Ally Bank 2014 Annual Report Download - page 153
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Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K
141
Recurring Fair Value
The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected
for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial
instruments. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our
risk management activities.
Recurring fair value measurements
December 31, 2014 ($ in millions) Level 1 Level 2 Level 3 Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies $ 217 $ 961 $ — $ 1,178
U.S. State and political subdivisions — 406 — 406
Foreign government 14 218 — 232
Mortgage-backed residential — 10,425 — 10,425
Mortgage-backed commercial — 253 — 253
Asset-backed — 1,991 — 1,991
Corporate debt securities — 746 — 746
Total debt securities 231 15,000 — 15,231
Equity securities (a) 906 — — 906
Total available-for-sale securities 1,137 15,000 — 16,137
Mortgage loans held-for-sale, net (b) ——33
Other assets
Interests retained in financial asset sales ——4747
Derivative contracts in a receivable position (c)
Interest rate 4 252 — 256
Foreign currency —5—5
Other 2—— 2
Total derivative contracts in a receivable position 6 257 — 263
Collateral placed with counterparties (d) —15—15
Total assets $ 1,143 $ 15,272 $ 50 $ 16,465
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (c)
Interest rate $ (2) $ (166) $ — $ (168)
Foreign currency — (78) — (78)
Other (2) (4) — (6)
Total derivative contracts in a payable position (4) (248) — (252)
Total liabilities $ (4) $ (248) $ — $ (252)
(a) Our investment in any one industry did not exceed 16%.
(b) Carried at fair value due to fair value option elections.
(c) For additional information on derivative instruments and hedging activities, refer to Note 22.
(d) Represents collateral in the form of investment securities. Cash collateral was excluded.