Ally Bank 2011 Annual Report Download - page 194

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
and 2010, respectively. The receivables for collateral placed and the payables for collateral received are included on our Consolidated Balance Sheet in
other assets and accrued expenses and other liabilities, respectively. In certain circumstances, we receive or post securities as collateral with counterparties.
We do not record such collateral received on our Consolidated Balance Sheet unless certain conditions are met. At December 31, 2011 and 2010, we
received noncash collateral of $43 million and $29 million, respectively.
Balance Sheet Presentation
The following table summarizes the fair value amounts of derivative instruments reported on our Consolidated Balance Sheet. The fair value amounts
are presented on a gross basis, are segregated by derivatives that are designated and qualifying as hedging instruments or those that are not, and are further
segregated by type of contract within those two categories. At December 31, 2011, $5.7 billion and $14 million of the derivative contracts in a receivable
position were classified as other assets and trading assets, respectively, on the Consolidated Balance Sheet. During the normal course of business, our
broker−dealer enters into forward purchases and sales, which are classified as trading derivatives. We had no trading derivative assets at December 31,
2010. Refer to Note 6 for our trading assets. At December 31, 2011, $5.4 billion of derivative contracts in a liability position and $12 million of trading
derivatives were both classified as accrued expenses and other liabilities on the Consolidated Balance Sheet. We had no trading derivative liabilities at
December 31, 2010. 2011 2010
Fair value of
derivative contracts in Fair value of derivative contracts in
December 31, ($ in millions) receivable position (a) liability position (b) Notional amount receivable position (a) liability position (b) Notional amount
Derivatives qualifying for hedge accounting
Interest rate risk
Fair value accounting hedges $ 289 $ 4 $ 8,398 $ 443 $ 114 $ 11,895
Cash flow accounting hedges 4 — 3,000 — — —
Total interest rate risk 293 4 11,398 443 114 11,895
Foreign exchange risk
Net investment accounting hedges 123 54 8,208 12 72 4,407
Total derivatives qualifying for hedge accounting 416 58 19,606 455 186 16,302
Economic and trading derivatives
Interest rate risk
MSRs and retained interests 4,812 5,012 523,037 2,896 3,118 325,768
Mortgage loan commitments and mortgage and
automobile loans held−for−sale 95 107 24,950 232 80 38,788
Debt 81 54 25,934 160 107 21,269
Other 160 101 42,142 80 129 32,734
Total interest rate risk 5,148 5,274 616,063 3,368 3,434 418,559
Foreign exchange risk 137 47 7,569 143 240 14,359
Total economic and trading derivatives 5,285 5,321 623,632 3,511 3,674 432,918
Total derivatives $ 5,701 $ 5,379 $ 643,238 $ 3,966 $ 3,860 $ 449,220
(a) Includes accrued interest of $459 million and $263 million at December 31, 2011 and 2010, respectively.
(b) Includes accrued interest of $458 million and $23 million at December 31, 2011 and 2010, respectively.
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