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Debt (Tables)
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following table presents the composition of our short-term borrowings portfolio.
 
 
June 30, 2019
 
December 31, 2018
($ in millions)
 
Unsecured
 
Secured (a)
 
Total
 
Unsecured
 
Secured (a)
 
Total
Demand notes
 
$
2,462

 
$
—

 
$
2,462

 
$
2,477

 
$
—

 
$
2,477

Federal Home Loan Bank
 
—

 
3,625

 
3,625

 
—

 
6,825

 
6,825

Securities sold under agreements to repurchase
 
—

 
432

 
432

 
—

 
685

 
685

Total short-term borrowings
 
$
2,462

 
$
4,057

 
$
6,519

 
$
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.
 
 
June 30, 2019
 
December 31, 2018
($ in millions)
 
Unsecured
 
Secured
 
Total
 
Unsecured
 
Secured
 
Total
Long-term debt (a)
 
 
 
 
 
 
 
 
 
 
 
 
Due within one year
 
$
2,613

 
$
6,714

 
$
9,327

 
$
1,663

 
$
7,313

 
$
8,976

Due after one year
 
9,458

 
18,681

 
28,139

 
10,444

 
24,773

 
35,217

Total long-term debt (b) (c)
 
$
12,071

 
$
25,395

 
$
37,466

 
$
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 June 30, 2019, and December 31, 2018.
(c)
Includes advances net of hedge basis adjustment from the FHLB of Pittsburgh of $14.7 billion and $14.9 billion at June 30, 2019, and December 31, 2018, respectively.
Scheduled of Maturities of Long-term Debt
The following table presents the scheduled remaining maturity of long-term debt at June 30, 2019, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)
 
2019
 
2020
 
2021
 
2022
 
2023
 
2024 and thereafter
 
Total
Unsecured
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
 
$
873

 
$
2,256

 
$
696

 
$
1,084

 
$
11

 
$
8,273

 
$
13,193

Original issue discount
 
(21
)
 
(43
)
 
(46
)
 
(51
)
 
(57
)
 
(904
)
 
(1,122
)
Total unsecured
 
852

 
2,213

 
650

 
1,033

 
(46
)
 
7,369

 
12,071

Secured
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
 
2,963

 
6,879

 
9,393

 
5,426

 
557

 
177

 
25,395

Total long-term debt
 
$
3,815

 
$
9,092

 
$
10,043

 
$
6,459

 
$
511

 
$
7,546


$
37,466
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.
 
 
June 30, 2019
 
December 31, 2018
($ in millions)
 
Total (a)
 
Ally Bank
 
Total (a)
 
Ally Bank
Investment securities (b)
 
$
5,517

 
$
5,067

 
$
10,280

 
$
9,564

Mortgage assets held-for-investment and lending receivables
 
17,589

 
17,589

 
16,498

 
16,498

Consumer automotive finance receivables
 
11,287

 
7,319

 
17,015

 
9,715

Commercial automotive finance receivables
 
13,736

 
13,736

 
15,563

 
15,563

Operating leases
 
96

 
—

 
170

 
—

Total assets restricted as collateral (c) (d)
 
$
48,225

 
$
43,711

 
$
59,526

 
$
51,340

Secured debt
 
$
29,452

(e)
$
25,386

 
$
39,596

(e)
$
32,072

(a)
Ally Bank is a component of the total column.
(b)
A portion of the restricted investment securities at June 30, 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 $27.4 billion and $30.8 billion at June 30, 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 and had assets pledged and restricted as collateral to the FRB totaling $2.4 billion at both June 30, 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 $4.1 billion and $7.5 billion of short-term borrowings at June 30, 2019, and December 31, 2018, respectively.
Schedule Of Committed Funding Facilities
 
 
Outstanding
 
Unused capacity (a)
 
Total capacity
($ in millions)
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
 
June 30, 2019
 
December 31, 2018
Bank funding
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
250

 
$
3,500

 
$
—

 
$
1,300

 
$
250

 
$
4,800

Parent funding
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
1,365

 
3,165

 
1,635

 
635

 
3,000

 
3,800

Total committed secured credit facilities
 
$
1,615

 
$
6,665

 
$
1,635

 
$
1,935

 
$
3,250

 
$
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.