and supportable forecasts, replacing the existing incurred credit loss model and other models with the Current Expected Credit Losses (“CECL”) model. The new guidance expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating credit losses and requires new disclosures of the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. This new guidance is first effective for our fiscal year beginning October 1, 2020 and will be adopted under a modified retrospective approach. Early adoption is permitted although not prior to our fiscal year beginning October 1, 2019. We have continued with our implementation and evaluation efforts, which include a cross-functional team to assess the required changes to our credit loss estimation methodologies and systems, as well as the determination of additional data and resources required to comply with the new guidance. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations, which will depend on, among other things, the current and expected macroeconomic conditions and the nature and characteristics of financial assets held by us on the date of adoption. Goodwill - In January 2017, the FASB issued amended guidance to simplify the subsequent measurement of goodwill, eliminating “Step 2” from the goodwill impairment test (ASU 2017-04). In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under this amended guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and subsequently recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This guidance is first effective for our fiscal year beginning October 1, 2019 and will be adopted on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We early-adopted this guidance on January 1, 2019, our goodwill impairment test date. Callable debt securities - In March 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date instead of the contractual life of the security (ASU 2017-08). Discounts on callable debt securities will continue to be amortized to the contractual maturity date. This guidance is first effective for our fiscal year beginning on October 1, 2019 and will be adopted using a modified retrospective approach. Although permitted, we do not plan to early adopt. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations. Internal use software (cloud computing) - In August 2018, the FASB issued guidance on the accounting for implementation costs incurred by customers in cloud computing arrangements (ASU 2018-15). This guidance requires implementation costs incurred by customers in cloud computing arrangements to be deferred over the non-cancellable term of the cloud computing arrangements plus any optional renewal periods (1) that are reasonably certain to be exercised by the customer or (2) for which exercise of the renewal option is controlled by the cloud service provider. This amended guidance is first effective for our fiscal year beginning on October 1, 2020 with early adoption permitted. The guidance may be adopted either using the prospective or retrospective approach. We are currently evaluating the impact of this new guidance on our financial position and results of operations. Derivatives and hedging (interest rate) - In October 2018, the FASB issued guidance amending Derivatives and Hedging (Topic 815) to add the overnight index swap (OIS rate) rate based on the Secured Overnight Financing Rate (SOFR) to the list of US benchmark interest rates that are eligible to be hedged (ASU 2018-16). This guidance is first effective for our fiscal year beginning on October 1, 2019. Early adoption is permitted. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations. Consolidation (decision making fees) - In October 2018, the FASB issued guidance on how all entities evaluate decision-making fees under the variable interest entity guidance (ASU 2018-17). Under the new guidance, to determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportionate basis, rather than in their entirety. This guidance is first effective for our fiscal year beginning on October 1, 2020. Early adoption is permitted. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations.

FAIR VALUE

FAIR VALUE	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Our “Financial instruments owned” and “Financial instruments sold but not yet purchased” on our Condensed Consolidated Statements of Financial Condition are recorded at fair value under GAAP. For further information about such instruments and our significant accounting policies related to fair value, see Note 2 and Note 4 of our 2018 Form 10-K. The following tables present assets and liabilities measured at fair value on a recurring and nonrecurring basis. Netting adjustments represent the impact of counterparty and collateral netting on our derivative balances included on our Condensed Consolidated Statements of Financial Condition. See Note 5 for additional information. Bank loans held for sale measured at fair value on a nonrecurring basis are recorded at a fair value lower than cost. $ in millions Level 1 Level 2 Level 3 Netting adjustments Balance as of Assets at fair value on a recurring basis: Trading instruments Municipal and provincial obligations $ — $ 163 $ — $ — $ 163 Corporate obligations 10 76 — — 86 Government and agency obligations 11 78 — — 89 Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”) 2 226 — — 228 Non-agency CMOs and asset-backed securities (“ABS”) — 101 — — 101 Total debt securities 23 644 — — 667 Equity securities 14 — — — 14 Brokered certificates of deposit — 5 — — 5 Other — 2 3 — 5 Total trading instruments 37 651 3 — 691 Available-for-sale securities — 2,797 — — 2,797 Derivative assets Interest rate contracts - Matched book — 188 — — 188 Interest rate contracts - Other — 64 — (39 ) 25 Total derivative assets — 252 — (39 ) 213 Private equity investments - not measured at net asset value (“NAV”) — — 59 — 59 Other investments 190 2 67 — 259 Subtotal 227 3,702 129 (39 ) 4,019 Private equity investments - measured at NAV 95 Total assets at fair value on a recurring basis $ 227 $ 3,702 $ 129 $ (39 ) $ 4,114 Assets at fair value on a nonrecurring basis: Bank loans, net - Impaired loans $ — $ 8 $ 37 $ — $ 45 Bank loans, net - Loans held for sale — 49 — — 49 Total assets at fair value on a nonrecurring basis $ — $ 57 $ 37 $ — $ 94 Liabilities at fair value on a recurring basis: Trading instruments sold but not yet purchased Corporate obligations $ 2 $ 31 $ — $ — $ 33 Government obligations 235 — — — 235 Agency MBS and CMOs 3 — — — 3 Total debt securities 240 31 — — 271 Equity securities 4 — — — 4 Other — — 4 — 4 Total trading instruments sold but not yet purchased 244 31 4 — 279 Derivative liabilities Interest rate contracts - Matched book — 188 — — 188 Interest rate contracts - Other — 85 — (54 ) 31 Foreign exchange contracts — 2 — — 2 Deutsche Bank restricted stock unit (“DBRSU”) obligation (equity) — 11 — — 11 Total derivative liabilities — 286 — (54 ) 232 Total liabilities at fair value on a recurring basis $ 244 $ 317 $ 4 $ (54 ) $ 511 $ in millions Level 1 Level 2 Level 3 Netting Balance as of Assets at fair value on a recurring basis: Trading instruments Municipal and provincial obligations $ 1 $ 247 $ — $ — $ 248 Corporate obligations 10 100 — — 110 Government and agency obligations 19 72 — — 91 Agency MBS and CMOs 3 124 — — 127 Non-agency CMOs and ABS — 69 — — 69 Total debt securities 33 612 — — 645 Equity securities 15 — — — 15 Brokered certificates of deposit — 39 — — 39 Other — 2 1 — 3 Total trading instruments 48 653 1 — 702 Available-for-sale securities Agency MBS and CMOs — 2,628 — — 2,628 Other securities 1 — — — 1 Auction rate securities (“ARS”) preferred — — 67 — 67 Total available-for-sale securities 1 2,628 67 — 2,696 Derivative assets Interest rate contracts - Matched book — 160 — — 160 Interest rate contracts - Other — 74 — (55 ) 19 Foreign exchange contracts — 1 — — 1 Total derivative assets — 235 — (55 ) 180 Private equity investments - not measured at NAV — — 56 — 56 Other investments 201 1 — — 202 Subtotal 250 3,517 124 (55 ) 3,836 Private equity investments measured at NAV 91 Total assets at fair value on a recurring basis $ 250 $ 3,517 $ 124 $ (55 ) $ 3,927 Assets at fair value on a nonrecurring basis: Bank loans, net - Impaired loans $ — $ 10 $ 18 $ — $ 28 Bank loans, net - Loans held for sale — 41 — — 41 Total assets at fair value on a nonrecurring basis $ — $ 51 $ 18 $ — $ 69 Liabilities at fair value on a recurring basis Trading instruments sold but not yet purchased Municipal and provincial obligations $ — $ 1 $ — $ — $ 1 Corporate obligations 2 25 — — 27 Government obligations 194 — — — 194 Non-agency MBS and CMOs — 1 — — 1 Total debt securities 196 27 — — 223 Equity securities 5 — — — 5 Other — — 7 — 7 Total trading instruments sold but not yet purchased 201 27 7 — 235 Derivative liabilities Interest rate contracts - Matched book — 160 — — 160 Interest rate contracts - Other — 114 — (47 ) 67 Foreign exchange contracts — 4 — — 4 DBRSU obligation (equity) — 16 — — 16 Total derivative liabilities — 294 — (47 ) 247 Total liabilities at fair value on a recurring basis $ 201 $ 321 $ 7 $ (47 ) $ 482 Level 3 recurring fair value measurements The following tables present the changes in fair value for Level 3 assets and liabilities measured at fair value on a recurring basis. The realized and unrealized gains and losses in the tables may include changes in fair value that were attributable to both observable and unobservable inputs. In the following tables, gains/(losses) on trading instruments are reported in “Net trading profit,” gains/(losses) on private equity and other investments are reported in “Other” revenues, and gains/(losses) on available-for-sale securities are reported in either “Other” revenues (when included in earnings) or “Other comprehensive income” in our Condensed Consolidated Statements of Income and Comprehensive Income. Three months ended December 31, 2018 Level 3 instruments at fair value Financial assets Financial liabilities Trading instruments Private equity and other investments Trading instruments $ in millions Other Private equity investments Other investments (1) Other Fair value beginning of period $ 1 $ 56 $ 67 $ (7 ) Total gains/(losses) for the period: Included in earnings 1 — — 2 Purchases and contributions 38 3 — 5 Sales (37 ) — — (4 ) Transfers: Into Level 3 — — — — Out of Level 3 — — — — Fair value end of period $ 3 $ 59 $ 67 $ (4 ) Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period $ 1 $ — $ — $ — (1) Beginning of period balance includes $67 million of preferred ARS, which were reclassified from available-for-sale securities in connection with adoption of ASU 2016-01. See Note 2 for additional information. Three months ended December 31, 2017 Level 3 instruments at fair value Financial assets Financial liabilities Trading instruments Available-for-sale securities Private equity and other investments Trading instruments $ in millions Other ARS - preferred Private equity investments Other Fair value beginning of period $ 6 $ 106 $ 89 $ — Total gains/(losses) for the period: Included in earnings (1 ) — — (1 ) Included in other comprehensive income — 1 — — Purchases and contributions 20 — — — Sales (22 ) — — — Transfers: Into Level 3 — — — — Out of Level 3 — — — — Fair value end of period $ 3 $ 107 $ 89 $ (1 ) Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ (1 ) Unrealized gains/(losses) for the period included in other comprehensive income for instruments held at the end of the reporting period $ — $ 1 $ — $ — As of December 31, 2018 , 11% of our assets and 2% of our liabilities were measured at fair value on a recurring basis. In comparison as of September 30, 2018 , 10% of our assets and 2% of our liabilities were measured at fair value on a recurring basis. Instruments measured at fair value on a recurring basis categorized as Level 3 represented 3% of our assets measured at fair value as of both December 31, 2018 and September 30, 2018 . Quantitative information about level 3 fair value measurements The following tables present the valuation techniques and significant unobservable inputs used in the valuation of a significant majority of our financial instruments classified as level 3. These inputs represent those that a market participant would take into account when pricing these instruments. Weighted averages are calculated by weighting each input by the relative fair values of the related financial instrument. Level 3 financial instrument $ in millions Fair value at December 31, 2018 Valuation technique(s) Unobservable input Range (weighted-average) Recurring measurements Other investments - ARS preferred $ 67 Discounted cash flow Average discount rate 6.14% - 7.76% (6.86%) Average interest rates applicable to future interest income on the securities (1) 3.54% - 4.71% (3.83%) Prepayment year (2) 2019 - 2021 (2021) Private equity investments (not measured at NAV) $ 46 Income approach - discounted cash flow Discount rate 25 % Terminal EBITDA multiple 10.0x Terminal year 2022 - 2042 (2023) $ 13 Transaction price or other investment-specific events (3) Not meaningful (3) Not meaningful (3) Nonrecurring measurements Bank loans: impaired loans - residential $ 16 Discounted cash flow Prepayment rate 7 yrs. - 12 yrs. (10.5 yrs.) Bank loans: impaired loans - corporate $ 21 Collateral or discounted cash flow value (4) Not meaningful (4) Not meaningful (4) Level 3 financial instrument $ in millions Fair value at September 30, 2018 Valuation technique(s) Unobservable input Range (weighted-average) Recurring measurements ARS preferred $ 67 Discounted cash flow Average discount rate 6.50% - 7.85% (7.13%) Average interest rates applicable to future interest income on the securities (1) 4.13% - 5.51% (4.47%) Prepayment year (2) 2018 - 2021 (2021) Private equity investments (not measured at NAV) $ 43 Income approach - discounted cash flow Discount rate 25 % Terminal EBITDA multiple 10.0x Terminal year 2022 - 2042 (2023) $ 13 Transaction price or other investment-specific events (3) Not meaningful (3) Not meaningful (3) Nonrecurring measurements Bank loans: impaired loans - residential $ 17 Discounted cash flow Prepayment rate 7 yrs. - 12 yrs. (10.5 yrs.) Bank loans: impaired loans - corporate $ 2 Collateral or discounted cash flow value (4) Not meaningful (4) Not meaningful (4) (1) Interest rates are projected based upon a forward interest rate path, plus a spread over such projected base rate that is applicable to each future period for each security within this portfolio segment. The interest rates presented represent the average interest rate over all projected periods for securities within the portfolio segment. (2) Assumed calendar year of at least a partial redemption of the outstanding security by the issuer. (3) Certain investments are valued initially at transaction price and updated as other investment-specific events take place which indicate that a change in the carrying values of these investments is appropriate. Other investment-specific events include such events as our periodic review, significant transactions occur, new developments become known, or we receive information from a fund manager which allows us to update our proportionate share of net assets. (4) The valuation techniques used for the impaired corporate loan portfolio are appraisals or collateral value less selling costs for the collateral dependent loans and discounted cash flows for impaired loans that are not collateral dependent. Qualitative disclosure about unobservable inputs For our recurring fair value measurements categorized within Level 3 of the fair value hierarchy, the sensitivity of the fair value measurement to changes in significant unobservable inputs and interrelationships between those unobservable inputs are described in the following sections. Other investments - ARS preferred The future interest rate and prepayment assumptions impacting the valuation of the auction rate securities are directly related. As short-term interest rates rise, the penalty interest rates, which are embedded in most of these securities in the event auctions fail to set the security’s interest rate, also increase. As penalty interest rates rise, we estimate that issuers of the securities will have the economic incentive to refinance (and thus prepay) the securities. As such, increases in the interest rate, which would generally result in an earlier prepayment assumption, would have increased the fair value of the security. Increases in the discount rate would have resulted in a lower fair value of the securities. Private equity investments The significant unobservable inputs used in the fair value measurement of private equity investments generally relate to the financial performance of the investment entity and the market’s required return on investments from entities in industries in which we hold investments. Increases in the discount rate and/or a later terminal year would have resulted in a lower fair value measurement. Increases in the terminal EBITDA multiple would have resulted in a higher fair value measurement. Investments in private equity measured at net asset value per share As more fully described in Note 2 of our 2018 Form 10-K, as a practical expedient, we utilize NAV or its equivalent to determine the recorded value of a portion of our private equity investments portfolio. We utilize NAV when the fund investment does not have a readily determinable fair value and the NAV of the fund is calculated in a manner consistent with the measurement principles of investment company accounting, including measurement of the investments at fair value. Our private equity portfolio as of December 31, 2018 included various direct investments, as well as investments in third-party private equity funds and various private equity funds which we sponsor. The portfolio is primarily invested in a broad range of industries including leveraged buyouts, growth capital, distressed capital, venture capital and mezzanine capital. Due to the closed-end nature of certain of our fund investments, such investments cannot be redeemed directly with the funds. Our investment is monetized by distributions received through the liquidation of the underlying assets of those funds, the timing of which is uncertain. The following table presents the recorded value and unfunded commitments related to our private equity investments portfolio. $ in millions Recorded value Unfunded commitment December 31, 2018 Private equity investments measured at NAV $ 95 $ 18 Private equity investments not measured at NAV 59 Total private equity investments $ 154 September 30, 2018 Private equity investments measured at NAV $ 91 $ 18 Private equity investments not measured at NAV 56 Total private equity investments $ 147 Of the total private equity investments, the portions we owned were $108 million and $ 103 million as of December 31, 2018 and September 30, 2018 , respectively. The portions of the private equity investments we did not own were $46 million and $44 million as of December 31, 2018 and September 30, 2018 , respectively, and were included as a component of noncontrolling interests on our Condensed Consolidated Statements of Financial Condition. Many of these fund investments meet the definition of prohibited covered funds as defined by the Volcker Rule enacted pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”). We have received approval from the Board of Governors of the Federal Reserve System (the “Fed”) to continue to hold the majority of our covered fund investments until July 2022. However, our current focus is on the divestiture of this portfolio. Financial instruments not measured at fair value The following table presents the estimated fair value and fair value hierarchy of financial assets and liabilities that are not recorded at fair value on the Condensed Consolidated Statements of Financial Condition. This table excludes financial instruments that are carried at amounts which approximate fair value. Refer to Note 4 of our 2018 Form 10-K for discussion of the fair value hierarchy classification of our financial instruments that are not recorded at fair value. Effective October 1, 2018, we adopted new accounting guidance (ASU 2016-01), which requires the fair value of financial instruments not carried at fair value on our statement of financial condition to be estimated utilizing an exit price and eliminates certain disclosure requirements related to these instruments, including exempting certain financial instruments from disclosure (e.g., demand deposits). Prior periods have not been updated to reflect this new accounting guidance. $ in millions Level 1 Level 2 Level 3 Total estimated fair value Carrying amount December 31, 2018 Financial assets: Bank loans, net $ — $ 61 $ 19,578 $ 19,639 $ 19,793 Financial liabilities: Bank deposits - Certificates of deposit $ — $ — $ 489 $ 489 $ 490 Senior notes payable $ — $ 1,512 $ — $ 1,512 $ 1,550 September 30, 2018 Financial assets: Bank loans, net $ — $ 124 $ 19,116 $ 19,240 $ 19,449 Financial liabilities: Bank deposits $ — $ 19,496 $ 439 $ 19,935 $ 19,942 Senior notes payable $ — $ 1,558 $ — $ 1,558 $ 1,550

AVAILABLE-FOR-SALE SECURITIES

AVAILABLE-FOR-SALE SECURITIES	3 Months Ended
	Dec. 31, 2018
Debt Securities, Available-for-sale [Abstract]
AVAILABLE-FOR-SALE SECURITIES	AVAILABLE-FOR-SALE SECURITIES Available-for-sale securities are comprised of agency MBS and CMOs owned by Raymond James Bank, N.A. (“RJ Bank”). Refer to the discussion of our available-for-sale securities accounting policies, including the fair value determination process, in Note 2 of our 2018 Form 10-K. As of October 1, 2018, we adopted new accounting guidance related to the classification and measurement of financial instruments (ASU 2016-01), which requires changes in the fair value of equity securities to be recorded in net income. See Note 2 for further information. As a result, on a prospective basis beginning October 1, 2018, unrealized gains/(losses) on our equity securities previously classified and accounted for as available-for-sale are recorded in net income instead of OCI. Accordingly, we reclassified approximately $68 million , substantially all of which consisted of preferred ARS, from “Available-for-sale securities” to “Other investments” on our Condensed Consolidated Statements of Financial Condition. The following table details the amortized cost and fair values of our available-for-sale securities. $ in millions Cost basis Gross unrealized gains Gross unrealized losses Fair value December 31, 2018 Agency MBS and CMOs $ 2,834 $ 4 $ (41 ) $ 2,797 September 30, 2018 Agency MBS and CMOs $ 2,698 $ — $ (70 ) $ 2,628 Other securities 2 — (1 ) 1 Total RJ Bank available-for-sale securities 2,700 — (71 ) 2,629 ARS preferred 61 6 — 67 Total available-for-sale securities $ 2,761 $ 6 $ (71 ) $ 2,696 See Note 3 for additional information regarding the fair value of available-for-sale securities. The following table details the contractual maturities, amortized cost, carrying values and current yields for our available-for-sale securities. Since RJ Bank’s MBS and CMO available-for-sale securities are backed by mortgages, actual maturities may differ from contractual maturities because borrowers may have the right to prepay obligations without prepayment penalties. December 31, 2018 $ in millions Within one year After one but within five years After five but within ten years After ten years Total Agency MBS and CMOs: Amortized cost $ — $ 254 $ 986 $ 1,594 $ 2,834 Carrying value $ — $ 251 $ 975 $ 1,571 $ 2,797 Weighted-average yield — 2.32 % 2.39 % 2.49 % 2.44 % The following table details the gross unrealized losses and fair value of securities that were in a loss position at the reporting period end, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position. Less than 12 months 12 months or more Total $ in millions Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses December 31, 2018 Agency MBS and CMOs $ 348 $ (2 ) $ 1,829 $ (39 ) $ 2,177 $ (41 ) September 30, 2018 Agency MBS and CMOs $ 1,103 $ (20 ) $ 1,425 $ (50 ) $ 2,528 $ (70 ) Other securities — — 1 (1 ) 1 (1 ) Total $ 1,103 $ (20 ) $ 1,426 $ (51 ) $ 2,529 $ (71 ) U.S. government agencies guarantee the contractual cash flows of the agency MBS and CMOs. At December 31, 2018 , of the 226 agency MBS and CMOs in an unrealized loss position, 27 were in a continuous unrealized loss position for less than 12 months and 199 were for 12 months or more. We do not consider these securities to be other-than-temporarily impaired due to the guarantee of the full payment of principal and interest, and the fact that we have the ability and intent to hold these securities. At December 31, 2018 , debt securities we held in excess of ten percent of our equity included Federal National Home Mortgage Association (“ FNMA ”) and Federal Home Loan Mortgage Corporation (“ FHLMC ”) which had an amortized cost of $1.86 billion and $738 million , respectively, and a fair value of $1.84 billion and $728 million , respectively. During each of the three months ended December 31, 2018 and 2017 , there were no sales of agency MBS or CMO available-for-sale securities.

DERIVATIVE ASSETS AND DERIVATIV

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES	3 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES	DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES Our derivative assets and derivative liabilities are recorded at fair value and are included in “Derivative assets” and “Derivative liabilities” on our Condensed Consolidated Statements of Financial Condition. Cash flows related to our derivative contracts are included within operating activities in the Condensed Consolidated Statements of Cash Flows. The significant accounting policies governing our derivative financial instruments, including our methodologies for determining fair value, are described in Note 2 of our 2018 Form 10-K. Derivatives arising from our fixed income business operations We enter into interest rate contracts in our fixed income business to facilitate client transactions or to actively manage risk exposures that arise from our client activity, including a portion of our trading inventory. The majority of these derivatives are traded in the over-the-counter market and are executed directly with another counterparty or are cleared and settled through a clearing organization. We also facilitate matched book derivative transactions in which Raymond James Financial Products, Inc. (“RJFP”), a wholly owned subsidiary, enters into interest rate derivative transactions with clients. For every derivative transaction RJFP enters into with a client, it also enters into an offsetting derivative on terms that mirror the client transaction with a credit support provider, which is a third-party financial institution. Any collateral required to be exchanged under these derivative contracts is administered directly between the client and the third-party financial institution. Due to this pass-through transaction structure, RJFP has completely mitigated the market and credit risk on these derivative contracts. As a result, derivatives for which the fair value is in an asset position have an equal and offsetting derivative liability. RJFP only has credit risk on its uncollected derivative transaction fee revenues. The receivable for uncollected derivative transaction fee revenues of RJFP was insignificant at both December 31, 2018 and September 30, 2018 . Derivatives arising from RJ Bank’s business operations We enter into forward foreign exchange contracts and interest rate swaps to hedge certain exposures arising out of RJ Bank’s business operations. Each of these activities is described in Note 2 of our 2018 Form 10-K and in the following paragraphs. We enter into three-month forward foreign exchange contracts primarily to hedge the risks related to RJ Bank’s investment in its Canadian subsidiary, as well as their risk resulting from transactions denominated in currencies other than the U.S. dollar. The majority of these derivatives are designated as net investment hedges. The cash flows associated with certain assets held by RJ Bank provide interest income at fixed interest rates. Therefore, the value of these assets, absent any risk mitigation, is subject to fluctuation based upon changes in market rates of interest over time. RJ Bank enters into floating-rate advances from the Federal Home Loan Bank (“FHLB”) to, in part, fund these assets and then enters into interest rate swaps which swap variable interest payments on this debt for fixed interest payments. These interest rate swaps are designated as cash flow hedges and effectively fix RJ Bank’s cost of funds associated with these assets to mitigate a portion of the market risk. Derivative arising from our acquisition of Alex. Brown As part of our acquisition of Alex. Brown (see Note 3 of our 2018 Form 10-K for additional information regarding the acquisition), we assumed certain DBRSU awards, which will ultimately be settled in Deutsche Bank AG (“DB”) common shares, provided certain performance metrics are achieved. The DBRSU obligation results in a derivative, the fair value and notional of which is measured by multiplying the number of outstanding DBRSU awards to be settled in DB common shares as of the end of the reporting period by the end of reporting period DB share price, as traded on the New York Stock Exchange. Counterparty netting and collateral related to derivative contracts To reduce credit exposure on certain of our derivative transactions, we may enter into a master netting arrangement that allows for net settlement of all derivative transactions with each counterparty. In addition, the credit support annex allows parties to the master netting agreement to mitigate their credit risk by requiring the party which is out of the money to post collateral. We accept collateral in the form of cash or other marketable securities. Where permitted, we elect to net-by-counterparty certain derivative contracts entered into under a legally enforceable master netting agreement and, therefore, the fair value of those derivative contracts are netted by counterparty on the Condensed Consolidated Statements of Financial Condition. As we elect to net-by-counterparty the fair value of such derivative contracts, we also net-by-counterparty cash collateral exchanged as part of those derivative agreements. We may also require certain counterparties to make a deposit at the inception of a derivative agreement, referred to as “initial margin.” This initial margin is included in “Other payables” on our Condensed Consolidated Statements of Financial Condition. We are also required to maintain deposits with the clearing organizations we utilize to clear certain of our interest rate derivative transactions. This initial margin is included as a component of “Other investments” or “Available-for-sale securities” on our Condensed Consolidated Statements of Financial Condition. On a daily basis, we also pay cash to or receive cash from these clearing organizations due to changes in the fair value of the derivatives which they clear. Such payments are referred to as “variation margin” and are considered to be settlement of the related derivatives. Due to the short-term nature of forward foreign exchange contracts, RJ Bank is generally not required to post collateral with and does not generally receive collateral from its respective counterparties. Derivative balances included in our financial statements The following table presents the gross fair value and notional amount of derivative contracts 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. December 31, 2018 September 30, 2018 $ in millions Derivative assets Derivative liabilities Notional amount Derivative assets Derivative liabilities Notional amount Derivatives not designated as hedging instruments Interest rate contracts: Matched book $ 188 $ 188 $ 2,401 $ 160 $ 160 $ 2,416 Other (1) 64 83 6,190 74 113 6,155 Foreign exchange contracts — 1 517 1 1 549 DBRSU obligation (equity) (2) — 11 11 — 16 16 Subtotal 252 283 9,119 235 290 9,136 Derivatives designated as hedging instruments Interest rate contracts — 2 850 — 1 850 Foreign exchange contracts — 1 813 — 3 892 Subtotal — 3 1,663 — 4 1,742 Total gross fair value/notional amount 252 286 $ 10,782 235 294 $ 10,878 Offset on the Condensed Consolidated Statements of Financial Condition Counterparty netting (19 ) (19 ) (26 ) (26 ) Cash collateral netting (20 ) (35 ) (29 ) (21 ) Total amounts offset (39 ) (54 ) (55 ) (47 ) Net amounts presented on the Condensed Consolidated Statements of Financial Condition 213 232 180 247 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition Financial instruments (3) (191 ) (188 ) (162 ) (160 ) Total $ 22 $ 44 $ 18 $ 87 (1) Substantially all relates to interest rate derivatives entered into as part of our fixed income business operations. (2) The DBRSU obligation is not subject to an enforceable master netting arrangement or other similar arrangement. However, we held shares of DB as an economic hedge against this obligation with a fair value of $9 million and $12 million as of December 31, 2018 and September 30, 2018 , respectively, which are a component of “Other investments” on our Condensed Consolidated Statements of Financial Condition. (3) Although the matched book derivative arrangements do not meet the definition of a master netting arrangement as specified by GAAP, the agreement with the third-party intermediary includes terms that are similar to a master netting agreement. As a result, we present the matched book amounts net in the preceding table. The following table details the gains/(losses) included in AOCI, net of income taxes, on derivatives designated as hedging instruments. These gains/(losses) include any amounts reclassified from AOCI to income during the period. See Note 13 for additional information. Three months ended December 31, $ in millions 2018 2017 Interest rate contracts (cash flow hedges) $ (17 ) $ 7 Foreign exchange contracts (net investment hedges) 37 6 Total gains/(losses) recognized in AOCI, net of taxes $ 20 $ 13 There were no components of derivative gains or losses excluded from the assessment of hedge effectiveness for each of the three months ended December 31, 2018 and 2017 . We expect to reclassify an estimated $6 million of interest income out of AOCI and into earnings within the next 12 months . The maximum length of time over which forecasted transactions are or will be hedged is 9 years . The following table details the gains/(losses) on derivatives not designated as hedging instruments recognized in the Condensed Consolidated Statements of Income and Comprehensive Income. $ in millions Location of gain/(loss) included in the Condensed Consolidated Statements of Income and Comprehensive Income Gain/(loss) recognized during the three months ended December 31, 2018 2017 Interest rate contracts Principal transactions/other revenues $ 2 $ 2 Foreign exchange contracts Other revenues $ 26 $ (1 ) DBRSU obligation (equity) Compensation, commissions and benefits expense $ 5 $ (3 ) Risks associated with, and our risk mitigation related to, our derivative contracts Credit risk We are exposed to credit losses in the event of nonperformance by the counterparties to forward foreign exchange derivative agreements and interest rate contracts that are not cleared through a clearing organization. Where we are subject to credit exposure, we perform a credit evaluation of counterparties prior to entering into derivative transactions and we monitor their credit standings. Currently, we anticipate that all of the counterparties will be able to fully satisfy their obligations under those agreements. We may require initial margin or collateral from counterparties in the form of cash deposits or other marketable securities to support certain of these obligations as established by the credit threshold specified by the agreement and/or as a result of monitoring the credit standing of the counterparties. Our only exposure to credit risk in the matched book derivatives operations is related to our uncollected derivative transaction fee revenues. We are not exposed to market risk as it relates to these derivative contracts due to the pass-through transaction structure previously described. Interest rate and foreign exchange risk We are exposed to interest rate risk related to certain of our interest rate derivative agreements. We are also exposed to foreign exchange risk related to our forward foreign exchange derivative agreements. On a daily basis, we monitor our risk exposure in our derivative agreements based on established limits with respect to a number of factors, including interest rate, foreign exchange spot and forward rates, spread, ratio, basis and volatility risks. These exposures are monitored both on a total portfolio basis and separately for each agreement for selected maturity periods. Derivatives with credit-risk-related contingent features Certain of our derivative contracts contain provisions that require our debt to maintain an investment-grade rating from one or more of the major credit rating agencies. If our debt were to fall below investment-grade, the counterparties to the derivative instruments could terminate and request immediate payment or demand immediate and ongoing overnight collateralization on our derivative instruments in liability positions. The aggregate fair value of all derivative instruments with such credit-risk-related contingent features that were in a liability position was insignificant as of December 31, 2018 and September 30, 2018 .

COLLATERALIZED AGREEMENTS AND F

COLLATERALIZED AGREEMENTS AND FINANCINGS	3 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
COLLATERALIZED AGREEMENTS AND FINANCINGS	COLLATERALIZED AGREEMENTS AND FINANCINGS Collateralized agreements are securities purchased under agreements to resell (“reverse repurchase agreements”) and securities borrowed. Collateralized financings are securities sold under agreements to repurchase (“repurchase agreements”) and securities loaned. We enter into these transactions in order to facilitate client activities, invest excess cash, acquire securities to cover short positions and finance certain firm activities. The significant accounting policies governing our collateralized agreements and financings are described in Note 2 of our 2018 Form 10-K. For financial statement purposes, we do not offset our reverse repurchase agreements, repurchase agreements, securities borrowing and securities lending transactions because the conditions for netting as specified by GAAP are not met. Our reverse repurchase agreements, repurchase agreements, securities borrowing and securities lending transactions are governed by master agreements that are widely used by counterparties and that may allow for net settlements of payments in the normal course, as well as offsetting of all contracts with a given counterparty in the event of bankruptcy or default of one of the parties to the transaction. Although not offset on the Condensed Consolidated Statements of Financial Condition, these transactions are included in the following table. Assets Liabilities $ in millions Reverse repurchase agreements Securities borrowed Repurchase agreements Securities loaned December 31, 2018 Gross amounts of recognized assets/liabilities $ 399 $ 140 $ 156 $ 330 Gross amounts offset on the Condensed Consolidated Statements of Financial Condition — — — — Net amounts presented on the Condensed Consolidated Statements of Financial Condition 399 140 156 330 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition (399 ) (136 ) (156 ) (321 ) Net amounts $ — $ 4 $ — $ 9 September 30, 2018 Gross amounts of recognized assets/liabilities $ 373 $ 255 $ 186 $ 423 Gross amounts offset on the Condensed Consolidated Statements of Financial Condition — — — — Net amounts presented on the Condensed Consolidated Statements of Financial Condition 373 255 186 423 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition (373 ) (248 ) (186 ) (408 ) Net amounts $ — $ 7 $ — $ 15 The required market value of the collateral associated with collateralized agreements and financings generally exceeds the amount financed. Accordingly, the total collateral received under reverse repurchase agreements and the total amount of collateral posted under repurchase agreements exceeds the carrying value of these agreements on our Condensed Consolidated Statements of Financial Condition. In the event the market value of the securities we pledge as collateral in these activities declines, we may have to post additional collateral or reduce the borrowing amounts. We monitor such levels daily. Collateral received and pledged We receive cash and securities as collateral, primarily in connection with reverse repurchase agreements, securities borrowed, derivative transactions and client margin loans. The collateral we receive reduces our credit exposure to individual counterparties. In many cases, we are permitted to deliver or repledge financial instruments we have received as collateral in our repurchase agreements, securities lending agreements, other secured borrowings, satisfaction of deposit requirements with clearing organizations, or otherwise meeting either our or our clients’ settlement requirements. The following table presents financial instruments at fair value that we received as collateral, were not included on our Condensed Consolidated Statements of Financial Condition, and that were available to be delivered or repledged, along with the balances of such instruments that were delivered or repledged, to satisfy one of our purposes previously described. $ in millions December 31, September 30, Collateral we received that was available to be delivered or repledged $ 3,051 $ 3,165 Collateral that we delivered or repledged $ 1,303 $ 1,389 Encumbered assets We pledge certain of our financial instruments to collateralize either repurchase agreements or other secured borrowings, maintain lines of credit, or to satisfy our collateral or settlement requirements with counterparties or clearing organizations who may or may not have the right to deliver or repledge such instruments. The following table presents information about the fair value of our assets that have been pledged for one of the purposes previously described. $ in millions December 31, September 30, Financial instruments owned, at fair value, pledged to counterparties that: Had the right to deliver or repledge $ 487 $ 510 Did not have the right to deliver or repledge $ 65 $ 65 Bank loans, net pledged at FHLB and the Federal Reserve Bank $ 4,402 $ 4,075 Repurchase agreements, repurchase-to-maturity transactions and securities loaned accounted for as secured borrowings The following table presents the remaining contractual maturity of repurchase agreements and securities lending transactions accounted for as secured borrowings. $ in millions Overnight and continuous Up to 30 days 30-90 days Greater than 90 days Total December 31, 2018 Repurchase agreements: Government and agency obligations $ 90 $ — $ — $ — $ 90 Agency MBS and CMOs 66 — — — 66 Total repurchase agreements 156 — — — 156 Securities loaned: Equity securities 330 — — — 330 Total $ 486 $ — $ — $ — $ 486 September 30, 2018 Repurchase agreements: Government and agency obligations $ 102 $ — $ — $ — $ 102 Agency MBS and CMOs 84 — — — 84 Total repurchase agreements 186 — — — 186 Securities loaned: Equity securities 423 — — — 423 Total $ 609 $ — $ — $ — $ 609 As of both December 31, 2018 and September 30, 2018 , we did not have any “repurchase-to-maturity” agreements, which are repurchase agreements where a security is transferred under an agreement to repurchase and the maturity date of the repurchase agreement matches the maturity date of the underlying security.

BANK LOANS, NET

BANK LOANS, NET	3 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
BANK LOANS, NET	BANK LOANS, NET Bank client receivables are comprised of loans originated or purchased by RJ Bank and include commercial and industrial (“C&I”) loans, tax-exempt loans, securities based loans (“SBL”), and commercial and residential real estate loans. These receivables are collateralized by first and, to a lesser extent, second mortgages on residential or other real property, other assets of the borrower, a pledge of revenue or are unsecured. See Note 2 of our 2018 Form 10-K for a discussion of accounting policies related to bank loans and allowances for losses. We segregate our loan portfolio into six loan portfolio segments: C&I, commercial real estate (“CRE”), CRE construction, tax-exempt, residential mortgage, and SBL. These portfolio segments also serve as the portfolio loan classes for purposes of credit analysis, except for residential mortgage loans which are further disaggregated into residential first mortgage and residential home equity classes. The following table presents the balances for both the held for sale and held for investment loan portfolios, as well as the associated percentage of each portfolio segment in RJ Bank’s total loan portfolio. “Loans held for sale, net” and “Total loans held for investment, net” in the following table are presented net of unearned income and deferred expenses, which include purchase premiums, purchase discounts and net deferred origination fees and costs. December 31, 2018 September 30, 2018 $ in millions Balance % Balance % Loans held for investment: C&I loans $ 8,041 40 % $ 7,786 40 % CRE construction loans 176 1 % 151 1 % CRE loans 3,436 17 % 3,624 18 % Tax-exempt loans 1,289 6 % 1,227 6 % Residential mortgage loans 3,912 19 % 3,757 19 % SBL 3,162 16 % 3,033 15 % Total loans held for investment 20,016 19,578 Net unearned income and deferred expenses (20 ) (21 ) Total loans held for investment, net 19,996 19,557 Loans held for sale, net 110 1 % 164 1 % Total loans held for sale and investment 20,106 100 % 19,721 100 % Allowance for loan losses (219 ) (203 ) Bank loans, net $ 19,887 $ 19,518 At December 31, 2018 , the FHLB had a blanket lien on RJ Bank’s residential mortgage loan portfolio as security for the repayment of certain borrowings. See Note 10 for more information regarding borrowings from the FHLB. Loans held for sale RJ Bank originated or purchased $792 million and $358 million of loans held for sale during the three months ended December 31, 2018 , and 2017 , respectively. Proceeds from the sale of these held for sale loans amounted to $257 million and $92 million during the three months ended December 31, 2018 and 2017 , respectively. Net gains resulting from such sales were insignificant during the three months ended December 31, 2018 and 2017 . Purchases and sales of loans held for investment The following table presents purchases and sales of any loans held for investment by portfolio segment. $ in millions C&I loans CRE loans Residential mortgage loans Total Three months ended December 31, 2018 Purchases $ 262 $ — $ 76 $ 338 Sales $ 135 $ — $ — $ 135 Three months ended December 31, 2017 Purchases $ 148 $ 20 $ 45 $ 213 Sales $ 31 $ — $ — $ 31 Sales in the preceding table represent the recorded investment of loans held for investment that were transferred to loans held for sale and subsequently sold to a third party during the respective period. As more fully described in Note 2 of our 2018 Form 10-K, corporate loan (C&I, CRE and CRE construction) sales generally occur as part of a loan workout situation. Aging analysis of loans held for investment The following table presents an analysis of the payment status of loans held for investment. Amounts in the table exclude any net unearned income and deferred expenses. $ in millions 30-89 days and accruing 90 days or more and accruing Total past due and accruing Nonaccrual Current and accruing Total loans held for investment December 31, 2018 C&I loans $ — $ — $ — $ 28 $ 8,013 $ 8,041 CRE construction loans — — — — 176 176 CRE loans — — — — 3,436 3,436 Tax-exempt loans — — — — 1,289 1,289 Residential mortgage loans: First mortgage loans 3 — 3 20 3,862 3,885 Home equity loans/lines — — — — 27 27 SBL — — — — 3,162 3,162 Total loans held for investment, net $ 3 $ — $ 3 $ 48 $ 19,965 $ 20,016 September 30, 2018 C&I loans $ — $ — $ — $ 2 $ 7,784 $ 7,786 CRE construction loans — — — — 151 151 CRE loans — — — — 3,624 3,624 Tax-exempt loans — — — — 1,227 1,227 Residential mortgage loans: First mortgage loans 1 — 1 23 3,707 3,731 Home equity loans/lines — — — — 26 26 SBL — — — — 3,033 3,033 Total loans held for investment, net $ 1 $ — $ 1 $ 25 $ 19,552 $ 19,578 The preceding table above includes $35 million and $11 million at December 31, 2018 and September 30, 2018 , respectively, of nonaccrual loans which were current pursuant to their contractual terms. Other real estate owned, included in “Other assets” on our Condensed Consolidated Statements of Financial Condition, was $4 million and $3 million at December 31, 2018 and September 30, 2018 , respectively. The recorded investment in mortgage loans secured by one-to-four family residential properties for which formal foreclosure proceedings were in process was $9 million and $12 million at December 31, 2018 and September 30, 2018 , respectively. Impaired loans and troubled debt restructurings The following table provides a summary of RJ Bank’s impaired loans. December 31, 2018 September 30, 2018 $ in millions Gross recorded investment Unpaid principal balance Allowance for losses Gross recorded investment Unpaid principal balance Allowance for losses Impaired loans with allowance for loan losses: C&I loans $ 26 $ 26 $ 7 $ — $ — $ — Residential - first mortgage loans 13 17 1 15 20 2 Total 39 43 8 15 20 2 Impaired loans without allowance for loan losses: C&I loans 2 2 — 2 2 — Residential - first mortgage loans 12 19 — 13 20 — Total 14 21 — 15 22 — Total impaired loans $ 53 $ 64 $ 8 $ 30 $ 42 $ 2 Impaired loan balances with allowances for loan losses have had reserves established based upon management’s analysis. There is no allowance required when the discounted cash flow, collateral value or market value of a loan equals or exceeds the carrying value. These are generally loans in process of foreclosure that have already been adjusted to fair value. The preceding table includes residential first mortgage TDR’s of $20 million and $21 million at December 31, 2018 and September 30, 2018 , respectively. The average balance of the total impaired loans was as follows. Three months ended December 31, $ in millions 2018 2017 Average impaired loan balance: C&I loans $ 10 $ 5 Residential - first mortgage loans 27 40 Total $ 37 $ 45 Credit quality indicators The credit quality of RJ Bank’s loan portfolio is summarized monthly by management using the standard asset classification system utilized by bank regulators for the SBL and residential mortgage loan portfolios and internal risk ratings, which correspond to the same standard asset classifications for the corporate loan portfolios. These classifications are divided into three groups: Not Classified (Pass), Special Mention, and Classified or Adverse Rating (Substandard, Doubtful and Loss). These terms are defined as follows: Pass – Loans which are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less costs to acquire and sell, of any underlying collateral in a timely manner. Special Mention – Loans which have potential weaknesses that deserve management’s close attention. These loans are not adversely classified and do not expose RJ Bank to sufficient risk to warrant an adverse classification. Substandard – Loans which are inadequately protected by the current sound worth and paying capacity of the obligor or by the collateral pledged, if any. Loans with this classification are characterized by the distinct possibility that RJ Bank will sustain some loss if the deficiencies are not corrected. Doubtful – Loans which have all the weaknesses inherent in loans classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently-known facts, conditions and values. Loss – Loans which are considered by management to be uncollectible and of such little value that their continuance on RJ Bank’s books as an asset, without establishment of a specific valuation allowance or charge-off, is not warranted. RJ Bank does not have any loan balances within this classification because, in accordance with its accounting policy, loans, or a portion thereof considered to be uncollectible, are charged-off prior to the assignment of this classification. The following table presents the credit quality of RJ Bank’s held for investment loan portfolio. $ in millions Pass Special mention Substandard Doubtful Total December 31, 2018 C&I loans $ 7,912 $ 70 $ 59 $ — $ 8,041 CRE construction loans 176 — — — 176 CRE loans 3,374 34 28 — 3,436 Tax-exempt loans 1,289 — — — 1,289 Residential mortgage loans: First mortgage loans 3,849 9 27 — 3,885 Home equity loans/lines 27 — — — 27 SBL 3,162 — — — 3,162 Total $ 19,789 $ 113 $ 114 $ — $ 20,016 September 30, 2018 C&I loans $ 7,679 $ 48 $ 59 $ — $ 7,786 CRE construction loans 140 11 — — 151 CRE loans 3,547 44 33 — 3,624 Tax-exempt loans 1,227 — — — 1,227 Residential mortgage loans: First mortgage loans 3,693 8 30 — 3,731 Home equity loans/lines 26 — — — 26 SBL 3,033 — — — 3,033 Total $ 19,345 $ 111 $ 122 $ — $ 19,578 Loans classified as special mention, substandard or doubtful are all considered to be “criticized” loans. Allowance for loan losses and reserve for unfunded lending commitments The following table presents changes in the allowance for loan losses of RJ Bank by portfolio segment. Loans held for investment $ in millions C&I loans CRE construction loans CRE loans Tax-exempt loans Residential mortgage loans SBL Total Three months ended December 31, 2018 Balance at beginning of period $ 123 $ 3 $ 47 $ 9 $ 17 $ 4 $ 203 Provision/(benefit) for loan losses 15 — (1 ) — 1 1 16 Net (charge-offs)/recoveries: Charge-offs — — — — — — — Recoveries — — — — 1 — 1 Net recoveries — — — — 1 — 1 Foreign exchange translation adjustment (1 ) — — — — — (1 ) Balance at end of period $ 137 $ 3 $ 46 $ 9 $ 19 $ 5 $ 219 Three months ended December 31, 2017 Balance at beginning of period $ 120 $ 1 $ 42 $ 6 $ 17 $ 4 $ 190 Provision/(benefit) for loan losses 2 1 (1 ) 1 (2 ) — 1 Net (charge-offs)/recoveries: Charge-offs (1 ) — — — — — (1 ) Recoveries — — — — 1 — 1 Net (charge-offs)/recoveries (1 ) — — — 1 — — Foreign exchange translation adjustment — — — — — — — Balance at end of period $ 121 $ 2 $ 41 $ 7 $ 16 $ 4 $ 191 The following table presents, by loan portfolio segment, RJ Bank’s recorded investment (excluding any net unearned income and deferred expenses) and the related allowance for loan losses. Loans held for investment Allowance for loan losses Recorded investment $ in millions Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2018 C&I loans $ 7 $ 130 $ 137 $ 28 $ 8,013 $ 8,041 CRE construction loans — 3 3 — 176 176 CRE loans — 46 46 — 3,436 3,436 Tax-exempt loans — 9 9 — 1,289 1,289 Residential mortgage loans 1 18 19 31 3,881 3,912 SBL — 5 5 — 3,162 3,162 Total $ 8 $ 211 $ 219 $ 59 $ 19,957 $ 20,016 September 30, 2018 C&I loans $ — $ 123 $ 123 $ 2 $ 7,784 $ 7,786 CRE construction loans — 3 3 — 151 151 CRE loans — 47 47 — 3,624 3,624 Tax-exempt loans — 9 9 — 1,227 1,227 Residential mortgage loans 2 15 17 35 3,722 3,757 SBL — 4 4 — 3,033 3,033 Total $ 2 $ 201 $ 203 $ 37 $ 19,541 $ 19,578 The reserve for unfunded lending commitments, which is included in “Other payables” on our Condensed Consolidated Statements of Financial Condition, was $10 million at both December 31, 2018 and September 30, 2018 .

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Dec. 31, 2018
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 2018 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 limited partnerships which are part of our private equity investments portfolio (“Private Equity Interests”), a Low-Income Housing Tax Credit fund (“LIHTC fund”) in which RJ Bank is an investor and an affiliate of Raymond James Tax Credit Funds, Inc. (“RJTCF”) is the managing member, a multi-investor LIHTC fund where RJTCF provides an investor member with a guaranteed return on their investment (“Guaranteed LIHTC Fund”), certain other LIHTC funds 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 December 31, 2018 Private Equity Interests $ 71 $ 6 LIHTC fund in which RJ Bank is an investor member 56 — Guaranteed LIHTC Fund 39 3 Other LIHTC funds 18 19 Restricted Stock Trust Fund 18 18 Total $ 202 $ 46 September 30, 2018 Private Equity Interests $ 67 $ 5 LIHTC fund in which RJ Bank is an investor member 53 — Guaranteed LIHTC Fund 40 3 Other LIHTC funds 18 18 Restricted Stock Trust Fund 14 14 Total $ 192 $ 40 See Note 12 of this Form 10-Q for additional information regarding the commitment related to the Guaranteed LIHTC Fund and Note 9 of our 2018 Form 10-K for information regarding the financing asset associated with this fund. The following table presents information about the carrying value of the assets, liabilities and equity of the VIEs which we consolidate and which are included on our Condensed Consolidated Statements of Financial Condition. The noncontrolling interests presented in this table represent the portion of these net assets which are not ours. $ in millions December 31, 2018 September 30, 2018 Assets: Cash, cash equivalents and cash segregated pursuant to regulations $ 15 $ 7 Intercompany and other receivables 2 1 Private equity investments 64 63 Investments in real estate partnerships held by consolidated variable interest entities 103 107 Trust fund investment in RJF common stock 18 14 Total assets $ 202 $ 192 Liabilities and equity: Other payables $ 30 $ 27 Intercompany payables 22 17 Total liabilities 52 44 RJF equity 74 70 Noncontrolling interests 76 78 Total equity 150 148 Total liabilities and equity $ 202 $ 192 The trust fund investment in RJF common stock in the preceding table is the Restricted Stock Trust Fund, which is included in “Treasury stock” on our Condensed Consolidated Statements of Financial Condition. VIEs where we hold a variable interest but are not the primary beneficiary As discussed in Note 2 of our 2018 Form 10-K, we have concluded that for certain VIE s we are not the primary beneficiary and therefore do not consolidate these VIE s. Such VIE s include certain Private Equity Interests, certain LIHTC funds, and other limited partnerships. Our risk of loss for these VIE s is limited to our investments in, advances to, and/or receivables due from these VIE s. 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. December 31, 2018 September 30, 2018 $ in millions Aggregate assets Aggregate liabilities Our risk of loss Aggregate assets Aggregate liabilities Our risk of loss Private Equity Interests $ 6,965 $ 153 $ 72 $ 6,908 $ 154 $ 68 LIHTC funds 5,860 2,040 36 5,692 1,912 93 Other 212 113 4 211 114 4 Total $ 13,037 $ 2,306 $ 112 $ 12,811 $ 2,180 $ 165

BANK DEPOSITS

BANK DEPOSITS	3 Months Ended
	Dec. 31, 2018
Deposits [Abstract]
BANK DEPOSITS	BANK DEPOSITS Bank deposits include savings and money market accounts, certificates of deposit with RJ Bank, Negotiable Order of Withdrawal (“NOW”) accounts and demand deposits. The following table presents a summary of bank deposits including the weighted-average rate, the calculation of which was based on the actual deposit balances at each respective period. December 31, 2018 September 30, 2018 $ in millions Balance Weighted-average rate Balance Weighted-average rate Savings and money market accounts $ 21,166 0.67 % $ 19,475 0.54 % Certificates of deposit 490 2.21 % 445 2.03 % NOW accounts 7 0.01 % 6 0.01 % Demand deposits (non-interest-bearing) 10 — 16 — Total bank deposits $ 21,673 0.70 % $ 19,942 0.57 % Total bank deposits in the preceding table exclude affiliate deposits of $236 million at December 31, 2018 and $279 million at September 30, 2018 . These affiliate deposits included $233 million at December 31, 2018 and $277 million at September 30, 2018 , held in a deposit account at RJ Bank on behalf of RJF. Savings and money market accounts in the preceding table consist primarily of deposits that are cash balances swept from the client investment accounts maintained at Raymond James & Associates, Inc. (“RJ&A”) to RJ Bank. These balances are held in Federal Deposit Insurance Corporation (“FDIC”) insured bank accounts through the Raymond James Bank Deposit Program (“RJBDP”). The aggregate amount of time deposit account balances that exceeded the FDIC insurance limit at December 31, 2018 was $25 million . The following table sets forth the scheduled maturities of certificates of deposit. December 31, 2018 September 30, 2018 $ in millions Denominations greater than or equal to $100,000 Denominations less than $100,000 Denominations greater than or equal to $100,000 Denominations less than $100,000 Three months or less $ 33 $ 19 $ 30 $ 17 Over three through six months 23 17 20 13 Over six through twelve months 40 31 38 26 Over one through two years 71 44 65 40 Over two through three years 14 11 21 14 Over three through four years 54 29 44 26 Over four through five years 70 34 63 28 Total $ 305 $ 185 $ 281 $ 164 Interest expense on deposits, excluding interest expense related to affiliate deposits, is summarized in the following table. Three months ended December 31, $ in millions 2018 2017 Savings, money market, and NOW accounts $ 33 $ 7 Certificates of deposit 2 1 Total interest expense on deposits $ 35 $ 8

OTHER BORROWINGS

OTHER BORROWINGS	3 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
OTHER BORROWINGS	OTHER BORROWINGS The following table details the components of other borrowings. $ in millions December 31, 2018 September 30, 2018 FHLB advances $ 875 $ 875 RJF Credit Facility 300 — Mortgage notes payable and other 23 24 Total other borrowings $ 1,198 $ 899 Borrowings from the FHLB as of December 31, 2018 and September 30, 2018 , were comprised of both floating and fixed-rate advances. As of December 31, 2018 and September 30, 2018 , the floating-rate advances, which have interest rates that reset quarterly, totaled $850 million . The floating-rate advances mature in June 2020 . We use interest rate swaps to manage the risk of increases in interest rates associated with these floating-rate advances by converting the balances subject to variable interest rates to a fixed interest rate. Refer to Note 5 for information regarding these interest rate swaps, which are accounted for as hedging instruments. As of both December 31, 2018 and September 30, 2018 , the fixed-rate advance totaled $25 million and bears interest at a fixed rate of 3.4% . This advance matures in October 2020 . All of the advances were secured by a blanket lien granted to the FHLB on our residential mortgage loan portfolio. The weighted average interest rate on these FHLB advances as of December 31, 2018 and September 30, 2018 was 2.84% and 2.41% , respectively. RJF is a party to a revolving credit facility agreement (the “RJF Credit Facility”) with a maturity date of May 2022 in which the lenders are a number of financial institutions. This committed unsecured borrowing facility provides for maximum borrowings of up to $300 million at variable rates of interest. The borrowings outstanding on the RJF Credit Facility bear interest at a rate of 3.96% per annum. The outstanding borrowings at December 31, 2018 were subsequently repaid in January 2019 . There is a variable rate commitment fee associated with the RJF Credit Facility, which varies depending upon RJF ’s credit rating. Based upon RJF ’s credit rating as of December 31, 2018 , the variable rate commitment fee, which would apply to any difference between the daily borrowed amount and the committed amount, was 0.20% per annum. The interest rates for all of our U.S. and Canadian secured and unsecured financing facilities are variable and are based on the Fed Funds rate, London Inter-bank Offered Rate (“LIBOR”), a lenders prime rate, or the Canadian prime rate, as applicable. Any borrowings on secured lines of credit were day-to-day and were generally utilized to finance certain fixed income securities. In addition, we have other collateralized financings included in “Securities sold under agreements to repurchase” and “Securities loaned” on our Condensed Consolidated Statements of Financial Condition. See Note 6 for information regarding our collateralized financing arrangements. Mortgage notes payable pertain to mortgage loans on certain of our corporate headquarters offices located in St. Petersburg, Florida. These mortgage loans are secured by land, buildings, and improvements. These mortgage loans bear a fixed interest rate of 5.7% with repayment terms of monthly interest and principal debt service and have a January 2023 maturity.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For discussion of income tax accounting policies and other income tax related information, see Note 2 and Note 16 of our 2018 Form 10-K. The income tax provision for interim periods is comprised of tax on ordinary income provided at the most recent estimated annual effective tax rate, adjusted for the tax effect of discrete items. We estimate the annual effective tax rate quarterly based on the forecasted pretax results of our U.S. and non-U.S. operations. Items unrelated to current year ordinary income are recognized entirely in the period identified as a discrete item of tax. These discrete items generally relate to changes in tax laws, adjustments to the actual liability determined upon filing tax returns, excess tax benefits related to share-based compensation and adjustments to previously recorded reserves for uncertain tax positions. Effective tax rate For the three months ended December 31, 2018 , our effective income tax rate was 25.2% , which was lower than the 34.8% effective tax rate for fiscal year 2018 . The decrease in the current period effective income tax rate compared to fiscal year 2018 ’s effective income tax rate was due to the prior year remeasurement of our deferred tax assets at a lower enacted federal corporate tax rate, which negatively impacted the prior year’s effective income tax rate by 8.1% , as well as a decrease in the current year’s federal statutory tax rate from 24.5% to 21.0% . Offsetting these items were net valuation losses associated with our company-owned life insurance which unfavorably impacted our effective income tax rate in the current period. Uncertain tax positions We anticipate that the uncertain tax position liability balance will decrease by approximately $5 million over the next twelve months primarily due to the resolution of pending audits with the Internal Revenue Service.

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND GUARANTEES	3 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND GUARANTEES	COMMITMENTS, CONTINGENCIES AND GUARANTEES Commitments and contingencies Loan and underwriting commitments In the normal course of business, we enter into commitments for fixed income and equity underwritings. As of December 31, 2018 , we had two such open underwriting commitments, which were subsequently settled in open market transactions and none of which resulted in a significant loss. As part of our recruiting efforts, we offer loans to prospective financial advisors and certain key revenue producers primarily for recruiting, transitional cost assistance, and retention purposes (see Note 2 of our 2018 Form 10-K for a discussion of our accounting policies governing these transactions). These commitments are contingent upon certain events occurring, including, but not limited to, the individual joining us. As of December 31, 2018 , we had made commitments through the extension of formal offers totaling approximately $143 million that had not yet been funded; however, it is possible that not all of our offers will be accepted and therefore, we would not fund the total amount of the offers extended. As of December 31, 2018 , $82 million of the total amount extended consisted of unfunded commitments to prospective financial advisors that had accepted our offers, or recently hired producers. Commitments to extend credit and other credit-related financial instruments RJ Bank has outstanding at any time a significant number of commitments to extend credit and other credit-related off-balance sheet financial instruments such as standby letters of credit and loan purchases, which then extend over varying periods of time. These arrangements are subject to strict underwriting assessments and each customer’s credit worthiness is evaluated on a case-by-case basis. Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and our exposure is limited to the replacement value of those commitments. The following table presents RJ Bank’s commitments to extend credit and other credit-related off-balance sheet financial instruments outstanding. $ in millions December 31, 2018 September 30, 2018 Open-end consumer lines of credit (primarily SBL) $ 7,684 $ 7,332 Commercial lines of credit $ 1,555 $ 1,643 Unfunded loan commitments $ 567 $ 541 Standby letters of credit $ 45 $ 41 Because many of our lending commitments expire without being funded in whole or part, the contractual amounts are not estimates of our actual future credit exposure or future liquidity requirements. We maintain a reserve to provide for potential losses related to the unfunded lending commitments. See Note 7 for further discussion of this reserve for unfunded lending commitments. RJ&A enters into margin lending arrangements which allow customers to borrow against the value of qualifying securities. Margin loans are collateralized by the securities held in the customer’s account at RJ&A. Collateral levels and established credit terms are monitored daily and we require customers to deposit additional collateral or reduce balances as necessary. Investment commitments A subsidiary of RJ Bank has committed approximately $80 million as an investor member in a LIHTC fund in which a subsidiary of RJTCF is the managing member (see Note 2 of our 2018 Form 10-K for information regarding the accounting policies governing these investments). As of December 31, 2018 , the RJ Bank subsidiary had invested $71 million of the committed amount. We had unfunded commitments to various private equity investments of $18 million as of December 31, 2018 . Other commitments RJF has committed an amount of up to $225 million , subject to certain limitations and to annual review and renewal by the RJF Board of Directors, to either lend to, or guarantee obligations of RJTCF in connection with RJTCF’s low-income housing development/rehabilitation and syndication activities. At December 31, 2018 , RJTCF had $69 million outstanding against this commitment. RJTCF may borrow from RJF in order to make investments in, or fund loans or advances to, either project partnerships that purchase and develop properties qualifying for tax credits or LIHTC funds. Investments in project partnerships are sold to various LIHTC funds, which have third-party investors, and for which RJTCF serves as the managing member or general partner. RJTCF typically sells investments in project partnerships to LIHTC funds within 90 days of their acquisition, and the proceeds from the sales are used to repay RJTCF’s borrowings from RJF. RJTCF may also make short-term loans or advances to project partnerships and LIHTC funds. As a part of our fixed income public finance operations, we enter into forward commitments to purchase agency MBS (see the discussion of these activities within Note 2 of our 2018 Form 10-K). At December 31, 2018 , we had $287 million principal amount of outstanding forward MBS purchase commitments which were expected to be purchased within 90 days following commitment. In order to hedge the market interest rate risk to which we would otherwise be exposed between the date of the commitment and the date of sale of the MBS, we enter into to be announced (“TBA”) security contracts with investors for generic MBS at specific rates and prices to be delivered on settlement dates in the future. We may be subject to loss if the timing of, or the actual amount of, the MBS differs significantly from the term and notional amount of the TBA security contract to which we entered. These TBA securities and related purchase commitments are accounted for at fair value. As of December 31, 2018 , the fair value of the TBA securities and the estimated fair value of the purchase commitments were insignificant. Guarantees Our U.S. broker-dealer subsidiaries are required by federal law to be members of the Securities Investors Protection Corporation (“SIPC”). The SIPC fund provides protection up to $500 thousand per client for securities and cash held in client accounts, including a limitation of $250 thousand on claims for cash balances. We have purchased excess SIPC coverage through various syndicates of Lloyd’s of London. For RJ&A, our clearing broker-dealer, the additional protection currently provided has an aggregate firm limit of $750 million for cash and securities, including a sub-limit of $1.9 million per client for cash above basic SIPC. Account protection applies when a SIPC member fails financially and is unable to meet obligations to clients. This coverage does not protect against market fluctuations. RJF has provided an indemnity to Lloyd’s of London against any and all losses they may incur associated with the excess SIPC policies. RJTCF has provided a guaranteed return on investment to a third-party investor in the Guaranteed LIHTC Fund and RJF has guaranteed RJTCF’s performance under the arrangement. Under the terms of the performance guarantee, should the underlying LIHTC project partnerships held by the Guaranteed LIHTC Fund fail to deliver a certain amount of tax credits and other tax benefits to this investor over the next four years , RJTCF is obligated to pay the investor an amount that results in the investor achieving a minimum specified return on their investment. A $10 million financing asset was included in “Other assets,” and a related $10 million liability was included in “Other payables” on our Condensed Consolidated Statements of Financial Condition as of December 31, 2018 related to this obligation. The maximum exposure to loss under this guarantee was $10 million at December 31, 2018 , which represented the undiscounted future payments due the investor. We guarantee the debt of one of our private equity investments. The amount of such debt, including the undrawn portion of a revolving credit facility, was $13 million as of December 31, 2018 . The debt is secured by substantially all of the assets of the borrower. Legal and regulatory matter contingencies In addition to any matters that may be specifically described in the following sections, in the normal course of our business, we have been named, from time to time, as a defendant in various legal actions, including arbitrations, class actions and other litigation, arising in connection with our activities as a diversified financial services institution. RJF and certain of its subsidiaries are subject to regular reviews and inspections by regulatory authorities and self-regulatory organizations. Reviews can result in the imposition of sanctions for regulatory violations, ranging from non-monetary censures to fines and, in serious cases, temporary or permanent suspension from conducting business, or limitations on certain business activities. In addition, regulatory agencies and self-regulatory organizations institute investigations from time to time into industry practices, which can also result in the imposition of such sanctions. We cannot predict if, how or when such proceedings or investigations will be resolved or what the eventual settlement, fine, penalty or other relief, if any, may be. A large number of factors may contribute to this inherent unpredictability: the proceeding is in its early stages; the damages sought are unspecified, unsupported or uncertain; it is unclear whether a case brought as a class action will be allowed to proceed on that basis; the other party is seeking relief other than or in addition to compensatory damages (including, in the case of regulatory and governmental proceedings, potential fines and penalties); the matters present significant legal uncertainties; we have not engaged in settlement discussions; discovery is not complete; there are significant facts in dispute; and numerous parties are named as defendants (including where it is uncertain how liability might be shared among defendants). We contest liability and/or the amount of damages, as appropriate, in each pending matter. Over the last several years, the level of litigation and investigatory activity (both formal and informal) by government and self-regulatory agencies has increased significantly in the financial services industry. There can be no assurance that material losses will not be incurred from claims that have not yet been asserted or are not yet determined to be material. We may from time to time include in any descriptions of individual matters herein certain quantitative information about the plaintiff’s claim against us as alleged in the plaintiff’s pleadings or other public filings. Although this information may provide insight into the potential magnitude of a matter, it does not represent our estimate of reasonably possible loss or our judgment as to any currently appropriate accrual related thereto. Subject to the foregoing, we believe, after consultation with counsel and consideration of the accrued liability amounts included in the accompanying condensed consolidated financial statements, that the outcome of such litigation and regulatory proceedings will not have a material adverse effect on our consolidated financial condition. However, the outcome of such litigation and proceedings could be material to our operating results and cash flows for a particular future period, depending on, among other things, our revenues or income for such period. With respect to legal and regulatory matters for which management has been able to estimate a range of reasonably possible loss as of December 31, 2018 , we estimated the upper end of the range of reasonably possible aggregate loss to be approximately $125 million in excess of the aggregate reserves for such matters. Refer to Note 2 of our 2018 Form 10-K for a discussion of our criteria for recognizing liabilities for contingencies. Legal matters On February 17, 2015, Jyll Brink (“Brink”) filed a putative class action complaint in the U.S. District Court for the Southern District of Florida (the “District Court”) under the caption Jyll Brink v. Raymond James & Associates, Inc. (the “Brink Complaint”). The Brink Complaint alleges that Brink, a former customer of RJ&A, was charged a fee in her Passport Investment Account, and that the fee included an unauthorized and undisclosed profit to RJ&A in violation of its customer agreement and applicable industry standards. The Passport Investment Account is a fee-based account in which clients pay asset-based advisory fees and certain processing fees for ongoing investment advice and monitoring of securities holdings. The Brink Complaint seeks, among other relief, damages in the amount of the difference between the actual cost of processing a trade, as alleged by Brink, and the fee charged by RJ&A. On May 9, 2016, RJ&A filed a motion to dismiss the Brink Complaint for lack of subject matter jurisdiction pursuant to the Securities Litigation Uniform Standards Act (“SLUSA”). On June 6, 2016, the District Court entered an order granting the motion and dismissing the Brink Complaint on SLUSA preclusion grounds. On June 24, 2016, Brink filed a notice of appeal of the order of dismissal with the United States Court of Appeals for the Eleventh Circuit (the “Appellate Court”). On June 8, 2018, the Appellate Court issued its opinion reversing the order of dismissal and remanding the case to the District Court for further proceedings consistent with the opinion. On October 19, 2018, the District Court certified a class of former and current customers of RJ&A who executed a Passport Agreement and were charged such fees during the period between February 17, 2010 and February 17, 2015. On January 18, 2019, the Appellate Court entered an order granting permission to RJ&A to appeal the District Court’s class certification order. On January 25, 2019, the District Court issued an order staying trial, calendar call and all remaining pretrial deadlines pending resolution of the appeal. RJ&A’s initial appellate brief is due February 27, 2019. RJ&A believes the claims in the Brink Complaint are without merit and is vigorously defending the action. On February 11, 2016, Caleb Wistar (“Wistar”) and Ernest Mayeaux (“Mayeaux”) filed a putative class action complaint in the District Court under the caption Caleb Wistar and Ernest Mayeaux v. Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc. (as subsequently amended, the “Wistar Complaint”). Similar to the Brink Complaint, the Wistar Complaint alleges that Wistar and Mayeaux, former customers of RJFS and Raymond James Financial Services Advisors, Inc. (“RJFSA”), were charged a fee in RJFS and RJFSA’s Passport Investment Account and that the fee included an unauthorized and undisclosed profit to RJFS and RJFSA in violation of its customer agreement and applicable industry standards. The Wistar Complaint seeks, among other relief, damages in the amount of the difference between the actual cost of processing a trade, as alleged by Wistar and Mayeaux, and the fee charge by RJFS and RJFSA. On September 6, 2018, RJFS and RJFSA filed a motion to dismiss the Wistar Complaint. On January 2, 2019, the District Court denied the motion to dismiss. The matter is currently scheduled for trial commencing September 16, 2019. On January 25, 2019, RJFS and RJFSA filed a motion to stay trial, calendar call and all remaining pretrial deadlines in light of the Appellate Court’s order in Brink (described above) granting permission to RJ&A to appeal the class certification order, which motion is pending. RJFS and RJFSA believe the claims in the Wistar Complaint are without merit and are vigorously defending the action.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	3 Months Ended
	Dec. 31, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) All of the components of OCI, net of tax, were attributable to RJF. The following table presents the net change in OCI as well as the changes, and the related tax effects, of each component of AOCI. $ in millions Net investment hedges Currency translations Subtotal: net investment hedges and currency translations Available- for-sale securities Cash flow hedges Total Three months ended December 31, 2018 Accumulated other comprehensive income/(loss) as of beginning of period $ 88 $ (111 ) $ (23 ) $ (46 ) $ 42 $ (27 ) Cumulative effect of adoption of ASU 2016-01, net of tax — — — (4 ) — (4 ) Other comprehensive income/(loss): Other comprehensive income/(loss) before reclassifications and taxes 49 (50 ) (1 ) 32 (24 ) 7 Amounts reclassified from accumulated other comprehensive income/(loss), before tax — — — — (1 ) (1 ) Pre-tax net other comprehensive income/(loss) 49 (50 ) (1 ) 32 (25 ) 6 Income tax effect (12 ) — (12 ) (10 ) 8 (14 ) Other comprehensive income/(loss) for the period, net of tax 37 (50 ) (13 ) 22 (17 ) (8 ) Accumulated other comprehensive income/(loss) as of end of period $ 125 $ (161 ) $ (36 ) $ (28 ) $ 25 $ (39 ) Three months ended December 31, 2017 Accumulated other comprehensive income/(loss) as of beginning of period $ 60 $ (80 ) $ (20 ) $ (2 ) $ 7 $ (15 ) Other comprehensive income/(loss): Other comprehensive income/(loss) before reclassifications and taxes 8 (6 ) 2 (16 ) 7 (7 ) Amounts reclassified from accumulated other comprehensive income/(loss), before tax — — — — 1 1 Pre-tax net other comprehensive income/(loss) 8 (6 ) 2 (16 ) 8 (6 ) Income tax effect (2 ) — (2 ) 4 (1 ) 1 Other comprehensive income/(loss) for the period, net of tax 6 (6 ) — (12 ) 7 (5 ) Accumulated other comprehensive income/(loss) as of end of period $ 66 $ (86 ) $ (20 ) $ (14 ) $ 14 $ (20 ) As of October 1, 2018, we adopted new accounting guidance related to the classification and measurement of financial instruments (ASU 2016-01), which generally requires changes in the fair value of equity securities to be recorded in net income. As a result, on a prospective basis beginning October 1, 2018, unrealized gains/(losses) on our equity securities previously classified and accounted for as available-for-sale are recorded in net income instead of OCI. Accordingly, we reclassified a cumulative unrealized gain on such securities, net of tax, from AOCI to retained earnings. See Notes 2 and 4 for additional information. Reclassifications from AOCI to net income, excluding taxes, for both the three months ended December 31, 2018 and 2017 were recorded in “Interest expense” on the Condensed Consolidated Statements of Income and Comprehensive Income. Our net investment hedges and cash flow hedges relate to our derivatives associated with RJ Bank’s business operations (see Note 5 for additional information on these derivatives). Our policy is to release tax effects remaining in AOCI on an individual security basis.

REVENUES

REVENUES	3 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES On October 1, 2018, we adopted the new accounting guidance for revenue from contracts with customers. Under the new guidance, revenue is recognized when promised goods or services are delivered to our customers in an amount we expect to receive in exchange for those goods or services (i.e., the transaction price). Contracts with customers can include multiple services, which are accounted for as separate “performance obligations” if they are determined to be distinct. Our performance obligations to our customers are generally satisfied when we transfer the promised good or service to our customer, either at a point in time or over time. Revenue from a performance obligation transferred at a point in time is recognized at the time that the customer obtains control over the promised good or service. Revenue from our performance obligations satisfied over time are recognized in a manner that depicts our performance in transferring control of the good or service, which is generally measured based on time elapsed, as our customers simultaneously receive and consume the benefit of our services as they are provided. Payment for the majority of our services is considered to be variable consideration, as the amount of revenues we expect to receive is subject to factors outside of our control, including market conditions. Variable consideration is only included in revenue when amounts are not subject to significant reversal, which is generally when uncertainty around the amount of revenue to be received is resolved. We involve a third party in providing services to the customer for some of our contracts with customers. Under the new guidance, we are generally deemed to control the promised service before it is transferred to the customer. Accordingly, beginning with adoption of the new guidance, we present the related revenue gross of the related costs. The following tables present our sources of revenues by segment. See Note 19 for additional information on our segment results. Three months ended December 31, 2018 $ in millions Private Client Group Capital Markets Asset Management RJ Bank Other Intersegment eliminations Total Revenues: Asset management and related administrative fees $ 707 $ 2 $ 161 $ — $ — $ (5 ) $ 865 Brokerage revenues: Securities commissions: Mutual and other fund products 157 2 3 — — (2 ) 160 Insurance and annuity products 104 — — — — — 104 Equities and fixed income products 84 40 — — — — 124 Subtotal securities commissions 345 42 3 — — (2 ) 388 Principal transactions (1) 19 57 — 1 — (1 ) 76 Total brokerage revenues 364 99 3 1 — (3 ) 464 Account and services fees: Mutual fund and annuity service fees 83 — 1 — — (3 ) 81 RJBDP fees 109 — 1 — — (41 ) 69 Client account and other fees 33 — 7 — — (5 ) 35 Total account and service fees 225 — 9 — — (49 ) 185 Investment banking: Equity underwriting 7 27 — — 1 — 35 Merger & acquisition and advisory — 83 — — — — 83 Fixed income investment banking — 19 — — — — 19 Total investment banking 7 129 — — 1 — 137 Other: Tax credit fund revenues — 19 — — — — 19 All other (1) 7 2 — 5 4 — 18 Total other 7 21 — 5 4 — 37 Total non-interest revenues 1,310 251 173 6 5 (57 ) 1,688 Interest income (1) 56 10 1 239 16 (6 ) 316 Total revenues 1,366 261 174 245 21 (63 ) 2,004 Interest expense (10 ) (8 ) — (42 ) (19 ) 6 (73 ) Net revenues $ 1,356 $ 253 $ 174 $ 203 $ 2 $ (57 ) $ 1,931 (continued on next page) (continued from previous page) Three Months Ended December 31, 2017 $ in millions Private Client Group Capital Markets Asset Management RJ Bank Other Intersegment eliminations Total Revenues: Asset management and related administrative fees $ 591 $ 2 $ 141 $ — $ — $ (5 ) $ 729 Brokerage revenues: Securities commissions: Mutual and other fund products 175 2 3 — — (1 ) 179 Insurance and annuity products 111 — — — — — 111 Equities and fixed income products 90 38 — — — (2 ) 126 Subtotal securities commissions 376 40 3 — — (3 ) 416 Principal transactions (1) 20 77 — — — — 97 Total brokerage revenues 396 117 3 — — (3 ) 513 Account and services fees: Mutual fund and annuity service fees 81 — 1 — — (2 ) 80 RJBDP fees 82 — 1 — — (21 ) 62 Client account and other fees 29 1 5 — — (6 ) 29 Total account and service fees 192 1 7 — — (29 ) 171 Investment banking: Equity underwriting 7 17 — — — — 24 Merger & acquisition and advisory — 43 — — — — 43 Fixed income investment banking — 21 — — — — 21 Total investment banking 7 81 — — — — 88 Other: Tax credit fund revenues — 14 — — — — 14 All other (1) 9 1 — 2 8 (1 ) 19 Total other 9 15 — 2 8 (1 ) 33 Total non-interest revenues 1,195 216 151 2 8 (38 ) 1,534 Interest income (1) 43 7 — 176 8 (2 ) 232 Total revenues 1,238 223 151 178 16 (40 ) 1,766 Interest expense (5 ) (6 ) — (13 ) (19 ) 3 (40 ) Net revenues $ 1,233 $ 217 $ 151 $ 165 $ (3 ) $ (37 ) $ 1,726 (1) These revenues are generally not in scope of the new accounting guidance for revenue from contracts with customers. Asset management and related administrative fees We earn asset management and administration fees for performing asset management, investment advisory and related administrative services for retail and institutional clients. Such fees are generally calculated as a percentage of the value of assets in fee-based accounts within our Private Client Group (“PCG”) segment or the net asset value of institutional accounts or funds that we manage, all of which are impacted by market fluctuations and net inflows or outflows of assets. Fees are generally collected quarterly and are based on balances either at the beginning of the quarter, the end of the quarter, or average daily balances. Asset management and related administrative fees are recognized on a monthly basis (i.e., over time) as the services are performed. Revenues related to fee-based accounts are recorded in both the PCG and Asset Management segments, the amount of which depends on whether clients are invested in assets that are managed by our Asset Management segment and the administrative services being provided. Brokerage revenues Securities commissions Mutual and other fund products and insurance and annuity products We earn revenues for distribution and related support services performed related to mutual and other funds, fixed and variable annuities and insurance products. Depending on the product sold, we may receive an upfront fee for our services, a trailing commission, or some combination thereof. Upfront commissions received are generally based on a fixed rate applied, as a percentage, to amounts invested or the value of the contract at the time of sale and are recognized at the time of sale (or, in the case of insurance and annuity products, when the policy is accepted by the carrier). Trailing commissions are generally based on a fixed rate applied, as a percentage, to the net asset value of the fund, or the value of the insurance policy or annuity contract. Trailing commissions are generally received monthly or quarterly while our client holds the investment or holds the contract. As these trailing commissions are based on factors outside of our control, including market movements and client behavior (i.e., how long clients hold their investment, insurance policy or annuity contract), such revenue is recognized when it is probable that a significant reversal will not occur. Equity and fixed income products We earn commissions for executing and clearing transactions for customers, primarily in listed and OTC equity securities, including exchange-traded funds, and options. Such revenues primarily arise from transactions for retail clients in our PCG segment, as well as services related to sales and trading activities transacted on an agency basis in our Capital Markets segment. Commissions are recognized on trade date, generally received from the customer on settlement date, and we record a receivable between the trade date and the date collected from the customer. Principal transaction revenues Principal transactions include revenues from customers’ purchases and sales of financial instruments, including fixed income and equity securities and derivatives, in which we transact on a principal basis. To facilitate such transactions, we carry inventories of financial instruments. The gains and losses on such inventories, both realized and unrealized, are reported as principal transactions revenues. Account and service fees Mutual fund and annuity service fees We earn servicing fees for providing sales and marketing support to product partners and for supporting the availability and distribution of their products on our platforms. We also earn servicing fees from such partners for accounting and administrative services. These fees, which are received monthly or quarterly, are generally based on the market value of assets or number of positions in such programs or, in certain cases, are a fixed annual fee, and are recognized over time as the services are performed. RJBDP fees We earn servicing fees from various banks for administrative services we provide related to our clients’ deposits that are swept to such banks as part of RJBDP, our multi-bank sweep program. The amounts received from third-party banks are variable in nature and fluctuate based on client cash balances in the program, as well as the level of short-term interest rates relative to interest paid to clients on balances in the RJBDP. The fees are earned over time as the related administrative services are performed and are received monthly. Our PCG segment also earns servicing fees from RJ Bank, which are based on the number of accounts that participate in the sweep program. These fees are eliminated in consolidation. Investment banking revenues We earn revenue from investment banking transactions, including public and private equity and debt financing, merger & acquisition advisory services, and other advisory services. Underwriting revenues, which are typically deducted from the proceeds remitted to the issuer, are recognized on trade date if there is no uncertainty or contingency related to the amount to be paid. Fees from merger & acquisition and advisory assignments are generally recognized at the time the services related to the transaction are completed under the terms of the engagement. Fees for advisory services are typically received upfront, as non-refundable retainer fees, or as a success fee upon completion of a transaction. Expenses related to investment banking transactions are generally deferred until the related revenue is recognized or the assignment is otherwise concluded. Beginning October 1, 2018, such expenses have been included in “Professional fees” on our Condensed Consolidated Statements of Income and Comprehensive Income. Impact of adoption As a result of the adoption of the new accounting guidance, we have changed the presentation of certain costs from a net presentation within revenues to a gross presentation, particularly those related to merger & acquisition, advisory and underwriting transactions and certain administrative costs related to the RJBDP. As a result of this change, “Investment banking” and “Professional fees” were each $6 million higher and “Account and service fees” and “Other” expense were each $2 million higher for the three months ended December 31, 2018 . These changes had no impact on pre-tax or net income. Other items At December 31, 2018 and September 30, 2018 , net receivables related to contracts with customers were $326 million and $384 million , respectively. We record deferred revenue from contracts with customers when payment is received prior to the performance of our obligation to the customer. Deferred revenue balances were not material as of December 31, 2018 and September 30, 2018 . We have elected the practical expedient allowable by the guidance to not disclose information about remaining performance obligations pertaining to contracts that have an original expected duration of one year or less.

INTEREST INCOME AND INTEREST EX

INTEREST INCOME AND INTEREST EXPENSE	3 Months Ended
	Dec. 31, 2018
Interest Income (Expense), Net [Abstract]
INTEREST INCOME AND INTEREST EXPENSE	INTEREST INCOME AND INTEREST EXPENSE The following table details the components of interest income and interest expense. Three months ended December 31, $ in millions 2018 2017 Interest income: Cash segregated pursuant to regulations $ 14 $ 12 Trading instruments 7 5 Available-for-sale securities 16 11 Margin loans 32 24 Bank loans, net of unearned income 214 160 Loans to financial advisors 4 4 Corporate cash and all other 29 16 Total interest income $ 316 $ 232 Interest expense: Bank deposits $ 35 $ 8 Trading instruments sold but not yet purchased 2 2 Brokerage client payables 6 3 Other borrowings 6 6 Senior notes payable 18 18 Other 6 3 Total interest expense 73 40 Net interest income 243 192 Bank loan loss provision (16 ) (1 ) Net interest income after bank loan loss provision $ 227 $ 191 Interest expense related to bank deposits in the preceding table for the three months ended December 31, 2018 and 2017 excludes interest expense associated with affiliate deposits, which has been eliminated in consolidation.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Dec. 31, 2018
Share-based Compensation [Abstract]
SHARE-BASED AND OTHER COMPENSATION	SHARE-BASED COMPENSATION We have one share-based compensation plan for our employees, Board of Directors and non-employees (comprised of independent contractor financial advisors). We generally issue new shares under The Amended and Restated 2012 Stock Incentive Plan; however, we are also permitted to reissue our treasury shares. Annual share-based compensation awards are generally issued during the first fiscal quarter of each year. Our share-based compensation accounting policies are described in Note 2 of our 2018 Form 10-K. Other information related to our share-based awards is presented in Note 20 of our 2018 Form 10-K. During the three months ended December 31, 2018 , we granted 1.4 million RSUs to employees and outside members of our Board of Directors with a weighted-average grant-date fair value of $76.22 . For the three months ended December 31, 2018 , total compensation expense for restricted equity awards granted to our employees and members of our Board of Directors was $38 million , compared with $30 million for the three months ended December 31, 2017 . As of December 31, 2018 , there were $199 million of total pre-tax compensation costs not yet recognized, net of estimated forfeitures, related to restricted equity awards granted to employees and members of our Board of Directors. These costs are expected to be recognized over a weighted-average period of 3.3 years .

REGULATIONS AND CAPITAL REQUIRE

REGULATIONS AND CAPITAL REQUIREMENTS	3 Months Ended
	Dec. 31, 2018
Regulatory Capital Requirements [Abstract]
REGULATIONS AND CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS RJF, as a bank holding company and financial holding company, RJ Bank, and our broker-dealer subsidiaries are subject to capital requirements by various regulatory authorities. Capital levels of each entity are monitored to ensure compliance with our various regulatory capital requirements. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our financial results. As a bank holding company, RJF is subject to the risk-based capital requirements of the Fed. These risk-based capital requirements are expressed as capital ratios that compare measures of regulatory capital to risk-weighted assets, which involve quantitative measures of our assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting guidelines. RJF’s and RJ Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings, and other factors. RJF and RJ Bank are required to maintain minimum amounts and ratios of Total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), Tier 1 capital to average assets (as defined), and under rules defined under the Basel III standardized approach, Common equity Tier 1 capital (“CET1”) to risk-weighted assets. RJF and RJ Bank each calculate these ratios in order to assess compliance with both regulatory requirements and their internal capital policies. The minimum CET1, Tier 1 capital, and Total capital ratios of RJF and RJ Bank are supplemented by an incremental capital conservation buffer, consisting entirely of capital that qualifies as CET1, that began phasing in on January 1, 2016 in increments of 0.625% per year until it reaches 2.5% of risk-weighted assets on January 1, 2019. Failure to maintain the capital conservation buffer could limit our ability to take certain capital actions, including dividends and common equity repurchases, and to make discretionary bonus payments. As of December 31, 2018 , both RJF’s and RJ Bank’s capital levels exceeded the fully-phased in capital conservation buffer requirement, and are each categorized as “well capitalized.” For further discussion of regulatory capital requirements applicable to certain of our businesses and subsidiaries, see Note 21 of our 2018 Form 10-K. To meet requirements for capital adequacy purposes or to be categorized as “well capitalized,” RJF must maintain minimum CET1, Tier 1 capital, Total capital and Tier 1 leverage amounts and ratios as set forth in the following table. Actual Requirement for capital adequacy purposes To be well capitalized under regulatory provisions $ in millions Amount Ratio Amount Ratio Amount Ratio RJF as of December 31, 2018: CET1 $ 5,499 23.6 % $ 1,047 4.5 % $ 1,513 6.5 % Tier 1 capital $ 5,499 23.6 % $ 1,397 6.0 % $ 1,862 8.0 % Total capital $ 5,738 24.7 % $ 1,862 8.0 % $ 2,328 10.0 % Tier 1 leverage $ 5,499 14.6 % $ 1,508 4.0 % $ 1,885 5.0 % RJF as of September 30, 2018: CET1 $ 5,718 24.3 % $ 1,057 4.5 % $ 1,527 6.5 % Tier 1 capital $ 5,718 24.3 % $ 1,410 6.0 % $ 1,880 8.0 % Total capital $ 5,941 25.3 % $ 1,880 8.0 % $ 2,350 10.0 % Tier 1 leverage $ 5,718 15.8 % $ 1,451 4.0 % $ 1,814 5.0 % The decrease in RJF’s Tier 1 capital and Total capital ratios at December 31, 2018 compared to September 30, 2018 was primarily due to lower equity as a result of share repurchases during the three months ended December 31, 2018 , partially offset by the impact of positive earnings during the current period. To meet the requirements for capital adequacy or to be categorized as “well capitalized,” RJ Bank must maintain CET1, Tier 1 capital, Total capital and Tier 1 leverage amounts and ratios as set forth in the following table. Actual Requirement for capital adequacy purposes To be well capitalized under regulatory provisions $ in millions Amount Ratio Amount Ratio Amount Ratio RJ Bank as of December 31, 2018: CET1 $ 2,076 12.7 % $ 736 4.5 % $ 1,064 6.5 % Tier 1 capital $ 2,076 12.7 % $ 982 6.0 % $ 1,309 8.0 % Total capital $ 2,280 13.9 % $ 1,309 8.0 % $ 1,637 10.0 % Tier 1 leverage $ 2,076 8.5 % $ 974 4.0 % $ 1,217 5.0 % RJ Bank as of September 30, 2018: CET1 $ 2,029 12.7 % $ 721 4.5 % $ 1,042 6.5 % Tier 1 capital $ 2,029 12.7 % $ 961 6.0 % $ 1,282 8.0 % Total capital $ 2,229 13.9 % $ 1,282 8.0 % $ 1,602 10.0 % Tier 1 leverage $ 2,029 8.8 % $ 926 4.0 % $ 1,158 5.0 % RJ Bank’s Tier 1 and Total capital ratios at December 31, 2018 were essentially unchanged compared to September 30, 2018 , as the impact of positive earnings was offset by the impact of growth in bank loans. Certain of our broker-dealer subsidiaries are subject to the requirements of the Uniform Net Capital Rule (Rule 15c3-1) under the Securities Exchange Act of 1934. The following table presents the net capital position of RJ&A. $ in millions December 31, 2018 September 30, 2018 Raymond James & Associates, Inc. : (Alternative Method elected) Net capital as a percent of aggregate debit items 36.69 % 28.22 % Net capital $ 1,052 $ 934 Less: required net capital (57 ) (66 ) Excess net capital $ 995 $ 868 As of December 31, 2018 , all of our other active regulated domestic and international subsidiaries were in compliance with and exceeded all applicable capital requirements.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table presents the computation of basic and diluted earnings per common share. Three months ended December 31, in millions, except per share amounts 2018 2017 Income for basic earnings per common share: Net income attributable to RJF $ 249 $ 119 Less allocation of earnings and dividends to participating securities — — Net income attributable to RJF common shareholders $ 249 $ 119 Income for diluted earnings per common share: Net income attributable to RJF $ 249 $ 119 Less allocation of earnings and dividends to participating securities — — Net income attributable to RJF common shareholders $ 249 $ 119 Common shares: Average common shares in basic computation 144.2 144.5 Dilutive effect of outstanding stock options and certain RSUs 3.1 3.8 Average common shares used in diluted computation 147.3 148.3 Earnings per common share: Basic $ 1.73 $ 0.82 Diluted $ 1.69 $ 0.80 Stock options and certain RSUs excluded from weighted-average diluted common shares because their effect would be antidilutive 1.8 1.4 The allocation of earnings and dividends to participating securities in the preceding table represents dividends paid during the period to participating securities plus an allocation of undistributed earnings to participating securities. Participating securities represent unvested restricted stock and certain RSUs and were insignificant for the three months ended December 31, 2018 and 2017 . Dividends paid on these participating securities were insignificant for the three months ended December 31, 2018 and 2017 . Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed. Dividends per common share declared and paid are detailed in the following table for each respective period. Three months ended December 31, 2018 2017 Dividends per common share - declared $ 0.34 $ 0.25 Dividends per common share - paid $ 0.30 $ 0.22

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We currently operate through the following five business segments: PCG; Capital Markets; Asset Management; RJ Bank; and Other. The business segments are determined based upon factors such as the services provided and the distribution channels served and are consistent with how we assess performance and determine how to allocate our resources throughout our subsidiaries. For a further discussion of our business segments, see Note 23 of our 2018 Form 10-K. The following tables present information concerning operations in these segments of business. Three months ended December 31, $ in millions 2018 2017 Revenues: Private Client Group $ 1,366 $ 1,238 Capital Markets 261 223 Asset Management 174 151 RJ Bank 245 178 Other 21 16 Intersegment eliminations (63 ) (40 ) Total revenues $ 2,004 $ 1,766 Income/(loss) excluding noncontrolling interests and before provision for income taxes: Private Client Group $ 164 $ 155 Capital Markets 12 5 Asset Management 64 57 RJ Bank 110 114 Other (18 ) (20 ) Pre-tax income excluding noncontrolling interests 332 311 Net loss attributable to noncontrolling interests (2 ) — Income including noncontrolling interests and before provision for income taxes $ 330 $ 311 No individual client accounted for more than ten percent of total revenues in any of the periods presented. Three months ended December 31, $ in millions 2018 2017 Net interest income/(expense): Private Client Group $ 46 $ 38 Capital Markets 2 1 Asset Management 1 — RJ Bank 197 163 Other and intersegment eliminations (3 ) (10 ) Net interest income $ 243 $ 192 The following table presents our total assets on a segment basis. $ in millions December 31, 2018 September 30, 2018 Total assets: Private Client Group $ 9,751 $ 10,173 Capital Markets 2,202 2,279 Asset Management 389 387 RJ Bank 24,901 22,922 Other 1,301 1,652 Total $ 38,544 $ 37,413 The following table presents goodwill, which was included in our total assets on a segment basis. $ in millions December 31, 2018 September 30, 2018 Goodwill: Private Client Group $ 275 $ 276 Capital Markets 132 133 Asset Management 69 69 Total $ 476 $ 478 We have operations in the U.S., Canada and Europe. Substantially all long-lived assets are located in the U.S. The following table presents our revenues and income before provision for income taxes and excluding noncontrolling interests, classified by major geographic area in which they were earned. Three months ended December 31, $ in millions 2018 2017 Revenues: U.S. $ 1,857 $ 1,634 Canada 111 99 Europe 36 33 Total $ 2,004 $ 1,766 Pre-tax income/(loss) excluding noncontrolling interests: U.S. $ 330 $ 305 Canada 16 9 Europe (1) (14 ) (3 ) Total $ 332 $ 311 (1) The pre-tax loss in Europe for the three months ended December 31, 2018 reflects a $15 million loss on the sale of our operations related to research, sales and trading of European equities. The following table presents our total assets by major geographic area in which they were held. $ in millions December 31, 2018 September 30, 2018 Total assets: U.S. $ 35,806 $ 34,651 Canada 2,653 2,673 Europe 85 89 Total $ 38,544 $ 37,413 The following table presents goodwill, which was included in our total assets, classified by major geographic area in which it was held. $ in millions December 31, 2018 September 30, 2018 Goodwill: U.S. $ 426 $ 426 Canada 41 43 Europe 9 9 Total $ 476 $ 478

UPDATE OF SIGNIFICANT ACCOUNT_2

UPDATE OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements include the accounts of RJF and its consolidated subsidiaries that are generally controlled through a majority voting interest. We consolidate all of our 100% owned subsidiaries. In addition, we consolidate any variable interest entity ( “VIE” ) in which we are the primary beneficiary. Additional information on these VIEs is provided in Note 2 of our Annual Report on Form 10-K (the “2018 Form 10-K”) for the year ended September 30, 2018 , as filed with the United States (“U.S.”) Securities and Exchange Commission (“SEC”) and in Note 8 of this Form 10-Q. When we do not have a controlling interest in an entity, but we exert significant influence over the entity, we apply the equity method of accounting. All material intercompany balances and transactions have been eliminated in consolidation.
Accounting estimates and assumptions	Accounting estimates and assumptions Certain financial information that is normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“ GAAP ”) but not required for interim reporting purposes has been condensed or omitted. These unaudited condensed consolidated financial statements reflect, in the opinion of management, all adjustments necessary for a fair presentation of the consolidated financial position and results of operations for the periods presented. The nature of our business is such that the results of any interim period are not necessarily indicative of results for a full year. These unaudited condensed consolidated financial statements should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and notes thereto included in our 2018 Form 10-K. To prepare condensed consolidated financial statements in conformity with GAAP , we must make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates and could have a material impact on the condensed consolidated financial statements.
Reclassifications	Reclassifications Effective with the firm’s first fiscal quarter ended December 31, 2018, we have reclassified certain revenues among income statement line items and renamed certain line items. These reclassifications do not affect the Company’s reported total revenues or the total revenues in any of our segments for any of the previously reported periods. Prior period results have been conformed to the current presentation. In addition to the reclassification discussed above, certain other prior period amounts have been reclassified to conform to the current period’s presentation.
Loans to financial advisors, net	Loans to financial advisors, net We offer loans to financial advisors and certain other key revenue producers, primarily for recruiting, transitional cost assistance, and retention purposes. We present the outstanding balance of loans to financial advisors on our Condensed Consolidated Statements of Financial Condition, net of the allowance for doubtful accounts. Of the gross balance outstanding, the portion associated with financial advisors who are no longer affiliated with us was $22 million and $20 million at December 31, 2018 and September 30, 2018 , respectively. Our allowance for doubtful accounts was $10 million and $8 million at December 31, 2018 and September 30, 2018 , respectively.
Recent accounting developments	Recent accounting developments Accounting guidance recently adopted Revenue recognition - In May 2014, the FASB issued new guidance regarding revenue recognition (ASU 2014-09). The new guidance is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. It also provides guidance on accounting for certain contract costs and requires additional disclosures. We adopted this guidance as of October 1, 2018, under a modified retrospective approach for all open contracts as of the date of initial adoption. As such, there was no impact on our prior period results. The primary impact of this guidance was the change in the presentation of certain costs from a net presentation within revenues to a gross presentation, particularly related to merger & acquisitions advisory and underwriting transactions and certain administrative costs related to our multi-bank sweep program. These presentation changes had no impact on our net earnings. There were no material changes in timing of revenues recognized associated with the adoption. As a result, adoption of this guidance had no material impact on our net results of operations or financial position. See Note 14 for further information. Financial instruments - In January 2016, the FASB issued new guidance related to the accounting for financial instruments (ASU 2016-01). Among its provisions, this new guidance generally requires equity investments to be measured at fair value with changes in fair value recognized in net income, subject to certain exceptions, and amends certain disclosure requirements associated with the fair value of financial instruments. We adopted this guidance as of October 1, 2018, under a modified retrospective approach. As a result, on a prospective basis beginning as of the date of adoption, we record changes in the fair value of our investments in equity securities that were previously classified as available-for-sale in net income. Previously, such unrealized gains/(losses) were reflected in other comprehensive income/(loss) (“OCI”). The impact of adopting the new guidance resulted in a reclassification from accumulated other comprehensive income/(loss) (“AOCI”) to retained earnings of an accumulated gain of approximately $4 million at October 1, 2018. See Note 4 for further information. Statement of Cash Flows (classification of certain cash receipts and cash payments) - In August 2016, the FASB issued amended guidance related to the Statement of Cash Flows (ASU 2016-15). The amended guidance provides guidance on disclosure and classification of certain items within the statements of cash flows. We adopted this guidance on October 1, 2018, under a retrospective approach. The adoption did not have a material impact on our consolidated statements of cash flows and did not have an impact on our financial position or results of operations. Statement of Cash Flows (restricted cash) - In November 2016, the FASB issued new guidance related to the classification and presentation of changes in restricted cash on the statement of cash flows (ASU 2016-18). The guidance requires an entity to include restricted cash and cash equivalents in its total of cash and cash equivalents on its statement of cash flows and to present a reconciliation of the beginning-of-period and end-of-period total of such amounts on the statement of cash flows. We adopted this guidance on October 1, 2018, under a retrospective approach. Upon adoption, we recorded a decrease of $96 million in net cash provided by operating activities for the three months ended December 31, 2017 related to reclassifying changes in cash segregated pursuant to regulations from operating activities to the cash and cash equivalents balance in the Condensed Consolidated Statements of Cash Flows. The total of cash segregated pursuant to regulations and cash and cash equivalents is included in a separate table in the Condensed Consolidated Statements of Cash Flows. The adoption did not have an impact on our financial position or results of operations. Definition of a business - In January 2017, the FASB issued amended guidance related to the definition of a business (ASU 2017-01). This amended guidance clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. We adopted this guidance on October 1, 2018, on a prospective basis. The impact of the adoption of this amended guidance is dependent upon acquisition and disposal activities subsequent to the date of adoption. The adoption did not have any impact on our financial position or results of operations. Share-based payment awards (modifications) - In May 2017, the FASB issued amended guidance that clarifies when changes to the terms or conditions of share-based payment awards require an entity to apply modification accounting (ASU 2017-09). The amended guidance states an entity should account for the effects of a modification unless certain criteria are met which include that the modified award has the same fair value, vesting conditions and classification as the original award. We adopted the guidance on October 1, 2018, on a prospective basis. We generally do not modify our share-based payments awards. The adoption did not have an impact on our financial position or results of operations. Share-based payment awards (nonemployee) - In June 2018, the FASB issued amended guidance that aligns the measurement and classification guidance for share-based payments to nonemployees with the guidance for share-based payments to employees, with certain exceptions (ASU 2018-07). The amended guidance states an entity should measure the fair value of the award by estimating the fair value of the equity instruments to be issued and, for equity-classified awards, the fair value should be measured on the grant date. The amended guidance also clarifies that nonemployee awards that contain a performance condition are to be measured based on the outcome that is probable and that entities may elect, on an award-by-award basis, to use the expected term or contractual term to measure the award. We early-adopted this standard on October 1, 2018, using a modified retrospective approach. The adoption did not have a significant impact on our financial position or results of operations. Accounting guidance not yet adopted as of December 31, 2018 Lease accounting - In February 2016, the FASB issued new guidance related to the accounting for leases (ASU 2016-02). The new guidance requires the recognition of assets and liabilities on the balance sheet related to the rights and obligations created by lease agreements with terms greater than twelve months, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement and presentation of expenses and cash flows arising from a lease will primarily depend upon its classification as a finance or operating lease. The new guidance requires new disclosures to help financial statement users better understand the amount, timing and cash flows arising from leases. This new guidance, including subsequent amendments, is first effective for our fiscal year beginning on October 1, 2019. Although permitted, we do not plan to early adopt. Upon adoption, we will use a modified retrospective approach, with a cumulative effect adjustment to opening retained earnings. Our implementation efforts include reviewing existing leases and service contracts, which may include embedded leases. We are in the process of identifying changes to our business processes, systems and controls to support adoption of the new guidance. This new guidance will impact our financial position and results of operations. We are evaluating the magnitude of such impact. Credit losses - In June 2016, the FASB issued new guidance related to the measurement of credit losses on financial instruments (ASU 2016-13). The amended guidance involves several aspects of the accounting for credit losses related to certain financial instruments including assets measured at amortized cost, available-for-sale debt securities and certain off-balance sheet commitments. The new guidance broadens the information that an entity must consider in developing its estimated credit losses expected to occur over the remaining life of assets measured either collectively or individually to include historical experience, current conditions and reasonable and supportable forecasts, replacing the existing incurred credit loss model and other models with the Current Expected Credit Losses (“CECL”) model. The new guidance expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating credit losses and requires new disclosures of the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. This new guidance is first effective for our fiscal year beginning October 1, 2020 and will be adopted under a modified retrospective approach. Early adoption is permitted although not prior to our fiscal year beginning October 1, 2019. We have continued with our implementation and evaluation efforts, which include a cross-functional team to assess the required changes to our credit loss estimation methodologies and systems, as well as the determination of additional data and resources required to comply with the new guidance. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations, which will depend on, among other things, the current and expected macroeconomic conditions and the nature and characteristics of financial assets held by us on the date of adoption. Goodwill - In January 2017, the FASB issued amended guidance to simplify the subsequent measurement of goodwill, eliminating “Step 2” from the goodwill impairment test (ASU 2017-04). In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under this amended guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and subsequently recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This guidance is first effective for our fiscal year beginning October 1, 2019 and will be adopted on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We early-adopted this guidance on January 1, 2019, our goodwill impairment test date. Callable debt securities - In March 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date instead of the contractual life of the security (ASU 2017-08). Discounts on callable debt securities will continue to be amortized to the contractual maturity date. This guidance is first effective for our fiscal year beginning on October 1, 2019 and will be adopted using a modified retrospective approach. Although permitted, we do not plan to early adopt. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations. Internal use software (cloud computing) - In August 2018, the FASB issued guidance on the accounting for implementation costs incurred by customers in cloud computing arrangements (ASU 2018-15). This guidance requires implementation costs incurred by customers in cloud computing arrangements to be deferred over the non-cancellable term of the cloud computing arrangements plus any optional renewal periods (1) that are reasonably certain to be exercised by the customer or (2) for which exercise of the renewal option is controlled by the cloud service provider. This amended guidance is first effective for our fiscal year beginning on October 1, 2020 with early adoption permitted. The guidance may be adopted either using the prospective or retrospective approach. We are currently evaluating the impact of this new guidance on our financial position and results of operations. Derivatives and hedging (interest rate) - In October 2018, the FASB issued guidance amending Derivatives and Hedging (Topic 815) to add the overnight index swap (OIS rate) rate based on the Secured Overnight Financing Rate (SOFR) to the list of US benchmark interest rates that are eligible to be hedged (ASU 2018-16). This guidance is first effective for our fiscal year beginning on October 1, 2019. Early adoption is permitted. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations. Consolidation (decision making fees) - In October 2018, the FASB issued guidance on how all entities evaluate decision-making fees under the variable interest entity guidance (ASU 2018-17). Under the new guidance, to determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportionate basis, rather than in their entirety. This guidance is first effective for our fiscal year beginning on October 1, 2020. Early adoption is permitted. We are evaluating the impact the adoption of this new guidance will have on our financial position and results of operations.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis	The following tables present assets and liabilities measured at fair value on a recurring and nonrecurring basis. Netting adjustments represent the impact of counterparty and collateral netting on our derivative balances included on our Condensed Consolidated Statements of Financial Condition. See Note 5 for additional information. Bank loans held for sale measured at fair value on a nonrecurring basis are recorded at a fair value lower than cost. $ in millions Level 1 Level 2 Level 3 Netting adjustments Balance as of Assets at fair value on a recurring basis: Trading instruments Municipal and provincial obligations $ — $ 163 $ — $ — $ 163 Corporate obligations 10 76 — — 86 Government and agency obligations 11 78 — — 89 Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”) 2 226 — — 228 Non-agency CMOs and asset-backed securities (“ABS”) — 101 — — 101 Total debt securities 23 644 — — 667 Equity securities 14 — — — 14 Brokered certificates of deposit — 5 — — 5 Other — 2 3 — 5 Total trading instruments 37 651 3 — 691 Available-for-sale securities — 2,797 — — 2,797 Derivative assets Interest rate contracts - Matched book — 188 — — 188 Interest rate contracts - Other — 64 — (39 ) 25 Total derivative assets — 252 — (39 ) 213 Private equity investments - not measured at net asset value (“NAV”) — — 59 — 59 Other investments 190 2 67 — 259 Subtotal 227 3,702 129 (39 ) 4,019 Private equity investments - measured at NAV 95 Total assets at fair value on a recurring basis $ 227 $ 3,702 $ 129 $ (39 ) $ 4,114 Assets at fair value on a nonrecurring basis: Bank loans, net - Impaired loans $ — $ 8 $ 37 $ — $ 45 Bank loans, net - Loans held for sale — 49 — — 49 Total assets at fair value on a nonrecurring basis $ — $ 57 $ 37 $ — $ 94 Liabilities at fair value on a recurring basis: Trading instruments sold but not yet purchased Corporate obligations $ 2 $ 31 $ — $ — $ 33 Government obligations 235 — — — 235 Agency MBS and CMOs 3 — — — 3 Total debt securities 240 31 — — 271 Equity securities 4 — — — 4 Other — — 4 — 4 Total trading instruments sold but not yet purchased 244 31 4 — 279 Derivative liabilities Interest rate contracts - Matched book — 188 — — 188 Interest rate contracts - Other — 85 — (54 ) 31 Foreign exchange contracts — 2 — — 2 Deutsche Bank restricted stock unit (“DBRSU”) obligation (equity) — 11 — — 11 Total derivative liabilities — 286 — (54 ) 232 Total liabilities at fair value on a recurring basis $ 244 $ 317 $ 4 $ (54 ) $ 511 $ in millions Level 1 Level 2 Level 3 Netting Balance as of Assets at fair value on a recurring basis: Trading instruments Municipal and provincial obligations $ 1 $ 247 $ — $ — $ 248 Corporate obligations 10 100 — — 110 Government and agency obligations 19 72 — — 91 Agency MBS and CMOs 3 124 — — 127 Non-agency CMOs and ABS — 69 — — 69 Total debt securities 33 612 — — 645 Equity securities 15 — — — 15 Brokered certificates of deposit — 39 — — 39 Other — 2 1 — 3 Total trading instruments 48 653 1 — 702 Available-for-sale securities Agency MBS and CMOs — 2,628 — — 2,628 Other securities 1 — — — 1 Auction rate securities (“ARS”) preferred — — 67 — 67 Total available-for-sale securities 1 2,628 67 — 2,696 Derivative assets Interest rate contracts - Matched book — 160 — — 160 Interest rate contracts - Other — 74 — (55 ) 19 Foreign exchange contracts — 1 — — 1 Total derivative assets — 235 — (55 ) 180 Private equity investments - not measured at NAV — — 56 — 56 Other investments 201 1 — — 202 Subtotal 250 3,517 124 (55 ) 3,836 Private equity investments measured at NAV 91 Total assets at fair value on a recurring basis $ 250 $ 3,517 $ 124 $ (55 ) $ 3,927 Assets at fair value on a nonrecurring basis: Bank loans, net - Impaired loans $ — $ 10 $ 18 $ — $ 28 Bank loans, net - Loans held for sale — 41 — — 41 Total assets at fair value on a nonrecurring basis $ — $ 51 $ 18 $ — $ 69 Liabilities at fair value on a recurring basis Trading instruments sold but not yet purchased Municipal and provincial obligations $ — $ 1 $ — $ — $ 1 Corporate obligations 2 25 — — 27 Government obligations 194 — — — 194 Non-agency MBS and CMOs — 1 — — 1 Total debt securities 196 27 — — 223 Equity securities 5 — — — 5 Other — — 7 — 7 Total trading instruments sold but not yet purchased 201 27 7 — 235 Derivative liabilities Interest rate contracts - Matched book — 160 — — 160 Interest rate contracts - Other — 114 — (47 ) 67 Foreign exchange contracts — 4 — — 4 DBRSU obligation (equity) — 16 — — 16 Total derivative liabilities — 294 — (47 ) 247 Total liabilities at fair value on a recurring basis $ 201 $ 321 $ 7 $ (47 ) $ 482
Level 3 Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis, Roll Forward Table of Change in Balances	The following tables present the changes in fair value for Level 3 assets and liabilities measured at fair value on a recurring basis. The realized and unrealized gains and losses in the tables may include changes in fair value that were attributable to both observable and unobservable inputs. In the following tables, gains/(losses) on trading instruments are reported in “Net trading profit,” gains/(losses) on private equity and other investments are reported in “Other” revenues, and gains/(losses) on available-for-sale securities are reported in either “Other” revenues (when included in earnings) or “Other comprehensive income” in our Condensed Consolidated Statements of Income and Comprehensive Income. Three months ended December 31, 2018 Level 3 instruments at fair value Financial assets Financial liabilities Trading instruments Private equity and other investments Trading instruments $ in millions Other Private equity investments Other investments (1) Other Fair value beginning of period $ 1 $ 56 $ 67 $ (7 ) Total gains/(losses) for the period: Included in earnings 1 — — 2 Purchases and contributions 38 3 — 5 Sales (37 ) — — (4 ) Transfers: Into Level 3 — — — — Out of Level 3 — — — — Fair value end of period $ 3 $ 59 $ 67 $ (4 ) Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period $ 1 $ — $ — $ — (1) Beginning of period balance includes $67 million of preferred ARS, which were reclassified from available-for-sale securities in connection with adoption of ASU 2016-01. See Note 2 for additional information. Three months ended December 31, 2017 Level 3 instruments at fair value Financial assets Financial liabilities Trading instruments Available-for-sale securities Private equity and other investments Trading instruments $ in millions Other ARS - preferred Private equity investments Other Fair value beginning of period $ 6 $ 106 $ 89 $ — Total gains/(losses) for the period: Included in earnings (1 ) — — (1 ) Included in other comprehensive income — 1 — — Purchases and contributions 20 — — — Sales (22 ) — — — Transfers: Into Level 3 — — — — Out of Level 3 — — — — Fair value end of period $ 3 $ 107 $ 89 $ (1 ) Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ (1 ) Unrealized gains/(losses) for the period included in other comprehensive income for instruments held at the end of the reporting period $ — $ 1 $ — $ —
Significant Assumptions Used in Valuation of Level 3 Financial Instruments	The following tables present the valuation techniques and significant unobservable inputs used in the valuation of a significant majority of our financial instruments classified as level 3. These inputs represent those that a market participant would take into account when pricing these instruments. Weighted averages are calculated by weighting each input by the relative fair values of the related financial instrument. Level 3 financial instrument $ in millions Fair value at December 31, 2018 Valuation technique(s) Unobservable input Range (weighted-average) Recurring measurements Other investments - ARS preferred $ 67 Discounted cash flow Average discount rate 6.14% - 7.76% (6.86%) Average interest rates applicable to future interest income on the securities (1) 3.54% - 4.71% (3.83%) Prepayment year (2) 2019 - 2021 (2021) Private equity investments (not measured at NAV) $ 46 Income approach - discounted cash flow Discount rate 25 % Terminal EBITDA multiple 10.0x Terminal year 2022 - 2042 (2023) $ 13 Transaction price or other investment-specific events (3) Not meaningful (3) Not meaningful (3) Nonrecurring measurements Bank loans: impaired loans - residential $ 16 Discounted cash flow Prepayment rate 7 yrs. - 12 yrs. (10.5 yrs.) Bank loans: impaired loans - corporate $ 21 Collateral or discounted cash flow value (4) Not meaningful (4) Not meaningful (4) Level 3 financial instrument $ in millions Fair value at September 30, 2018 Valuation technique(s) Unobservable input Range (weighted-average) Recurring measurements ARS preferred $ 67 Discounted cash flow Average discount rate 6.50% - 7.85% (7.13%) Average interest rates applicable to future interest income on the securities (1) 4.13% - 5.51% (4.47%) Prepayment year (2) 2018 - 2021 (2021) Private equity investments (not measured at NAV) $ 43 Income approach - discounted cash flow Discount rate 25 % Terminal EBITDA multiple 10.0x Terminal year 2022 - 2042 (2023) $ 13 Transaction price or other investment-specific events (3) Not meaningful (3) Not meaningful (3) Nonrecurring measurements Bank loans: impaired loans - residential $ 17 Discounted cash flow Prepayment rate 7 yrs. - 12 yrs. (10.5 yrs.) Bank loans: impaired loans - corporate $ 2 Collateral or discounted cash flow value (4) Not meaningful (4) Not meaningful (4) (1) Interest rates are projected based upon a forward interest rate path, plus a spread over such projected base rate that is applicable to each future period for each security within this portfolio segment. The interest rates presented represent the average interest rate over all projected periods for securities within the portfolio segment. (2) Assumed calendar year of at least a partial redemption of the outstanding security by the issuer. (3) Certain investments are valued initially at transaction price and updated as other investment-specific events take place which indicate that a change in the carrying values of these investments is appropriate. Other investment-specific events include such events as our periodic review, significant transactions occur, new developments become known, or we receive information from a fund manager which allows us to update our proportionate share of net assets. (4) The valuation techniques used for the impaired corporate loan portfolio are appraisals or collateral value less selling costs for the collateral dependent loans and discounted cash flows for impaired loans that are not collateral dependent.
Net asset value of recorded value and unfunded commitments	Our private equity portfolio as of December 31, 2018 included various direct investments, as well as investments in third-party private equity funds and various private equity funds which we sponsor. The portfolio is primarily invested in a broad range of industries including leveraged buyouts, growth capital, distressed capital, venture capital and mezzanine capital. Due to the closed-end nature of certain of our fund investments, such investments cannot be redeemed directly with the funds. Our investment is monetized by distributions received through the liquidation of the underlying assets of those funds, the timing of which is uncertain. The following table presents the recorded value and unfunded commitments related to our private equity investments portfolio. $ in millions Recorded value Unfunded commitment December 31, 2018 Private equity investments measured at NAV $ 95 $ 18 Private equity investments not measured at NAV 59 Total private equity investments $ 154 September 30, 2018 Private equity investments measured at NAV $ 91 $ 18 Private equity investments not measured at NAV 56 Total private equity investments $ 147
Carrying Amounts and Estimated Fair Values of Financial Instruments Not Carried at Fair Value	The following table presents the estimated fair value and fair value hierarchy of financial assets and liabilities that are not recorded at fair value on the Condensed Consolidated Statements of Financial Condition. This table excludes financial instruments that are carried at amounts which approximate fair value. Refer to Note 4 of our 2018 Form 10-K for discussion of the fair value hierarchy classification of our financial instruments that are not recorded at fair value. Effective October 1, 2018, we adopted new accounting guidance (ASU 2016-01), which requires the fair value of financial instruments not carried at fair value on our statement of financial condition to be estimated utilizing an exit price and eliminates certain disclosure requirements related to these instruments, including exempting certain financial instruments from disclosure (e.g., demand deposits). Prior periods have not been updated to reflect this new accounting guidance. $ in millions Level 1 Level 2 Level 3 Total estimated fair value Carrying amount December 31, 2018 Financial assets: Bank loans, net $ — $ 61 $ 19,578 $ 19,639 $ 19,793 Financial liabilities: Bank deposits - Certificates of deposit $ — $ — $ 489 $ 489 $ 490 Senior notes payable $ — $ 1,512 $ — $ 1,512 $ 1,550 September 30, 2018 Financial assets: Bank loans, net $ — $ 124 $ 19,116 $ 19,240 $ 19,449 Financial liabilities: Bank deposits $ — $ 19,496 $ 439 $ 19,935 $ 19,942 Senior notes payable $ — $ 1,558 $ — $ 1,558 $ 1,550

AVAILABLE-FOR-SALE SECURITIES (

AVAILABLE-FOR-SALE SECURITIES (Tables)	3 Months Ended
	Dec. 31, 2018
Debt Securities, Available-for-sale [Abstract]
Amortized Cost and Estimated Fair Values of Available-For-Sale Securities	The following table details the amortized cost and fair values of our available-for-sale securities. $ in millions Cost basis Gross unrealized gains Gross unrealized losses Fair value December 31, 2018 Agency MBS and CMOs $ 2,834 $ 4 $ (41 ) $ 2,797 September 30, 2018 Agency MBS and CMOs $ 2,698 $ — $ (70 ) $ 2,628 Other securities 2 — (1 ) 1 Total RJ Bank available-for-sale securities 2,700 — (71 ) 2,629 ARS preferred 61 6 — 67 Total available-for-sale securities $ 2,761 $ 6 $ (71 ) $ 2,696
Contractual Maturities, Amortized Cost, Carrying Values, and Current Yields for Available-For-Sales Securities	The following table details the contractual maturities, amortized cost, carrying values and current yields for our available-for-sale securities. Since RJ Bank’s MBS and CMO available-for-sale securities are backed by mortgages, actual maturities may differ from contractual maturities because borrowers may have the right to prepay obligations without prepayment penalties. December 31, 2018 $ in millions Within one year After one but within five years After five but within ten years After ten years Total Agency MBS and CMOs: Amortized cost $ — $ 254 $ 986 $ 1,594 $ 2,834 Carrying value $ — $ 251 $ 975 $ 1,571 $ 2,797 Weighted-average yield — 2.32 % 2.39 % 2.49 % 2.44 %
Available-For-Sale Securities in a Continuous Unrealized Loss Position	The following table details the gross unrealized losses and fair value of securities that were in a loss position at the reporting period end, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position. Less than 12 months 12 months or more Total $ in millions Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses December 31, 2018 Agency MBS and CMOs $ 348 $ (2 ) $ 1,829 $ (39 ) $ 2,177 $ (41 ) September 30, 2018 Agency MBS and CMOs $ 1,103 $ (20 ) $ 1,425 $ (50 ) $ 2,528 $ (70 ) Other securities — — 1 (1 ) 1 (1 ) Total $ 1,103 $ (20 ) $ 1,426 $ (51 ) $ 2,529 $ (71 )

DERIVATIVE ASSETS AND DERIVAT_2

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES (Tables)	3 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value	The following table presents the gross fair value and notional amount of derivative contracts 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. December 31, 2018 September 30, 2018 $ in millions Derivative assets Derivative liabilities Notional amount Derivative assets Derivative liabilities Notional amount Derivatives not designated as hedging instruments Interest rate contracts: Matched book $ 188 $ 188 $ 2,401 $ 160 $ 160 $ 2,416 Other (1) 64 83 6,190 74 113 6,155 Foreign exchange contracts — 1 517 1 1 549 DBRSU obligation (equity) (2) — 11 11 — 16 16 Subtotal 252 283 9,119 235 290 9,136 Derivatives designated as hedging instruments Interest rate contracts — 2 850 — 1 850 Foreign exchange contracts — 1 813 — 3 892 Subtotal — 3 1,663 — 4 1,742 Total gross fair value/notional amount 252 286 $ 10,782 235 294 $ 10,878 Offset on the Condensed Consolidated Statements of Financial Condition Counterparty netting (19 ) (19 ) (26 ) (26 ) Cash collateral netting (20 ) (35 ) (29 ) (21 ) Total amounts offset (39 ) (54 ) (55 ) (47 ) Net amounts presented on the Condensed Consolidated Statements of Financial Condition 213 232 180 247 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition Financial instruments (3) (191 ) (188 ) (162 ) (160 ) Total $ 22 $ 44 $ 18 $ 87 (1) Substantially all relates to interest rate derivatives entered into as part of our fixed income business operations. (2) The DBRSU obligation is not subject to an enforceable master netting arrangement or other similar arrangement. However, we held shares of DB as an economic hedge against this obligation with a fair value of $9 million and $12 million as of December 31, 2018 and September 30, 2018 , respectively, which are a component of “Other investments” on our Condensed Consolidated Statements of Financial Condition. (3) Although the matched book derivative arrangements do not meet the definition of a master netting arrangement as specified by GAAP, the agreement with the third-party intermediary includes terms that are similar to a master netting agreement. As a result, we present the matched book amounts net in the preceding table.
Schedule of Derivative Assets at Fair Value	The following table presents the gross fair value and notional amount of derivative contracts 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. December 31, 2018 September 30, 2018 $ in millions Derivative assets Derivative liabilities Notional amount Derivative assets Derivative liabilities Notional amount Derivatives not designated as hedging instruments Interest rate contracts: Matched book $ 188 $ 188 $ 2,401 $ 160 $ 160 $ 2,416 Other (1) 64 83 6,190 74 113 6,155 Foreign exchange contracts — 1 517 1 1 549 DBRSU obligation (equity) (2) — 11 11 — 16 16 Subtotal 252 283 9,119 235 290 9,136 Derivatives designated as hedging instruments Interest rate contracts — 2 850 — 1 850 Foreign exchange contracts — 1 813 — 3 892 Subtotal — 3 1,663 — 4 1,742 Total gross fair value/notional amount 252 286 $ 10,782 235 294 $ 10,878 Offset on the Condensed Consolidated Statements of Financial Condition Counterparty netting (19 ) (19 ) (26 ) (26 ) Cash collateral netting (20 ) (35 ) (29 ) (21 ) Total amounts offset (39 ) (54 ) (55 ) (47 ) Net amounts presented on the Condensed Consolidated Statements of Financial Condition 213 232 180 247 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition Financial instruments (3) (191 ) (188 ) (162 ) (160 ) Total $ 22 $ 44 $ 18 $ 87 (1) Substantially all relates to interest rate derivatives entered into as part of our fixed income business operations. (2) The DBRSU obligation is not subject to an enforceable master netting arrangement or other similar arrangement. However, we held shares of DB as an economic hedge against this obligation with a fair value of $9 million and $12 million as of December 31, 2018 and September 30, 2018 , respectively, which are a component of “Other investments” on our Condensed Consolidated Statements of Financial Condition. (3) Although the matched book derivative arrangements do not meet the definition of a master netting arrangement as specified by GAAP, the agreement with the third-party intermediary includes terms that are similar to a master netting agreement. As a result, we present the matched book amounts net in the preceding table.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table details the gains/(losses) included in AOCI, net of income taxes, on derivatives designated as hedging instruments. These gains/(losses) include any amounts reclassified from AOCI to income during the period. See Note 13 for additional information. Three months ended December 31, $ in millions 2018 2017 Interest rate contracts (cash flow hedges) $ (17 ) $ 7 Foreign exchange contracts (net investment hedges) 37 6 Total gains/(losses) recognized in AOCI, net of taxes $ 20 $ 13
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	The following table details the gains/(losses) included in AOCI, net of income taxes, on derivatives designated as hedging instruments. These gains/(losses) include any amounts reclassified from AOCI to income during the period. See Note 13 for additional information. Three months ended December 31, $ in millions 2018 2017 Interest rate contracts (cash flow hedges) $ (17 ) $ 7 Foreign exchange contracts (net investment hedges) 37 6 Total gains/(losses) recognized in AOCI, net of taxes $ 20 $ 13
Amount of Gain (Loss) on Derivatives Recognized in Income	The following table details the gains/(losses) on derivatives not designated as hedging instruments recognized in the Condensed Consolidated Statements of Income and Comprehensive Income. $ in millions Location of gain/(loss) included in the Condensed Consolidated Statements of Income and Comprehensive Income Gain/(loss) recognized during the three months ended December 31, 2018 2017 Interest rate contracts Principal transactions/other revenues $ 2 $ 2 Foreign exchange contracts Other revenues $ 26 $ (1 ) DBRSU obligation (equity) Compensation, commissions and benefits expense $ 5 $ (3 )

COLLATERALIZED AGREEMENTS AND_2

COLLATERALIZED AGREEMENTS AND FINANCINGS (Tables)	3 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
Offsetting assets	Although not offset on the Condensed Consolidated Statements of Financial Condition, these transactions are included in the following table. Assets Liabilities $ in millions Reverse repurchase agreements Securities borrowed Repurchase agreements Securities loaned December 31, 2018 Gross amounts of recognized assets/liabilities $ 399 $ 140 $ 156 $ 330 Gross amounts offset on the Condensed Consolidated Statements of Financial Condition — — — — Net amounts presented on the Condensed Consolidated Statements of Financial Condition 399 140 156 330 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition (399 ) (136 ) (156 ) (321 ) Net amounts $ — $ 4 $ — $ 9 September 30, 2018 Gross amounts of recognized assets/liabilities $ 373 $ 255 $ 186 $ 423 Gross amounts offset on the Condensed Consolidated Statements of Financial Condition — — — — Net amounts presented on the Condensed Consolidated Statements of Financial Condition 373 255 186 423 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition (373 ) (248 ) (186 ) (408 ) Net amounts $ — $ 7 $ — $ 15
Offsetting liabilities	Although not offset on the Condensed Consolidated Statements of Financial Condition, these transactions are included in the following table. Assets Liabilities $ in millions Reverse repurchase agreements Securities borrowed Repurchase agreements Securities loaned December 31, 2018 Gross amounts of recognized assets/liabilities $ 399 $ 140 $ 156 $ 330 Gross amounts offset on the Condensed Consolidated Statements of Financial Condition — — — — Net amounts presented on the Condensed Consolidated Statements of Financial Condition 399 140 156 330 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition (399 ) (136 ) (156 ) (321 ) Net amounts $ — $ 4 $ — $ 9 September 30, 2018 Gross amounts of recognized assets/liabilities $ 373 $ 255 $ 186 $ 423 Gross amounts offset on the Condensed Consolidated Statements of Financial Condition — — — — Net amounts presented on the Condensed Consolidated Statements of Financial Condition 373 255 186 423 Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition (373 ) (248 ) (186 ) (408 ) Net amounts $ — $ 7 $ — $ 15
Collateral	The following table presents financial instruments at fair value that we received as collateral, were not included on our Condensed Consolidated Statements of Financial Condition, and that were available to be delivered or repledged, along with the balances of such instruments that were delivered or repledged, to satisfy one of our purposes previously described. $ in millions December 31, September 30, Collateral we received that was available to be delivered or repledged $ 3,051 $ 3,165 Collateral that we delivered or repledged $ 1,303 $ 1,389
Encumbered assets	The following table presents information about the fair value of our assets that have been pledged for one of the purposes previously described. $ in millions December 31, September 30, Financial instruments owned, at fair value, pledged to counterparties that: Had the right to deliver or repledge $ 487 $ 510 Did not have the right to deliver or repledge $ 65 $ 65 Bank loans, net pledged at FHLB and the Federal Reserve Bank $ 4,402 $ 4,075
Transfer of certain financial assets accounted for as secured borrowings	The following table presents the remaining contractual maturity of repurchase agreements and securities lending transactions accounted for as secured borrowings. $ in millions Overnight and continuous Up to 30 days 30-90 days Greater than 90 days Total December 31, 2018 Repurchase agreements: Government and agency obligations $ 90 $ — $ — $ — $ 90 Agency MBS and CMOs 66 — — — 66 Total repurchase agreements 156 — — — 156 Securities loaned: Equity securities 330 — — — 330 Total $ 486 $ — $ — $ — $ 486 September 30, 2018 Repurchase agreements: Government and agency obligations $ 102 $ — $ — $ — $ 102 Agency MBS and CMOs 84 — — — 84 Total repurchase agreements 186 — — — 186 Securities loaned: Equity securities 423 — — — 423 Total $ 609 $ — $ — $ — $ 609

BANK LOANS, NET (Tables)

BANK LOANS, NET (Tables)	3 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Held for Sale and Held for Investment Loan Portfolios	“Loans held for sale, net” and “Total loans held for investment, net” in the following table are presented net of unearned income and deferred expenses, which include purchase premiums, purchase discounts and net deferred origination fees and costs. December 31, 2018 September 30, 2018 $ in millions Balance % Balance % Loans held for investment: C&I loans $ 8,041 40 % $ 7,786 40 % CRE construction loans 176 1 % 151 1 % CRE loans 3,436 17 % 3,624 18 % Tax-exempt loans 1,289 6 % 1,227 6 % Residential mortgage loans 3,912 19 % 3,757 19 % SBL 3,162 16 % 3,033 15 % Total loans held for investment 20,016 19,578 Net unearned income and deferred expenses (20 ) (21 ) Total loans held for investment, net 19,996 19,557 Loans held for sale, net 110 1 % 164 1 % Total loans held for sale and investment 20,106 100 % 19,721 100 % Allowance for loan losses (219 ) (203 ) Bank loans, net $ 19,887 $ 19,518
Loan Purchases and Sales	The following table presents purchases and sales of any loans held for investment by portfolio segment. $ in millions C&I loans CRE loans Residential mortgage loans Total Three months ended December 31, 2018 Purchases $ 262 $ — $ 76 $ 338 Sales $ 135 $ — $ — $ 135 Three months ended December 31, 2017 Purchases $ 148 $ 20 $ 45 $ 213 Sales $ 31 $ — $ — $ 31
Analysis of the Payment Status of Loans Held for Investment	The following table presents an analysis of the payment status of loans held for investment. Amounts in the table exclude any net unearned income and deferred expenses. $ in millions 30-89 days and accruing 90 days or more and accruing Total past due and accruing Nonaccrual Current and accruing Total loans held for investment December 31, 2018 C&I loans $ — $ — $ — $ 28 $ 8,013 $ 8,041 CRE construction loans — — — — 176 176 CRE loans — — — — 3,436 3,436 Tax-exempt loans — — — — 1,289 1,289 Residential mortgage loans: First mortgage loans 3 — 3 20 3,862 3,885 Home equity loans/lines — — — — 27 27 SBL — — — — 3,162 3,162 Total loans held for investment, net $ 3 $ — $ 3 $ 48 $ 19,965 $ 20,016 September 30, 2018 C&I loans $ — $ — $ — $ 2 $ 7,784 $ 7,786 CRE construction loans — — — — 151 151 CRE loans — — — — 3,624 3,624 Tax-exempt loans — — — — 1,227 1,227 Residential mortgage loans: First mortgage loans 1 — 1 23 3,707 3,731 Home equity loans/lines — — — — 26 26 SBL — — — — 3,033 3,033 Total loans held for investment, net $ 1 $ — $ 1 $ 25 $ 19,552 $ 19,578
Summary of Impaired Loans	The following table provides a summary of RJ Bank’s impaired loans. December 31, 2018 September 30, 2018 $ in millions Gross recorded investment Unpaid principal balance Allowance for losses Gross recorded investment Unpaid principal balance Allowance for losses Impaired loans with allowance for loan losses: C&I loans $ 26 $ 26 $ 7 $ — $ — $ — Residential - first mortgage loans 13 17 1 15 20 2 Total 39 43 8 15 20 2 Impaired loans without allowance for loan losses: C&I loans 2 2 — 2 2 — Residential - first mortgage loans 12 19 — 13 20 — Total 14 21 — 15 22 — Total impaired loans $ 53 $ 64 $ 8 $ 30 $ 42 $ 2
Average Balance of Impaired Loans and Interest Income Recognized	The average balance of the total impaired loans was as follows. Three months ended December 31, $ in millions 2018 2017 Average impaired loan balance: C&I loans $ 10 $ 5 Residential - first mortgage loans 27 40 Total $ 37 $ 45
Credit Quality of Held for Investment Loan Portfolio	The following table presents the credit quality of RJ Bank’s held for investment loan portfolio. $ in millions Pass Special mention Substandard Doubtful Total December 31, 2018 C&I loans $ 7,912 $ 70 $ 59 $ — $ 8,041 CRE construction loans 176 — — — 176 CRE loans 3,374 34 28 — 3,436 Tax-exempt loans 1,289 — — — 1,289 Residential mortgage loans: First mortgage loans 3,849 9 27 — 3,885 Home equity loans/lines 27 — — — 27 SBL 3,162 — — — 3,162 Total $ 19,789 $ 113 $ 114 $ — $ 20,016 September 30, 2018 C&I loans $ 7,679 $ 48 $ 59 $ — $ 7,786 CRE construction loans 140 11 — — 151 CRE loans 3,547 44 33 — 3,624 Tax-exempt loans 1,227 — — — 1,227 Residential mortgage loans: First mortgage loans 3,693 8 30 — 3,731 Home equity loans/lines 26 — — — 26 SBL 3,033 — — — 3,033 Total $ 19,345 $ 111 $ 122 $ — $ 19,578
Changes in the Allowance for Loan Losses	The following table presents changes in the allowance for loan losses of RJ Bank by portfolio segment. Loans held for investment $ in millions C&I loans CRE construction loans CRE loans Tax-exempt loans Residential mortgage loans SBL Total Three months ended December 31, 2018 Balance at beginning of period $ 123 $ 3 $ 47 $ 9 $ 17 $ 4 $ 203 Provision/(benefit) for loan losses 15 — (1 ) — 1 1 16 Net (charge-offs)/recoveries: Charge-offs — — — — — — — Recoveries — — — — 1 — 1 Net recoveries — — — — 1 — 1 Foreign exchange translation adjustment (1 ) — — — — — (1 ) Balance at end of period $ 137 $ 3 $ 46 $ 9 $ 19 $ 5 $ 219 Three months ended December 31, 2017 Balance at beginning of period $ 120 $ 1 $ 42 $ 6 $ 17 $ 4 $ 190 Provision/(benefit) for loan losses 2 1 (1 ) 1 (2 ) — 1 Net (charge-offs)/recoveries: Charge-offs (1 ) — — — — — (1 ) Recoveries — — — — 1 — 1 Net (charge-offs)/recoveries (1 ) — — — 1 — — Foreign exchange translation adjustment — — — — — — — Balance at end of period $ 121 $ 2 $ 41 $ 7 $ 16 $ 4 $ 191
Recorded Investment and Related Allowance for Loan Losses, by Loan Portfolio Segment	The following table presents, by loan portfolio segment, RJ Bank’s recorded investment (excluding any net unearned income and deferred expenses) and the related allowance for loan losses. Loans held for investment Allowance for loan losses Recorded investment $ in millions Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2018 C&I loans $ 7 $ 130 $ 137 $ 28 $ 8,013 $ 8,041 CRE construction loans — 3 3 — 176 176 CRE loans — 46 46 — 3,436 3,436 Tax-exempt loans — 9 9 — 1,289 1,289 Residential mortgage loans 1 18 19 31 3,881 3,912 SBL — 5 5 — 3,162 3,162 Total $ 8 $ 211 $ 219 $ 59 $ 19,957 $ 20,016 September 30, 2018 C&I loans $ — $ 123 $ 123 $ 2 $ 7,784 $ 7,786 CRE construction loans — 3 3 — 151 151 CRE loans — 47 47 — 3,624 3,624 Tax-exempt loans — 9 9 — 1,227 1,227 Residential mortgage loans 2 15 17 35 3,722 3,757 SBL — 4 4 — 3,033 3,033 Total $ 2 $ 201 $ 203 $ 37 $ 19,541 $ 19,578

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Dec. 31, 2018
Variable Interest Entities [Abstract]
VIEs where we are the primary beneficiary - aggregate assets and liabilities	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 December 31, 2018 Private Equity Interests $ 71 $ 6 LIHTC fund in which RJ Bank is an investor member 56 — Guaranteed LIHTC Fund 39 3 Other LIHTC funds 18 19 Restricted Stock Trust Fund 18 18 Total $ 202 $ 46 September 30, 2018 Private Equity Interests $ 67 $ 5 LIHTC fund in which RJ Bank is an investor member 53 — Guaranteed LIHTC Fund 40 3 Other LIHTC funds 18 18 Restricted Stock Trust Fund 14 14 Total $ 192 $ 40
VIEs where we are the primary beneficiary - carrying value of assets, liabilities and equity	The following table presents information about the carrying value of the assets, liabilities and equity of the VIEs which we consolidate and which are included on our Condensed Consolidated Statements of Financial Condition. The noncontrolling interests presented in this table represent the portion of these net assets which are not ours. $ in millions December 31, 2018 September 30, 2018 Assets: Cash, cash equivalents and cash segregated pursuant to regulations $ 15 $ 7 Intercompany and other receivables 2 1 Private equity investments 64 63 Investments in real estate partnerships held by consolidated variable interest entities 103 107 Trust fund investment in RJF common stock 18 14 Total assets $ 202 $ 192 Liabilities and equity: Other payables $ 30 $ 27 Intercompany payables 22 17 Total liabilities 52 44 RJF equity 74 70 Noncontrolling interests 76 78 Total equity 150 148 Total liabilities and equity $ 202 $ 192
VIEs where we hold a variable interest but we are not the primary beneficiary - aggregate assets, liabilities and exposure to 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. December 31, 2018 September 30, 2018 $ in millions Aggregate assets Aggregate liabilities Our risk of loss Aggregate assets Aggregate liabilities Our risk of loss Private Equity Interests $ 6,965 $ 153 $ 72 $ 6,908 $ 154 $ 68 LIHTC funds 5,860 2,040 36 5,692 1,912 93 Other 212 113 4 211 114 4 Total $ 13,037 $ 2,306 $ 112 $ 12,811 $ 2,180 $ 165

BANK DEPOSITS (Tables)

BANK DEPOSITS (Tables)	3 Months Ended
	Dec. 31, 2018
Deposits [Abstract]
Summary of Bank Deposits	The following table presents a summary of bank deposits including the weighted-average rate, the calculation of which was based on the actual deposit balances at each respective period. December 31, 2018 September 30, 2018 $ in millions Balance Weighted-average rate Balance Weighted-average rate Savings and money market accounts $ 21,166 0.67 % $ 19,475 0.54 % Certificates of deposit 490 2.21 % 445 2.03 % NOW accounts 7 0.01 % 6 0.01 % Demand deposits (non-interest-bearing) 10 — 16 — Total bank deposits $ 21,673 0.70 % $ 19,942 0.57 %
Scheduled Maturities of Certificates of Deposit	The following table sets forth the scheduled maturities of certificates of deposit. December 31, 2018 September 30, 2018 $ in millions Denominations greater than or equal to $100,000 Denominations less than $100,000 Denominations greater than or equal to $100,000 Denominations less than $100,000 Three months or less $ 33 $ 19 $ 30 $ 17 Over three through six months 23 17 20 13 Over six through twelve months 40 31 38 26 Over one through two years 71 44 65 40 Over two through three years 14 11 21 14 Over three through four years 54 29 44 26 Over four through five years 70 34 63 28 Total $ 305 $ 185 $ 281 $ 164
Interest Expense on Deposits	Interest expense on deposits, excluding interest expense related to affiliate deposits, is summarized in the following table. Three months ended December 31, $ in millions 2018 2017 Savings, money market, and NOW accounts $ 33 $ 7 Certificates of deposit 2 1 Total interest expense on deposits $ 35 $ 8

OTHER BORROWINGS (Tables)

OTHER BORROWINGS (Tables)	3 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following table details the components of other borrowings. $ in millions December 31, 2018 September 30, 2018 FHLB advances $ 875 $ 875 RJF Credit Facility 300 — Mortgage notes payable and other 23 24 Total other borrowings $ 1,198 $ 899

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND GUARANTEES COMMITMENTS, CONTINGENCIES AND GUARANTEES (Tables)	3 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Summary of Commitments to Extend Credit and Other Credit-Related Off-Balance Sheet Financial Instruments Outstanding	The following table presents RJ Bank’s commitments to extend credit and other credit-related off-balance sheet financial instruments outstanding. $ in millions December 31, 2018 September 30, 2018 Open-end consumer lines of credit (primarily SBL) $ 7,684 $ 7,332 Commercial lines of credit $ 1,555 $ 1,643 Unfunded loan commitments $ 567 $ 541 Standby letters of credit $ 45 $ 41

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	3 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents the net change in OCI as well as the changes, and the related tax effects, of each component of AOCI. $ in millions Net investment hedges Currency translations Subtotal: net investment hedges and currency translations Available- for-sale securities Cash flow hedges Total Three months ended December 31, 2018 Accumulated other comprehensive income/(loss) as of beginning of period $ 88 $ (111 ) $ (23 ) $ (46 ) $ 42 $ (27 ) Cumulative effect of adoption of ASU 2016-01, net of tax — — — (4 ) — (4 ) Other comprehensive income/(loss): Other comprehensive income/(loss) before reclassifications and taxes 49 (50 ) (1 ) 32 (24 ) 7 Amounts reclassified from accumulated other comprehensive income/(loss), before tax — — — — (1 ) (1 ) Pre-tax net other comprehensive income/(loss) 49 (50 ) (1 ) 32 (25 ) 6 Income tax effect (12 ) — (12 ) (10 ) 8 (14 ) Other comprehensive income/(loss) for the period, net of tax 37 (50 ) (13 ) 22 (17 ) (8 ) Accumulated other comprehensive income/(loss) as of end of period $ 125 $ (161 ) $ (36 ) $ (28 ) $ 25 $ (39 ) Three months ended December 31, 2017 Accumulated other comprehensive income/(loss) as of beginning of period $ 60 $ (80 ) $ (20 ) $ (2 ) $ 7 $ (15 ) Other comprehensive income/(loss): Other comprehensive income/(loss) before reclassifications and taxes 8 (6 ) 2 (16 ) 7 (7 ) Amounts reclassified from accumulated other comprehensive income/(loss), before tax — — — — 1 1 Pre-tax net other comprehensive income/(loss) 8 (6 ) 2 (16 ) 8 (6 ) Income tax effect (2 ) — (2 ) 4 (1 ) 1 Other comprehensive income/(loss) for the period, net of tax 6 (6 ) — (12 ) 7 (5 ) Accumulated other comprehensive income/(loss) as of end of period $ 66 $ (86 ) $ (20 ) $ (14 ) $ 14 $ (20 )

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our sources of revenues by segment. See Note 19 for additional information on our segment results. Three months ended December 31, 2018 $ in millions Private Client Group Capital Markets Asset Management RJ Bank Other Intersegment eliminations Total Revenues: Asset management and related administrative fees $ 707 $ 2 $ 161 $ — $ — $ (5 ) $ 865 Brokerage revenues: Securities commissions: Mutual and other fund products 157 2 3 — — (2 ) 160 Insurance and annuity products 104 — — — — — 104 Equities and fixed income products 84 40 — — — — 124 Subtotal securities commissions 345 42 3 — — (2 ) 388 Principal transactions (1) 19 57 — 1 — (1 ) 76 Total brokerage revenues 364 99 3 1 — (3 ) 464 Account and services fees: Mutual fund and annuity service fees 83 — 1 — — (3 ) 81 RJBDP fees 109 — 1 — — (41 ) 69 Client account and other fees 33 — 7 — — (5 ) 35 Total account and service fees 225 — 9 — — (49 ) 185 Investment banking: Equity underwriting 7 27 — — 1 — 35 Merger & acquisition and advisory — 83 — — — — 83 Fixed income investment banking — 19 — — — — 19 Total investment banking 7 129 — — 1 — 137 Other: Tax credit fund revenues — 19 — — — — 19 All other (1) 7 2 — 5 4 — 18 Total other 7 21 — 5 4 — 37 Total non-interest revenues 1,310 251 173 6 5 (57 ) 1,688 Interest income (1) 56 10 1 239 16 (6 ) 316 Total revenues 1,366 261 174 245 21 (63 ) 2,004 Interest expense (10 ) (8 ) — (42 ) (19 ) 6 (73 ) Net revenues $ 1,356 $ 253 $ 174 $ 203 $ 2 $ (57 ) $ 1,931 (continued on next page) (continued from previous page) Three Months Ended December 31, 2017 $ in millions Private Client Group Capital Markets Asset Management RJ Bank Other Intersegment eliminations Total Revenues: Asset management and related administrative fees $ 591 $ 2 $ 141 $ — $ — $ (5 ) $ 729 Brokerage revenues: Securities commissions: Mutual and other fund products 175 2 3 — — (1 ) 179 Insurance and annuity products 111 — — — — — 111 Equities and fixed income products 90 38 — — — (2 ) 126 Subtotal securities commissions 376 40 3 — — (3 ) 416 Principal transactions (1) 20 77 — — — — 97 Total brokerage revenues 396 117 3 — — (3 ) 513 Account and services fees: Mutual fund and annuity service fees 81 — 1 — — (2 ) 80 RJBDP fees 82 — 1 — — (21 ) 62 Client account and other fees 29 1 5 — — (6 ) 29 Total account and service fees 192 1 7 — — (29 ) 171 Investment banking: Equity underwriting 7 17 — — — — 24 Merger & acquisition and advisory — 43 — — — — 43 Fixed income investment banking — 21 — — — — 21 Total investment banking 7 81 — — — — 88 Other: Tax credit fund revenues — 14 — — — — 14 All other (1) 9 1 — 2 8 (1 ) 19 Total other 9 15 — 2 8 (1 ) 33 Total non-interest revenues 1,195 216 151 2 8 (38 ) 1,534 Interest income (1) 43 7 — 176 8 (2 ) 232 Total revenues 1,238 223 151 178 16 (40 ) 1,766 Interest expense (5 ) (6 ) — (13 ) (19 ) 3 (40 ) Net revenues $ 1,233 $ 217 $ 151 $ 165 $ (3 ) $ (37 ) $ 1,726 (1) These revenues are generally not in scope of the new accounting guidance for revenue from contracts with customers.

INTEREST INCOME AND INTEREST _2

INTEREST INCOME AND INTEREST EXPENSE (Tables)	3 Months Ended
	Dec. 31, 2018
Interest Income (Expense), Net [Abstract]
Interest Income and Interest Expense	The following table details the components of interest income and interest expense. Three months ended December 31, $ in millions 2018 2017 Interest income: Cash segregated pursuant to regulations $ 14 $ 12 Trading instruments 7 5 Available-for-sale securities 16 11 Margin loans 32 24 Bank loans, net of unearned income 214 160 Loans to financial advisors 4 4 Corporate cash and all other 29 16 Total interest income $ 316 $ 232 Interest expense: Bank deposits $ 35 $ 8 Trading instruments sold but not yet purchased 2 2 Brokerage client payables 6 3 Other borrowings 6 6 Senior notes payable 18 18 Other 6 3 Total interest expense 73 40 Net interest income 243 192 Bank loan loss provision (16 ) (1 ) Net interest income after bank loan loss provision $ 227 $ 191

REGULATIONS AND CAPITAL REQUI_2

REGULATIONS AND CAPITAL REQUIREMENTS (Tables)	3 Months Ended
	Dec. 31, 2018
Raymond James Financial Inc
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Summary of Minimum Requirements Under Regulatory Framework	To meet requirements for capital adequacy purposes or to be categorized as “well capitalized,” RJF must maintain minimum CET1, Tier 1 capital, Total capital and Tier 1 leverage amounts and ratios as set forth in the following table. Actual Requirement for capital adequacy purposes To be well capitalized under regulatory provisions $ in millions Amount Ratio Amount Ratio Amount Ratio RJF as of December 31, 2018: CET1 $ 5,499 23.6 % $ 1,047 4.5 % $ 1,513 6.5 % Tier 1 capital $ 5,499 23.6 % $ 1,397 6.0 % $ 1,862 8.0 % Total capital $ 5,738 24.7 % $ 1,862 8.0 % $ 2,328 10.0 % Tier 1 leverage $ 5,499 14.6 % $ 1,508 4.0 % $ 1,885 5.0 % RJF as of September 30, 2018: CET1 $ 5,718 24.3 % $ 1,057 4.5 % $ 1,527 6.5 % Tier 1 capital $ 5,718 24.3 % $ 1,410 6.0 % $ 1,880 8.0 % Total capital $ 5,941 25.3 % $ 1,880 8.0 % $ 2,350 10.0 % Tier 1 leverage $ 5,718 15.8 % $ 1,451 4.0 % $ 1,814 5.0 %
RJ Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Summary of Minimum Requirements Under Regulatory Framework	To meet the requirements for capital adequacy or to be categorized as “well capitalized,” RJ Bank must maintain CET1, Tier 1 capital, Total capital and Tier 1 leverage amounts and ratios as set forth in the following table. Actual Requirement for capital adequacy purposes To be well capitalized under regulatory provisions $ in millions Amount Ratio Amount Ratio Amount Ratio RJ Bank as of December 31, 2018: CET1 $ 2,076 12.7 % $ 736 4.5 % $ 1,064 6.5 % Tier 1 capital $ 2,076 12.7 % $ 982 6.0 % $ 1,309 8.0 % Total capital $ 2,280 13.9 % $ 1,309 8.0 % $ 1,637 10.0 % Tier 1 leverage $ 2,076 8.5 % $ 974 4.0 % $ 1,217 5.0 % RJ Bank as of September 30, 2018: CET1 $ 2,029 12.7 % $ 721 4.5 % $ 1,042 6.5 % Tier 1 capital $ 2,029 12.7 % $ 961 6.0 % $ 1,282 8.0 % Total capital $ 2,229 13.9 % $ 1,282 8.0 % $ 1,602 10.0 % Tier 1 leverage $ 2,029 8.8 % $ 926 4.0 % $ 1,158 5.0 %
Raymond James & Associates Inc
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Net Capital and Risk Adjusted Capital Positions of Certain Businesses and Subsidiaries	The following table presents the net capital position of RJ&A. $ in millions December 31, 2018 September 30, 2018 Raymond James & Associates, Inc. : (Alternative Method elected) Net capital as a percent of aggregate debit items 36.69 % 28.22 % Net capital $ 1,052 $ 934 Less: required net capital (57 ) (66 ) Excess net capital $ 995 $ 868

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table presents the computation of basic and diluted earnings per common share. Three months ended December 31, in millions, except per share amounts 2018 2017 Income for basic earnings per common share: Net income attributable to RJF $ 249 $ 119 Less allocation of earnings and dividends to participating securities — — Net income attributable to RJF common shareholders $ 249 $ 119 Income for diluted earnings per common share: Net income attributable to RJF $ 249 $ 119 Less allocation of earnings and dividends to participating securities — — Net income attributable to RJF common shareholders $ 249 $ 119 Common shares: Average common shares in basic computation 144.2 144.5 Dilutive effect of outstanding stock options and certain RSUs 3.1 3.8 Average common shares used in diluted computation 147.3 148.3 Earnings per common share: Basic $ 1.73 $ 0.82 Diluted $ 1.69 $ 0.80 Stock options and certain RSUs excluded from weighted-average diluted common shares because their effect would be antidilutive 1.8 1.4
Dividends per Common Share Declared and Paid	Dividends per common share declared and paid are detailed in the following table for each respective period. Three months ended December 31, 2018 2017 Dividends per common share - declared $ 0.34 $ 0.25 Dividends per common share - paid $ 0.30 $ 0.22

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables present information concerning operations in these segments of business. Three months ended December 31, $ in millions 2018 2017 Revenues: Private Client Group $ 1,366 $ 1,238 Capital Markets 261 223 Asset Management 174 151 RJ Bank 245 178 Other 21 16 Intersegment eliminations (63 ) (40 ) Total revenues $ 2,004 $ 1,766 Income/(loss) excluding noncontrolling interests and before provision for income taxes: Private Client Group $ 164 $ 155 Capital Markets 12 5 Asset Management 64 57 RJ Bank 110 114 Other (18 ) (20 ) Pre-tax income excluding noncontrolling interests 332 311 Net loss attributable to noncontrolling interests (2 ) — Income including noncontrolling interests and before provision for income taxes $ 330 $ 311
Reconciliation of Net Income (Loss) from Segments to Consolidated	The following tables present information concerning operations in these segments of business. Three months ended December 31, $ in millions 2018 2017 Revenues: Private Client Group $ 1,366 $ 1,238 Capital Markets 261 223 Asset Management 174 151 RJ Bank 245 178 Other 21 16 Intersegment eliminations (63 ) (40 ) Total revenues $ 2,004 $ 1,766 Income/(loss) excluding noncontrolling interests and before provision for income taxes: Private Client Group $ 164 $ 155 Capital Markets 12 5 Asset Management 64 57 RJ Bank 110 114 Other (18 ) (20 ) Pre-tax income excluding noncontrolling interests 332 311 Net loss attributable to noncontrolling interests (2 ) — Income including noncontrolling interests and before provision for income taxes $ 330 $ 311
Reconciliation of Net Interest Income from Segments to Consolidated [Table Text Block]	Three months ended December 31, $ in millions 2018 2017 Net interest income/(expense): Private Client Group $ 46 $ 38 Capital Markets 2 1 Asset Management 1 — RJ Bank 197 163 Other and intersegment eliminations (3 ) (10 ) Net interest income $ 243 $ 192 The following table presents goodwill, which was included in our total assets, classified by major geographic area in which it was held. $ in millions December 31, 2018 September 30, 2018 Goodwill: U.S. $ 426 $ 426 Canada 41 43 Europe 9 9 Total $ 476 $ 478 The following table presents goodwill, which was included in our total assets on a segment basis. $ in millions December 31, 2018 September 30, 2018 Goodwill: Private Client Group $ 275 $ 276 Capital Markets 132 133 Asset Management 69 69 Total $ 476 $ 478
Reconciliation of Total Assets from Segment to Consolidated	The following table presents our total assets on a segment basis. $ in millions December 31, 2018 September 30, 2018 Total assets: Private Client Group $ 9,751 $ 10,173 Capital Markets 2,202 2,279 Asset Management 389 387 RJ Bank 24,901 22,922 Other 1,301 1,652 Total $ 38,544 $ 37,413
Revenues, Income Before Provision for Income Taxes and Excluding Noncontrolling Interests, and Total Assets, Classified by Major Geographic Areas	The following table presents our total assets by major geographic area in which they were held. $ in millions December 31, 2018 September 30, 2018 Total assets: U.S. $ 35,806 $ 34,651 Canada 2,653 2,673 Europe 85 89 Total $ 38,544 $ 37,413 We have operations in the U.S., Canada and Europe. Substantially all long-lived assets are located in the U.S. The following table presents our revenues and income before provision for income taxes and excluding noncontrolling interests, classified by major geographic area in which they were earned. Three months ended December 31, $ in millions 2018 2017 Revenues: U.S. $ 1,857 $ 1,634 Canada 111 99 Europe 36 33 Total $ 2,004 $ 1,766 Pre-tax income/(loss) excluding noncontrolling interests: U.S. $ 330 $ 305 Canada 16 9 Europe (1) (14 ) (3 ) Total $ 332 $ 311 (1) The pre-tax loss in Europe for the three months ended December 31, 2018 reflects a $15 million loss on the sale of our operations related to research, sales and trading of European equities.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Details)	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percent ownership of subsidiaries that are consolidated (in hundredths)	100.00%

UPDATE OF SIGNIFICANT ACCOUNT_3

UPDATE OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Oct. 01, 2018	Sep. 30, 2018
Loans to financial advisors, net
Loans associated with financial advisors no longer affiliated with the entity, net of allowance	$ 22			$ 20
Loans associated with financial advisors no longer affiliated with us, allowance	10			$ 8
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to cash provided by operating activities	$ (225)	$ (422)
Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to cash provided by operating activities		$ 96
Retained earnings | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of ASU 2016-01, net of tax			$ 4

FAIR VALUE, Recurring and Nonre

FAIR VALUE, Recurring and Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Assets, Fair Value Disclosure
Total trading instruments	$ 691	$ 702
Available-for-sale securities	2,797
Available-for-sale securities		2,696
Derivative assets, gross	252	235
Amount of derivative assets offset	39	55
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	213	180
Liabilities, Fair Value Disclosure [Abstract]
Total trading instruments sold but not yet purchased	279	235
Derivative liabilities	286	294
Total amounts offset	(54)	(47)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	232	247
Recurring
Assets, Fair Value Disclosure
Total debt securities	667	645
Equity securities		15
Equity securities	14
Brokered certificates of deposit	5	39
Trading Securities, Other Security	5	3
Total trading instruments		702
Total trading instruments	691
Available-for-sale securities	2,797
Available-for-sale securities		2,696
Amount of derivative assets offset	39	55
Netting adjustments	(39)	(55)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	213	180
Other investments	259	202
Total assets at fair value on a nonrecurring basis	4,114	3,927
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	271	223
Equity securities	4	5
Other	4	7
Total trading instruments sold but not yet purchased	279	235
Netting adjustments	(54)	(47)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	232	247
Total liabilities at fair value on a recurring basis	511	482
Recurring | Non-agency MBS and CMOs
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		1
Recurring | Municipal and provincial obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		1
Recurring | Corporate obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	33	27
Recurring | Government obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	235	194
Recurring | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	3
Recurring | Municipal and provincial obligations
Assets, Fair Value Disclosure
Total debt securities	163	248
Recurring | Corporate obligations
Assets, Fair Value Disclosure
Total debt securities	86	110
Recurring | Government and agency obligations
Assets, Fair Value Disclosure
Total debt securities	89	91
Recurring | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Assets, Fair Value Disclosure
Total debt securities	228	127
Available-for-sale securities		2,628
Recurring | Non-agency CMOs and asset-backed securities (“ABS”)
Assets, Fair Value Disclosure
Total debt securities	101	69
Recurring | Other securities
Assets, Fair Value Disclosure
Available-for-sale securities		1
Recurring | Auction rate securities preferred securities
Assets, Fair Value Disclosure
Available-for-sale securities		67
Recurring | Assets at Fair Value on a Recurring Basis, Before Investments Measured at NAV
Assets, Fair Value Disclosure
Total assets at fair value on a nonrecurring basis	4,019	3,836
Recurring | Level 1
Assets, Fair Value Disclosure
Total debt securities	23	33
Equity securities		15
Equity securities	14
Brokered certificates of deposit	0	0
Trading Securities, Other Security	0	0
Total trading instruments		48
Total trading instruments	37
Available-for-sale securities	0
Available-for-sale securities		1
Derivative assets, gross	0	0
Other investments	190	201
Total assets at fair value on a nonrecurring basis	227	250
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	240	196
Equity securities	4	5
Other	0	0
Total trading instruments sold but not yet purchased	244	201
Derivative contracts liability, gross	0	0
Total liabilities at fair value on a recurring basis	244	201
Recurring | Level 1 | Non-agency MBS and CMOs
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		0
Recurring | Level 1 | Municipal and provincial obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		0
Recurring | Level 1 | Corporate obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	2	2
Recurring | Level 1 | Government obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	235	194
Recurring | Level 1 | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	3
Recurring | Level 1 | Municipal and provincial obligations
Assets, Fair Value Disclosure
Total debt securities	0	1
Recurring | Level 1 | Corporate obligations
Assets, Fair Value Disclosure
Total debt securities	10	10
Recurring | Level 1 | Government and agency obligations
Assets, Fair Value Disclosure
Total debt securities	11	19
Recurring | Level 1 | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Assets, Fair Value Disclosure
Total debt securities	2	3
Available-for-sale securities		0
Recurring | Level 1 | Non-agency CMOs and asset-backed securities (“ABS”)
Assets, Fair Value Disclosure
Total debt securities	0	0
Recurring | Level 1 | Other securities
Assets, Fair Value Disclosure
Available-for-sale securities		1
Recurring | Level 1 | Auction rate securities preferred securities
Assets, Fair Value Disclosure
Available-for-sale securities		0
Recurring | Level 2
Assets, Fair Value Disclosure
Total debt securities	644	612
Equity securities		0
Equity securities	0
Brokered certificates of deposit	5	39
Trading Securities, Other Security	2	2
Total trading instruments		653
Total trading instruments	651
Available-for-sale securities	2,797
Available-for-sale securities		2,628
Derivative assets, gross	252	235
Other investments	2	1
Total assets at fair value on a nonrecurring basis	3,702	3,517
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	31	27
Equity securities	0	0
Other	0	0
Total trading instruments sold but not yet purchased	31	27
Derivative contracts liability, gross	286	294
Total liabilities at fair value on a recurring basis	317	321
Recurring | Level 2 | Non-agency MBS and CMOs
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		1
Recurring | Level 2 | Municipal and provincial obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		1
Recurring | Level 2 | Corporate obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	31	25
Recurring | Level 2 | Government obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	0	0
Recurring | Level 2 | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	0
Recurring | Level 2 | Municipal and provincial obligations
Assets, Fair Value Disclosure
Total debt securities	163	247
Recurring | Level 2 | Corporate obligations
Assets, Fair Value Disclosure
Total debt securities	76	100
Recurring | Level 2 | Government and agency obligations
Assets, Fair Value Disclosure
Total debt securities	78	72
Recurring | Level 2 | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Assets, Fair Value Disclosure
Total debt securities	226	124
Available-for-sale securities		2,628
Recurring | Level 2 | Non-agency CMOs and asset-backed securities (“ABS”)
Assets, Fair Value Disclosure
Total debt securities	101	69
Recurring | Level 2 | Other securities
Assets, Fair Value Disclosure
Available-for-sale securities		0
Recurring | Level 2 | Auction rate securities preferred securities
Assets, Fair Value Disclosure
Available-for-sale securities		0
Recurring | Level 3
Assets, Fair Value Disclosure
Total debt securities	0	0
Equity securities		0
Equity securities	0
Brokered certificates of deposit	0	0
Trading Securities, Other Security	3	1
Total trading instruments		1
Total trading instruments	3
Available-for-sale securities	0
Available-for-sale securities		67
Derivative assets, gross	0	0
Other investments	67	0
Total assets at fair value on a nonrecurring basis	129	124
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	0	0
Equity securities	0	0
Other	4	7
Total trading instruments sold but not yet purchased	4	7
Derivative contracts liability, gross	0	0
Total liabilities at fair value on a recurring basis	4	7
Recurring | Level 3 | Non-agency MBS and CMOs
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		0
Recurring | Level 3 | Municipal and provincial obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities		0
Recurring | Level 3 | Corporate obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	0	0
Recurring | Level 3 | Government obligations
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	0	0
Recurring | Level 3 | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Liabilities, Fair Value Disclosure [Abstract]
Total debt securities	0
Recurring | Level 3 | Municipal and provincial obligations
Assets, Fair Value Disclosure
Total debt securities	0	0
Recurring | Level 3 | Corporate obligations
Assets, Fair Value Disclosure
Total debt securities	0	0
Recurring | Level 3 | Government and agency obligations
Assets, Fair Value Disclosure
Total debt securities	0	0
Recurring | Level 3 | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Assets, Fair Value Disclosure
Total debt securities	0	0
Available-for-sale securities		0
Recurring | Level 3 | Non-agency CMOs and asset-backed securities (“ABS”)
Assets, Fair Value Disclosure
Total debt securities	0	0
Recurring | Level 3 | Other securities
Assets, Fair Value Disclosure
Available-for-sale securities		0
Recurring | Level 3 | Auction rate securities preferred securities
Assets, Fair Value Disclosure
Available-for-sale securities	67
Recurring | Interest rate contracts
Assets, Fair Value Disclosure
Matched book	188	160
Amount of derivative assets offset	39	55
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	25	19
Liabilities, Fair Value Disclosure [Abstract]
Matched book	188	160
Total amounts offset	(54)	(47)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	31	67
Recurring | Interest rate contracts | Level 1
Assets, Fair Value Disclosure
Matched book	0	0
Derivative assets, gross	0	0
Liabilities, Fair Value Disclosure [Abstract]
Matched book	0	0
Derivative liabilities	0	0
Recurring | Interest rate contracts | Level 2
Assets, Fair Value Disclosure
Matched book	188	160
Derivative assets, gross	64	74
Liabilities, Fair Value Disclosure [Abstract]
Matched book	188	160
Derivative liabilities	85	114
Recurring | Interest rate contracts | Level 3
Assets, Fair Value Disclosure
Matched book	0	0
Derivative assets, gross	0	0
Liabilities, Fair Value Disclosure [Abstract]
Matched book	0	0
Derivative liabilities	0	0
Recurring | Deutsche Bank restricted stock unit (“DBRSU”) obligation (equity)
Liabilities, Fair Value Disclosure [Abstract]
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	11	16
Recurring | Deutsche Bank restricted stock unit (“DBRSU”) obligation (equity) | Level 1
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	0	0
Recurring | Deutsche Bank restricted stock unit (“DBRSU”) obligation (equity) | Level 2
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	11	16
Recurring | Deutsche Bank restricted stock unit (“DBRSU”) obligation (equity) | Level 3
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	0	0
Recurring | Foreign exchange contracts
Assets, Fair Value Disclosure
Net amounts presented on the Condensed Consolidated Statements of Financial Condition		1
Liabilities, Fair Value Disclosure [Abstract]
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	2	4
Recurring | Foreign exchange contracts | Level 1
Assets, Fair Value Disclosure
Derivative assets, gross		0
Liabilities, Fair Value Disclosure [Abstract]
Derivative contracts liability, gross	0	0
Recurring | Foreign exchange contracts | Level 2
Assets, Fair Value Disclosure
Derivative assets, gross		1
Liabilities, Fair Value Disclosure [Abstract]
Derivative liabilities	2	4
Recurring | Foreign exchange contracts | Level 3
Assets, Fair Value Disclosure
Derivative assets, gross		0
Liabilities, Fair Value Disclosure [Abstract]
Derivative contracts liability, gross	0	0
Nonrecurring
Assets, Fair Value Disclosure
Total assets at fair value on a nonrecurring basis	94	69
Nonrecurring | Bank loans, net - Impaired loans
Assets, Fair Value Disclosure
Total bank loans, net	45	28
Nonrecurring | Loans held for sale
Assets, Fair Value Disclosure
Total bank loans, net	49	41
Nonrecurring | Level 1
Assets, Fair Value Disclosure
Total assets at fair value on a nonrecurring basis	0	0
Nonrecurring | Level 1 | Bank loans, net - Impaired loans
Assets, Fair Value Disclosure
Total bank loans, net	0	0
Nonrecurring | Level 1 | Loans held for sale
Assets, Fair Value Disclosure
Total bank loans, net	0	0
Nonrecurring | Level 2
Assets, Fair Value Disclosure
Total assets at fair value on a nonrecurring basis	57	51
Nonrecurring | Level 2 | Bank loans, net - Impaired loans
Assets, Fair Value Disclosure
Total bank loans, net	8	10
Nonrecurring | Level 2 | Loans held for sale
Assets, Fair Value Disclosure
Total bank loans, net	49	41
Nonrecurring | Level 3
Assets, Fair Value Disclosure
Total assets at fair value on a nonrecurring basis	37	18
Nonrecurring | Level 3 | Bank loans, net - Impaired loans
Assets, Fair Value Disclosure
Total bank loans, net	37	18
Nonrecurring | Level 3 | Loans held for sale
Assets, Fair Value Disclosure
Total bank loans, net	0	0
Private equity investments | Recurring
Assets, Fair Value Disclosure
Private equity investments not measured at net asset value (NAV)	59	56
Private equity investments at NAV	95	91
Private equity investments | Recurring | Level 1
Assets, Fair Value Disclosure
Private equity investments not measured at net asset value (NAV)	0	0
Private equity investments | Recurring | Level 2
Assets, Fair Value Disclosure
Private equity investments not measured at net asset value (NAV)	0	$ 0
Private equity investments | Recurring | Level 3
Assets, Fair Value Disclosure
Private equity investments not measured at net asset value (NAV)	$ 59

FAIR VALUE, Level 3 Financial A

FAIR VALUE, Level 3 Financial Assets and Liabilities, Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Transfers:
Available-for-sale securities			$ 2,696
Percentage of instruments measured at fair value on a recurring basis
Instruments measured at fair value, percentage of assets (in hundredths)	11.00%		10.00%
Instruments measured at fair value, percentage of liabilities (in hundredths)	2.00%		2.00%
Instruments measured at fair value, level 3, percentage of assets (in hundredths)	3.00%		3.00%
Trading instruments | Other
Changes in Level 3 recurring fair value measurements, liabilities [Roll Forward]
Fair value beginning of period	$ (7)	$ 0
Total gains/(losses) for the period:
Included in earnings	2	(1)
Included in other comprehensive income		0
Purchases and contributions	5	0
Sales	(4)	0
Transfers:
Into Level 3	0	0
Out of Level 3	0	0
Fair value end of period	(4)	(1)
Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period	0	(1)
Unrealized gains/(losses) for the period included in other comprehensive income for instruments held at the end of the reporting period		0
Trading instruments | Other
Changes in Level 3 recurring fair value measurements, assets [Roll Forward]
Fair value beginning of period	1	6
Total gains/(losses) for the period:
Included in earnings	1	(1)
Included in other comprehensive income		0
Purchases and contributions	38	20
Sales	(37)	(22)
Transfers:
Into Level 3	0	0
Out of Level 3	0	0
Fair value end of period	3	3
Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period	1	0
Unrealized gains/(losses) for the period included in other comprehensive income for instruments held at the end of the reporting period		0
Available-for-sale Securities [Member] | ARS - preferred
Changes in Level 3 recurring fair value measurements, assets [Roll Forward]
Fair value beginning of period		106
Total gains/(losses) for the period:
Included in earnings		0
Included in other comprehensive income		1
Purchases and contributions		0
Sales		0
Transfers:
Into Level 3		0
Out of Level 3		0
Fair value end of period		107
Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period		0
Unrealized gains/(losses) for the period included in other comprehensive income for instruments held at the end of the reporting period		1
Private equity and other investments | Private equity investments
Changes in Level 3 recurring fair value measurements, assets [Roll Forward]
Fair value beginning of period	56	89
Total gains/(losses) for the period:
Included in earnings	0	0
Included in other comprehensive income		0
Purchases and contributions	3	0
Sales	0	0
Transfers:
Into Level 3	0	0
Out of Level 3	0	0
Fair value end of period	59	89
Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period	0	0
Unrealized gains/(losses) for the period included in other comprehensive income for instruments held at the end of the reporting period		$ 0
Private equity and other investments | Other investments (1)
Changes in Level 3 recurring fair value measurements, assets [Roll Forward]
Fair value beginning of period	67
Total gains/(losses) for the period:
Included in earnings	0
Purchases and contributions	0
Sales	0
Transfers:
Into Level 3	0
Out of Level 3	0
Fair value end of period	67
Unrealized gains/(losses) for the period included in earnings for instruments held at the end of the reporting period	$ 0
ARS - preferred | Other investments (1)
Transfers:
Available-for-sale securities			$ 67

FAIR VALUE, Significant Assumpt

FAIR VALUE, Significant Assumptions Used in Valuation of Level 3 Financial Instruments (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	$ 4,114	$ 3,927
Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	94	69
Level 3 | Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	129	124
Level 3 | Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	37	18
Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	0	67
Private equity investments | Level 3 | Recurring | Income approach - discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	46	43
Private equity investments | Level 3 | Recurring | Transaction price or other investment-specific events
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	13	13
Bank loans: impaired loans - residential | Level 3 | Nonrecurring | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	$ 16	$ 17
Bank loans: impaired loans - residential | Level 3 | Nonrecurring | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Prepayment term	7 years	7 years
Bank loans: impaired loans - residential | Level 3 | Nonrecurring | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Prepayment term	12 years	12 years
Bank loans: impaired loans - residential | Level 3 | Nonrecurring | Discounted cash flow | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Prepayment term	10 years 6 months	10 years 6 months
Bank loans: impaired loans - corporate | Level 3 | Nonrecurring | Appraisal or discounts cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total assets at fair value on a nonrecurring basis	$ 21	$ 2
Discount rate | Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement input for available-for-sale debt securities	0.0614	0.0650
Discount rate | Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement input for available-for-sale debt securities	0.0776	0.0785
Discount rate | Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement input for available-for-sale debt securities	0.0686	0.0713
Discount rate | Private equity investments | Level 3 | Recurring | Income approach - discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Multiple applied to revenue	0.25	0.25
Average Interest Rates Applicable to Future Income on Securities | Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement input for available-for-sale debt securities	0.0354	0.0413
Average Interest Rates Applicable to Future Income on Securities | Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement input for available-for-sale debt securities	0.0471	0.0551
Average Interest Rates Applicable to Future Income on Securities | Auction rate securities preferred securities | Level 3 | Recurring | Discounted cash flow | Weighted average
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement input for available-for-sale debt securities	0.0383	0.0447
EBITDA Multiple | Private equity investments | Level 3 | Recurring | Income approach - discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Multiple applied to revenue	10	10

FAIR VALUE, Investments in Priv

FAIR VALUE, Investments in Private Equity Measured at Net Asset Value Per Share (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total private equity investments	$ 154	$ 147
Private equity investments | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity investments at NAV	95	91
Private equity investments not measured at net asset value (NAV)	59	56
Total private equity investments	154	147
Total equity attributable to Raymond James Financial, Inc. | Private equity investments | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity investments at NAV	18	18
Total private equity investments	108	103
Noncontrolling interests | Private equity investments | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total private equity investments	$ 46	$ 44

FAIR VALUE, Carrying Amounts an

FAIR VALUE, Carrying Amounts and Estimated Fair Value of Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Carrying amount
Financial assets:
Bank loans, net	$ 19,793	$ 19,449
Financial liabilities:
Bank deposits	490	19,942
Senior notes payable	1,550	1,550
Level 1 | Total estimated fair value
Financial assets:
Bank loans, net	0	0
Financial liabilities:
Bank deposits	0	0
Senior notes payable	0	0
Level 2 | Total estimated fair value
Financial assets:
Bank loans, net	61	124
Financial liabilities:
Bank deposits	0	19,496
Senior notes payable	1,512	1,558
Level 3 | Total estimated fair value
Financial assets:
Bank loans, net	19,578	19,116
Financial liabilities:
Bank deposits	489	439
Senior notes payable	0	0
Recurring | Total estimated fair value
Financial assets:
Bank loans, net	19,639	19,240
Financial liabilities:
Bank deposits	489	19,935
Senior notes payable	$ 1,512	$ 1,558

AVAILABLE-FOR-SALE SECURITIES,

AVAILABLE-FOR-SALE SECURITIES, Amortized Cost and Fair Values of AFS Securities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities	$ 2,797
Other Investments [Abstract]
Cost basis		$ 2,761
Gross unrealized gains		6
Gross unrealized losses		(71)
Available-for-sale securities		2,696
RJ Bank
Other Investments [Abstract]
Cost basis		2,700
Gross unrealized gains		0
Gross unrealized losses		(71)
Available-for-sale securities		2,629
RJ Bank | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Debt Securities, Available-for-sale [Line Items]
Cost basis	2,834	2,698
Gross unrealized gains	4	0
Gross unrealized losses	41	70
Available-for-sale securities	$ 2,797	2,628
RJ Bank | Other securities
Other Investments [Abstract]
Cost basis		2
Gross unrealized gains		0
Gross unrealized losses		(1)
Available-for-sale securities		1
Non-broker-dealer subsidiaries | Auction rate securities preferred securities
Other Investments [Abstract]
Cost basis		61
Gross unrealized gains		6
Gross unrealized losses		0
Available-for-sale securities		$ 67

AVAILABLE-FOR-SALE SECURITIES_2

AVAILABLE-FOR-SALE SECURITIES, Contractual Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Carrying value
Total	$ 2,797
RJ Bank | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Amortized cost
Within one year	0
After one but within five years	254
After five but within ten years	986
After ten years	1,594
Cost basis	2,834	$ 2,698
Carrying value
Within one year	0
After one but within five years	251
After five but within ten years	975
After ten years	1,571
Total	$ 2,797	$ 2,628
Weighted-average yield
Within one year (in hundredths)	0.00%
After one but within five years (in hundredths)	2.32%
After five but within ten years (in hundredths)	2.39%
After ten years (in hundredths)	2.49%
Total (in hundredths)	2.44%

AVAILABLE-FOR-SALE SECURITIES_3

AVAILABLE-FOR-SALE SECURITIES, Gross Unrealized Losses and Fair Value and Significant Assumptions (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Estimated fair value less than 12 months		$ 1,103
Unrealized losses less than 12 months		(20)
Estimated fair value 12 months or more		1,426
Unrealized losses 12 months or more		(51)
Total estimated fair value		2,529
Total unrealized losses		(71)
RJ Bank | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Estimated far value less than 12 months	$ 348	1,103
Unrealized losses less than 12 months	(2)	(20)
Estimated fair value 12 months or more	1,829	1,425
Unrealized losses 12 months or more	(39)	(50)
Total estimated fair value	2,177	2,528
Total unrealized losses	$ (41)	(70)
RJ Bank | Other securities
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Estimated fair value less than 12 months		0
Unrealized losses less than 12 months		0
Estimated fair value 12 months or more		1
Unrealized losses 12 months or more		(1)
Total estimated fair value		1
Total unrealized losses		$ (1)

AVAILABLE-FOR-SALE SECURITIES_4

AVAILABLE-FOR-SALE SECURITIES, Narrative (Details) $ in Millions	Dec. 31, 2018USD ($)position	Oct. 01, 2018USD ($)	Sep. 30, 2018USD ($)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities			$ 2,696
Available-for-sale securities	$ 2,797
Federal National Mortgage Association (FNMA)
Debt Securities, Available-for-sale [Line Items]
Amortized cost basis	1,860
Available-for-sale securities	1,840
Federal Home Loan Mortgage Corporation (FHLMC)
Debt Securities, Available-for-sale [Line Items]
Amortized cost basis	738
Available-for-sale securities	$ 728
RJ Bank
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities			2,629
RJ Bank | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Debt Securities, Available-for-sale [Line Items]
Number of available-for-sale investment positions determined to be in an unrealized loss position | position	226
Number of available-for-sale investment positions determined to be in an unrealized loss position continuously for less than 12 months | position	27
Number of available-for-sale investment positions determined to be in an unrealized loss position continuously for 12 months or more | position	199
Amortized cost basis	$ 2,834		2,698
Available-for-sale securities	$ 2,797		$ 2,628
Accounting Standards Update 2016-01 | Reclassification Adjustment | Auction rate securities preferred securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities		$ (68)
Other investments		$ 68

DERIVATIVE ASSETS AND DERIVAT_3

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Gain (loss) excluded from assessment of hedge effectiveness	$ 0	$ 0
RJ Bank
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 6,000,000
Maximum length of time hedged in cash flow hedge	9 years

DERIVATIVE ASSETS AND DERIVAT_4

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES, Derivative Assets and Liability Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Derivative assets
Derivative assets	$ 252	$ 235
Counterparty netting	(19)	(26)
Cash collateral netting	(20)	(29)
Total amounts offset	(39)	(55)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	213	180
Financial instruments	(191)	(162)
Net amount	22	18
Derivative liabilities
Derivative liabilities	286	294
Counterparty netting	(19)	(26)
Cash collateral netting	(35)	(21)
Total amounts offset	(54)	(47)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	232	247
Financial instruments	(188)	(160)
Net amount	44	87
Notional amount	10,782	10,878
Derivatives not designated as hedging instruments
Derivative assets
Derivative assets	252	235
Derivative liabilities
Derivative liabilities	283	290
Notional amount	9,119	9,136
Derivatives not designated as hedging instruments | Matched book
Derivative assets
Matched book	188	160
Derivatives With Offsetting Matched Book Positions Fair Value Liability	188	160
Derivative liabilities
Notional amount	2,401	2,416
Derivatives not designated as hedging instruments | Other (1)
Derivative assets
Derivative assets	64	74
Derivative liabilities
Derivative liabilities	83	113
Notional amount	6,190	6,155
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative assets
Derivative assets	0	1
Derivative liabilities
Derivative liabilities	1	1
Notional amount	517	549
Derivatives not designated as hedging instruments | DBRSU derivative
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	11	16
Notional amount	11	16
Derivatives designated as hedging instruments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	3	4
Notional amount	1,663	1,742
Derivatives designated as hedging instruments | Interest rate contracts
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	2	1
Notional amount	850	850
Derivatives designated as hedging instruments | Foreign exchange contracts
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	1	3
Notional amount	813	892
Recurring
Derivative assets
Total amounts offset	(39)	(55)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	213	180
Derivative liabilities
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	232	247
Recurring | Interest rate contracts
Derivative assets
Matched book	188	160
Total amounts offset	(39)	(55)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	25	19
Derivatives With Offsetting Matched Book Positions Fair Value Liability	188	160
Derivative liabilities
Total amounts offset	(54)	(47)
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	31	67
Recurring | DBRSU derivative
Derivative liabilities
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	11	16
Recurring | Not Designated as Hedging Instrument, Economic Hedge | DBRSU derivative
Derivative liabilities
Other investments, share based compensation economic hedge	$ 9	$ 12

DERIVATIVE ASSETS AND DERIVAT_5

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES, Derivative Gain (Loss) Recognized in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Net change in unrealized gain on cash flow hedges	$ (17,000)	$ 7,000
Total gains/(losses) recognized in AOCI, net of taxes	20,000	13,000
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net change in unrealized gain on cash flow hedges	(17,000)	7,000
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange contracts (net investment hedges)	$ 37,000	$ 6,000

DERIVATIVE ASSETS AND DERIVAT_6

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES, Income Statement Location (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Principal transactions/other revenues | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of derivative liability	$ 2	$ 2
Other revenues | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of derivative liability	26	(1)
Compensation, commissions and benefits expense | DBRSU derivative
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of derivative liability	$ 5	$ (3)

DERIVATIVE ASSETS AND DERIVAT_7

DERIVATIVE ASSETS AND DERIVATIVE LIABILITIES, Risk (Details)	Dec. 31, 2018credit_rating_agency
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Debt, minimum number of agencies required to maintain an investment grade rating	1

COLLATERALIZED AGREEMENTS AND_3

COLLATERALIZED AGREEMENTS AND FINANCINGS, Schedule of Offsetting Transactions (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Reverse repurchase agreements
Gross amounts of recognized assets/liabilities	$ 399	$ 373
Gross amounts offset on the Condensed Consolidated Statements of Financial Condition	0	0
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	399	373
Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition	(399)	(373)
Net amounts	0	0
Securities borrowed
Gross amounts of recognized assets/liabilities	140	255
Gross amounts offset on the Condensed Consolidated Statements of Financial Condition	0	0
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	140	255
Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition	(136)	(248)
Net amounts	4	7
Repurchase agreements
Gross amounts of recognized assets/liabilities	156	186
Gross amounts offset on the Condensed Consolidated Statements of Financial Condition	0	0
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	156	186
Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition	(156)	(186)
Net amounts	0	0
Securities loaned
Gross amounts of recognized assets/liabilities	330	423
Gross amounts offset on the Condensed Consolidated Statements of Financial Condition	0	0
Net amounts presented on the Condensed Consolidated Statements of Financial Condition	330	423
Gross amounts not offset on the Condensed Consolidated Statements of Financial Condition	(321)	(408)
Net amounts	$ 9	$ 15

COLLATERALIZED AGREEMENTS AND_4

COLLATERALIZED AGREEMENTS AND FINANCINGS, Collateral (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Collateral Received that Can be Resold or Repledged [Abstract]
Collateral we received that was available to be delivered or repledged	$ 3,051	$ 3,165
Collateral that we delivered or repledged	$ 1,303	$ 1,389

COLLATERALIZED AGREEMENTS AND_5

COLLATERALIZED AGREEMENTS AND FINANCINGS, Encumbered Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Financial instruments owned, at fair value, pledged to counterparties that:
Had the right to deliver or repledge	$ 487	$ 510
Did not have the right to deliver or repledge	65	65
Bank loans, net pledged at FHLB and the Federal Reserve Bank	$ 4,402	$ 4,075

COLLATERALIZED AGREEMENTS AND_6

COLLATERALIZED AGREEMENTS AND FINANCINGS, Repurchase Agreements, Repurchase-to-Maturity Transactions and Securities Loaned Accounted For As Secured Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	$ 156	$ 186
Total	486	609
Government and agency obligations
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	90	102
Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	66	84
Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities loaned	330	423
Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	156	186
Total	486	609
Overnight and continuous | Government and agency obligations
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	90	102
Overnight and continuous | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	66	84
Overnight and continuous | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities loaned	330	423
Up to 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Total	0	0
Up to 30 days | Government and agency obligations
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Up to 30 days | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Up to 30 days | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities loaned	0	0
30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Total	0	0
30-90 days | Government and agency obligations
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
30-90 days | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
30-90 days | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities loaned	0	0
Greater than 90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Total	0	0
Greater than 90 days | Government and agency obligations
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Greater than 90 days | Agency mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Greater than 90 days | Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities loaned	$ 0	$ 0

BANK LOANS, NET, Held for Sale

BANK LOANS, NET, Held for Sale and Held for Investment (Details) $ in Millions	Dec. 31, 2018USD ($)segment	Sep. 30, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments | segment	6
Loans held for investment:
Total loans held for investment	$ 20,016	$ 19,578
Net unearned income and deferred expenses	(20)	(21)
Total loans held for investment, net	19,996	19,557
Loans held for sale, net	110	164
Total loans held for sale and investment	20,106	19,721
Allowance for loan losses	(219)	(203)
Bank loans, net	$ 19,887	$ 19,518
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for sale, net (in hundredths)	1.00%	1.00%
Total loans held for sale and investment (in hundredths)	100.00%	100.00%
C&I loans
Loans held for investment:
Total loans held for investment	$ 8,041	$ 7,786
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for investment (in hundredths)	40.00%	40.00%
CRE construction loans
Loans held for investment:
Total loans held for investment	$ 176	$ 151
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for investment (in hundredths)	1.00%	1.00%
CRE loans
Loans held for investment:
Total loans held for investment	$ 3,436	$ 3,624
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for investment (in hundredths)	17.00%	18.00%
Tax-exempt loans
Loans held for investment:
Total loans held for investment	$ 1,289	$ 1,227
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for investment (in hundredths)	6.00%	6.00%
Residential mortgage loans
Loans held for investment:
Total loans held for investment	$ 3,912	$ 3,757
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for investment (in hundredths)	19.00%	19.00%
SBL
Loans held for investment:
Total loans held for investment	$ 3,162	$ 3,033
Associated percentage of each major loan category in loan portfolios [Abstract]
Loans held for investment (in hundredths)	16.00%	15.00%

BANK LOANS, NET, Originations,

BANK LOANS, NET, Originations, Purchases, and Sales (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loans held for sale
Financing Receivables, Schedule of Purchases and Sales [Line Items]
Loans held for sale originated or purchased	$ 792	$ 358
Proceeds from sale of loans held-for-sale	257	92
Loans held for investment
Financing Receivables, Schedule of Purchases and Sales [Line Items]
Purchases	338	213
Sales	135	31
Loans held for investment | C&I loans
Financing Receivables, Schedule of Purchases and Sales [Line Items]
Purchases	262	148
Sales	135	31
Loans held for investment | CRE loans
Financing Receivables, Schedule of Purchases and Sales [Line Items]
Purchases	0	20
Sales	0	0
Loans held for investment | Residential mortgage loans
Financing Receivables, Schedule of Purchases and Sales [Line Items]
Purchases	76	45
Sales	$ 0	$ 0

BANK LOANS, NET, Analysis of Pa

BANK LOANS, NET, Analysis of Payment Status of Loans Held for Investment (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	$ 20,016	$ 19,578
Nonaccrual	48	25
Performing nonaccrual loans	35	11
Other assets
Analysis of payment status of loans held for investment [Abstract]
Other real estate owned	4	3
30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3	1
90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3	1
Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	19,965	19,552
C&I loans
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	8,041	7,786
Nonaccrual	28	2
C&I loans | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
C&I loans | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
C&I loans | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
C&I loans | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	8,013	7,784
CRE construction loans
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	176	151
Nonaccrual	0	0
CRE construction loans | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
CRE construction loans | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
CRE construction loans | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
CRE construction loans | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	176	151
CRE loans
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3,436	3,624
Nonaccrual	0	0
CRE loans | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
CRE loans | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
CRE loans | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
CRE loans | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3,436	3,624
Tax-exempt loans
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	1,289	1,227
Nonaccrual	0	0
Tax-exempt loans | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Tax-exempt loans | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Tax-exempt loans | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Tax-exempt loans | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	1,289	1,227
Residential - first mortgage loans
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3,885	3,731
Nonaccrual	20	23
Residential - first mortgage loans | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3	1
Residential - first mortgage loans | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Residential - first mortgage loans | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3	1
Residential - first mortgage loans | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3,862	3,707
Residential mortgage - home equity loans/lines
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	27	26
Nonaccrual	0	0
Residential mortgage - home equity loans/lines | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Residential mortgage - home equity loans/lines | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Residential mortgage - home equity loans/lines | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
Residential mortgage - home equity loans/lines | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	27	26
SBL
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3,162	3,033
Nonaccrual	0	0
SBL | 30-89 days and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
SBL | 90 days or more and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
SBL | Total past due and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	0	0
SBL | Current and accruing
Analysis of payment status of loans held for investment [Abstract]
Total loans held for investment	3,162	3,033
Residential mortgage loans | One-to-four family residential mortgage loans
Analysis of payment status of loans held for investment [Abstract]
Financing receivable past due	$ 9	$ 12

BANK LOANS, NET, Summary of Imp

BANK LOANS, NET, Summary of Impaired Loans (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Gross recorded investment
Gross recorded investment, impaired loans with allowance for loan losses	$ 39		$ 15
Gross recorded investment, impaired loans without allowance for loan losses	14		15
Gross recorded investment	53		30
Unpaid principal balance
Unpaid principal balance, impaired loans with allowance for loan losses	43		20
Unpaid principal balance, impaired loans without allowance for loan losses	21		22
Unpaid principal balance	64		42
Impaired loans with allowance for loan losses, allowance for losses	8		2
Loan and Lease Receivables, Impaired
Average impaired loan balance	37	$ 45
C&I loans
Gross recorded investment
Gross recorded investment, impaired loans with allowance for loan losses	26		0
Gross recorded investment, impaired loans without allowance for loan losses	2		2
Unpaid principal balance
Unpaid principal balance, impaired loans with allowance for loan losses	26		0
Unpaid principal balance, impaired loans without allowance for loan losses	2		2
Impaired loans with allowance for loan losses, allowance for losses	7		0
Loan and Lease Receivables, Impaired
Average impaired loan balance	10	5
Residential - first mortgage loans
Gross recorded investment
Gross recorded investment, impaired loans with allowance for loan losses	13		15
Gross recorded investment, impaired loans without allowance for loan losses	12		13
Unpaid principal balance
Unpaid principal balance, impaired loans with allowance for loan losses	17		20
Unpaid principal balance, impaired loans without allowance for loan losses	19		20
Impaired loans with allowance for loan losses, allowance for losses	1		2
Loan and Lease Receivables, Impaired
Impaired loan, troubled debt restructurings	20		$ 21
Average impaired loan balance	$ 27	$ 40

BANK LOANS, NET, Credit Quality

BANK LOANS, NET, Credit Quality of Held for Investment Loan Portfolio (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 20,016	$ 19,578
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	19,789	19,345
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	113	111
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	114	122
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
C&I loans
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	8,041	7,786
C&I loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	7,912	7,679
C&I loans | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	70	48
C&I loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	59	59
C&I loans | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
CRE construction loans
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	176	151
CRE construction loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	176	140
CRE construction loans | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	11
CRE construction loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
CRE construction loans | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
CRE loans
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,436	3,624
CRE loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,374	3,547
CRE loans | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	34	44
CRE loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	28	33
CRE loans | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Tax-exempt loans
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,289	1,227
Tax-exempt loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,289	1,227
Tax-exempt loans | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Tax-exempt loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Tax-exempt loans | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Residential – first mortgage loans
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,885	3,731
Residential – first mortgage loans | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,849	3,693
Residential – first mortgage loans | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	9	8
Residential – first mortgage loans | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	27	30
Residential – first mortgage loans | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Home equity loans/lines
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	27	26
Home equity loans/lines | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	27	26
Home equity loans/lines | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Home equity loans/lines | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Home equity loans/lines | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
SBL
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,162	3,033
SBL | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	3,162	3,033
SBL | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
SBL | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
SBL | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 0	$ 0

BANK LOANS, NET, Changes in the

BANK LOANS, NET, Changes in the Allowance for Loan Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Changes in the allowance for loan losses [Roll Forward]
Provision/(benefit) for loan losses	$ 16	$ 1
Loans held for investment
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	203	190
Provision/(benefit) for loan losses	16	1
Net (charge-offs)/recoveries:
Charge-offs	0	(1)
Recoveries	1	1
Net recoveries	1	0
Foreign exchange translation adjustment	(1)	0
Balance at end of period	219	191
Loans held for investment | C&I loans
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	123	120
Provision/(benefit) for loan losses	15	2
Net (charge-offs)/recoveries:
Charge-offs	0	(1)
Recoveries	0	0
Net recoveries	0	(1)
Foreign exchange translation adjustment	(1)	0
Balance at end of period	137	121
Loans held for investment | CRE construction loans
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	3	1
Provision/(benefit) for loan losses	0	1
Net (charge-offs)/recoveries:
Charge-offs	0	0
Recoveries	0	0
Net recoveries	0	0
Foreign exchange translation adjustment	0	0
Balance at end of period	3	2
Loans held for investment | CRE loans
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	47	42
Provision/(benefit) for loan losses	(1)	(1)
Net (charge-offs)/recoveries:
Charge-offs	0	0
Recoveries	0	0
Net recoveries	0	0
Foreign exchange translation adjustment	0	0
Balance at end of period	46	41
Loans held for investment | Tax-exempt loans
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	9	6
Provision/(benefit) for loan losses	0	1
Net (charge-offs)/recoveries:
Charge-offs	0	0
Recoveries	0	0
Net recoveries	0	0
Foreign exchange translation adjustment	0	0
Balance at end of period	9	7
Loans held for investment | Residential mortgage loans
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	17	17
Provision/(benefit) for loan losses	1	(2)
Net (charge-offs)/recoveries:
Charge-offs	0	0
Recoveries	1	1
Net recoveries	1	1
Foreign exchange translation adjustment	0	0
Balance at end of period	19	16
Loans held for investment | SBL
Changes in the allowance for loan losses [Roll Forward]
Balance at beginning of period	4	4
Provision/(benefit) for loan losses	1	0
Net (charge-offs)/recoveries:
Charge-offs	0	0
Recoveries	0	0
Net recoveries	0	0
Foreign exchange translation adjustment	0	0
Balance at end of period	$ 5	$ 4

BANK LOANS, NET, Allowance for

BANK LOANS, NET, Allowance for Loan Losses, Loans Individually and Collectively Evaluated for Impairment (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Recorded investment
Total loans held for investment	$ 20,016	$ 19,578
Reserve for unfunded lending commitments [Abstract]
Reserve for unfunded lending commitments	10	10
C&I loans
Recorded investment
Total loans held for investment	8,041	7,786
CRE construction loans
Recorded investment
Total loans held for investment	176	151
CRE loans
Recorded investment
Total loans held for investment	3,436	3,624
Tax-exempt loans
Recorded investment
Total loans held for investment	1,289	1,227
SBL
Recorded investment
Total loans held for investment	3,162	3,033
Loans held for investment
Allowance for loan losses
Individually evaluated for impairment	8	2
Collectively evaluated for impairment	211	201
Total allowance for loan losses	219	203	$ 191	$ 190
Recorded investment
Individually evaluated for impairment	59	37
Collectively evaluated for impairment	19,957	19,541
Total loans held for investment	20,016	19,578
Loans held for investment | C&I loans
Allowance for loan losses
Individually evaluated for impairment	7	0
Collectively evaluated for impairment	130	123
Total allowance for loan losses	137	123	121	120
Recorded investment
Individually evaluated for impairment	28	2
Collectively evaluated for impairment	8,013	7,784
Total loans held for investment	8,041	7,786
Loans held for investment | CRE construction loans
Allowance for loan losses
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	3	3
Total allowance for loan losses	3	3	2	1
Recorded investment
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	176	151
Total loans held for investment	176	151
Loans held for investment | CRE loans
Allowance for loan losses
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	46	47
Total allowance for loan losses	46	47	41	42
Recorded investment
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	3,436	3,624
Total loans held for investment	3,436	3,624
Loans held for investment | Tax-exempt loans
Allowance for loan losses
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	9	9
Total allowance for loan losses	9	9	7	6
Recorded investment
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,289	1,227
Total loans held for investment	1,289	1,227
Loans held for investment | Residential mortgage loans
Allowance for loan losses
Individually evaluated for impairment	1	2
Collectively evaluated for impairment	18	15
Total allowance for loan losses	19	17	16	17
Recorded investment
Individually evaluated for impairment	31	35
Collectively evaluated for impairment	3,881	3,722
Total loans held for investment	3,912	3,757
Loans held for investment | SBL
Allowance for loan losses
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	5	4
Total allowance for loan losses	5	4	$ 4	$ 4
Recorded investment
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	3,162	3,033
Total loans held for investment	$ 3,162	$ 3,033

VARIABLE INTEREST ENTITIES, Pri

VARIABLE INTEREST ENTITIES, Primary Beneficiary - Aggregate Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Private Equity Interests
Variable interest entity, consolidated, aggregate assets and liabilities [Abstract]
Aggregate assets	$ 71	$ 67
Aggregate liabilities	6	5
LIHTC fund in which RJ Bank is an investor member
Variable interest entity, consolidated, aggregate assets and liabilities [Abstract]
Aggregate assets	56	53
Aggregate liabilities	0	0
Guaranteed LIHTC Fund
Variable interest entity, consolidated, aggregate assets and liabilities [Abstract]
Aggregate assets	39	40
Aggregate liabilities	3	3
Other LIHTC funds
Variable interest entity, consolidated, aggregate assets and liabilities [Abstract]
Aggregate assets	18	18
Aggregate liabilities	19	18
Restricted Stock Trust Fund
Variable interest entity, consolidated, aggregate assets and liabilities [Abstract]
Aggregate assets	18	14
Aggregate liabilities	18	14
Total VIEs - primary beneficiary
Variable interest entity, consolidated, aggregate assets and liabilities [Abstract]
Aggregate assets	202	192
Aggregate liabilities	$ 46	$ 40

VARIABLE INTEREST ENTITIES, P_2

VARIABLE INTEREST ENTITIES, Primary Beneficiary - Carrying Value of Assets, Liabilities and Equity (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Assets:
Cash, cash equivalents and cash segregated pursuant to regulations	$ 7,104	$ 5,941	$ 7,467	$ 7,146
Intercompany and other receivables	611	583
Private equity investments	154	147
Total assets	38,544	37,413
Liabilities and Equity:
Other payables	726	459
Total liabilities	32,319	30,961
RJF equity	6,143	6,368
Noncontrolling interests	82	84
Total equity	6,225	6,452	$ 5,803
Total liabilities and equity	38,544	37,413
Total VIEs - primary beneficiary
Assets:
Cash, cash equivalents and cash segregated pursuant to regulations	15	7
Intercompany and other receivables	2	1
Private equity investments	64	63
Investments in real estate partnerships held by consolidated variable interest entities	103	107
Trust fund investment in RJF common stock	18	14
Total assets	202	192
Liabilities and Equity:
Other payables	30	27
Intercompany payables	22	17
Total liabilities	52	44
RJF equity	74	70
Noncontrolling interests	76	78
Total equity	150	148
Total liabilities and equity	$ 202	$ 192

VARIABLE INTEREST ENTITIES, Not

VARIABLE INTEREST ENTITIES, Not the Primary Beneficiary - Aggregate Assets, Liabilities Exposure to Loss (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
LIHTC funds
Variable interest entity, nonconsolidated, carrying amount of assets and liabilities [Abstract]
Aggregate assets	$ 5,860	$ 5,692
Aggregate liabilities	2,040	1,912
Our risk of loss	36	93
Private Equity Interests
Variable interest entity, nonconsolidated, carrying amount of assets and liabilities [Abstract]
Aggregate assets	6,965	6,908
Aggregate liabilities	153	154
Our risk of loss	72	68
Other
Variable interest entity, nonconsolidated, carrying amount of assets and liabilities [Abstract]
Aggregate assets	212	211
Aggregate liabilities	113	114
Our risk of loss	4	4
Total VIEs - not primary beneficiary
Variable interest entity, nonconsolidated, carrying amount of assets and liabilities [Abstract]
Aggregate assets	13,037	12,811
Aggregate liabilities	2,306	2,180
Our risk of loss	$ 112	$ 165

BANK DEPOSITS, Summary of Bank

BANK DEPOSITS, Summary of Bank Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Bank deposits:
Savings and money market accounts	$ 21,166	$ 19,475
Certificates of deposit	490	445
NOW accounts	7	6
Demand deposits (non-interest-bearing)	10	16
Total bank deposits	$ 21,673	$ 19,942
Weighted-average rate [Abstract]
Savings and money market accounts, weighted-average rate (in hundredths)	0.67%	0.54%
Certificates of deposit, weighted-average rate (in hundredths)	2.21%	2.03%
NOW accounts, weighted-average rate (in hundredths)	0.01%	0.01%
Demand deposits (non-interest-bearing), weighted-average rate (in hundredths)	0.00%	0.00%
Total bank deposits, weighted-average rate (in hundredths)	0.70%	0.57%
Related party deposit liabilities	$ 236	$ 279
RJF parent cash deposited with RJ Bank	233	$ 277
Time deposit amount that exceeds FDIC insurance limit	$ 25

BANK DEPOSITS, Schedule Maturit

BANK DEPOSITS, Schedule Maturities of Certificates of Deposit (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Scheduled maturities of certificates of deposit, denominations greater than or equal to $100,000 [Abstract]
Three months or less	$ 33	$ 30
Over three through six months	23	20
Over six through twelve months	40	38
Over one through two years	71	65
Over two through three years	14	21
Over three through four years	54	44
Over four through five years	70	63
Total	305	281
Scheduled maturities of certificates of deposit, denominations less than 100,000 [Abstract]
Three months or less	19	17
Over three through six months	17	13
Over six through twelve months	31	26
Over one through two years	44	40
Over two through three years	11	14
Over three through four years	29	26
Over four through five years	34	28
Total	$ 185	$ 164

BANK DEPOSITS, Summary of Inter

BANK DEPOSITS, Summary of Interest Expense on Deposits (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest expense on deposits [Abstract]
Savings, money market, and NOW accounts	$ 33	$ 7
Certificates of deposit	2	1
Total interest expense on deposits	$ 35	$ 8

OTHER BORROWINGS, Schedule of O

OTHER BORROWINGS, Schedule of Other Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Other Borrowings [Line Items]
Total other borrowings	$ 1,198	$ 899
FHLB advances
Other Borrowings [Line Items]
Long-term line of credit	875	875
Mortgage notes payable and other
Other Borrowings [Line Items]
Long-term debt	$ 23	$ 24

OTHER BORROWINGS, Narrative (De

OTHER BORROWINGS, Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
FHLB advances
Debt Instrument [Line Items]
Long-term line of credit	$ 875,000,000	$ 875,000,000
FHLB advances | Weighted average
Debt Instrument [Line Items]
FHLB advances weighted average interest rate	2.84%	2.41%
FHLB advances | FHLB Advance Maturing June 2020
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 850,000,000	$ 850,000,000
FHLB advances | FHLB Advance Maturing October 2020
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 25,000,000	$ 25,000,000
Stated interest rate	3.40%	3.40%
Mortgages | 5.70% mortgage notes payable on our headquarters office complex, due 2023
Debt Instrument [Line Items]
Stated interest rate	5.70%
Revolving Credit Facility | RJF Credit Facility
Debt Instrument [Line Items]
Stated interest rate	3.96%
Revolving credit agreement maximum borrowing capacity	$ 300,000,000
Long-term line of credit	$ 300,000,000	$ 0
Revolving credit agreement commitment fee percentage	0.20%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	25.20%	34.80%
Increase in effective federal income tax rate as result of Tax Cuts And Jobs Act		8.10%
Federal statutory tax rate	21.00%	24.50%
Anticipated decrease in uncertain tax position liability balance	$ 5

COMMITMENTS, CONTINGENCIES AN_3

COMMITMENTS, CONTINGENCIES AND GUARANTEES, Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Dec. 31, 2018USD ($)commitment
Commitments [Line Items]
Number of open underwriting commitments | commitment	2
Unfunded loans not accepted by financial advisors and certain key revenue producers
Commitments [Line Items]
Amount of commitment	$ 143
Unfunded loans accepted by financial advisors and certain key revenue producers
Commitments [Line Items]
Amount of commitment	82
Commitment to lend to RJTCF
Commitments [Line Items]
Amount of commitment	225
Cash funded to invest in loans or investments in project partnerships	$ 69
Number of days that investments in project partnerships typically sold	90 days
Independent venture capital or private equity investment commitment
Commitments [Line Items]
Amount of commitment	$ 18
Forward GNMA MBS purchase commitments
Commitments [Line Items]
Amount of commitment	$ 287
Expected time of purchase (in days)	90 days
Subsidiary of RJ Bank | Commitment to lend to RJTCF
Commitments [Line Items]
Amount of commitment	$ 80
Amount of commitments fulfilled	$ 71

COMMITMENTS, CONTINGENCIES AN_4

COMMITMENTS, CONTINGENCIES AND GUARANTEES, Summary of Commitments to Extend Credit and Other Credit-Related Off-Balance Sheet Financial Instruments Outstanding (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Open-end consumer lines of credit (primarily SBL)	$ 7,684	$ 7,332
Commercial lines of credit	1,555	1,643
Unfunded loan commitments	567	541
Standby letters of credit	$ 45	$ 41

COMMITMENTS, CONTINGENCIES AN_5

COMMITMENTS, CONTINGENCIES AND GUARANTEES, Guarantees (Details)	3 Months Ended
	Dec. 31, 2018USD ($)
Guarantees [Abstract]
Low-income housing tax credit fund financing asset	$ 10,000,000
Amount of liability related to the low-income housing tax credit fund financing asset	10,000,000
Securities Industry Protection Corporation (SIPC)
Guarantees [Abstract]
SIPC fund securities per customer limit (up to)	500,000
Per customer upper limit claims for cash balances	250,000
Raymond James & Associates Inc
Guarantees [Abstract]
Excess SIPC insured amount upper limit	750,000,000
Excess SIPC Sub-limit per customer cash above basic SIPC	$ 1,900,000
Delivery of certain tax credits and other tax benefits guarantee
Guarantees [Abstract]
Number Of Years Under The Guarantee To Deliver A Certain Amount Of Tax Credits And Other Tax Benefits	4 years
Current exposure of guarantees	$ 10,000,000
Private equity investments | Financial Guarantee
Guarantees [Abstract]
Amount of debt guaranteed, including the undrawn portion of a revolving credit facility	$ 13,000,000

COMMITMENTS, CONTINGENCIES AN_6

COMMITMENTS, CONTINGENCIES AND GUARANTEES, Legal and Regulatory Matters Contingencies (Details) $ in Millions	Dec. 31, 2018USD ($)
Pending litigation | Various lawsuits
Loss Contingencies [Line Items]
Range of loss portion not accrued	$ 125

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS), Schedule of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Oct. 01, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	$ 6,368
Other comprehensive income/(loss):
Balance end of period	6,143
Net investment hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	88	$ 60
Other comprehensive income/(loss):
Other comprehensive income/(loss) before reclassifications and taxes	49	8
Amounts reclassified from accumulated other comprehensive income/(loss), before tax	0	0
Pre-tax net other comprehensive income/(loss)	49	8
Income tax effect	(12)	(2)
Other comprehensive income/(loss) for the period, net of tax	37	6
Balance end of period	125	66
Currency translations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	(111)	(80)
Other comprehensive income/(loss):
Other comprehensive income/(loss) before reclassifications and taxes	(50)	(6)
Amounts reclassified from accumulated other comprehensive income/(loss), before tax	0	0
Pre-tax net other comprehensive income/(loss)	(50)	(6)
Income tax effect	0	0
Other comprehensive income/(loss) for the period, net of tax	(50)	(6)
Balance end of period	(161)	(86)
Subtotal: net investment hedges and currency translations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	(23)	(20)
Other comprehensive income/(loss):
Other comprehensive income/(loss) before reclassifications and taxes	(1)	2
Amounts reclassified from accumulated other comprehensive income/(loss), before tax	0	0
Pre-tax net other comprehensive income/(loss)	(1)	2
Income tax effect	(12)	(2)
Other comprehensive income/(loss) for the period, net of tax	(13)	0
Balance end of period	(36)	(20)
Available- for-sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	(46)	(2)
Other comprehensive income/(loss):
Other comprehensive income/(loss) before reclassifications and taxes	32	(16)
Amounts reclassified from accumulated other comprehensive income/(loss), before tax	0	0
Pre-tax net other comprehensive income/(loss)	32	(16)
Income tax effect	(10)	4
Other comprehensive income/(loss) for the period, net of tax	22	(12)
Balance end of period	(28)	(14)
Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	42	7
Other comprehensive income/(loss):
Other comprehensive income/(loss) before reclassifications and taxes	(24)	7
Amounts reclassified from accumulated other comprehensive income/(loss), before tax	(1)	1
Pre-tax net other comprehensive income/(loss)	(25)	8
Income tax effect	8	(1)
Other comprehensive income/(loss) for the period, net of tax	(17)	7
Balance end of period	25	14
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of year	(27)	(15)
Other comprehensive income/(loss):
Other comprehensive income/(loss) before reclassifications and taxes	7	(7)
Amounts reclassified from accumulated other comprehensive income/(loss), before tax	(1)	1
Pre-tax net other comprehensive income/(loss)	6	(6)
Income tax effect	(14)	1
Other comprehensive income/(loss) for the period, net of tax	(8)	(5)
Balance end of period	$ (39)	$ (20)
Accounting Standards Update 2016-01 | Net investment hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption of ASU 2016-01, net of tax			$ 0
Accounting Standards Update 2016-01 | Currency translations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption of ASU 2016-01, net of tax			0
Accounting Standards Update 2016-01 | Subtotal: net investment hedges and currency translations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption of ASU 2016-01, net of tax			0
Accounting Standards Update 2016-01 | Available- for-sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption of ASU 2016-01, net of tax			(4)
Accounting Standards Update 2016-01 | Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption of ASU 2016-01, net of tax			0
Accounting Standards Update 2016-01 | Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of adoption of ASU 2016-01, net of tax			$ (4)

REVENUES, Disaggregation of Rev

REVENUES, Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Principal transactions	$ 76	$ 97
Other	1,688	1,534
All other	18	19
Interest income	316	232
Total revenues	2,004	1,766
Interest expense	(73)	(40)
Net revenues	1,931	1,726
Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	865	729
Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	464	513
Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	388	416
Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	160	179
Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	104	111
Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	124	126
Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	185	171
Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	81	80
RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	69	62
Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	35	29
Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	137	88
Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	35	24
Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	83	43
Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	19	21
Total other
Disaggregation of Revenue [Line Items]
Other	37	33
Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	19	14
Operating segments | Private Client Group
Disaggregation of Revenue [Line Items]
Principal transactions	19	20
Other	1,310	1,195
All other	7	9
Interest income	56	43
Total revenues	1,366	1,238
Interest expense	(10)	(5)
Net revenues	1,356	1,233
Operating segments | Private Client Group | Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	707	591
Operating segments | Private Client Group | Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	364	396
Operating segments | Private Client Group | Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	345	376
Operating segments | Private Client Group | Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	157	175
Operating segments | Private Client Group | Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	104	111
Operating segments | Private Client Group | Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	84	90
Operating segments | Private Client Group | Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	225	192
Operating segments | Private Client Group | Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	83	81
Operating segments | Private Client Group | RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	109	82
Operating segments | Private Client Group | Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	33	29
Operating segments | Private Client Group | Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	7	7
Operating segments | Private Client Group | Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	7	7
Operating segments | Private Client Group | Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Private Client Group | Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Private Client Group | Total other
Disaggregation of Revenue [Line Items]
Other	7	9
Operating segments | Private Client Group | Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Capital Markets
Disaggregation of Revenue [Line Items]
Principal transactions	57	77
Other	251	216
All other	2	1
Interest income	10	7
Total revenues	261	223
Interest expense	(8)	(6)
Net revenues	253	217
Operating segments | Capital Markets | Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2	2
Operating segments | Capital Markets | Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	99	117
Operating segments | Capital Markets | Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	42	40
Operating segments | Capital Markets | Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2	2
Operating segments | Capital Markets | Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Capital Markets | Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	40	38
Operating segments | Capital Markets | Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	1
Operating segments | Capital Markets | Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Capital Markets | RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Capital Markets | Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	1
Operating segments | Capital Markets | Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	129	81
Operating segments | Capital Markets | Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	27	17
Operating segments | Capital Markets | Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	83	43
Operating segments | Capital Markets | Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	19	21
Operating segments | Capital Markets | Total other
Disaggregation of Revenue [Line Items]
Other	21	15
Operating segments | Capital Markets | Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	19	14
Operating segments | Asset Management
Disaggregation of Revenue [Line Items]
Principal transactions	0	0
Other	173	151
All other	0	0
Interest income	1	0
Total revenues	174	151
Interest expense	0	0
Net revenues	174	151
Operating segments | Asset Management | Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	161	141
Operating segments | Asset Management | Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	3	3
Operating segments | Asset Management | Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3	3
Operating segments | Asset Management | Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3	3
Operating segments | Asset Management | Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	9	7
Operating segments | Asset Management | Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1	1
Operating segments | Asset Management | RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1	1
Operating segments | Asset Management | Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	7	5
Operating segments | Asset Management | Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Total other
Disaggregation of Revenue [Line Items]
Other	0	0
Operating segments | Asset Management | Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank
Disaggregation of Revenue [Line Items]
Principal transactions	1	0
Other	6	2
All other	5	2
Interest income	239	176
Total revenues	245	178
Interest expense	(42)	(13)
Net revenues	203	165
Operating segments | RJ Bank | Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	1	0
Operating segments | RJ Bank | Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Total other
Disaggregation of Revenue [Line Items]
Other	5	2
Operating segments | RJ Bank | Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other
Disaggregation of Revenue [Line Items]
Principal transactions	0	0
Other	5	8
All other	4	8
Interest income	16	8
Total revenues	21	16
Interest expense	(19)	(19)
Net revenues	2	(3)
Operating segments | Other | Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	0	0
Operating segments | Other | Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1	0
Operating segments | Other | Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1	0
Operating segments | Other | Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other | Total other
Disaggregation of Revenue [Line Items]
Other	4	8
Operating segments | Other | Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Principal transactions	(1)	0
Other	(57)	(38)
All other	0	(1)
Interest income	(6)	(2)
Total revenues	(63)	(40)
Interest expense	6	3
Net revenues	(57)	(37)
Intersegment eliminations | Asset management and related administrative fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(5)	(5)
Intersegment eliminations | Total brokerage revenues
Disaggregation of Revenue [Line Items]
Other	(3)	(3)
Intersegment eliminations | Subtotal securities commissions
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(2)	(3)
Intersegment eliminations | Mutual and other fund products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(2)	(1)
Intersegment eliminations | Insurance and annuity products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations | Equities and fixed income products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	(2)
Intersegment eliminations | Total account and service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(49)	(29)
Intersegment eliminations | Mutual fund and annuity service fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(3)	(2)
Intersegment eliminations | RJBDP fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(41)	(21)
Intersegment eliminations | Client account and other fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(5)	(6)
Intersegment eliminations | Total investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations | Equity underwriting
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations | Merger & acquisition and advisory
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations | Fixed income investment banking
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations | Total other
Disaggregation of Revenue [Line Items]
Other	0	(1)
Intersegment eliminations | Tax credit fund revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 0	$ 0

REVENUES, Additional Informatio

REVENUES, Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	$ 1,688	$ 1,534
Professional fees	22	12
Other expense	73	59
Receivables related to contracts with customers	326		$ 384
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Professional fees	6
Other expense	2
Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	37	33
Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	137	88
Investment banking | Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	6
Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	185	171
Account and service fees | Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	2
Operating segments | Private Client Group
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	1,310	1,195
Operating segments | Private Client Group | Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	7	9
Operating segments | Private Client Group | Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	7	7
Operating segments | Private Client Group | Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	225	192
Operating segments | Capital Markets
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	251	216
Operating segments | Capital Markets | Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	21	15
Operating segments | Capital Markets | Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	129	81
Operating segments | Capital Markets | Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	0	1
Operating segments | Asset Management
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	173	151
Operating segments | Asset Management | Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	0	0
Operating segments | Asset Management | Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	0	0
Operating segments | Asset Management | Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	9	7
Operating segments | RJ Bank
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	6	2
Operating segments | RJ Bank | Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	5	2
Operating segments | RJ Bank | Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	0	0
Operating segments | RJ Bank | Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	0	0
Operating segments | Other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	5	8
Operating segments | Other | Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	4	8
Operating segments | Other | Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	1	0
Operating segments | Other | Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	(57)	(38)
Intersegment eliminations | Total other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Noninterest Income	0	(1)
Intersegment eliminations | Investment banking
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	0	0
Intersegment eliminations | Account and service fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue from contract with customer	$ (49)	$ (29)

INTEREST INCOME AND INTEREST _3

INTEREST INCOME AND INTEREST EXPENSE (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest income:
Cash segregated pursuant to regulations	$ 14	$ 12
Trading instruments	7	5
Available-for-sale securities	16	11
Margin loans	32	24
Bank loans, net of unearned income	214	160
Loans to financial advisors	4	4
Corporate cash and all other	29	16
Total interest income	316	232
Interest expense:
Bank deposits	35	8
Trading instruments sold but not yet purchased	2	2
Brokerage client payables	6	3
Other borrowings	6	6
Senior notes payable	18	18
Other	6	3
Total interest expense	73	40
Net interest income	243	192
Bank loan loss provision	(16)	(1)
Net interest income after bank loan loss provision	$ 227	$ 191

SHARE-BASED AND OTHER COMPENSAT

SHARE-BASED AND OTHER COMPENSATION, Share-based Compensation Plans (Details) - Stock Incentive Plan 2012 $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2018USD ($)plan$ / sharesshares	Dec. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | plan	1
Employees and Outside Members of the Board of Directors | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted during period (in shares) | shares	1,400,000
RSUs granted during period, weighted-average grant-date fair value (in usd per share) | $ / shares	$ 76.22
Employees and Member of the Board of Directors | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense for restricted equity awards	$ 38	$ 30
Total pre-tax compensation costs not yet recognized, net of forfeitures	$ 199
Compensation costs not yet recognized, period of recognition	3 years 3 months

REGULATIONS AND CAPITAL REQUI_3

REGULATIONS AND CAPITAL REQUIREMENTS (Details) - USD ($) $ in Millions	Jan. 01, 2016	Dec. 31, 2018	Sep. 30, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital required for capital adequacy ratio, capital conservation buffer, annual increase (in hundredths)	0.625%
Capital required for capital adequacy ratio, capital conservation buffer, maximum (in hundredths)	2.50%
Raymond James Financial Inc
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, amount		$ 5,499	$ 5,718
Actual, ratio (in hundredths)		23.60%	24.30%
Requirement for capital adequacy purposes, amount		$ 1,047	$ 1,057
Requirement for capital adequacy purposes, ratio (in hundredths)		4.50%	4.50%
To be well capitalized under regulatory provisions, amount		$ 1,513	$ 1,527
To be well capitalized under regulatory provisions, ratio (in hundredths)		6.50%	6.50%
Tier 1 Capital (to Risk-Weighted Assets)
Actual, amount		$ 5,499	$ 5,718
Actual, ratio (in hundredths)		23.60%	24.30%
Requirement for capital adequacy purposes, amount		$ 1,397	$ 1,410
Requirement for capital adequacy purposes, ratio (in hundredths)		6.00%	6.00%
To be well capitalized under regulatory provisions, amount		$ 1,862	$ 1,880
To be well capitalized under regulatory provisions, ratio (in hundredths)		8.00%	8.00%
Total Capital (to Risk-Weighted Assets)
Actual, amount		$ 5,738	$ 5,941
Actual, ratio (in hundredths)		24.70%	25.30%
Requirement for capital adequacy purposes, amount		$ 1,862	$ 1,880
Requirement for capital adequacy purposes, ratio (in hundredths)		8.00%	8.00%
To be well capitalized under regulatory provisions, amount		$ 2,328	$ 2,350
To be well capitalized under regulatory provisions, ratio (in hundredths)		10.00%	10.00%
Tier 1 leverage
Actual, amount		$ 5,499	$ 5,718
Actual, ratio (in hundredths)		14.60%	15.80%
Requirement for capital adequacy purposes, amount		$ 1,508	$ 1,451
Requirement for capital adequacy purposes, ratio (in hundredths)		4.00%	4.00%
To be well capitalized under regulatory provisions, amount		$ 1,885	$ 1,814
To be well capitalized under regulatory provisions, ratio (in hundredths)		5.00%	5.00%
RJ Bank
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, amount		$ 2,076	$ 2,029
Actual, ratio (in hundredths)		12.70%	12.70%
Requirement for capital adequacy purposes, amount		$ 736	$ 721
Requirement for capital adequacy purposes, ratio (in hundredths)		4.50%	4.50%
To be well capitalized under regulatory provisions, amount		$ 1,064	$ 1,042
To be well capitalized under regulatory provisions, ratio (in hundredths)		6.50%	6.50%
Tier 1 Capital (to Risk-Weighted Assets)
Actual, amount		$ 2,076	$ 2,029
Actual, ratio (in hundredths)		12.70%	12.70%
Requirement for capital adequacy purposes, amount		$ 982	$ 961
Requirement for capital adequacy purposes, ratio (in hundredths)		6.00%	6.00%
To be well capitalized under regulatory provisions, amount		$ 1,309	$ 1,282
To be well capitalized under regulatory provisions, ratio (in hundredths)		8.00%	8.00%
Total Capital (to Risk-Weighted Assets)
Actual, amount		$ 2,280	$ 2,229
Actual, ratio (in hundredths)		13.90%	13.90%
Requirement for capital adequacy purposes, amount		$ 1,309	$ 1,282
Requirement for capital adequacy purposes, ratio (in hundredths)		8.00%	8.00%
To be well capitalized under regulatory provisions, amount		$ 1,637	$ 1,602
To be well capitalized under regulatory provisions, ratio (in hundredths)		10.00%	10.00%
Tier 1 leverage
Actual, amount		$ 2,076	$ 2,029
Actual, ratio (in hundredths)		8.50%	8.80%
Requirement for capital adequacy purposes, amount		$ 974	$ 926
Requirement for capital adequacy purposes, ratio (in hundredths)		4.00%	4.00%
To be well capitalized under regulatory provisions, amount		$ 1,217	$ 1,158
To be well capitalized under regulatory provisions, ratio (in hundredths)		5.00%	5.00%
Raymond James & Associates Inc
Alternative Method Elected [Abstract]
Net capital as a percent of aggregate debit items (in hundredths)		36.69%	28.22%
Net capital		$ 1,052	$ 934
Less: required net capital		(57)	(66)
Excess net capital		$ 995	$ 868

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income for basic earnings per common share:
Net income attributable to RJF	$ 249	$ 119
Less allocation of earnings and dividends to participating securities	0	0
Net income attributable to RJF common shareholders	249	119
Income for diluted earnings per common share:
Net income attributable to RJF	249	119
Less allocation of earnings and dividends to participating securities	0	0
Net income attributable to RJF common shareholders	$ 249	$ 119
Common shares:
Average common shares in basic computation (in shares)	144.2	144.5
Dilutive effect of outstanding stock options and certain restricted stock units (in shares)	3.1	3.8
Average common shares used in diluted computation (in shares)	147.3	148.3
Earnings per common share:
Basic (in dollars per share)	$ 1.73	$ 0.82
Diluted (in dollars per share)	$ 1.69	$ 0.80
Stock options and certain restricted stock units excluded from weighted-average diluted common shares because their effect would be antidilutive (in shares)	1.8	1.4
Dividends per common share declared and paid: [Abstract]
Dividends per common share - declared (in dollars per share)	$ 0.34	$ 0.25
Dividends per common share - paid (in dollars per share)	$ 0.30	$ 0.22

SEGMENT INFORMATION, Informatio

SEGMENT INFORMATION, Information Concerning Operations (Details) $ in Millions	3 Months Ended
	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Sep. 30, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	5
Revenues:
Revenue from contract with customer	$ 2,004	$ 1,766
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	332	311
Net loss attributable to noncontrolling interests	(2)	0
Income including noncontrolling interests and before provision for income taxes	330	311
Net interest income (expense):
Net interest income	243	192
Total assets:
Total assets	38,544		$ 37,413
Goodwill:
Goodwill	476		478
Private Client Group
Goodwill:
Goodwill	275		276
Capital Markets
Goodwill:
Goodwill	132		133
Operating segments | Private Client Group
Revenues:
Revenue from contract with customer	1,366	1,238
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	164	155
Net interest income (expense):
Net interest income	46	38
Total assets:
Total assets	9,751		10,173
Operating segments | Capital Markets
Revenues:
Revenue from contract with customer	261	223
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	12	5
Net interest income (expense):
Net interest income	2	1
Total assets:
Total assets	2,202		2,279
Operating segments | Asset Management
Revenues:
Revenue from contract with customer	174	151
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	64	57
Net interest income (expense):
Net interest income	1	0
Total assets:
Total assets	389		387
Goodwill:
Goodwill	69		69
Operating segments | RJ Bank
Revenues:
Revenue from contract with customer	245	178
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	110	114
Net interest income (expense):
Net interest income	197	163
Total assets:
Total assets	24,901		22,922
Operating segments | Other
Revenues:
Revenue from contract with customer	21	16
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	(18)	(20)
Total assets:
Total assets	1,301		$ 1,652
Intersegment eliminations
Revenues:
Revenue from contract with customer	(63)	(40)
Intersegment eliminations | Other
Net interest income (expense):
Net interest income	$ (3)	$ (10)

SEGMENT INFORMATION, Classified

SEGMENT INFORMATION, Classified by Major Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Revenues:
Revenue from contract with customer	$ 2,004	$ 1,766
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	332	311
Total assets:
Total assets	38,544		$ 37,413
Goodwill:
Goodwill	476		478
U.S.
Revenues:
Revenue from contract with customer	1,857	1,634
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	330	305
Total assets:
Total assets	35,806		34,651
Goodwill:
Goodwill	426		426
Canada
Revenues:
Revenue from contract with customer	111	99
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	16	9
Total assets:
Total assets	2,653		2,673
Goodwill:
Goodwill	41		43
Europe
Revenues:
Revenue from contract with customer	36	33
Pre-tax income excluding noncontrolling interests
Pre-tax income excluding noncontrolling interests	(14)	$ (3)
Disposition-related expenses for loss on sale of operations	15
Total assets:
Total assets	85		89
Goodwill:
Goodwill	$ 9		$ 9