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Debt
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Debt Debt
Short-Term Borrowings
The following table presents the composition of our short-term borrowings portfolio.
June 30, 2022December 31, 2021
($ in millions)
Unsecured
Secured (a)
Total
Unsecured
Secured (a)
Total
Federal Home Loan Bank
$— $6,775 $6,775 $— $— $— 
Other (b)— 1,000 1,000 — — — 
Total short-term borrowings$— $7,775 $7,775 $— $— $— 
(a)Refer to the section below titled Long-Term Debt for further details on assets restricted as collateral for payment of the related debt.
(b)Represents a loan participation agreement that did not meet the requirements for derecognition and was therefore accounted for as a secured borrowing.
Long-Term Debt
The following tables present the composition of our long-term debt portfolio.
June 30, 2022December 31, 2021
($ in millions)
Unsecured
Secured
Total
Unsecured
Secured
Total
Long-term debt (a)
Due within one year
$798 $2,776 $3,574 $1,028 $4,841 $5,869 
Due after one year
8,377 5,033 13,410 8,382 2,778 11,160 
Total long-term debt (b)$9,175 $7,809 $16,984 $9,410 $7,619 $17,029 
(a)Includes basis adjustments related to the application of hedge accounting. Refer to Note 19 for additional information.
(b)Includes advances, net of hedge basis adjustments, from the FHLB of Pittsburgh of $6.3 billion at both June 30, 2022, and December 31, 2021.
The following table presents the scheduled remaining maturity of long-term debt at June 30, 2022, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)202220232024202520262027 and thereafter
Total
Unsecured
Long-term debt
$31 $2,082 $1,479 $2,391 $25 $4,068 $10,076 
Original issue discount
(27)(59)(66)(72)(80)(597)(901)
Total unsecured
4 2,023 1,413 2,319 (55)3,471 9,175 
Secured
Long-term debt
2,067 2,002 2,423 892 340 85 7,809 
Total long-term debt
$2,071 $4,025 $3,836 $3,211 $285 $3,556 $16,984 
The following summarizes assets restricted as collateral for the payment of the related debt obligation.
June 30, 2022December 31, 2021
($ in millions)
Total (a)
Ally Bank
Total (a)
Ally Bank
Consumer mortgage finance receivables$19,210 $19,210 $17,941 $17,941 
Consumer automotive finance receivables
9,960 9,960 9,122 9,122 
Commercial finance receivables (b)5,000 5,000 10 10 
Investment securities3,386 3,386 — — 
Credit card receivables— — 347 347 
Total assets restricted as collateral (c) (d)$37,556 $37,556 $27,420 $27,420 
Secured debt (e)$15,584 $15,584 $7,619 $7,619 
(a)Ally Bank is a component of the total column.
(b)Includes pledged commercial finance receivables related to a participation agreement at June 30, 2022.
(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 $18.0 billion at June 30, 2022, and December 31, 2021, respectively. These assets were composed primarily of consumer mortgage finance receivables and loans. 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, 2022, and December 31, 2021. 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 other subsidiaries.
(d)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.
(e)Includes $7.8 billion of short-term borrowings at June 30, 2022.