Ally Bank 2011 Annual Report Download - page 204

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
Recurring fair value measurements
December 31, 2010 ($ in millions) Level 1 Level 2 Level 3 Total
Assets
Trading assets
Securities of U.S. Treasury and federal agencies $ 77 $ — $ — $ 77
Mortgage−backed residential securities — 25 44 69
Asset−backed securities — — 94 94
Total trading assets 77 25 138 240
Investment securities
Available−for−sale securities
Debt securities
U.S. Treasury and federal agencies 3,313 5 — 3,318
States and political subdivisions — 2 — 2
Foreign government 873 375 — 1,248
Mortgage−backed residential — 5,824 1 5,825
Asset−backed — 1,948 — 1,948
Corporate debt securities — 1,558 — 1,558
Other debt securities — 151 — 151
Total debt securities 4,186 9,863 1 14,050
Equity securities (a) 796 — — 796
Total available−for−sale securities 4,982 9,863 1 14,846
Mortgage loans held−for−sale, net (b) — 6,420 4 6,424
Consumer mortgage finance receivables and loans, net (b) — — 1,015 1,015
Mortgage servicing rights — — 3,738 3,738
Other assets
Interests retained in financial asset sales — — 568 568
Derivative contracts in receivable position
Interest rate 242 3,464 105 3,811
Foreign currency — 155 — 155
Total derivative contracts in receivable position 242 3,619 105 3,966
Collateral placed with counterparties (c) 728 — — 728
Total assets $ 6,029 $ 19,927 $ 5,569 $ 31,525
Liabilities
Long−term debt
On−balance sheet securitization debt (b) $ — $ — $ (972) $ (972)
Accrued expenses and other liabilities
Derivative contracts in liability position
Interest rate contracts (208) (3,222) (118) (3,548)
Foreign currency contracts — (312) — (312)
Total fair value of derivative contracts in liability position (208) (3,534) (118) (3,860)
Total liabilities $ (208) $ (3,534) $ (1,090) $ (4,832)
(a) Our investment in any one industry did not exceed 23%.
(b) Carried at fair value due to fair value option elections.
(c) Represents collateral in the form of investment securities. Cash collateral was excluded.
201