Securitizations and Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2016

Securitizations And Variable Interest Entities [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

The following table presents our involvement in consolidated and nonconsolidated VIEs in which we hold variable interests. For additional detail related to the assets and liabilities of consolidated variable interest entities refer to the Consolidated Balance Sheet.



December 31, ($ in millions)	Net carrying value of total assets			Carrying value of total liabilities			Assets sold to nonconsolidated VIEs (a)		Maximum exposure to loss in nonconsolidated VIEs
2016
On-balance sheet variable interest entities
Consumer automotive	$	20,869	(b)	$	8,557	(c)
Commercial automotive	16,278			4,764
Off-balance sheet variable interest entities
Consumer automotive	24			—			$	2,899	$	2,923	(d)
Commercial other	460		(e)	169		(f)	—		651		(g)
Total	$	37,631		$	13,490		$	2,899	$	3,574
2015
On-balance sheet variable interest entities
Consumer automotive	$	27,967	(b)	$	12,406	(c)
Commercial automotive	16,763			7,982
Off-balance sheet variable interest entities
Consumer automotive	—			—			$	3,034	$	3,034	(d)
Commercial other	210		(e)	—			—		493		(g)
Total	$	44,940		$	20,388		$	3,034	$	3,527


(a)	Asset values represent the current unpaid principal balance of outstanding consumer finance receivables and loans within the VIEs.


(b)	Includes $9.6 billion and $10.6 billion of assets that are not encumbered by VIE beneficial interests held by third parties at December 31, 2016, and December 31, 2015, respectively. Ally or consolidated affiliates hold the interests in these assets, which eliminate in consolidation.


(c)	Includes $50 million and $99 million of liabilities due to consolidated affiliates at December 31, 2016, and December 31, 2015, respectively. These liabilities are not obligations to third-party beneficial interest holders. These liabilities are secured by a portion of the unencumbered assets and eliminate in consolidation.

(d)

Maximum exposure to loss represents the current unpaid principal balance of outstanding loans based on our customary representation and warranty provisions and certain noncertificated interests retained from the sale of automotive finance receivables. This measure is based on the unlikely event that all of the loans have underwriting defects or other defects that trigger a representation and warranty provision and the collateral supporting the loans are worthless. This required disclosure is not an indication of our expected loss.


(e)	Amounts are classified as other assets.


(f)	Amounts are classified as accrued expenses and other liabilities.

(g)

For certain nonconsolidated affordable housing entities, maximum exposure to loss represents the yield we guaranteed investors through long term guarantee contracts. The amount disclosed is based on the unlikely event that the underlying properties cease generating yield to investors and the yield delivered to investors in the form of low income tax housing credits is recaptured. For nonconsolidated equity investments, maximum exposure to loss represents our outstanding investment, additional committed capital, and low income housing tax credits subject to recapture. The amount disclosed is based on the unlikely event that our committed capital is funded, our investments become worthless, and the tax credits previously delivered to us are recaptured. This required disclosure is not an indication of our expected loss.

On-balance Sheet Variable Interest Entities [Table Text Block]

The consolidated VIEs included in the Consolidated Balance Sheet represent separate entities with which we are involved. The third-party investors in the obligations of consolidated VIEs have legal recourse only to the assets of the VIEs and do not have such recourse to us, except for the customary representation and warranty provisions. In addition, the cash flows from the assets are restricted only to pay such liabilities. Thus, our economic exposure to loss from outstanding third-party financing related to consolidated VIEs is significantly less than the carrying value of the consolidated VIE assets. All assets of consolidated VIEs, presented below based upon the legal transfer of the underlying assets in order to reflect legal ownership, are restricted for the benefit of the beneficial interest holders.



December 31, ($ in millions)	2016			2015
Assets
Finance receivables and loans, net
Consumer	$	8,929		$	11,682
Commercial	15,701			16,247
Allowance for loan losses	(173		)	(196		)
Total finance receivables and loans, net	24,457			27,733
Investment in operating leases, net	1,745			4,791
Other assets	1,390			1,624
Total assets	$	27,592		$	34,148
Liabilities
Long-term debt	13,259			20,267
Accrued expenses and other liabilities	12			22
Total liabilities	$	13,271		$	20,289

Schedule Of Cash Flow Received And Paid To Nonconsolidated Securitization Entities [Table Text Block]

The following table summarizes cash flows received and paid related to securitization entities and asset-backed financings where the transfer is accounted for as a sale and we have a continuing involvement with the transferred assets (e.g., servicing) that were outstanding during the years ended December 31, 2016, 2015, and 2014. Additionally, this table contains information regarding cash flows received from and paid to nonconsolidated securitization entities that existed during each period.



Year ended December 31, ($ in millions)	Consumer automotive		Consumer mortgage
2016
Cash proceeds from transfers completed during the period	$	1,715	$	—
Servicing fees	35		—
Other cash flows	8		—
2015
Cash proceeds from transfers completed during the period	$	1,551	$	—
Servicing fees	28		—
2014
Cash proceeds from transfers completed during the period	$	2,594	$	—
Servicing fees	11		—
Representations and warranties obligations	—		(31		)

Schedule of Quantitative Information and Net Credit Losses about Securitized and Other Financial Assets Managed Together [Table Text Block]

The following table represents on-balance sheet loans held-for-sale and finance receivable and loans, off-balance sheet securitizations, and whole-loan sales where we have continuing involvement. The table presents quantitative information about delinquencies and net credit losses.



	Total Amount				Amount 60 days or more past due				Net credit losses
December 31, ($ in millions)	2016		2015		2016		2015		2016			2015
On-balance sheet loans
Consumer automotive	$	65,793	$	64,292	$	730	$	591	$	795		$	578
Consumer mortgage	11,050		9,773		85		108		7			31
Commercial automotive	38,853		34,895		7		—		1			3
Commercial other	3,248		2,745		—		—		(2		)	(3		)
Total on-balance sheet loans	118,944		111,705		822		699		801			609
Off-balance sheet securitization entities
Consumer automotive	2,392		2,529		13		9		8			5
Total off-balance sheet securitization entities	2,392		2,529		13		9		8			5
Whole-loan sales (a)	3,164		2,252		6		13		3			—
Total	$	124,500	$	116,486	$	841	$	721	$	812		$	614


(a)	Whole-loan sales are not part of a securitization transaction, but represent consumer automotive pools of loans sold to third-party investors.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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