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Notes Payable (Tables) | 6 Months Ended
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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 | %

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