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Debt (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following table presents the composition of our short-term borrowings portfolio.
 
 
September 30, 2018
 
December 31, 2017
($ in millions)
 
Unsecured
 
Secured (a)
 
Total
 
Unsecured
 
Secured (a)
 
Total
Demand notes
 
$
2,575

 
$
—

 
$
2,575

 
$
3,171

 
$
—

 
$
3,171

Federal Home Loan Bank
 
—

 
3,525

 
3,525

 
—

 
7,350

 
7,350

Financial instruments sold under agreements to repurchase
 
—

 
1,238

 
1,238

 
—

 
892

 
892

Total short-term borrowings
 
$
2,575

 
$
4,763

 
$
7,338

 
$
3,171

 
$
8,242

 
$
11,413

(a)
Refer to the section below titled Long-term Debt for further details on assets restricted as collateral for payment of the related debt.
Long-term Debt
The following table presents the composition of our long-term debt portfolio.
 
 
September 30, 2018
 
December 31, 2017
($ in millions)
 
Unsecured
 
Secured
 
Total
 
Unsecured
 
Secured
 
Total
Long-term debt
 
 
 
 
 
 
 
 
 
 
 
 
Due within one year
 
$
2,043

 
$
7,619

 
$
9,662

 
$
3,482

 
$
7,499

 
$
10,981

Due after one year (a)
 
11,135

 
24,683

 
35,818

 
11,909

 
21,128

 
33,037

Fair value adjustment (b)
 
135

 
(73
)
 
62

 
240

 
(32
)
 
208

Total long-term debt (c)
 
$
13,313

 
$
32,229

 
$
45,542

 
$
15,631

 
$
28,595

 
$
44,226


(a)
Includes $2.6 billion of trust preferred securities at both September 30, 2018, and December 31, 2017.
(b)
Represents the basis adjustment associated with the application of hedge accounting on certain of our long-term debt positions. Refer to Note 17 for additional information.
(c)
Includes advances from the FHLB of Pittsburgh of $14.0 billion and $10.3 billion at September 30, 2018, and December 31, 2017, respectively.
Scheduled of Maturities of Long-term Debt
The following table presents the scheduled remaining maturity of long-term debt at September 30, 2018, assuming no early redemptions will occur. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)
 
2018
 
2019
 
2020
 
2021
 
2022
 
2023 and thereafter
 
Fair value adjustment
 
Total
Unsecured
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
 
$
1,245

 
$
1,681

 
$
2,251

 
$
679

 
$
1,066

 
$
7,417

 
$
135

 
$
14,474

Original issue discount
 
(26
)
 
(38
)
 
(39
)
 
(43
)
 
(47
)
 
(968
)
 
—

 
(1,161
)
Total unsecured
 
1,219

 
1,643

 
2,212

 
636

 
1,019

 
6,449

 
135

 
13,313

Secured
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
 
1,556

 
7,670

 
7,784

 
8,977

 
4,659

 
1,656

 
(73
)
 
32,229

Total long-term debt
 
$
2,775

 
$
9,313

 
$
9,996

 
$
9,613

 
$
5,678


$
8,105


$
62


$
45,542
Pledged assets for the payment of the related secured borrowings and repurchase agreements
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.
 
 
September 30, 2018
 
December 31, 2017
($ in millions)
 
Total (a)
 
Ally Bank
 
Total (a)
 
Ally Bank
Investment securities (b)
 
$
6,335

 
$
5,487

 
$
8,371

 
$
7,443

Mortgage assets held-for-investment and lending receivables
 
16,299

 
16,299

 
13,579

 
13,579

Consumer automotive finance receivables
 
17,813

 
10,333

 
19,787

 
6,200

Commercial automotive finance receivables
 
14,371

 
14,337

 
16,567

 
16,472

Operating leases
 
213

 
—

 
457

 
—

Total assets restricted as collateral (c) (d)
 
$
55,031

 
$
46,456

 
$
58,761

 
$
43,694

Secured debt
 
$
36,992

(e)
$
29,118

 
$
36,837

(e)
$
23,278

(a)
Ally Bank is a component of the total column.
(b)
A portion of the restricted investment securities at September 30, 2018, and December 31, 2017, were restricted under repurchase agreements. Refer to the section above titled Short-term Borrowings for information on the repurchase agreements.
(c)
Ally Bank has an advance agreement with the FHLB, and had assets pledged to secure borrowings that were restricted as collateral to the FHLB totaling $25.9 billion and $25.2 billion at September 30, 2018, and December 31, 2017, respectively. These assets were composed primarily of consumer mortgage finance receivables and loans and investment securities. Ally Bank has access to the FRB Discount Window. Ally Bank had assets pledged and restricted as collateral to the FRB totaling $2.4 billion and $2.3 billion at September 30, 2018, and December 31, 2017, respectively. These assets were composed of consumer automotive finance receivables and loans. 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.
(d)
Excludes restricted cash and cash reserves for securitization trusts recorded within other assets on the Condensed Consolidated Balance Sheet. Refer to Note 10 for additional information.
(e)
Includes $4.8 billion and $8.2 billion of short-term borrowings at September 30, 2018, and December 31, 2017, respectively
Schedule Of Committed Funding Facilities
 
 
Outstanding
 
Unused capacity (a)
 
Total capacity
($ in millions)
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
Bank funding
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
3,500

 
$
1,785

 
$
—

 
$
890

 
$
3,500

 
$
2,675

Parent funding
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
3,345

 
6,330

 
2,380

 
2,920

 
5,725

 
9,250

Total committed facilities
 
$
6,845

 
$
8,115

 
$
2,380

 
$
3,810

 
$
9,225

 
$
11,925

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