Ally Bank 2014 Annual Report Download - page 136
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Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K
124
Funding Facilities
We utilize both committed and other credit facilities. The amounts outstanding under our various funding facilities are included on our
Consolidated Balance Sheet.
As of December 31, 2014, Ally Bank had exclusive access to $3.5 billion of funding capacity from committed credit facilities. Funding
programs supported by the Federal Reserve and the FHLB, together with repurchase agreements, complement Ally Bank’s private committed
facilities.
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, 2014, $20.7 billion of our $22.0 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, 2014, we had $13.4 billion of committed funding capacity from revolving facilities with a remaining tenor greater than
364 days.
Committed Funding Facilities
Outstanding Unused capacity (a) Total capacity
December 31, ($ in millions) 2014 2013 2014 2013 2014 2013
Bank funding
Secured $ 3,250 $ 2,750 $ 250 $ 250 $ 3,500 $ 3,000
Parent funding
Secured (b) 15,030 15,159 3,425 6,497 18,455 21,656
Total committed facilities $ 18,280 $ 17,909 $ 3,675 $ 6,747 $ 21,955 $ 24,656
(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) Includes the secured facility of Corporate Finance at December 31, 2013.
17. Accrued Expenses and Other Liabilities
The components of accrued expenses and other liabilities were as follows.
December 31, ($ in millions) 2014 2013
Employee compensation and benefits $ 298 $ 437
Accounts payable 298 414
Fair value of derivative contracts in payable position (a) 252 317
Reserves for insurance losses and loss adjustment expenses 208 275
Deferred revenue 151 122
Collateral received from counterparties 71 159
Other liabilities (b) 457 673
Total accrued expenses and other liabilities $ 1,735 $ 2,397
(a) For additional information on derivative instruments and hedging activities, refer to Note 22.
(b) Included $150 million accrual for insurance proceeds to be contributed to the ResCap estate at December 31, 2013. The outstanding accrual was paid in
April 2014.