GM Financial’s derivatives fall 72% in value in 2021

Lorenzo Migliorato
21 Feb 2022

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The net fair value of General Motors Financial’s derivatives plummeted 72% in 2021, as a rise in the forward interest rate curve and a stronger US dollar wiped out most of the gains recorded by the carmaker’s financing arm the previous year.

The unit’s derivatives instruments, totalling $134 billion in notional exposure, had a $326 million net fair value as of end-December. A year prior, it stood at $1.2 billion, against $130 billion of notional.

Over the period, the fair value (FV)

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