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Financial Derivatives - Financial Derivatives (Tables)
 6 Months Ended
Jun. 30, 2017
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 June 30, 2017 and and December 31, 2016 and the effects of financial derivatives on the consolidated statements of operations for the three and six months ended June 30, 2017 and 2016:

Table 4.1
  
As of June 30, 2017
  
 
 
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
$
2,003,581

 
$
4,549

 
$
(9,832
)
 
1.74%
 
1.13%
 
 
 
5.34
Receive fixed non-callable
1,431,700

 
97

 
(3,182
)
 
1.11%
 
1.42%
 
 
 
1.99
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
277,000

 
496

 
(467
)
 
2.11%
 
1.41%
 
 
 
6.57
No hedge designation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
353,534

 
174

 
(20,753
)
 
3.89%
 
1.18%
 
 
 
6.71
Receive fixed non-callable
3,194,132

 
—

 
—

 
1.02%
 
0.99%
 
 
 
0.70
Basis swaps
970,000

 
117

 
(10
)
 
0.95%
 
1.14%
 
 
 
0.97
Treasury futures
14,600

 
120

 
—

 
 
 
 
 
126.36

 
 
Credit valuation adjustment
 
 
(7
)
 
130

 
 
 
 
 
 
 
 
Total financial derivatives
$
8,244,547

 
$
5,546

 
$
(34,114
)
 
  
 
  
 
 
 
  
Collateral pledged
 
 
—

 
25,066

 
 
 
 
 
 
 
 
Net amount
 
 
$
5,546

 
$
(9,048
)
 
 
 
 
 
 
 
 
  
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
)
 
 
 
 
 
 
 
 
Derivative Instruments, Gain (Loss) [Table Text Block]
Table 4.2

 
(Losses)/gains on financial derivatives and hedging activities
  
For the Three Months Ended
 
For the Six Months Ended
  
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
 
(in thousands)
Fair value hedges:
 
 
 
 
 
 
 
Interest rate swaps(1)
$
(8,568
)
 
$
(14,440
)
 
$
(7,041
)
 
$
(41,339
)
Hedged items
9,988

 
16,541

 
4,584

 
46,329

Gains/(losses) on fair value hedges
1,420

 
2,101

 
(2,457
)
 
4,990

Cash flow hedges:
 
 
 
 
 
 
 
Loss recognized (ineffective portion)
(146
)
 
(105
)
 
(175
)
 
(254
)
Losses on cash flow hedges
(146
)
 
(105
)
 
(175
)
 
(254
)
No hedge designation:
 
 
 
 
 
 
 
Interest rate swaps
(1,648
)
 
(6,345
)
 
5,036

 
(14,487
)
Agency forwards
(189
)
 
10

 
(588
)
 
(868
)
Treasury futures
(54
)
 
(357
)
 
53

 
(859
)
(Losses)/gains on financial derivatives not designated in hedging relationships
(1,891
)
 
(6,692
)
 
4,501

 
(16,214
)
(Losses)/gains on financial derivatives and hedging activities
$
(617
)
 
$
(4,696
)
 
$
1,869

 
$
(11,478
)
(1) 
Included in the assessment of hedge effectiveness as of June 30, 2017, but excluded from the amounts in the table, were losses of $1.3 million and gains of $2.3 million, respectively, for the three and six months ended June 30, 2017, attributable to the fair value of the swaps at the inception of the hedging relationship. Accordingly, the amounts recognized as hedge ineffectiveness for three and six months ended June 30, 2017 were gains of $0.1 million and losses of 0.1 million, respectively. The comparable amounts as of June 30, 2016 were losses of $1.8 million and $3.3 million for the three and six months ended June 30, 2016, attributable to the fair value of the swaps at the inception of the hedging relationship and, accordingly, gains of $0.3 million and $1.7 million for the three and six months ended June 30, 2016, attributable to hedge ineffectiveness.