Fair Value (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements - Recurring Basis [Table Text Block]

The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our risk management activities.

	Recurring fair value measurements
June 30, 2015($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	1,483		$	692		$	—	$	2,175
U.S. State and political subdivisions	—			569			—		569
Foreign government	12			188			—		200
Mortgage-backed residential	—			11,640			—		11,640
Mortgage-backed commercial	—			457			—		457
Asset-backed	—			2,055			—		2,055
Corporate debt securities	—			1,058			—		1,058
Total debt securities	1,495			16,659			—		18,154
Equity securities (a)	988			—			—		988
Total available-for-sale securities	2,483			16,659			—		19,142
Mortgage loans held-for-sale, net (b)	—			—			4		4
Other assets
Interests retained in financial asset sales	—			—			32		32
Derivative contracts in a receivable position (c)
Interest rate	3			204			—		207
Foreign currency	—			7			—		7
Total derivative contracts in a receivable position	3			211			—		214
Total assets	$	2,486		$	16,870		$	36	$	19,392
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate	$	(9	)	$	(165	)	$	—	$	(174	)
Other	(2		)	(5		)	—		(7		)
Total derivative contracts in a payable position (c)	(11		)	(170		)	—		(181		)
Total liabilities	$	(11	)	$	(170	)	$	—	$	(181	)

(a) Our investment in any one industry did not exceed 16%.

(b) Carried at fair value due to fair value option elections.

(c) For additional information on derivative instruments and hedging activities, refer to Note 20.

	Recurring fair value measurements
December 31, 2014 ($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	217		$	961		$	—	$	1,178
U.S. State and political subdivisions	—			406			—		406
Foreign government	14			218			—		232
Mortgage-backed residential	—			10,425			—		10,425
Mortgage-backed commercial	—			253			—		253
Asset-backed	—			1,991			—		1,991
Corporate debt securities	—			746			—		746
Total debt securities	231			15,000			—		15,231
Equity securities (a)	906			—			—		906
Total available-for-sale securities	1,137			15,000			—		16,137
Mortgage loans held-for-sale, net (b)	—			—			3		3
Other assets
Interests retained in financial asset sales	—			—			47		47
Derivative contracts in a receivable position (c)
Interest rate	4			252			—		256
Foreign currency	—			5			—		5
Other	2			—			—		2
Total derivative contracts in a receivable position	6			257			—		263
Collateral placed with counterparties (d)	—			15			—		15
Total assets	$	1,143		$	15,272		$	50	$	16,465
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (c)
Interest rate	$	(2	)	$	(166	)	$	—	$	(168	)
Foreign currency	—			(78		)	—		(78		)
Other	(2		)	(4		)	—		(6		)
Total derivative contracts in a payable position	(4		)	(248		)	—		(252		)
Total liabilities	$	(4	)	$	(248	)	$	—	$	(252	)

(a) Our investment in any one industry did not exceed 16%.

(b) Carried at fair value due to fair value option elections.

(c) For additional information on derivative instruments and hedging activities, refer to Note 20.

(d) Represents collateral in the form of investment securities. Cash collateral was excluded.

Fair Value Measurements - Reconciliation of Level 3 Assets and Liabilities [Table Text Block]

The following tables present the reconciliation for all Level 3 assets and liabilities measured at fair value on a recurring basis. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The Level 3 items presented below may be hedged by derivatives and other financial instruments that are classified as Level 1 or Level 2. Thus, the following tables do not fully reflect the impact of our risk management activities.

	Level 3 recurring fair value measurements
			Net realized/unrealized gains																Fair value at June 30, 2015		Net unrealized gains included in earnings still held at June 30, 2015
($ in millions)	Fair value at April 1, 2015		included in earnings			included in OCI		Purchases		Sales		Issuances		Settlements			Transfers out of Level 3
Assets
Mortgage loans held-for-sale, net	$	3	$	1	(a)	$	—	$	—	$	—	$	—	$	—		$	—	$	4	$	1
Other assets
Interests retained in financial asset sales	42		4		(a)	—		—		—		—		(14		)	—		32		—
Total assets	$	45	$	5		$	—	$	—	$	—	$	—	$	(14	)	$	—	$	36	$	1

(a) Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

	Level 3 recurring fair value measurements
	Fair value at April 1, 2014		Net realized/unrealized gains					Purchases		Sales		Issuances		Settlements			Transfers out of Level 3		Fair value at June 30, 2014		Net unrealized gains included in earnings still held at June 30, 2014
($ in millions)			included in earnings			included in OCI
Assets
Other assets
Interests retained in financial asset sales	$	84	$	4	(a)	$	—	$	—	$	—	$	—	$	(14	)	$	—	$	74	$	—
Total assets	$	84	$	4		$	—	$	—	$	—	$	—	$	(14	)	$	—	$	74	$	—

(a)    Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

	Level 3 recurring fair value measurements
	Fair Value at Jan. 1, 2015		Net realized/unrealized gains					Purchases		Sales		Issuances		Settlements			Transfers out of Level 3		Fair value  at June 30, 2015		Net unrealized gains included in earnings still held at June 30, 2015
($ in millions)			included in  earnings			included in OCI
Assets
Mortgage loans held-for-sale, net	$	3	$	1	(a)	$	—	$	—	$	—	$	—	$	—		$	—	$	4	$	1
Other assets
Interests retained in financial asset sales	47		7		(a)	—		—		—		1		(23		)	—		32		—
Total assets	$	50	$	8		$	—	$	—	$	—	$	1	$	(23	)	$	—	$	36	$	1

(a) Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

	Level 3 recurring fair value measurements
	Fair Value at Jan. 1, 2014			Net realized/unrealized gains					Purchases		Sales		Issuances		Settlements			Transfers out of level 3		Fair value  at  June 30, 2014		Net unrealized gains included in earnings still held at June 30, 2014
($ in millions)				included in  earnings			included in OCI
Assets
Other assets
Interests retained in financial asset sales	$	100		$	5	(a)	$	—	$	—	$	—	$	—	$	(31	)	$	—	$	74	$	—
Derivative contracts, net	(1		)	—			—		—		—		—		(2		)	3		—		—
Total assets	$	99		$	5		$	—	$	—	$	—	$	—	$	(33	)	$	3	$	74	$	—

(a) Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

Fair Value Measurements - Nonrecurring Basis [Table Text Block]

The following tables display the assets and liabilities measured at fair value on a nonrecurring basis.

	Nonrecurring fair value measurements								Lower-of-cost or fair value or valuation reserve allowance			Total gain included in earnings for the three months ended		Total gain included in earnings for the six months ended
June 30, 2015($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale, net
Automotive	$	—	$	—	$	1,356	$	1,356	$	(12	)	n/m	(a)	n/m	(a)
Mortgage	—		—		10		10		(1		)	n/m	(a)	n/m	(a)
Other	—		—		36		36		—			n/m	(a)	n/m	(a)
Total loans held-for-sale, net	—		—		1,402		1,402		(13		)	n/m	(a)	n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		24		24		(8		)	n/m	(a)	n/m	(a)
Other	—		—		34		34		(11		)	n/m	(a)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		58		58		(19		)	n/m	(a)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		10		10		(3		)	n/m	(a)	n/m	(a)
Other	—		—		2		2		—			n/m	(a)	n/m	(a)
Total assets	$	—	$	—	$	1,472	$	1,472	$	(35	)	n/m		n/m

n/m = not meaningful

(a) We consider the applicable valuation or loan loss allowance to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation or loan loss allowance.

(b) Represents the portion of the portfolio specifically impaired during 2015. The related valuation allowance represents the cumulative adjustment to fair value of those specific receivables.

(c) The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

	Nonrecurring fair value measurements								Lower-of-cost or fair value or valuation reserve allowance			Total gain included in earnings for the three months ended			Total gain included in earnings for the six months ended
June 30, 2014 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Commercial finance receivables and loans, net (a)
Automotive	$	—	$	—	$	26	$	26	$	(2	)	n/m		(b)	n/m		(b)
Other	—		—		38		38		(14		)	n/m		(b)	n/m		(b)
Total commercial finance receivables and loans, net	—		—		64		64		(16		)	n/m		(b)	n/m		(b)
Other assets
Repossessed and foreclosed assets (c)	—		—		7		7		(1		)	n/m		(b)	n/m		(b)
Other	—		—		2		2		—			$	2		$	2
Total assets	$	—	$	—	$	73	$	73	$	(17	)	n/m			n/m

n/m = not meaningful

(a) Represents the portion of the portfolio specifically impaired during 2014. The related valuation allowance represents the cumulative adjustment to fair value of those specific receivables.

(b) We consider the applicable valuation or loan loss allowance to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation or loan loss allowance.

(c) The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

Fair Value Measurements - Nonrecurring Fair Value Inputs [Table Text Block]

The following table presents quantitative information regarding the significant unobservable inputs used in significant Level 3 assets measured at fair value on a nonrecurring basis.

June 30, 2015($ in millions)	Level 3 nonrecurring measurements		Valuation technique	Unobservable input	Weighted average/range
Assets
Automotive loans held-for-sale, net	$	1,356	Discounted cash flow	Prepayment rate	1.30%
				Gross loss	0-4.50%
				Credit spread	0-6.70%

Fair Value of Financial Intruments [Table Text Block]

The following table presents the carrying and estimated fair value of financial instruments, except for those recorded at fair value on a recurring basis presented in the previous section of this note titled Recurring Fair Value. When possible, we use quoted market prices to determine fair value. Where quoted market prices are not available, the fair value is internally derived based on appropriate valuation methodologies with respect to the amount and timing of future cash flows and estimated discount rates. However, considerable judgment is required in interpreting market data to develop estimates of fair value, so the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. The effect of using different market assumptions or estimation methodologies could be material to the estimated fair values. Fair value information presented herein was based on information available at June 30, 2015 and December 31, 2014.

			Estimated fair value
($ in millions)	Carrying value		Level 1		Level 2		Level 3		Total
June 30, 2015
Financial assets
Loans held-for-sale, net	$	1,438	$	—	$	—	$	1,446	$	1,446
Finance receivables and loans, net	104,199		—		—		105,110		105,110
Nonmarketable equity investments	359		—		333		41		374
Financial liabilities
Deposit liabilities	$	61,947	$	—	$	—	$	62,449	$	62,449
Short-term borrowings	10,013		—		—		10,013		10,013
Long-term debt	65,852		—		21,778		46,247		68,025
December 31, 2014
Financial assets
Loans held-for-sale, net	$	2,003	$	—	$	485	$	1,554	$	2,039
Finance receivables and loans, net	98,971		—		—		99,430		99,430
Nonmarketable equity investments	271		—		246		33		279
Financial liabilities
Deposit liabilities	$	58,222	$	—	$	—	$	58,777	$	58,777
Short-term borrowings	7,062		—		—		7,063		7,063
Long-term debt	66,558		—		25,224		44,084		69,308