Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Offsetting [Abstract]

Offsetting Assets

The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.

	Gross amounts of recognized assets/liabilities		Gross amounts offset on the Condensed Consolidated Balance Sheet		Net amounts of assets/liabilities presented on the Condensed Consolidated Balance Sheet		Gross amounts not offset on the Condensed Consolidated Balance Sheet
($ in millions)							Financial instruments		Collateral (a) (b) (c)		Net amount
September 30, 2020
Assets
Derivative assets in net asset positions	$	3	$	—	$	3	$	—	$	(3)	$	—
Derivative assets in net liability positions	2		—		2		(2)		—		—
Derivative assets with no offsetting arrangements	18		—		18		—		—		18
Total assets	$	23	$	—	$	23	$	(2)	$	(3)	$	18
Liabilities
Derivative liabilities in net liability positions	$	4	$	—	$	4	$	(2)	$	(1)	$	1
Total liabilities	$	4	$	—	$	4	$	(2)	$	(1)	$	1
December 31, 2019
Assets
Derivative assets in net asset positions	$	62	$	—	$	62	$	—	$	(36)	$	26
Derivative assets with no offsetting arrangements	2		—		2		—		—		2
Total assets	$	64	$	—	$	64	$	—	$	(36)	$	28
Liabilities
Derivative liabilities in net liability positions	$	5	$	—	$	5	$	—	$	(4)	$	1
Total liabilities	$	5	$	—	$	5	$	—	$	(4)	$	1

(a)Financial collateral received/pledged shown as a balance based on the sum of all net asset and liability positions between Ally and each individual derivative counterparty.

(b)Amounts disclosed are limited to the financial asset or liability balance and, accordingly, exclude excess collateral received or pledged and noncash collateral received. There was $29 million of noncash derivative collateral pledged to us that was excluded at December 31, 2019. We do not record such collateral received on our Condensed Consolidated Balance Sheet unless certain conditions are met.

(c)Certain agreements grant us the right to sell or pledge the noncash assets we receive as collateral. Noncash collateral pledged to us where the agreement grants us the right to sell or pledge the underlying assets had a fair value of $29 million at December 31, 2019. We have not sold or pledged any of the noncash collateral received under these agreements.

(d)For additional information on securities sold under agreements to repurchase, refer to Note 13.

Offsetting Liabilities

The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.

	Gross amounts of recognized assets/liabilities		Gross amounts offset on the Condensed Consolidated Balance Sheet		Net amounts of assets/liabilities presented on the Condensed Consolidated Balance Sheet		Gross amounts not offset on the Condensed Consolidated Balance Sheet
($ in millions)							Financial instruments		Collateral (a) (b) (c)		Net amount
September 30, 2020
Assets
Derivative assets in net asset positions	$	3	$	—	$	3	$	—	$	(3)	$	—
Derivative assets in net liability positions	2		—		2		(2)		—		—
Derivative assets with no offsetting arrangements	18		—		18		—		—		18
Total assets	$	23	$	—	$	23	$	(2)	$	(3)	$	18
Liabilities
Derivative liabilities in net liability positions	$	4	$	—	$	4	$	(2)	$	(1)	$	1
Total liabilities	$	4	$	—	$	4	$	(2)	$	(1)	$	1
December 31, 2019
Assets
Derivative assets in net asset positions	$	62	$	—	$	62	$	—	$	(36)	$	26
Derivative assets with no offsetting arrangements	2		—		2		—		—		2
Total assets	$	64	$	—	$	64	$	—	$	(36)	$	28
Liabilities
Derivative liabilities in net liability positions	$	5	$	—	$	5	$	—	$	(4)	$	1
Total liabilities	$	5	$	—	$	5	$	—	$	(4)	$	1

(a)Financial collateral received/pledged shown as a balance based on the sum of all net asset and liability positions between Ally and each individual derivative counterparty.

(b)Amounts disclosed are limited to the financial asset or liability balance and, accordingly, exclude excess collateral received or pledged and noncash collateral received. There was $29 million of noncash derivative collateral pledged to us that was excluded at December 31, 2019. We do not record such collateral received on our Condensed Consolidated Balance Sheet unless certain conditions are met.

(c)Certain agreements grant us the right to sell or pledge the noncash assets we receive as collateral. Noncash collateral pledged to us where the agreement grants us the right to sell or pledge the underlying assets had a fair value of $29 million at December 31, 2019. We have not sold or pledged any of the noncash collateral received under these agreements.

(d)For additional information on securities sold under agreements to repurchase, refer to Note 13.