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Financial Derivatives - Financial Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Hedged Items in Fair Value Hedging Relationships [Table Text Block] | The following table shows the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships as of June 30, 2018 and December 31, 2017: Table 4.3
| Hedged Items in Fair Value Relationship
| Carrying Amount of Hedged Assets/(Liabilities) |  | Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
| (in thousands)
Farmer Mac Guaranteed Securities, Available-for-Sale, at fair value | $ | 2,223,750 |  |  | $ | 1,928,220 |  |  | $ | (52,164 | ) |  | $ | (22,853 | )
Loans held for investment, at amortized cost | 162,884 |  |  | 149,304 |  |  | (9,088 | ) |  | (189 | )
Notes Payable, due after one year(1)(2) | (2,345,273 | ) |  | (1,552,935 | ) |  | 20,072 |  |  | 5,836 |
(1) | Carrying amount represents amortized cost.
(2) | Includes $0.4 million of hedging adjustments on a discontinued hedging relationship.
Schedule of Derivative Instruments [Table Text Block] | he following tables summarize information related to Farmer Mac's financial derivatives on a gross basis without giving consideration to master netting arrangements as of June 30, 2018 and December 31, 2017: Table 4.1
| As of June 30, 2018
|  |  | Fair Value |  | Weighted- Average Pay Rate |  | Weighted- Average Receive Rate |  | Weighted- Average Forward Price |  | Weighted- Average Remaining Term (in years)
| Notional Amount |  | Asset |  | (Liability) |  |  |  |
| (dollars in thousands)
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Pay fixed non-callable | $ | 2,432,032 |  |  | $ | 2,744 |  |  | $ | (4,416 | ) |  | 2.13% |  | 2.34% |  |  |  | 8.58
Receive fixed non-callable | 2,151,700 |  |  | 652 |  |  | (4,042 | ) |  | 2.20% |  | 1.69% |  |  |  | 1.73
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Pay fixed non-callable | 409,500 |  |  | 3,265 |  |  | (231 | ) |  | 2.28% |  | 2.42% |  |  |  | 5.93
No hedge designation: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Pay fixed non-callable | 323,292 |  |  | 1,407 |  |  | (9,762 | ) |  | 3.71% |  | 2.33% |  |  |  | 6.62
Receive fixed non-callable | 3,401,094 |  |  | 17 |  |  | (1,020 | ) |  | 2.09% |  | 1.81% |  |  |  | 0.84
Basis swaps | 1,419,000 |  |  | — |  |  | (574 | ) |  | 2.01% |  | 1.88% |  |  |  | 1.13
Treasury futures | 39,500 |  |  | — |  |  | (123 | ) |  |  |  |  |  | 119.88 |  |  |
Credit valuation adjustment |  |  | (74 | ) |  | 4 |  |  |  |  |  |  |  |  |
Total financial derivatives | $ | 10,176,118 |  |  | $ | 8,011 |  |  | $ | (20,164 | ) |  |  |  |  |  |  |  |
Collateral pledged |  |  | — |  |  | 24,940 |  |  |  |  |  |  |  |  |
Net amount |  |  | $ | 8,011 |  |  | $ | 4,776 |  |  |  |  |  |  |  |  |
| As of December 31, 2017
|  |  | Fair Value |  | Weighted- Average Pay Rate |  | Weighted- Average Receive Rate |  | Weighted- Average Forward Price |  | Weighted- Average Remaining Term (in years)
| Notional Amount |  | Asset |  | (Liability) |  |  |  |
| (dollars in thousands)
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Pay fixed non-callable | $ | 2,086,347 |  |  | $ | 5,240 |  |  | $ | (5,990 | ) |  | 1.88% |  | 1.40% |  |  |  | 5.46
Receive fixed non-callable | 1,559,700 |  |  | 110 |  |  | (4,033 | ) |  | 1.38% |  | 1.45% |  |  |  | 1.68
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Pay fixed non-callable | 365,500 |  |  | 1,402 |  |  | (138 | ) |  | 2.16% |  | 1.74% |  |  |  | 5.84
No hedge designation: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |
Pay fixed non-callable | 345,333 |  |  | 339 |  |  | (16,352 | ) |  | 3.79% |  | 1.40% |  |  |  | 6.68
Receive fixed non-callable | 3,409,916 |  |  | — |  |  | — |  |  | 1.25% |  | 1.24% |  |  |  | 0.92
Basis swaps | 1,053,500 |  |  | 18 |  |  | (106 | ) |  | 1.33% |  | 1.42% |  |  |  | 0.91
Treasury futures | 40,000 |  |  | — |  |  | (36 | ) |  |  |  |  |  | 123.96 |  |  |
Credit valuation adjustment |  |  | (16 | ) |  | 56 |  |  |  |  |  |  |  |  |
Total financial derivatives | $ | 8,860,296 |  |  | $ | 7,093 |  |  | $ | (26,599 | ) |  |  |  |  |  |  |  |
Collateral pledged |  |  | — |  |  | 24,926 |  |  |  |  |  |  |  |  |
Net amount |  |  | $ | 7,093 |  |  | $ | (1,673 | ) |  |  |  |  |  |  |  |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table summarizes the net income/(expense) recognized in the consolidated statements of operations related to derivatives for the three and six months ended June 30, 2018 and 2017: Table 4.2
| For the Three Months Ended June 30, 2018
| Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives
| Net Interest Income |  | Non-Interest Income |  | Total
| Interest Income Farmer Mac Guaranteed Securities and USDA Securities |  | Interest Income Loans |  | Total Interest Expense |  | Gains/(losses) on financial derivatives and hedging activities |
| (in thousands)
Total amounts presented in the consolidated statement of operations: | $ | 74,179 |  |  | $ | 49,396 |  |  | $ | (91,737 | ) |  | $ | 2,534 |  |  | $ | 34,372 |
Income/(expense) related to interest settlements on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives | 681 |  |  | (165 | ) |  | (2,320 | ) |  | — |  |  | (1,804 | )
Recognized on hedged items | 15,923 |  |  | 1,545 |  |  | (10,074 | ) |  | — |  |  | 7,394 |
Discount amortization recognized on hedged items | — |  |  | — |  |  | (188 | ) |  | — |  |  | (188 | )
Income/(expense) related to interest settlements on fair value hedging relationships | $ | 16,604 |  |  | $ | 1,380 |  |  | $ | (12,582 | ) |  | $ | — |  |  | $ | 5,402 |
Gains/(losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives | 12,485 |  |  | 2,235 |  |  | (2,731 | ) |  | — |  |  | 11,989 |
Recognized on hedged items | (10,849 | ) |  | (2,472 | ) |  | 3,194 |  |  | — |  |  | (10,127 | )
Gains/(losses) on fair value hedging relationships | $ | 1,636 |  |  | $ | (237 | ) |  | $ | 463 |  |  | $ | — |  |  | $ | 1,862 |
Expense related to interest settlements on cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest settlements reclassified from AOCI into net income on derivatives | — |  |  | — |  |  | 57 |  |  | — |  |  | 57 |
Recognized on hedged items | — |  |  | — |  |  | (2,330 | ) |  | — |  |  | (2,330 | )
Discount amortization recognized on hedged items | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Expense recognized on cash flow hedges | $ | — |  |  | $ | — |  |  | $ | (2,275 | ) |  | $ | — |  |  | $ | (2,275 | )
Gains/(losses) on financial derivatives not designated in hedge relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | — |  |  | — |  |  | — |  |  | 2,396 |  |  | 2,396 |
Treasury futures | — |  |  | — |  |  | — |  |  | 138 |  |  | 138 |
Gains/(losses) on financial derivatives not designated in hedge relationships | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,534 |  |  | $ | 2,534 |
| For the Three Months Ended June 30, 2017
| Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives
| Net Interest Income |  | Non-Interest Income |  | Total
| Interest Income Farmer Mac Guaranteed Securities and USDA Securities |  | Interest Income Loans |  | Total Interest Expense |  | Gains/(losses) on financial derivatives and hedging activities |
| (in thousands)
Total amounts presented in the consolidated statement of operations | $ | 50,106 |  |  | $ | 39,573 |  |  | $ | (58,316 | ) |  | $ | (617 | ) |  | $ | 30,746 |
Income/(expense) related to interest settlements on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives | (2,826 | ) |  | (208 | ) |  | 1,257 |  |  | — |  |  | (1,777 | )
Recognized on hedged items | 11,633 |  |  | 583 |  |  | (5,056 | ) |  | — |  |  | 7,160 |
Discount amortization recognized on hedged items | — |  |  | — |  |  | (120 | ) |  | — |  |  | (120 | )
Income/(expense) related to interest settlements on fair value hedging relationships | $ | 8,807 |  |  | $ | 375 |  |  | $ | (3,919 | ) |  | $ | — |  |  | $ | 5,263 |
Gains/(losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives(1) | — |  |  | — |  |  | — |  |  | (8,568 | ) |  | (8,568 | )
Recognized on hedged items | — |  |  | — |  |  | — |  |  | 9,988 |  |  | 9,988 |
Gains/(losses) on fair value hedging relationships | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,420 |  |  | $ | 1,420 |
Expense related to interest settlements on cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest settlements reclassified from AOCI into net income on derivatives | $ | — |  |  | $ | — |  |  | $ | (497 | ) |  | $ | — |  |  | $ | (497 | )
Recognized on hedged items | — |  |  | — |  |  | (845 | ) |  | — |  |  | (845 | )
Discount amortization recognized on hedged items | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Losses recognized in income for hedge ineffectiveness | — |  |  | — |  |  | — |  |  | (146 | ) |  | (146 | )
Expense recognized on cash flow hedges | $ | — |  |  | $ | — |  |  | $ | (1,343 | ) |  | $ | (146 | ) |  | $ | (1,489 | )
Gains/(losses) on financial derivatives not designated in hedging relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,648 | ) |  | $ | (1,648 | )
Agency forwards | — |  |  | — |  |  | — |  |  | (189 | ) |  | (189 | )
Treasury futures | — |  |  | — |  |  | — |  |  | (54 | ) |  | (54 | )
Gains/(losses) on financial derivatives not designated in hedge relationships | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,891 | ) |  | $ | (1,891 | )
(1) | Included in the assessment of hedge effectiveness as of June 30, 2017, but excluded from the amounts in the table, were losses of $1.3 million for the three months ended June 30, 2017, attributable to the fair value of the swaps at the inception of the hedging relationship. Accordingly, the amount recognized as hedge ineffectiveness for the three months ended June 30, 2017 were gains of $0.1 million.
| For the Six Months Ended June 30, 2018
| Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives
| Net Interest Income |  | Non-Interest Income |  | Total
| Interest Income Farmer Mac Guaranteed Securities and USDA Securities |  | Interest Income Loans |  | Total Interest Expense |  | Gains/(losses) on financial derivatives and hedging activities |
| (in thousands)
Total amounts presented in the consolidated statement of operations: | $ | 136,609 |  |  | $ | 95,049 |  |  | $ | (168,054 | ) |  | $ | (1,316 | ) |  | $ | 62,288 |
Income/(expense) related to interest settlements on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives | (807 | ) |  | (463 | ) |  | (2,614 | ) |  | — |  |  | (3,884 | )
Recognized on hedged items | 29,409 |  |  | 2,959 |  |  | (18,628 | ) |  | — |  |  | 13,740 |
Discount amortization recognized on hedged items | — |  |  | — |  |  | (353 | ) |  | — |  |  | (353 | )
Income/(expense) related to interest settlements on fair value hedging relationships | $ | 28,602 |  |  | $ | 2,496 |  |  | $ | (21,595 | ) |  | $ | — |  |  | $ | 9,503 |
Gains/(losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives | 32,934 |  |  | 8,655 |  |  | (12,377 | ) |  | — |  |  | 29,212 |
Recognized on hedged items | (29,797 | ) |  | (9,045 | ) |  | 14,331 |  |  | — |  |  | (24,511 | )
Gains/(losses) on fair value hedging relationships | $ | 3,137 |  |  | $ | (390 | ) |  | $ | 1,954 |  |  | $ | — |  |  | $ | 4,701 |
Expense related to interest settlements on cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest settlements reclassified from AOCI into net income on derivatives | — |  |  | — |  |  | (210 | ) |  | — |  |  | (210 | )
Recognized on hedged items | — |  |  | — |  |  | (4,110 | ) |  | — |  |  | (4,110 | )
Discount amortization recognized on hedged items | — |  |  | — |  |  | (4 | ) |  | — |  |  | (4 | )
Expense recognized on cash flow hedges | $ | — |  |  | $ | — |  |  | $ | (4,324 | ) |  | $ | — |  |  | $ | (4,324 | )
(Losses)/gains on financial derivatives not designated in hedge relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | — |  |  | — |  |  | — |  |  | (1,679 | ) |  | (1,679 | )
Treasury futures | — |  |  | — |  |  | — |  |  | 363 |  |  | 363 |
(Losses)/gains on financial derivatives not designated in hedge relationships | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,316 | ) |  | $ | (1,316 | )
| For the Six Months Ended June 30, 2017
| Net Income/(Expense) Recognized in Consolidated Statement of Operations on Derivatives
| Net Interest Income |  | Non-Interest Income |  | Total
| Interest Income Farmer Mac Guaranteed Securities and USDA Securities |  | Interest Income Loans |  | Total Interest Expense |  | Gains/(losses) on financial derivatives and hedging activities |
| (in thousands)
Total amounts presented in the consolidated statement of operations | $ | 92,628 |  |  | $ | 76,425 |  |  | $ | (107,862 | ) |  | $ | 1,869 |  |  | $ | 63,060 |
Income/(expense) related to interest settlements on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives | (5,984 | ) |  | (425 | ) |  | 1,440 |  |  | — |  |  | (4,969 | )
Recognized on hedged items | 22,226 |  |  | 1,099 |  |  | (7,764 | ) |  | — |  |  | 15,561 |
Discount amortization recognized on hedged items | — |  |  | — |  |  | (190 | ) |  | — |  |  | (190 | )
Income/(expense) related to interest settlements on fair value hedging relationships | $ | 16,242 |  |  | $ | 674 |  |  | $ | (6,514 | ) |  | $ | — |  |  | $ | 10,402 |
Gains/(losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |
Recognized on derivatives(1) | — |  |  | — |  |  | — |  |  | (7,041 | ) |  | (7,041 | )
Recognized on hedged items | — |  |  | — |  |  | — |  |  | 4,584 |  |  | 4,584 |
Gains/(losses) on fair value hedging relationships | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2,457 | ) |  | $ | (2,457 | )
Expense related to interest settlements on cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest settlements reclassified from AOCI into net income on derivatives | $ | — |  |  | $ | — |  |  | $ | (1,040 | ) |  | $ | — |  |  | $ | (1,040 | )
Recognized on hedged items | — |  |  | — |  |  | (1,496 | ) |  | — |  |  | (1,496 | )
Discount amortization recognized on hedged items | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Losses recognized in income for hedge ineffectiveness | — |  |  | — |  |  | — |  |  | (175 | ) |  | (175 | )
Expense recognized on cash flow hedges | $ | — |  |  | $ | — |  |  | $ | (2,538 | ) |  | $ | (175 | ) |  | $ | (2,713 | )
Gains/(losses) on financial derivatives not designated in hedging relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,036 |  |  | $ | 5,036 |
Agency forwards | — |  |  | — |  |  | — |  |  | (588 | ) |  | (588 | )
Treasury futures | — |  |  | — |  |  | — |  |  | 53 |  |  | 53 |
Gains/(losses) on financial derivatives not designated in hedge relationships | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,501 |  |  | $ | 4,501 |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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