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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2012
Schedule of Available-for-sale and Trading Securities [Line Items]  
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
As of December 31, 2012 and 2011, unrealized losses on available-for-sale investment securities were as follows:

 
December 31, 2012
 
Available-for-Sale Securities
 
Unrealized loss position for
less than 12 months
 
Unrealized loss position for
more than 12 months
 
Fair Value
 
Unrealized
Loss
 
Fair Value
 
Unrealized
Loss
 
(in thousands)
Floating rate auction-rate certificates backed by Government guaranteed student loans
$
—

 
$
—

 
$
63,159

 
$
(10,941
)
Floating rate asset-backed securities
21,648

 
(27
)
 
3,619

 
(9
)
Floating rate Government/GSE guaranteed mortgage-backed securities
174,352

 
(209
)
 
829

 
(2
)
Floating rate GSE subordinated debt
—

 
—

 
57,431

 
(12,569
)
Fixed rate senior agency debt
50,088

 
(1
)
 
—

 
—

Fixed rate U.S. Treasuries
136,194

 
(9
)
 
—

 
—

Total
$
382,282

 
$
(246
)
 
$
125,038

 
$
(23,521
)

 
December 31, 2011
 
Available-for-Sale Securities
 
Unrealized loss position for
less than 12 months
 
Unrealized loss position for
more than 12 months
 
Fair Value
 
Unrealized
Loss
 
Fair Value
 
Unrealized
Loss
 
(in thousands)
Floating rate auction-rate certificates backed by Government guaranteed student loans
$
—

 
$
—

 
$
60,213

 
$
(13,887
)
Floating rate asset-backed securities
63,496

 
(102
)
 
—

 
—

Floating rate corporate debt securities
41,061

 
(388
)
 
—

 
—

Fixed rate corporate debt securities
18,189

 
(6
)
 
—

 
—

Floating rate Government/GSE guaranteed mortgage-backed securities
235,454

 
(359
)
 
17,409

 
(22
)
Floating rate GSE subordinated debt
—

 
—

 
52,562

 
(17,438
)
Fixed rate senior agency debt
44,976

 
(21
)
 
—

 
—

Fixed rate U.S. Treasuries
50,160

 
(4
)
 
—

 
—

Total
$
453,336

 
$
(880
)
 
$
130,184

 
$
(31,347
)
Investment Securities [Member]
  
Schedule of Available-for-sale and Trading Securities [Line Items]  
Schedule of Available-for-sale Securities and Trading Securities Reconciliation
The following tables present the amount outstanding, amortized cost, and fair values of Farmer Mac's investment securities as of December 31, 2012 and 2011:
 
 
December 31, 2012
 
Amount Outstanding
 
Unamortized Premium/(Discount)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
 
(in thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
Floating rate auction-rate certificates backed by Government guaranteed student loans
$
74,100

 
$
—

 
$
74,100

 
$
—

 
$
(10,941
)
 
$
63,159

Floating rate asset-backed securities
150,519

 
(372
)
 
150,147

 
933

 
(36
)
 
151,044

Fixed rate asset-backed securities
6,501

 
—

 
6,501

 
—

 
—

 
6,501

Floating rate corporate debt securities
76,345

 
(32
)
 
76,313

 
450

 
—

 
76,763

Fixed rate corporate debt securities
51,969

 
243

 
52,212

 
204

 
—

 
52,416

Floating rate Government/GSE guaranteed mortgage-backed securities
699,062

 
5,973

 
705,035

 
8,035

 
(211
)
 
712,859

Fixed rate GSE guaranteed mortgage-backed securities
1,910

 
1

 
1,911

 
154

 
—

 
2,065

Floating rate GSE subordinated debt
70,000

 
—

 
70,000

 
—

 
(12,569
)
 
57,431

Fixed rate GSE preferred stock
78,500

 
784

 
79,284

 
7,802

 
—

 
87,086

Floating rate senior agency debt
50,000

 
(6
)
 
49,994

 
61

 
—

 
50,055

Fixed rate senior agency debt
72,700

 
287

 
72,987

 
128

 
(1
)
 
73,114

Fixed rate U.S. Treasuries
1,163,400

 
2,240

 
1,165,640

 
258

 
(9
)
 
1,165,889

Total available-for-sale
2,495,006

 
9,118

 
2,504,124

 
18,025

 
(23,767
)
 
2,498,382

Trading:
 
 
 
 
 

 
 

 
 

 
 

Floating rate asset-backed securities
4,327

 
—

 
4,327

 
—

 
(3,080
)
 
1,247

Total investment securities
$
2,499,333

 
$
9,118

 
$
2,508,451

 
$
18,025

 
$
(26,847
)
 
$
2,499,629


 
December 31, 2011
 
Amount Outstanding
 
Unamortized Premium/(Discount)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
 
(in thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
Floating rate auction-rate certificates backed by Government guaranteed student loans
$
74,100

 
$
—

 
$
74,100

 
$
—

 
$
(13,887
)
 
$
60,213

Floating rate asset-backed securities
178,985

 
(542
)
 
178,443

 
219

 
(102
)
 
178,560

Floating rate corporate debt securities
74,345

 
(193
)
 
74,152

 
69

 
(388
)
 
73,833

Fixed rate corporate debt securities
38,068

 
610

 
38,678

 
27

 
(6
)
 
38,699

Floating rate Government/GSE guaranteed mortgage-backed securities
752,533

 
7,034

 
759,567

 
4,852

 
(381
)
 
764,038

Fixed rate GSE guaranteed mortgage-backed securities
3,108

 
(2
)
 
3,106

 
254

 
—

 
3,360

Floating rate GSE subordinated debt
70,000

 
—

 
70,000

 
—

 
(17,438
)
 
52,562

Fixed rate commercial paper
10,000

 
(1
)
 
9,999

 
1

 
—

 
10,000

Fixed rate GSE preferred stock
78,500

 
1,162

 
79,662

 
5,216

 
—

 
84,878

Floating rate senior agency debt
38,000

 
—

 
38,000

 
32

 
—

 
38,032

Fixed rate senior agency debt
79,000

 
255

 
79,255

 
19

 
(21
)
 
79,253

Fixed rate U.S. Treasuries
797,082

 
1,884

 
798,966

 
304

 
(4
)
 
799,266

Total available-for-sale
2,193,721

 
10,207

 
2,203,928

 
10,993

 
(32,227
)
 
2,182,694

Trading:
 
 
 
 
 

 
 

 
 

 
 

Floating rate asset-backed securities
5,138

 
—

 
5,138

 
—

 
(3,342
)
 
1,796

Total investment securities
$
2,198,859

 
$
10,207

 
$
2,209,066

 
$
10,993

 
$
(35,569
)
 
$
2,184,490


During 2012, Farmer Mac re
Investments Classified by Contractual Maturity Date
 
Investment Securities Available-for-Sale as of
 
December 31, 2012
 
Amortized
Cost
 
Fair Value
 
Weighted-
Average
Yield
 
(dollars in thousands)
Due within one year
$
1,209,076

 
$
1,209,406

 
0.64%
Due after one year through five years
241,788

 
242,617

 
1.06%
Due after five years through ten years
416,087

 
406,333

 
1.06%
Due after ten years
637,173

 
640,026

 
2.59%
Total
$
2,504,124

 
$
2,498,382

 
1.24%