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Debt (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following table presents the composition of our short-term borrowings portfolio.
September 30, 2020December 31, 2019
($ in millions)
Unsecured
Secured (a)
Total
Unsecured
Secured (a)
Total
Demand notes
$2,532 $— $2,532 $2,581 $— $2,581 
Federal Home Loan Bank
— 500 500 — 2,950 2,950 
Total short-term borrowings$2,532 $500 $3,032 $2,581 $2,950 $5,531 
(a)Refer to the section below titled Long-Term Debt for further details on assets restricted as collateral for payment of the related debt.
Long-term Debt
The following table presents the composition of our long-term debt portfolio.
September 30, 2020December 31, 2019
($ in millions)
Unsecured
Secured
Total
Unsecured
Secured
Total
Long-term debt (a)
Due within one year
$618 $6,159 $6,777 $2,214 $7,005 $9,219 
Due after one year
10,938 7,989 18,927 8,990 15,818 24,808 
Total long-term debt (b) (c)
$11,556 $14,148 $25,704 $11,204 $22,823 $34,027 
(a)Includes basis adjustments related to the application of hedge accounting.
(b)Includes $2.6 billion of trust preferred securities at both September 30, 2020, and December 31, 2019.
(c)Includes advances net of hedge basis adjustment from the FHLB of Pittsburgh of $8.3 billion and $13.3 billion at September 30, 2020, and December 31, 2019, respectively.
Schedule of Maturities of Long-term Debt
The following table presents the scheduled remaining maturity of long-term debt at September 30, 2020, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)202020212022202320242025 and thereafter
Total
Unsecured
Long-term debt
$5 $699 $1,122 $1,654 $1,474 $7,686 $12,640 
Original issue discount
(13)(54)(59)(64)(69)(825)(1,084)
Total unsecured
(8)645 1,063 1,590 1,405 6,861 11,556 
Secured
Long-term debt
1,325 6,683 5,431 598 69 42 14,148 
Total long-term debt
$1,317 $7,328 $6,494 $2,188 $1,474 $6,903 $25,704 
Pledged assets for the payment of the related secured borrowings and repurchase agreements
The following summarizes assets restricted as collateral for the payment of the related debt obligation, primarily arising from securitization transactions accounted for as secured borrowings and repurchase agreements.
September 30, 2020December 31, 2019
($ in millions)
Total (a)
Ally Bank
Total (a)
Ally Bank
Investment securities$— $— $2,698 $2,698 
Mortgage assets held-for-investment and lending receivables
15,943 15,943 17,135 17,135 
Consumer automotive finance receivables
11,167 10,519 13,481 11,534 
Commercial automotive finance receivables
10,811 10,811 12,890 12,890 
Total assets restricted as collateral (b) (c)$37,921 $37,273 $46,204 $44,257 
Secured debt
$14,648 (d)$14,092 $25,773 (d)$24,069 
(a)Ally Bank is a component of the total column.
(b)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 $20.9 billion and $24.8 billion at September 30, 2020, and December 31, 2019, 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 September 30, 2020, and December 31, 2019. 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.
(c)Excludes restricted cash and cash reserves for securitization trusts recorded within other assets on the Condensed Consolidated Balance Sheet. Refer to Note 11 for additional information.
(d)Includes $500 million and $3.0 billion of short-term borrowings at September 30, 2020, and December 31, 2019, respectively.
Schedule Of Committed Funding Facilities
Committed Secured Credit Facilities
OutstandingUnused capacity (a)Total capacity
($ in millions)September 30, 2020December 31, 2019September 30, 2020December 31, 2019September 30, 2020December 31, 2019
Parent funding
Secured$— $450 $1,350 $2,050 $1,350 $2,500 
Total committed secured credit facilities
$— $450 $1,350 $2,050 $1,350 $2,500 
(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.