Guarantees (Tables)

9 Months Ended

Feb. 28, 2014

Guarantees

Schedule of Guarantor Obligations

The following table summarizes total guarantees by type of guarantee and member class:

(Dollars in thousands)	February 28,  2014		May 31,  2013
Total by type:
Long-term tax-exempt bonds	$	519,185	$	547,970
Letters of credit		472,008		447,683
Other guarantees		115,018		117,118
Total	$	1,106,211	$	1,112,771
Total by member class:
CFC:
Distribution	$	209,336	$	245,265
Power supply		801,785		810,900
Statewide and associate		5,488		6,948
CFC total		1,016,609		1,063,113
RTFC		2,304		3,711
NCSC		87,298		45,947
Total	$	1,106,211	$	1,112,771

Schedule of Activity in Guarantee Liability Account

Activity in the guarantee liability account is summarized below:

(Dollars in thousands)	Nine Months Ended  February 28, 2014
Beginning balance as of May 31, 2013	$	24,742
Net change in non-contingent liability		(1,729)
Provision for contingent guarantee liability		159
Ending balance as of February 28, 2014	$	23,172
Liability as a percentage of total guarantees		2.09	%