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Debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt Debt
Short-Term Borrowings
The following table presents the composition of our short-term borrowings portfolio.
June 30, 2025December 31, 2024
($ in millions)
Unsecured
Secured (a)
Total
Unsecured
Secured (a)
Total
Federal Home Loan Bank
$— $2,925 $2,925 $— $1,625 $1,625 
Securities sold under agreements to repurchase
— 931 931 — — — 
Total short-term borrowings$— $3,856 $3,856 $— $1,625 $1,625 
(a)Refer to the section below titled Long-Term Debt for further details on assets restricted as collateral for payment of the related debt.
We periodically enter into term repurchase agreements—short-term borrowing agreements in which we sell securities to one or more investors while simultaneously committing to repurchase them at a specified future date, at the stated price plus accrued interest. As of June 30, 2025, the securities sold under agreements to repurchase consisted of $931 million in U.S. Treasury securities. The repurchase agreements were set to mature within 30 days.
The primary risk associated with these repurchase agreements is that the counterparty will be unable to perform under the terms of the contract. As the borrower, we are exposed to the excess market value of the securities pledged over the amount borrowed. Daily mark-to-market collateral management is designed to limit this risk to the initial margin. However, should a counterparty declare bankruptcy or become insolvent, we may incur additional delays and costs. In some instances, we may place or receive cash collateral with counterparties under collateral arrangements associated with our repurchase agreements. As of June 30, 2025, we did not place any cash collateral related to repurchase agreements and received cash collateral of $2 million related to repurchase agreements.
Long-Term Debt
The following table presents the composition of our long-term debt portfolio.
June 30, 2025December 31, 2024
($ in millions)UnsecuredSecuredTotalUnsecuredSecuredTotal
Long-term debt (a)
Due within one year$1,161 $2,355 $3,516 $2,408 $2,411 $4,819 
Due after one year9,358 3,002 12,360 8,654 4,022 12,676 
Total long-term debt (b)$10,519 $5,357 $15,876 $11,062 $6,433 $17,495 
(a)Includes basis adjustments related to the application of hedge accounting. Refer to Note 19 for additional information.
(b)Includes advances from the FHLB of Pittsburgh of $3.7 billion and $4.2 billion at June 30, 2025, and December 31, 2024, respectively.
The following table presents the scheduled remaining maturity of long-term debt at June 30, 2025, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)202520262027202820292030 and thereafter
Total
Unsecured
Long-term debt
$1,167 $83 $1,621 $885 $1,778 $5,712 $11,246 
Original issue discount
(38)(82)(94)(107)(123)(283)(727)
Total unsecured
1,129 1 1,527 778 1,655 5,429 10,519 
Secured
Long-term debt
1,216 2,136 1,469 474 41 21 5,357 
Total long-term debt
$2,345 $2,137 $2,996 $1,252 $1,696 $5,450 $15,876 
The following table summarizes assets restricted as collateral for the payment of the related debt obligation.
($ in millions)June 30, 2025December 31, 2024
Consumer automotive finance receivables$36,984 $38,316 
Consumer mortgage finance receivables16,622 17,269 
Commercial finance receivables6,759 6,297 
Investment securities (amortized cost of $3,627 and $2,822) (a)
3,784 2,946 
Other assets (b)531 669 
Total assets restricted as collateral (c) (d)$64,680 $65,497 
Secured debt (e)$9,213 $8,058 
(a)A portion of the restricted investment securities at June 30, 2025, was restricted under repurchase agreements. Refer to the section above titled Short-Term Borrowings for information on the repurchase agreements.
(b)Includes the collateral accounts restricted for the payment of credit-linked notes recorded within restricted cash and cash equivalents. Excludes restricted cash and cash reserves for securitization trusts. Refer to Note 11 and Note 18 for additional information.
(c)All restricted assets are those of Ally Bank.
(d)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 $26.2 billion and $26.5 billion at June 30, 2025, and December 31, 2024, respectively. These assets were primarily composed of consumer mortgage finance receivables and loans as well as mortgage-backed securities. Ally Bank has access to the FRB Discount Window and had assets pledged and restricted as collateral to the FRB totaling $33.8 billion at both June 30, 2025, and December 31, 2024, respectively. 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.
(e)Includes $3.9 billion and $1.6 billion of short-term borrowings at June 30, 2025, and December 31, 2024, respectively.