Long-term Debt

The following table presents the composition of our long-term debt portfolio.



	June 30, 2014						December 31, 2013
($ in millions)	Unsecured		Secured		Total		Unsecured		Secured		Total
Long-term debt
Due within one year	$	6,634	$	12,577	$	19,211	$	5,321	$	11,851	$	17,172
Due after one year (a)	16,047		32,155		48,202		21,425		30,423		51,848
Fair value adjustment (b)	500		—		500		445		—		445
Total long-term debt	$	23,181	$	44,732	$	67,913	$	27,191	$	42,274	$	69,465


(a)	Includes $2.6 billion and $2.6 billion of trust preferred securities at June 30, 2014 and December 31, 2013, respectively.


(b)	Represents the fair value adjustment associated with the application of hedge accounting on certain of our long-term unsecured debt positions. Refer to Note 19 for additional information.

The following table presents the scheduled remaining maturity of long-term debt, assuming no early redemptions will occur. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.



Year ended December 31, ($ in millions)	2014			2015			2016			2017			2018			2019 and thereafter			Fair value adjustment		Total
Unsecured
Long-term debt	$	1,760		$	5,026		$	1,934		$	4,059		$	1,278		$	10,115		$	500	$	24,672
Original issue discount	(90		)	(57		)	(66		)	(78		)	(92		)	(1,108		)	—		(1,491		)
Total unsecured	1,670			4,969			1,868			3,981			1,186			9,007			500		23,181
Secured
Long-term debt	5,328			13,891			11,116			8,218			3,395			2,784			—		44,732
Total long-term debt	$	6,998		$	18,860		$	12,984		$	12,199		$	4,581		$	11,791		$	500	$	67,913

The following summarizes assets restricted as collateral for the payment of the related debt obligation primarily arising from securitization transactions accounted for as secured borrowings and repurchase agreements.



	June 30, 2014				December 31, 2013
($ in millions)	Total		Ally Bank (a)		Total		Ally Bank (a)
Investment securities	$	289	$	289	$	2,864	$	2,864
Mortgage finance receivables and loans	7,958		7,958		8,524		8,524
Consumer automobile finance receivables	35,443		13,176		32,947		12,332
Commercial automobile finance receivables	20,741		20,097		21,249		21,249
Investment in operating leases, net	4,931		3,614		5,810		3,190
Other assets	—		—		563		—
Total assets restricted as collateral (b)	$	69,362	$	45,134	$	71,957	$	48,159
Secured debt (c)	$	47,761	$	26,038	$	47,594	$	27,818


(a)	Ally Bank is a component of the total column.

(b)

Ally Bank has an advance agreement with the Federal Home Loan Bank of Pittsburgh (FHLB) and had assets pledged to secure borrowings that were restricted as collateral to the FHLB totaling $10.9 billion and $12.7 billion at June 30, 2014, and December 31, 2013, respectively. These assets were composed primarily of consumer mortgage finance receivables and loans, net. Ally Bank has access to the Federal Reserve Bank Discount Window. Ally Bank had assets pledged and restricted as collateral to the Federal Reserve Bank totaling $3.0 billion and $3.2 billion at June 30, 2014, and December 31, 2013, respectively. These assets were composed of consumer automobile finance receivables and loans, net and investment in operating leases, net. Availability under these programs is only for the operations of Ally Bank and cannot be used to fund the operations or liabilities of Ally or its subsidiaries.


(c)	Includes $3.0 billion and $5.3 billion of short-term borrowings at June 30, 2014, and December 31, 2013, respectively.

Funding Facilities

We utilize both committed and other credit facilities. The amounts outstanding under our various funding facilities are included on our Condensed Consolidated Balance Sheet.

As of June 30, 2014, Ally Bank had exclusive access to $3.5 billion of funding capacity from committed credit facilities. Funding programs supported by the Federal Reserve and the FHLB, together with repurchase agreements, complement Ally Bank’s private committed facilities.

The total capacity in our committed funding facilities is provided by banks and other financial institutions through private transactions. The committed secured funding facilities can be revolving in nature and allow for additional funding during the commitment period, or they can be amortizing and not allow for any further funding after the closing date. At June 30, 2014, $20.9 billion of our $23.1 billion of committed capacity was revolving. Our revolving facilities generally have an original tenor ranging from 364 days to two years. As of June 30, 2014, we had $11 billion of committed funding capacity from revolving facilities with a remaining tenor greater than 364 days.

Committed Funding Facilities



	Outstanding				Unused Capacity (a)				Total Capacity
($ in millions)	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
Bank funding
Secured	$	2,500	$	2,750	$	1,000	$	250	$	3,500	$	3,000
Parent funding
Secured (b)	16,009		15,159		3,617		6,497		19,626		21,656
Total committed facilities	$	18,509	$	17,909	$	4,617	$	6,747	$	23,126	$	24,656


(a)	Funding from committed secured facilities is available on request in the event excess collateral resides in certain facilities or is available to the extent incremental collateral is available and contributed to the facilities.


(b)	Includes the secured facility of Corporate Finance at December 31, 2013.