Notes Payable - Notes Payable (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

The following schedule summarizes the earliest interest rate reset date of total borrowings outstanding as of December 31, 2018, including callable and non-callable medium-term notes, assuming callable notes are redeemed at the initial call date:

Table 7.3

	Earliest Interest Rate Reset Date of Borrowings Outstanding
	Amount		Weighted-Average Rate
	(dollars in thousands)
Debt with interest rate resets in:
2019	$	9,668,398	2.20%
2020	2,210,866		1.94%
2021	1,565,748		2.32%
2022	788,504		2.16%
2023	836,768		2.88%
Thereafter	1,173,413		3.43%
Total	$	16,243,697	2.30%

During 2018 and 2017, Farmer Mac called $0.0 million and $24.0 million of callable medium-term notes, respectively.

Schedule of Debt [Table Text Block]

Callable medium-term notes give Farmer Mac the option to redeem the debt at par value on a specified call date or at any time on or after a specified call date.  The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2019 as of December 31, 2018:

Table 7.2

Debt Callable in 2019 as of December 31, 2018
	Amount		Weighted-Average Rate
	(dollars in thousands)
Maturity:
2020	$	239,327	2.13	%
2021	409,629		2.38	%
2022	165,810		2.31	%
2023	253,758		3.14	%
Thereafter	294,720		3.27	%
Total	$	1,363,244	2.66	%

The following tables set forth information related to Farmer Mac's borrowings as of December 31, 2018 and 2017:

Table 7.1

	December 31, 2018
	Outstanding as of December 31				Average Outstanding During the Year
	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
	(dollars in thousands)
Due within one year:
Discount notes	$	1,586,385	2.35	%	$	1,432,470	1.83	%
Medium-term notes	1,826,380		2.29	%	1,977,445		1.83	%
Current portion of long-term notes	4,344,285		1.93	%
Total due within one year	$	7,757,050	2.10	%
Due after one year:
Medium-term notes due in:
2020	$	3,090,405	2.11	%
2021	2,220,651		2.41	%
2022	859,470		2.19	%
2023	881,738		2.88	%
Thereafter	1,434,383		3.34	%
Total due after one year	8,486,647		2.48	%
Total	$	16,243,697	2.30	%

	December 31, 2017
	Outstanding as of December 31				Average Outstanding During the Year
	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
	(dollars in thousands)
Due within one year:
Discount notes	$	1,724,969	1.20	%	$	2,262,582	0.86	%
Medium-term notes	2,560,211		1.27	%	2,885,966		1.04	%
Current portion of long-term notes	3,804,646		1.23	%
Total due within one year	$	8,089,826	1.24	%
Due after one year:
Medium-term notes due in:
2019	$	2,644,734	1.48	%
2020	1,842,143		1.68	%
2021	849,263		1.85	%
2022	790,564		2.03	%
Thereafter	1,306,086		3.05	%
Total due after one year	7,432,790		1.91	%
Total	$	15,522,616	1.56	%

The maximum amount of Farmer Mac's discount notes outstanding at any month end during each of the years ended December 31, 2018 and 2017 was $1.6 billion and $3.3 billion, respectively.