Ally Bank 2011 Annual Report Download - page 94

Table of Contents
Management's Discussion and Analysis
Ally Financial Inc. • Form 10−K
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 $1.2 billion as of December 31, 2010, from committed funding arrangements that are reliant upon the
origination of future automotive receivables and that are available in 2012 and 2013.
(c) Funding is generally available for assets originated by Ally Bank or the parent company, Ally Financial Inc.
Uncommitted Funding Facilities Outstanding Unused capacity Total capacity
December 31, ($ in billions) 2011 2010 2011 2010 2011 2010
Bank funding
Secured
Federal Reserve funding programs $ — $ — $ 3.2 $ 4.0 $ 3.2 $ 4.0
FHLB advances 5.4 5.3 — 0.2 5.4 5.5
Total bank funding 5.4 5.3 3.2 4.2 8.6 9.5
Nonbank funding
Unsecured
Automotive Finance operations 1.9 1.4 0.5 0.6 2.4 2.0
Secured
Automotive Finance operations 0.1 0.1 0.1 — 0.2 0.1
Mortgage operations — — 0.1 0.1 0.1 0.1
Total nonbank funding 2.0 1.5 0.7 0.7 2.7 2.2
Total uncommitted facilities $ 7.4 $ 6.8 $ 3.9 $ 4.9 $ 11.3 $ 11.7
Ally Bank Funding Facilities
Facilities for Automotive Finance Operations — Secured
At December 31, 2011, Ally Bank had exclusive access to $9.5 billion of funding capacity from committed credit facilities. Ally Bank's largest facility
is a $7.5 billion revolving syndicated credit facility secured by automotive receivables. Half of this facility matures on March 28, 2012, with the remainder
maturing on March 30, 2013. We are currently in the process of extending this entire facility for one year. At December 31, 2011, the amount outstanding
under this facility was $5.0 billion. Ally Bank also had access to a $4.1 billion committed facility that is shared with the parent company. In the event these
facilities are not renewed, the outstanding debt will be repaid over time as the underlying collateral amortizes.
Nonbank Funding Facilities
Facilities for Automotive Finance Operations — Unsecured
Revolving credit facilities — At December 31, 2011, we maintained $486 million of commitments in our U.S. unsecured revolving credit facility
maturing June 2012. We also maintained $268 million of committed unsecured bank facilities in Canada and $67 million in Europe. The Canadian facilities
expire in June 2012 and the European facility expires in March 2012.
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