Debt

Debt consists of the following (in millions):



	June 30, 2016		December 31, 2015
Secured debt
Revolving credit facilities	$	7,914	$	7,548
Securitization notes payable	26,424		23,141
Total secured debt	$	34,338	$	30,689

Unsecured debt
Senior notes	$	24,402	$	18,973
Credit facilities	3,333		2,759
Retail customer deposits	1,795		1,260
Other unsecured debt	632		665
Total unsecured debt	$	30,162	$	23,657

Secured Debt

Most of the secured debt was issued by variable interest entities, as further discussed in Note 8 - "Variable Interest Entities." This debt is repayable only from proceeds related to the underlying pledged finance receivables and leasing related assets.

During the six months ended June 30, 2016, we entered into new credit facilities or renewed credit facilities with a total additional net borrowing capacity of $2.5 billion, and we issued securitization notes payable of $8.4 billion through securitization transactions.

Unsecured Debt

In March 2016, our top-tier holding company issued $2.75 billion in senior notes comprised of $1.5 billion of 4.20% notes due in March 2021 and $1.25 billion of 5.25% notes due in March 2026. All of these notes are guaranteed solely by AmeriCredit Financial Services, Inc. ("AFSI").

In May 2016, our top-tier holding company issued $3.0 billion in senior notes comprised of $1.4 billion of 2.40% notes due in May 2019, $1.2 billion of 3.70% notes due in May 2023 and $400 million of floating rate notes due in May 2019. All of these notes are guaranteed solely by AFSI.

Also in May 2016, one of our European subsidiaries issued €500 million of 1.168% notes under our Euro medium term notes program. These notes are due in May 2020 and are guaranteed by our top-tier holding company and AFSI.

Subsequent to June 30, 2016, our top-tier holding company issued $2.0 billion of 3.20% senior notes due in July 2021. These notes are guaranteed solely by AFSI.

During 2015, we began accepting deposits from retail banking customers in Germany. Following is summarized information for our deposits at June 30, 2016 and December 31, 2015 (dollars in millions):



	June 30, 2016				December 31, 2015
	Outstanding Balance		Weighted Average Interest Rate		Outstanding Balance		Weighted Average Interest Rate
Overnight deposits	$	640	0.60	%	$	555	1.00	%
Term deposits -12 months	558		1.22	%	337		1.32	%
Term deposits - 24 months	238		1.34	%	123		1.44	%
Term deposits - 36 months	359		1.55	%	245		1.65	%
Total deposits	$	1,795	1.11	%	$	1,260	1.25	%

Compliance with Debt Covenants

Several of our loan facilities, including our revolving credit facilities, require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured senior notes contain covenants including limitations on our ability to incur certain liens. At June 30, 2016, we were in compliance with these debt covenants.