Investment Securities - (Tables)

9 Months Ended

Feb. 28, 2022

Investments [Abstract]

Schedule of Debt Securities Trading, at Fair Value

The following table presents the composition of our investment debt securities portfolio and the fair value as of February 28, 2022 and May 31, 2021.

Table 3.1: Investments in Debt Securities, at Fair Value

(Dollars in thousands)	February 28, 2022		May 31, 2021
Debt securities, at fair value:
Certificates of deposit	$	—	$	1,501
Commercial paper	13,969		12,365
Corporate debt securities	483,588		497,944
Commercial agency mortgage-backed securities (“MBS”)(1)	7,786		8,683
U.S. state and municipality debt securities	21,396		11,840
Foreign government debt securities	979		999
Other asset-backed securities(2)	37,708		42,843
Total debt securities trading, at fair value	$	565,426	$	576,175

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(1)Consists of securities backed by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”).

(2)Consists primarily of securities backed by auto lease loans, equipment-backed loans, auto loans and credit card loans.

Schedule of Equity Securities

The following table presents the composition of our equity security holdings and the fair value as of February 28, 2022 and May 31, 2021.

Table 3.2: Investments in Equity Securities, at Fair Value

(Dollars in thousands)	February 28, 2022		May 31, 2021
Equity securities, at fair value:
Farmer Mac—Series C non-cumulative preferred stock	$	25,750	$	27,450
Farmer Mac—Class A common stock	9,608		7,652
Total equity securities, at fair value	$	35,358	$	35,102