Short-Term Borrowings (Tables)

12 Months Ended

May 31, 2026

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

The following table provides information on our short-term borrowings and weighted-average interest rates as of May 31, 2026 and 2025.

Table 6.1: Short-Term Borrowing Sources and Weighted-Average Interest Rates

	May 31,
	2026				2025
(Dollars in thousands)	Amount		Weighted- Average Interest Rate		Amount		Weighted-Average Interest Rate
Short-term borrowings:
Commercial paper:
Commercial paper sold through dealers, net of discounts	$	2,338,411	3.85	%	$	2,206,451	4.47	%
Commercial paper sold directly to members, at par	882,692		3.27		785,608		3.98
Total commercial paper	3,221,103		3.69		2,992,059		4.34
Select notes to members	1,361,207		3.54		1,304,240		4.22
Daily liquidity fund notes to members	253,271		3.00		343,916		3.75
Medium-term notes sold to members	324,190		3.81		451,201		4.62
Total short-term borrowings	$	5,159,771	3.62		$	5,091,416	4.30

Schedule of Total Available and Outstanding Letters of Credit Under the Revolving Credit Agreements

The following table presents the amount available for access under our bank revolving line of credit agreements as of May 31, 2026.

Table 6.2: Committed Bank Revolving Line of Credit Agreement Available Amounts

	May 31, 2026
(Dollars in millions)	Total Commitment		Letters of Credit Outstanding		Available Amount		Maturity	Annual Facility Fee(1)
Bank revolving agreements:
3-year agreement	$	50	$	—	$	50	November 28, 2027	7.5 bps
3-year agreement	1,695		—		1,695		November 28, 2028	7.5 bps
Total 3-year agreement	1,745		—		1,745
4-year agreement	1,755		7		1,748		November 28, 2029	10.0 bps
Total	$	3,500	$	7	$	3,493

___________________________

(1)Facility fee determined by CFC’s senior unsecured credit ratings based on the pricing schedules put in place at the inception of the related agreement.