NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt

The following tables set forth information related to Farmer Mac's borrowings as of December 31, 2025 and 2024:

Table 6.1

	December 31, 2025
	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	$	2,614,571	3.87	%	$	1,854,488	4.22	%
Medium-term notes	2,822,454		4.02	%	2,901,863		4.35	%
Current portion of medium-term notes	5,834,657		2.77	%
Total due within one year	$	11,271,682	3.34	%
Due after one year:
Medium-term notes due in:
Two years	$	6,641,397	3.65	%
Three years	3,740,471		3.97	%
Four years	2,836,656		4.24	%
Five years	3,889,804		3.71	%
Thereafter	2,435,870		2.88	%
Total due after one year	$	19,544,198	3.71	%
Total principal net of discounts	$	30,815,880	3.58	%
Hedging adjustments	6,690
Total	$	30,822,570

	December 31, 2024
	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	$	2,167,258	4.42	%	$	1,928,884	5.11	%
Medium-term notes	2,343,264		4.64	%	1,000,290		5.28	%
Current portion of medium-term notes	5,927,101		3.20	%
Total due within one year	$	10,437,623	3.77	%
Due after one year:
Medium-term notes due in:
Two years	$	4,844,538	2.66	%
Three years	3,822,999		3.53	%
Four years	2,732,980		4.13	%
Five years	2,491,831		4.41	%
Thereafter	3,190,202		2.63	%
Total due after one year	$	17,082,550	3.34	%
Total principal net of discounts	$	27,520,173	3.51	%
Hedging adjustments	(148,999)
Total	$	27,371,174

The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2026 as of December 31, 2025:

Table 6.2

Debt Callable in 2026 as of December 31, 2025, by Maturity
	Amount		Weighted-Average Rate
	(dollars in thousands)
Maturity:
2027	$	1,144,586	2.99	%
2028	1,408,199		4.04	%
2029	1,493,927		4.45	%
2030	1,395,746		3.22	%
Thereafter	1,472,467		2.66	%
Total	$	6,914,925	3.49	%

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 December 31, 2025, including callable and non-callable medium-term notes, assuming callable notes are redeemed at the initial call date:

Table 6.3

	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:
2026	$	14,354,481	3.49	%
2027	4,248,054		3.42	%
2028	3,497,592		3.96	%
2029	2,669,771		4.25	%
2030	3,854,837		3.70	%
Thereafter	2,191,145		2.73	%
Total principal net of discounts	$	30,815,880	3.58	%