Guarantees and Long Term Standby Purchase Commitments - Guarantees and Long-Term Standby Purchase Commitments (Tables)

9 Months Ended

Sep. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantor Obligations [Table Text Block]

The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of September 30, 2017 and December 31, 2016, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans:

Table 6.1

Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities
	As of September 30, 2017		As of December 31, 2016
	(in thousands)
Farm & Ranch:
Guaranteed Securities	$	354,823	$	415,441
USDA Guarantees:
Farmer Mac Guaranteed USDA Securities	226,802		103,976
Institutional Credit:
AgVantage Securities	13,214		983,214
Revolving floating rate AgVantage facility(1)	300,000		300,000
Total off-balance sheet Farmer Mac Guaranteed Securities	$	894,839	$	1,802,631

⁽¹⁾  Relates to a revolving floating rate AgVantage facility subject to specified contractual terms. Farmer Mac receives a fixed fee based on the full dollar amount of the facility.

Schedule of Cash Flows Related To Transfer of Securitizations [Table Text Block]

Eligible loans and other eligible assets may be placed into trusts that are used as vehicles for the securitization of the transferred assets and the Farmer Mac-guaranteed beneficial interests in the trusts are sold to investors.  The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations:

Table 6.2

	For the Nine Months Ended
	September 30, 2017			September 30, 2016
	(in thousands)
Proceeds from new securitizations	$	404,246		$	457,369
Guarantee fees received	2,141			2,333
Purchases of assets from the trusts	(3,147		)	(2,118		)

Farmer Mac has recorded a liability for its obligation to stand ready under the guarantee in the guarantee and commitment obligation on the consolidated balance sheets.  This liability approximated $3.8 million as of September 30, 2017 and $5.5 million as of December 31, 2016. As of September 30, 2017 and December 31, 2016, the weighted-average remaining maturity of all loans underlying off-balance sheet Farmer Mac Guaranteed Securities, excluding AgVantage securities, was 10.1 years and 10.7 years, respectively. As of September 30, 2017 and December 31, 2016, the weighted-average remaining maturity of the off-balance sheet AgVantage securities was 1.1 years and 0.7 years, respectively.