Securitizations and Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2026

Securitizations And Variable Interest Entities [Abstract]

The following table presents our involvement in consolidated and nonconsolidated VIEs in which we hold variable interests. We have excluded certain transactions with nonconsolidated entities from the balances presented in the table below, where our only continuing involvement relates to financial interests obtained through the ordinary course of business, primarily from lending and investing arrangements. For additional detail related to the assets and liabilities of consolidated variable interest entities, refer to our Condensed Consolidated Balance Sheet.


($ in millions)	Carrying value of total assets			Carrying value of total liabilities			Assets sold to nonconsolidated VIEs (a)		Maximum exposure to loss in nonconsolidated VIEs
March 31, 2026
On‑balance sheet variable interest entities
Consumer automotive	$	12,625	(b)	$	2,191	(c)	$	—	$	—
Off-balance sheet variable interest entities
Consumer automotive (d)	46		(e)	—			3,379		3,425		(f)

Commercial other	2,778		(g)	736		(h)	—		3,539		(i)
Total	$	15,449		$	2,927		$	3,379	$	6,964
December 31, 2025
On-balance sheet variable interest entities
Consumer automotive	$	12,149	(b)	$	1,619	(c)	$	—	$	—
Off-balance sheet variable interest entities
Consumer automotive (d)	53		(e)	—			3,192		3,245		(f)

Commercial other	2,822		(g)	820		(h)	—		3,690		(i)
Total	$	15,024		$	2,439		$	3,192	$	6,935

(a)Represents the current unpaid principal balance of outstanding consumer automotive finance receivables and loans within the VIEs.

(b)Includes $8.9 billion of assets that were not encumbered by VIE beneficial interests held by third parties at both March 31, 2026, and December 31, 2025. Ally or consolidated affiliates hold the interests in these assets.

(c)Includes $131 million and $137 million of liabilities that were not obligations to third-party beneficial interest holders at March 31, 2026, and December 31, 2025, respectively.

(d)Includes activity where we sell loans through a pass-through program to a third party.

(e)Represents retained notes and certificated residual interests, of which $43 million and $50 million were classified as held-to-maturity securities at March 31, 2026, and December 31, 2025, respectively, and $3 million were classified as other assets at both March 31, 2026, and December 31, 2025. These assets represent our compliance with the risk retention rules under the Dodd-Frank Act, requiring us to retain at least five percent of the credit risk of the assets underlying asset-backed securitizations.

(f)Maximum exposure to loss represents the current unpaid principal balance of outstanding loans based on our customary representation and warranty provisions. This measure is based on the unlikely event that all the loans have underwriting defects or other defects that trigger a representation and warranty provision and the collateral supporting the loans are worthless. This required disclosure is not an indication of our expected loss.

(g)Amounts are classified as other assets except for $57 million and $56 million classified as equity securities at March 31, 2026, and December 31, 2025, respectively.

(h)Amounts are classified as accrued expenses and other liabilities.

(i)For certain nonconsolidated affordable housing entities, maximum exposure to loss represents the yield we guaranteed investors through long-term guarantee contracts. The amount disclosed is based on the unlikely event that the yield delivered to investors in the form of LIHTCs and other tax credits is recaptured. For nonconsolidated equity investments, maximum exposure to loss represents our outstanding investment, additional committed capital, and LIHTCs and other tax credits subject to recapture. The amount disclosed is based on the unlikely event that our committed capital is funded, our investments become worthless, and the tax credits previously delivered to us are recaptured. This required disclosure is not an indication of our expected loss.

Schedule of Cash Flows with Nonconsolidated Special-Purpose Entities

The following table summarizes cash flows received and paid related to SPEs and asset-backed financings where the transfer is accounted for as a sale and we have a continuing involvement with the transferred consumer automotive and credit card assets (for example, servicing) that were outstanding during the three months ended March 31, 2026, and March 31, 2025. Additionally, this table contains information regarding cash flows received from and paid to nonconsolidated SPEs that existed during each period.


	Three months ended March 31,
($ in millions)	2026		2025
Consumer automotive
Cash proceeds from transfers completed during the period	$	480	$	191
Servicing fees	20		14
Cash flows received on retained interests in securitization entities	8		12
Other cash flows received	2		1




Consumer other (a)
Cash proceeds from transfers completed during the period	—		8
Servicing fees	—		1

(a)Includes activity from Ally Credit Card. We closed the sale of Ally Credit Card on April 1, 2025.

Schedule of Quantitative Information and Net Credit Losses about Securitized and Other Financial Assets Managed Together

The following tables present quantitative information about off-balance sheet securitizations and whole-loan sales where we have continuing involvement.


	Total amount				Amount 60 days or more past due
($ in millions)	March 31, 2026		December 31, 2025		March 31, 2026		December 31, 2025
Off-balance-sheet securitization entities
Consumer automotive	$	858	$	1,002	$	16	$	18
Whole-loan sales (a)
Consumer automotive	2,521		2,190		143		143

Total	$	3,379	$	3,192	$	159	$	161

(a)Whole-loan sales are not part of a securitization transaction, but represent consumer automotive pools of loans sold to third-party investors.


		Net credit losses
	Three months ended March 31,
($ in millions)		2026		2025
Off-balance-sheet securitization entities
Consumer automotive		$	4	$	5
Whole-loan sales (a)
Consumer automotive		41		23
Consumer other (b)		—		7
Total		$	45	$	35

(a)Whole-loan sales are not part of a securitization transaction, but represent consumer automotive and credit card pools of loans sold to third-party investors.

(b)Includes activity from Ally Credit Card. We closed the sale of Ally Credit Card on April 1, 2025.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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