Guarantees (Tables)

3 Months Ended

Aug. 31, 2014

Guarantees [Abstract]

Summary of total guarantees by type of guarantee and member class

The following table summarizes total guarantees by type of guarantee and member class as of August 31, 2014 and May 31, 2014.

(Dollars in thousands)	August 31, 2014		May 31, 2014
Total by type:
Long-term tax-exempt bonds	$	516,745	$	518,360
Letters of credit	349,983		431,064
Other guarantees	114,812		115,398
Total	$	981,540	$	1,064,822
Total by member class:
CFC:
Distribution	$	162,585	$	165,559
Power supply	757,996		826,231
Statewide and associate	5,341		5,397
CFC total	925,922		997,187
RTFC	2,303		2,304
NCSC	53,315		65,331
Total	$	981,540	$	1,064,822

Summary of activity in the guarantee liability account

Activity in the guarantee liability account is summarized below as of and for the three months ended August 31, 2014.

(Dollars in thousands)	Three Months Ended August 31, 2014
Beginning balance	$	22,091
Net change in non-contingent liability	(1,057		)
Provision for contingent guarantee liability	(67		)
Ending balance	$	20,967
Liability as a percentage of total guarantees	2.14		%