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Financial Derivatives - Financial Derivatives (Tables)
 12 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments [Table Text Block]
The following tables summarize information related to Farmer Mac's financial derivatives on a gross basis without giving consideration to master netting arrangements as of December 31, 2016 and 2015 and the effects of financial derivatives on the consolidated statements of operations for the years ended December 31, 2016,2015, and 2014:

Table 6.1
  
As of December 31, 2016
  
 
 
Fair Value
 
Weighted-
Average
Pay Rate
 
Weighted-
Average Receive Rate
 
Weighted-
Average
Forward
Price
 
Weighted-
Average
Remaining
Life (in years)
  
Notional Amount
 
Asset
 
(Liability)
 
 
 
 
  
(dollars in thousands)
Fair value hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
$
1,642,609

 
$
18,508

 
$
(18,909
)
 
1.73%
 
0.90%
 
 
 
4.70
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
207,000

 
3,706

 
(955
)
 
2.18%
 
1.11%
 
 
 
7.28
No hedge designation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
435,827

 
339

 
(32,951
)
 
4.06%
 
0.89%
 
 
 
5.90
Receive fixed non-callable
4,991,821

 
607

 
(5,064
)
 
0.74%
 
0.75%
 
 
 
0.60
Receive fixed callable
30,000

 
—

 
(33
)
 
0.82%
 
0.58%
 
 
 
0.33
Basis swaps
765,000

 
36

 
(243
)
 
0.78%
 
0.78%
 
 
 
0.87
Treasury futures
28,000

 
—

 
(155
)
 
 
 
 
 
123.73

 
 
Credit valuation adjustment
 
 
(14
)
 
158

 
 
 
 
 
 
 
 
Total financial derivatives
$
8,100,257

 
$
23,182

 
$
(58,152
)
 
  
 
  
 
 
 
  
Collateral pledged
 
 
—

 
25,643

 
 
 
 
 
 
 
 
Net amount
 
 
$
23,182

 
$
(32,509
)
 
 
 
 
 
 
 
 
  
As of December 31, 2015
  

 
Fair Value
 
Weighted-
Average
Pay Rate
 
Weighted-
Average Receive Rate
 
Weighted-
Average
Forward
Price
 
Weighted-
Average
Remaining
Life (in years)
  
Notional Amount
 
Asset
 
(Liability)
 
 
 
 
  
(dollars in thousands)
Fair value hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
$
1,276,285

 
$
949

 
$
(26,703
)
 
2.35%
 
0.37%
 
 
 
4.16
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
119,000

 
8

 
(1,381
)
 
2.25%
 
0.64%
 
 
 
7.03
No hedge designation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
454,041

 
229

 
(44,528
)
 
3.73%
 
0.33%
 
 
 
6.02
Receive fixed non-callable
5,590,638

 
2,384

 
(4,205
)
 
0.31%
 
0.47%
 
 
 
0.57
Receive fixed callable
230,000

 
—

 
(421
)
 
0.41%
 
0.91%
 
 
 
2.26
Basis swaps
725,000

 
232

 
(131
)
 
0.22%
 
0.38%
 
 
 
2.33
Treasury futures
35,000

 
19

 
—

 
 
 
 
 
125.96

 
 
Credit valuation adjustment
 
 
(5
)
 
170

 
 
 
 
 
 
 
 
Total financial derivatives
$
8,429,964

 
$
3,816

 
$
(77,199
)
 
  
 
  
 
 
 
  
Collateral pledged
 
 
—

 
37,986

 
 
 
 
 
 
 
 
Net amount
 
 
$
3,816

 
$
(39,213
)
 
 
 
 
 
 
 
 
Derivative Instruments, Gain (Loss) [Table Text Block]
Table 6.2

 
Gains/(losses) on financial derivatives and hedging activities
  
For the Year Ended December 31,
  
2016
 
2015
 
2014
 
(in thousands)
Fair value hedges:
 
 
 
 
 
Interest rate swaps(1)
$
25,365

 
$
5,965

 
$
(2,729
)
Hedged items
(20,322
)
 
3,100

 
14,520

Gains on fair value hedges
5,043

 
9,065

 
11,791

Cash flow hedges:
 
 
 
 
 
Loss recognized (ineffective portion)
(353
)
 
(551
)
 
(10
)
Losses on cash flow hedges
(353
)
 
(551
)
 
(10
)
No hedge designation:
 
 
 
 
 
Interest rate swaps
(1,991
)
 
(3,204
)
 
(31,101
)
Agency forwards
(226
)
 
(2,440
)
 
(1,842
)
Treasury futures
(162
)
 
(339
)
 
(484
)
Losses on financial derivatives not designated in hedging relationships
(2,379
)
 
(5,983
)
 
(33,427
)
Gains/(losses) on financial derivatives and hedging activities
$
2,311

 
$
2,531

 
$
(21,646
)
(1) 
Included in the assessment of hedge effectiveness as of December 31, 2016, but excluded from the amounts in the table, were losses of $5.2 million for the year ended December 31, 2016, attributable to the fair value of the swaps at the inception of the hedging relationship. Accordingly, the amounts recognized as hedge ineffectiveness for the year ended December 31, 2016 were gains of $0.2 million. The comparable amounts as of December 31, 2015 were losses of $9.2 million for the year ended December 31, 2015, attributable to the fair value of the swaps at the inception of the hedging relationship and, accordingly, gains of $0.1 million for the year ended December 31, 2015, attributable to hedge ineffectiveness. The comparable amounts as of December 31, 2014 were losses of $11.6 million for the year ended December 31, 2014, attributable to the fair value of the swaps at the inception of the hedging relationships and, accordingly, losses of $0.2 million for the year ended December 31, 2014, attributable to hedge ineffectiveness.