Debt (Tables)

3 Months Ended

Mar. 31, 2019

The following table presents the composition of our short-term borrowings portfolio.



	March 31, 2019						December 31, 2018
($ in millions)	Unsecured		Secured (a)		Total		Unsecured		Secured (a)		Total
Demand notes	$	2,486	$	—	$	2,486	$	2,477	$	—	$	2,477
Federal Home Loan Bank	—		2,775		2,775		—		6,825		6,825
Securities sold under agreements to repurchase	—		854		854		—		685		685
Total short-term borrowings	$	2,486	$	3,629	$	6,115	$	2,477	$	7,510	$	9,987


(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.



	March 31, 2019						December 31, 2018
($ in millions)	Unsecured		Secured		Total		Unsecured		Secured		Total
Long-term debt (a)
Due within one year	$	2,630	$	6,948	$	9,578	$	1,663	$	7,313	$	8,976
Due after one year	8,708		23,204		31,912		10,444		24,773		35,217
Total long-term debt (b) (c)	$	11,338	$	30,152	$	41,490	$	12,107	$	32,086	$	44,193


(a)	Includes basis adjustments related to the application of hedge accounting. Refer to Note 17 for additional information.


(b)	Includes $2.6 billion of trust preferred securities at both March 31, 2019, and December 31, 2018.


(c)	Includes advances net of hedge basis adjustment from the FHLB of Pittsburgh of $14.7 billion and $14.9 billion at March 31, 2019, and December 31, 2018, respectively.

Scheduled of Maturities of Long-term Debt

The following table presents the scheduled remaining maturity of long-term debt at March 31, 2019, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.



($ in millions)	2019			2020			2021			2022			2023			2024 and thereafter			Total
Unsecured
Long-term debt	$	917		$	2,258		$	697		$	1,075		$	12		$	7,504		$	12,463
Original issue discount	(31		)	(41		)	(45		)	(49		)	(56		)	(903		)	(1,125		)
Total unsecured	886			2,217			652			1,026			(44		)	6,601			11,338
Secured
Long-term debt	4,998			6,909			10,185			6,008			1,236			816			30,152
Total long-term debt	$	5,884		$	9,126		$	10,837		$	7,034		$	1,192		$	7,417		$	41,490

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.



	March 31, 2019					December 31, 2018
($ in millions)	Total (a)			Ally Bank		Total (a)			Ally Bank
Investment securities (b)	$	5,243		$	4,357	$	10,280		$	9,564
Mortgage assets held-for-investment and lending receivables	17,447			17,447		16,498			16,498
Consumer automotive finance receivables	15,882			9,777		17,015			9,715
Commercial automotive finance receivables	14,269			14,269		15,563			15,563
Operating leases	132			—		170			—
Total assets restricted as collateral (c) (d)	$	52,973		$	45,850	$	59,526		$	51,340
Secured debt	$	33,781	(e)	$	27,233	$	39,596	(e)	$	32,072


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


(b)	A portion of the restricted investment securities at March 31, 2019, and December 31, 2018, 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 $26.6 billion and $30.8 billion at March 31, 2019, and December 31, 2018, 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 at both March 31, 2019, and December 31, 2018. 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 $3.6 billion and $7.5 billion of short-term borrowings at March 31, 2019, and December 31, 2018, respectively.

Schedule Of Committed Funding Facilities



	Outstanding				Unused capacity (a)				Total capacity
($ in millions)	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Bank funding
Secured	$	3,050	$	3,500	$	700	$	1,300	$	3,750	$	4,800
Parent funding
Secured	2,666		3,165		1,134		635		3,800		3,800
Total committed secured credit facilities	$	5,716	$	6,665	$	1,834	$	1,935	$	7,550	$	8,600


(a)	Funding from committed secured credit 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.