Debt



	March 31, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	11,865	$	11,866	$	9,817	$	9,812
Securitization notes payable	30,714		30,814		29,453		29,545
Total secured debt	$	42,579	$	42,680	$	39,270	$	39,357
Unsecured debt
Senior notes	$	31,088	$	32,103	$	28,577	$	29,182
Credit facilities	3,453		3,452		3,354		3,354
Retail customer deposits	1,913		1,917		1,895		1,902
Other unsecured debt	916		918		780		782
Total unsecured debt	$	37,370	$	38,390	$	34,606	$	35,220
Total Secured and Unsecured debt	$	79,949	$	81,070	$	73,876	$	74,577
Fair value utilizing Level 2 inputs			$	77,267			$	69,990
Fair value utilizing Level 3 inputs			$	3,803			$	4,587

The fair value of our debt measured utilizing Level 2 inputs was based on quoted market prices for identical instruments and if unavailable, quoted market prices of similar instruments. For debt that has terms of one year or less or has been priced within the last six months, the carrying amount or par value is considered to be a reasonable estimate of fair value. The fair value of our debt measured utilizing Level 3 inputs was based on the discounted future net cash flows expected to be settled using current risk-adjusted rates.

Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 8 - "Variable Interest Entities" for further discussion.

During the three months ended March 31, 2017, we entered into new credit facilities or renewed credit facilities with a total net additional borrowing capacity of $182 million, and we issued securitization notes payable of $4.0 billion.

Unsecured Debt During the three months ended March 31, 2017, our top-tier holding company issued $2.5 billion in senior notes comprising:



	Amount Issued
3.45% Senior notes due January 2022	$	1,250
4.35% Senior notes due January 2027	$	750
Floating rate senior notes due January 2022	$	500

All of these notes are guaranteed solely by AmeriCredit Financial Services, Inc. (AFSI), our primary U.S. operating subsidiary.

Subsequent to March 31, 2017, our top-tier holding company issued $3.0 billion in senior notes comprised of $1.0 billion of 2.65% notes due in April 2020, $1.25 billion of 3.95% notes due in April 2024 and $750 million of floating rate notes due in April 2020. All of these notes are guaranteed solely by AFSI.

We accept deposits from retail banking customers in Germany. Following is summarized information for our deposits at March 31, 2017 and December 31, 2016:



	March 31, 2017				December 31, 2016
	Outstanding Balance		Weighted Average Interest Rate		Outstanding Balance		Weighted Average Interest Rate
Overnight deposits	$	788	0.40	%	$	799	0.50	%
Term deposits - 12 months	417		0.84	%	423		0.93	%
Term deposits - 24 months	298		1.24	%	281		1.26	%
Term deposits - 36 months	410		1.47	%	392		1.48	%
Total deposits	$	1,913	0.86	%	$	1,895	0.91	%

Compliance with Debt Covenants Several of 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 March 31, 2017, we were in compliance with these debt covenants.