GUARANTEES AND COMMITMENTS

9 Months Ended

Sep. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Farmer Mac enters into various off-balance-sheet credit arrangements in the ordinary course of business, including long-term standby purchase commitments ("LTSPCs"), unfunded commitments, and letters of credit. Farmer Mac has recorded a liability for its obligation to stand ready to purchase loans under its LTSPCs in the guarantee and commitment obligation on the consolidated balance sheets. Farmer Mac also records a reserve for expected credit losses associated with LTSPCs and other off-balance sheet exposures, including the unfunded commitments and letters of credit. The following table presents Farmer Mac's exposure under these arrangements, including the maximum principal exposure and related reserve for losses, as well as the guarantee and commitment obligation and weighted-average remaining maturity of loans underlying LTSPCs.

Table 5.1


	As of September 30, 2026		As of December 31, 2025
	(dollars in thousands)
Maximum principal exposure	$	5,530,554	$	4,997,829
Reserve for losses	4,211		1,586
Guarantee and commitment obligation	49,759		49,750
Weighted-average remaining maturity	13.7 years		14.4 years