Notes Payable (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

The following tables set forth information related to Farmer Mac's borrowings as of March 31, 2020 and December 31, 2019:

Table 7.1

	March 31, 2020
	Outstanding as of March 31				Average Outstanding During the Quarter
	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
	(dollars in thousands)
Due within one year:
Discount notes	$	2,598,091	0.82	%	$	2,043,407	1.52	%
Medium-term notes	1,203,723		1.18	%	971,050		1.79	%
Current portion of medium-term notes	7,346,370		1.39	%
Total due within one year	$	11,148,184	1.24	%
Due after one year:
Medium-term notes due in:
Two years	$	3,381,965	1.64	%
Three years	1,588,751		1.90	%
Four years	1,311,362		2.13	%
Five years	1,027,532		1.95	%
Thereafter	2,207,226		2.57	%
Total due after one year	9,516,836		2.00	%
Total	$	20,665,020	1.59	%

	December 31, 2019
	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	$	2,194,177	1.72	%	$	1,977,214	2.25	%
Medium-term notes	1,152,770		1.98	%	1,780,517		2.33	%
Current portion of medium-term notes	6,672,135		1.85	%
Total due within one year	$	10,019,082	1.84	%
Due after one year:
Medium-term notes due in:
Two years	$	3,700,835	2.04	%
Three years	1,594,709		2.15	%
Four years	1,205,276		2.27	%
Five years	760,887		2.25	%
Thereafter	1,817,859		2.89	%
Total due after one year	9,079,566		2.28	%
Total	$	19,098,648	2.05	%

The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2020 as of March 31, 2020:

Table 7.2

Debt Callable in 2020 as of March 31, 2020, by Maturity
	Amount		Weighted-Average Rate
	(dollars in thousands)
Maturity:
2021	$	731,715	1.56	%
2022	209,852		1.80	%
2023	49,959		1.34	%
2024	206,716		2.12	%
Thereafter	397,740		2.59	%
Total	$	1,595,982	1.91	%

Schedule of Long-Term Debt Instruments

The following schedule summarizes the earliest interest rate reset date, or debt maturities, of total borrowings outstanding as of March 31, 2020, 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, or Debt Maturities, of Borrowings Outstanding
	Amount		Weighted-Average Rate
	(dollars in thousands)
Debt with interest rate resets, or debt maturities in:
2020	$	11,565,193	1.13	%
2021	3,038,940		1.97	%
2022	1,483,282		2.02	%
2023	1,489,184		2.10	%
2024	945,152		2.04	%
Thereafter	2,143,269		2.67	%
Total	$	20,665,020	1.59	%