Ally Bank 2011 Annual Report Download - page 181

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
as performance criteria for the pool of receivables, such as delinquency ratios, loss ratios, commercial payment rates. During 2011, there were no trigger
events that resulted in the repayment of debt at an accelerated rate or impacted the usage of our credit facilities.
When we issue debt securities in private offerings we are generally subject to registration rights agreements. Under these agreements, we agree to use
reasonable efforts to cause the consummation of a registered exchange offer or to file a shelf registration statement within a prescribed period. In the event
that we fail to meet these obligations, we may be required to pay additional penalty interest with respect to the covered debt during the period in which we
fail to meet our contractual obligations.
Funding Facilities
We utilize both committed and uncommitted credit facilities. The financial institutions providing the uncommitted facilities are not legally obligated to
advance funds under them. The amounts outstanding under our various funding facilities are included on our Consolidated Balance Sheet.
The total capacity in our committed funding facilities is provided by banks and other financial institutions through private transactions. The committed
secured funding facilities can be revolving in nature and allow for additional funding during the commitment period, or they can be amortizing and not
allow for any further funding after the closing date. At December 31, 2011, $32.0 billion of our $43.1 billion of committed capacity was revolving. Our
revolving facilities generally have an original tenor ranging from 364 days to two years. As of December 31, 2011, we had $16.5 billion of committed
funding capacity from revolving facilities with a remaining tenor greater than 364 days.
Committed Funding Facilities Outstanding Unused capacity (a) Total capacity
December 31, ($ in billions) 2011 2010 2011 2010 2011 2010
Bank funding
Secured $ 5.8 $ 6.4 $ 3.7 $ 1.9 $ 9.5 $ 8.3
Nonbank funding
Unsecured
Automotive Finance operations 0.3 0.8 0.5 — 0.8 0.8
Secured
Automotive Finance operations (b) 14.3 8.3 13.2 9.1 27.5 17.4
Mortgage operations 0.7 1.0 0.5 0.6 1.2 1.6
Total nonbank funding 15.3 10.1 14.2 9.7 29.5 19.8
Shared capacity (c) 1.6 0.2 2.5 3.9 4.1 4.1
Total committed facilities $ 22.7 $ 16.7 $ 20.4 $ 15.5 $ 43.1 $ 32.2
(a) Funding from committed secured facilities is available on request in the event excess collateral resides in certain facilities or is available to the extent incremental collateral is
available and contributed to the facilities.
(b) Total unused capacity includes $4.9 billion as of December 31, 2011, and $1.2 billion as of December 31, 2010, from committed funding arrangements that are reliant upon the
origination of future automotive receivables and that are available in 2012 and 2013.
(c) Funding is generally available for assets originated by Ally Bank or the parent company, Ally Financial Inc.
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