Loans and Commitments (Tables)

	August 31, 2013					May 31, 2013
(dollar amounts in thousands)	Loans outstanding			Unadvanced commitments (1)		Loans outstanding			Unadvanced commitments (1)
Total by loan type (2):
Long-term fixed-rate loans	$	18,208,107		$	—	$	17,918,268		$	—
Long-term variable-rate loans	681,573			5,056,010		782,006			4,718,162
Loans guaranteed by RUS	209,560			—		210,815			—
Line of credit loans	1,305,851			8,663,797		1,385,228			8,704,586
Total loans outstanding	20,405,091			13,719,807		20,296,317			13,422,748
Deferred origination costs	9,702			—		9,557			—
Less: Allowance for loan losses	(55,656		)	—		(54,325		)	—
Net loans outstanding	$	20,359,137		$	13,719,807	$	20,251,549		$	13,422,748

Total by member class (2):
CFC:
Distribution	$	15,083,474		$	9,307,402	$	14,941,192		$	8,948,826
Power supply	4,065,241			3,125,136		4,007,669			3,145,518
Statewide and associate	71,574			101,970		70,956			102,087
CFC total	19,220,289			12,534,508		19,019,817			12,196,431
RTFC	479,769			315,544		503,359			317,344
NCSC	705,033			869,755		773,141			908,973
Total loans outstanding	$	20,405,091		$	13,719,807	$	20,296,317		$	13,422,748

(1) The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.

(2) Includes non-performing and restructured loans.

	August 31, 2013				May 31, 2013
	Loans		Unadvanced		Loans		Unadvanced
(dollar amounts in thousands)	outstanding		commitments (1)		outstanding		commitments (1)
Non-performing and restructured loans:
Non-performing loans:
CFC:
Line of credit loans	$	5,000	$	—	$	5,000	$	—
RTFC:
Long-term fixed-rate loans	3,174		—		3,690		—
Long-term variable-rate loans	7,100		—		6,807		—
Total non-performing loans	$	15,274	$	—	$	15,497	$	—

Restructured loans:
CFC:
Long-term fixed-rate loans	$	7,585	$	—	$	46,953	$	—
Line of credit loans (2)	—		—		—		5,000
Total restructured loans	$	7,585	$	—	$	46,953	$	5,000

(2) The unadvanced commitment is part of the terms outlined in the related restructure agreement. Loans advanced under these commitments would be classified as performing. Principal and interest due under these performing loans would be in addition to scheduled payments due under the restructured loan agreement.

	Available		Notional maturities of committed lines of credit
(dollar amounts in thousands)	balance		2014		2015		2016		2017		2018		Thereafter
Committed lines of credit	$	1,753,021	$	108,210	$	91,104	$	134,800	$	562,466	$	809,691	$	46,750

	August 31, 2013
(dollar amounts in thousands)	30-89 days past due			90 days or more past due (1)			Total past due			Current			Total financing receivables			Non-accrual loans
CFC:
Distribution	$	—		$	—		$	—		$	15,083,474		$	15,083,474		$	—
Power supply	—			5,000			5,000			4,060,241			4,065,241			5,000
Statewide and associate	—			—			—			71,574			71,574			—
CFC total	—			5,000			5,000			19,215,289			19,220,289			5,000
RTFC	—			8,219			8,219			471,550			479,769			10,274
NCSC	—			—			—			705,033			705,033			—
Total loans outstanding	$	—		$	13,219		$	13,219		$	20,391,872		$	20,405,091		$	15,274

As a % of total loans	0.00		%	0.06		%	0.06		%	99.94		%	100.00		%	0.07		%

(1) All loans 90 days or more past due are on non-accrual status.

	May 31, 2013
(dollar amounts in thousands)	30-89 days past due			90 days or more past due (1)			Total past due			Current			Total financing receivables			Non-accrual loans
CFC:
Distribution	$	2,841		$	—		$	2,841		$	14,938,351		$	14,941,192		$	7,584
Power supply	—			5,000			5,000			4,002,669			4,007,669			5,000
Statewide and associate	—			—			—			70,956			70,956			—
CFC total	2,841			5,000			7,841			19,011,976			19,019,817			12,584
RTFC	4,163			4,156			8,319			495,040			503,359			10,497
NCSC	—			—			—			773,141			773,141			—
Total loans outstanding	$	7,004		$	9,156		$	16,160		$	20,280,157		$	20,296,317		$	23,081

As a % of total loans	0.03		%	0.05		%	0.08		%	99.92		%	100.00		%	0.11		%

(1) All loans 90 days or more past due are on non-accrual status.

	August 31, 2013						May 31, 2013
(dollar amounts in thousands)	Pass		Criticized		Total		Pass		Criticized		Total
CFC:
Distribution	$	15,066,434	$	17,040	$	15,083,474	$	14,922,558	$	18,634	$	14,941,192
Power supply	4,060,241		5,000		4,065,241		4,002,669		5,000		4,007,669
Statewide and associate	71,289		285		71,574		70,668		288		70,956
CFC total	19,197,964		22,325		19,220,289		18,995,895		23,922		19,019,817
RTFC	460,043		19,726		479,769		483,058		20,301		503,359
NCSC	700,573		4,460		705,033		770,419		2,722		773,141
Total loans outstanding	$	20,358,580	$	46,511	$	20,405,091	$	20,249,372	$	46,945	$	20,296,317

	August 31, 2013								May 31, 2013
(dollar amounts in thousands)	Secured		%		Unsecured		%		Secured		%		Unsecured		%
Total by loan type:
Long-term fixed-rate loans	$	17,116,916	94	%	$	1,091,191	6	%	$	16,871,594	94	%	$	1,046,674	6	%
Long-term variable-rate loans	577,880		85		103,693		15		676,075		86		105,931		14
Loans guaranteed by RUS	209,560		100		—		—		210,815		100		—		—
Line of credit loans	250,098		19		1,055,753		81		294,575		21		1,090,653		79
Total loans outstanding	$	18,154,454	89		$	2,250,637	11		$	18,053,059	89		$	2,243,258	11

Total by company:
CFC	$	17,240,266	90	%	$	1,980,023	10	%	$	17,049,029	90	%	$	1,970,788	10	%
RTFC	459,163		96		20,606		4		482,647		96		20,712		4
NCSC	455,025		65		250,008		35		521,383		67		251,758		33
Total loans outstanding	$	18,154,454	89		$	2,250,637	11		$	18,053,059	89		$	2,243,258	11

	As of and for the three months ended August 31, 2013
(dollar amounts in thousands)	CFC		RTFC			NCSC			Total
Balance as of May 31, 2013	$	41,246	$	9,158		$	3,921		$	54,325
Provision for (recovery of) loan losses	2,037		(661		)	(98		)	1,278
Recoveries of loans previously charged-off	53		—			—			53
Balance as of August 31, 2013	$	43,336	$	8,497		$	3,823		$	55,656

	As of and for the three months ended August 31, 2012
(dollar amounts in thousands)	CFC		RTFC		NCSC			Total
Balance as of May 31, 2012	$	126,941	$	8,562	$	7,823		$	143,326
Provision for (recovery of) loan losses	9,787		315		(980		)	9,122
Recoveries of loans previously charged-off	53		—		—			53
Balance as of August 31, 2012	$	136,781	$	8,877	$	6,843		$	152,501

	August 31, 2013
(dollar amounts in thousands)	CFC		RTFC		NCSC		Total
Ending balance of the allowance:
Collectively evaluated	$	43,336	$	5,346	$	3,823	$	52,505
Individually evaluated	—		3,151		—		3,151
Total ending balance of the allowance	$	43,336	$	8,497	$	3,823	$	55,656

Recorded investment in loans:
Collectively evaluated	$	19,207,704	$	469,495	$	705,033	$	20,382,232
Individually evaluated	12,585		10,274		—		22,859
Total recorded investment in loans	$	19,220,289	$	479,769	$	705,033	$	20,405,091

Loans to members, net	$	19,176,953	$	471,272	$	701,210	$	20,349,435

	May 31, 2013
(dollar amounts in thousands)	CFC		RTFC		NCSC		Total
Ending balance of the allowance:
Collectively evaluated	$	41,246	$	5,731	$	3,921	$	50,898
Individually evaluated	—		3,427		—		3,427
Total ending balance of the allowance	$	41,246	$	9,158	$	3,921	$	54,325

Recorded investment in loans:
Collectively evaluated	$	18,967,864	$	492,862	$	773,141	$	20,233,867
Individually evaluated	51,953		10,497		—		62,450
Total recorded investment in loans	$	19,019,817	$	503,359	$	773,141	$	20,296,317

Loans to members, net (1)	$	18,978,571	$	494,201	$	769,220	$	20,241,992

(1) Excludes deferred origination costs of $10 million at August 31, 2013 and May 31, 2013.

	August 31, 2013				May 31, 2013
(dollar amounts in thousands)	Recorded investment		Related allowance		Recorded investment		Related allowance
With no specific allowance recorded:
CFC/Distribution	$	7,585	$	—	$	46,953	$	—
CFC/Power Supply	5,000		—		5,000		—
Total	12,585		—		51,953		—

With a specific allowance recorded:
RTFC	10,274		3,151		10,497		3,427
Total	10,274		3,151		10,497		3,427
Total impaired loans	$	22,859	$	3,151	$	62,450	$	3,427

	For the three months ended August 31,
	2013		2012		2013		2012
(dollar amounts in thousands)	Average recorded investment				Interest income recognized
CFC/Distribution	$	20,648	$	485,077	$	136	$	5,462
CFC/Power Supply	5,000		5,000		—		—
RTFC	10,382		6,890		—		—
Total impaired loans	$	36,030	$	496,967	$	136	$	5,462

	For the three months ended August 31,
(dollar amounts in thousands)	2013		2012
Non-performing loans	$	179	$	407
Restructured loans	—		—
Total	$	179	$	407

(dollar amounts in thousands)	August 31, 2013		May 31, 2013
Collateral trust bonds:
2007 indenture
Distribution system mortgage notes	$	5,591,114	$	5,674,804
RUS guaranteed loans qualifying as permitted investments	164,736		165,823
Total pledged collateral	$	5,755,850	$	5,840,627
Collateral trust bonds outstanding	4,479,372		4,679,372

1994 indenture
Distribution system mortgage notes	$	1,627,599	$	1,641,858
Collateral trust bonds outstanding	1,465,000		1,465,000

Federal Agricultural Mortgage Corporation:
Distribution and power supply system mortgage notes	$	1,757,877	$	1,795,947
Notes payable outstanding	1,535,851		1,542,474

Clean Renewable Energy Bonds Series 2009A:
Distribution and power supply system mortgage notes	$	23,002	$	23,536
Cash	7,753		7,634
Total pledged collateral	$	30,755	$	31,170
Notes payable outstanding	19,888		19,888

(dollar amounts in thousands)	August 31, 2013		May 31, 2013
Federal Financing Bank
Distribution and power supply system mortgage notes on deposit	$	4,545,777	$	3,903,786
Notes payable outstanding	3,999,000		3,674,000