Notes Payable (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

The following tables set forth information related to Farmer Mac's borrowings as of June 30, 2020 and December 31, 2019:

Table 7.1

	June 30, 2020
	Outstanding as of June 30				Average Outstanding During the First Six Months
	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
	(dollars in thousands)
Due within one year:
Discount notes	$	2,507,363	0.44	%	$	2,221,571	1.05	%
Medium-term notes	1,394,857		0.47	%	1,120,213		1.16	%
Current portion of medium-term notes	6,985,303		0.93	%
Total due within one year	$	10,887,523	0.76	%
Due after one year:
Medium-term notes due in:
Two years	$	3,764,817	1.08	%
Three years	1,839,291		1.70	%
Four years	1,204,584		1.78	%
Five years	1,213,467		1.56	%
Thereafter	2,511,868		2.28	%
Total due after one year	10,534,027		1.61	%
Total	$	21,421,550	1.18	%

	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 June 30, 2020:

Table 7.2

Debt Callable in 2020 as of June 30, 2020, by Maturity
	Amount		Weighted-Average Rate
	(dollars in thousands)
Maturity:
2021	$	491,862	1.02	%
2022	203,845		1.43	%
2023	37,953		0.82	%
2024	143,832		1.80	%
Thereafter	399,489		2.25	%
Total	$	1,276,981	1.56	%

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 June 30, 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	$	11,227,000	0.48	%
2021	3,047,823		1.79	%
2022	1,745,399		1.74	%
2023	1,706,568		1.88	%
2024	965,056		1.86	%
Thereafter	2,729,704		2.31	%
Total	$	21,421,550	1.18	%