XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.21.1

Guarantees (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Guarantor Obligations | The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of March 31, 2021 and December 31, 2020, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans: Table 6.1
Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities
| As of March 31, 2021 |  | As of December 31, 2020
| (in thousands)
Farm & Ranch: |  |  |
Farmer Mac Guaranteed Securities | $ | 72,203 |  |  | $ | 79,312 |
USDA Guarantees: |  |  |
Farmer Mac Guaranteed USDA Securities | 284,868 |  |  | 299,298 |
Institutional Credit: |  |  |
AgVantage Securities | 4,412 |  |  | 4,412 |
Total off-balance sheet Farmer Mac Guaranteed Securities | $ | 361,483 |  |  | $ | 383,022 |
The following table presents the liability and the weighted-average remaining maturity of all loans underlying off-balance sheet Farmer Mac Guaranteed Securities: Table 6.3
| As of March 31, 2021 |  | As of December 31, 2020
| (dollars in thousands)
Guarantee and commitment obligation | $ | 1,492 |  |  | $ | 1,625 |
Weighted average remaining maturity: |  |  |
Farmer Mac Guaranteed Securities | 9.5 years |  | 9.5 years
AgVantage Securities | 3.7 years |  | 4.0 years
Schedule of Cash Flows Related To Transfer of Securitizations | The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations: Table 6.2
| For the Three Months Ended
| March 31, 2021 |  | March 31, 2020
| (in thousands)
Proceeds from new securitizations | $ | 49,133 |  |  | $ | 28,050 |
Guarantee fees received | 360 |  |  | 466 |
Schedule of Long-Term Standby Purchase Commitments | The following table presents the liability, the maximum principal amount of potential undiscounted future payments that Farmer Mac could be requested to make under all LTSPCs, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans, as well as the weighted-average remaining maturity of all loans underlying LTSPCs: Table 6.4
| As of March 31, 2021 |  | As of December 31, 2020
| (dollars in thousands)
Guarantee and commitment obligation(1) | $ | 32,910 |  |  | $ | 33,909 |
Maximum principal amount | 2,811,515 |  |  | 2,881,856 |
Weighted-average remaining maturity | 15.4 years |  | 15.3 years
(1) Relates to LTSPCs issued or modified on or after January 1, 2003.
Schedule of Reserve for Losses | The following table is a summary, by asset type, of the reserve for losses as of March 31, 2021 and December 31, 2020: Table 6.5
| March 31, 2021 |  | December 31, 2020
| Reserve for Losses |  | Reserve for Losses
| (in thousands)
Farm & Ranch: |  |  |
LTSPCs and Farmer Mac Guaranteed Securities | $ | 1,366 |  |  | $ | 2,097 |
Rural Utilities |  |  |
LTSPCs | 967 |  |  | 1,180 |
Total | $ | 2,333 |  |  | $ | 3,277 |
The following is a summary of the changes in the reserve for losses for the three month period ended March 31, 2021 and 2020: Table 6.6
| For the Three Months Ended
| March 31, 2021 |  | March 31, 2020
| Reserve for Losses |  | Reserve for Losses
| (in thousands)
Farm & Ranch: |  |  |
Balance as of December 31, | $ | 2,097 |  |  | $ | 2,164 |
Cumulative effect adjustment from adoption of current expected credit loss standard | — |  |  | (148) |
Adjusted Beginning Balance | 2,097 |  |  | 2,016 |
(Release of)/provision for losses | $ | (731) |  |  | $ | 4 |
Charge-offs | — |  |  | — |
Ending Balance | $ | 1,366 |  |  | $ | 2,020 |
Rural Utilities: |  |  |
Balance as of December 31, | $ | 1,180 |  |  | $ | — |
Cumulative effect adjustment from adoption of current expected credit loss standard | — |  |  | 1,011 |
Adjusted Beginning Balance | 1,180 |  |  | 1,011 |
(Release of)/provision for losses | $ | (213) |  |  | $ | 389 |
Charge-offs | — |  |  | — |
Ending Balance | $ | 967 |  |  | $ | 1,400 |
Schedule of Past Due Financing Receivables | The following table presents the unpaid principal balances by delinquency status of Farmer Mac's loans and non-performing assets as of March 31, 2021 and December 31, 2020: Table 5.4
| As of March 31, 2021
| Accruing |  |  |  |
| Current |  | 30-59 Days |  | 60-89 Days |  | 90 Days and Greater(2) |  | Total Past Due |  | Nonaccrual loans(3)(4) |  | Total Loans
| (in thousands)
Loans(1): |  |  |  |  |  |  |  |  |  |  |  |  |
Farm & Ranch | $ | 6,154,416 |  |  | $ | 4,733 |  |  | $ | 261 |  |  | $ | 14,150 |  |  | $ | 19,144 |  |  | $ | 129,407 |  |  | $ | 6,302,967 |
Rural Utilities | 2,247,104 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,247,104 |
Total | $ | 8,401,520 |  |  | $ | 4,733 |  |  | $ | 261 |  |  | $ | 14,150 |  |  | $ | 19,144 |  |  | $ | 129,407 |  |  | $ | 8,550,071 |
(1)Amounts represent unpaid principal balance of risk rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2)Includes loans in consolidated trusts with beneficial interests owned by third parties that are 90 days or more past due. (3)Includes loans that are 90 days or more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan. (4)Includes $58.1 million of nonaccrual loans for which there was no associated allowance. During the three months ended March 31, 2021, Farmer Mac received $1.1 million in interest on nonaccrual loans.
| As of December 31, 2020
| Accruing |  |  |  |
| Current |  | 30-59 Days |  | 60-89 Days |  | 90 Days and Greater(2) |  | Total Past Due |  | Nonaccrual loans(3)(4) |  | Total Loans
| (in thousands)
Loans(1): |  |  |  |  |  |  |  |  |  |  |  |  |
Farm & Ranch | $ | 6,055,154 |  |  | $ | 4,582 |  |  | $ | 632 |  |  | $ | 1,072 |  |  | $ | 6,286 |  |  | $ | 114,998 |  |  | $ | 6,176,438 |
Rural Utilities | 2,260,412 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,260,412 |
Total | $ | 8,315,566 |  |  | $ | 4,582 |  |  | $ | 632 |  |  | $ | 1,072 |  |  | $ | 6,286 |  |  | $ | 114,998 |  |  | $ | 8,436,850 |
(1)Amounts represent unpaid principal balance of risk rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2)Includes loans in consolidated trusts with beneficial interests owned by third parties that are 90 days or more past due. (3)Includes loans that are 90 days or more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan. (4)Includes $44.2 million of nonaccrual loans for which there was no associated allowance. During the year ended December 31, 2020, Farmer Mac received $4.4 million in interest on nonaccrual loans. The following table presents the unpaid principal balances by delinquency status of Farm & Ranch loans underlying LTSPCs. Farm & Ranch Farmer Mac Guaranteed Securities, Rural Utilities loans underlying LTSPCs, and non-performing assets as of March 31, 2021: Table 6.7
| As of March 31, 2021
| Current |  | 30-59 Days |  | 60-89 Days |  | 90 Days and Greater(1) |  | Total Past Due |  | Total Loans
| (in thousands)
Farm and Ranch: |  |  |  |  |  |  |  |  |  |  |
LTSPCs and Farmer Mac Guaranteed Securities | $ | 2,315,243 |  |  | $ | 3,901 |  |  | $ | 332 |  |  | $ | 6,909 |  |  | $ | 11,142 |  |  | $ | 2,326,385 |
Rural Utilities: |  |  |  |  |  |  |  |  |  |  |
LTSPCs | $ | 557,333 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 557,333 |
(1)Includes loans underlying off-balance sheet Farm & Ranch Guaranteed Securities and LTSPCs that are 90 days of more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan.
| As of December 31, 2020
| Current |  | 30-59 Days |  | 60-89 Days |  | 90 Days and Greater(1) |  | Total Past Due |  | Total Loans
| (in thousands)
Farm and Ranch: |  |  |  |  |  |  |  |  |  |  |
LTSPCs and Farmer Mac Guaranteed Securities | $ | 2,389,777 |  |  | $ | 2,189 |  |  | $ | 1,344 |  |  | $ | 11,433 |  |  | $ | 14,966 |  |  | $ | 2,404,743 |
Rural Utilities: |  |  |  |  |  |  |  |  |  |  |
LTSPCs | $ | 556,425 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 556,425 |
(1)Includes loans underlying off-balance sheet Farm & Ranch Guaranteed Securities and LTSPCs that are 90 days of more past due, in foreclosure, or in bankruptcy with at least one missed payment, excluding loans performing under either their original loan terms or a court-approved bankruptcy plan.
Schedule of Financing Receivable Credit Quality Indicators | The following tables present credit quality indicators related to Farm & Ranch loans and Rural Utilities loans held as of March 31, 2021 and December 31, 2020, by year of origination: Table 5.5
| As of March 31, 2021
| Year of Origination: |  |  |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Farm & Ranch(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | 542,638 |  |  | $ | 1,923,390 |  |  | $ | 724,202 |  |  | $ | 443,929 |  |  | $ | 399,931 |  |  | $ | 1,334,771 |  |  | $ | 482,993 |  |  | $ | 5,851,854 |
Special mention(2) | 16,079 |  |  | 102,656 |  |  | 56,723 |  |  | 16,292 |  |  | 2,569 |  |  | 23,003 |  |  | 11,804 |  |  | 229,126 |
Substandard(3) | — |  |  | 3,655 |  |  | 25,027 |  |  | 28,825 |  |  | 57,791 |  |  | 94,565 |  |  | 12,124 |  |  | 221,987 |
Total | $ | 558,717 |  |  | $ | 2,029,701 |  |  | $ | 805,952 |  |  | $ | 489,046 |  |  | $ | 460,291 |  |  | $ | 1,452,339 |  |  | $ | 506,921 |  |  | $ | 6,302,967 |
For the Three Months Ended March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Farm & Ranch net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
| As of March 31, 2021
| Year of Origination: |  |  |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Rural Utilities(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | 10,979 |  |  | $ | 639,730 |  |  | $ | 801,799 |  |  | $ | 8,181 |  |  | $ | 89,621 |  |  | $ | 650,486 |  |  | $ | 22,708 |  |  | $ | 2,223,504 |
Special mention(2) | — |  |  | 23,600 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 23,600 |
Substandard(3) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 10,979 |  |  | $ | 663,330 |  |  | $ | 801,799 |  |  | $ | 8,181 |  |  | $ | 89,621 |  |  | $ | 650,486 |  |  | $ | 22,708 |  |  | $ | 2,247,104 |
For the Three Months Ended March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Rural Utilities net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
| As of December 31, 2020
| Year of Origination: |  |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Farm & Ranch(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | 1,947,618 |  |  | $ | 774,315 |  |  | $ | 484,345 |  |  | $ | 500,768 |  |  | $ | 465,277 |  |  | $ | 1,068,693 |  |  | $ | 535,742 |  |  | $ | 5,776,758 |
Special mention(2) | 70,171 |  |  | 79,744 |  |  | 18,317 |  |  | 8,530 |  |  | 13,111 |  |  | 21,328 |  |  | 7,656 |  |  | 218,857 |
Substandard(3) | 3,400 |  |  | 5,821 |  |  | 21,879 |  |  | 52,709 |  |  | 37,173 |  |  | 50,582 |  |  | 9,259 |  |  | 180,823 |
Total | $ | 2,021,189 |  |  | $ | 859,880 |  |  | $ | 524,541 |  |  | $ | 562,007 |  |  | $ | 515,561 |  |  | $ | 1,140,603 |  |  | $ | 552,657 |  |  | $ | 6,176,438 |
For the Three Months Ended March 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Farm & Ranch net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
| As of December 31, 2020
| Year of Origination: |  |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Rural Utilities(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | 667,489 |  |  | $ | 809,921 |  |  | $ | 8,260 |  |  | $ | 89,842 |  |  | $ | 31,275 |  |  | $ | 641,145 |  |  | $ | 12,480 |  |  | $ | 2,260,412 |
Special mention(2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard(3) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 667,489 |  |  | $ | 809,921 |  |  | $ | 8,260 |  |  | $ | 89,842 |  |  | $ | 31,275 |  |  | $ | 641,145 |  |  | $ | 12,480 |  |  | $ | 2,260,412 |
For the Three Months Ended March 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Rural Utilities net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Amounts represent unpaid principal balance of risk-rated loans, which is the basis Farmer Mac uses to analyze its portfolio, and recorded investment of past due loans. (2)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (3)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected. The following tables present credit quality indicators related to Farm & Ranch loans underlying LTSPCs, Farm & Ranch Farmer Mac Guaranteed Securities, and Rural Utilities loans underlying LTSPCs as of March 31, 2021 and December 31, 2020, by year of origination: Table 6.8
| As of March 31, 2021
| Year of Origination: |  |  |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Farm & Ranch LTSPCs and Farmer Mac Guaranteed Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | 83,222 |  |  | $ | 181,684 |  |  | $ | 193,825 |  |  | $ | 178,134 |  |  | $ | 222,030 |  |  | $ | 1,071,479 |  |  | $ | 205,814 |  |  | $ | 2,136,188 |
Special mention(1) | — |  |  | 12,020 |  |  | 1,727 |  |  | 1,493 |  |  | 436 |  |  | 62,767 |  |  | 12,080 |  |  | 90,523 |
Substandard(2) | — |  |  | 242 |  |  | 736 |  |  | 12,335 |  |  | 14,415 |  |  | 67,712 |  |  | 4,234 |  |  | 99,674 |
Total | $ | 83,222 |  |  | $ | 193,946 |  |  | $ | 196,288 |  |  | $ | 191,962 |  |  | $ | 236,881 |  |  | $ | 1,201,958 |  |  | $ | 222,128 |  |  | $ | 2,326,385 |
For the Three Months Ended March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Farm & Ranch net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (2)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
| As of March 31, 2021
| Year of Origination: |  |  |  |
| 2021 |  | 2020 | 20 | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Rural Utilities LTSPCs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 538,541 |  |  | $ | 18,792 |  |  | $ | 557,333 |
Special mention(1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard(2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 538,541 |  |  | $ | 18,792 |  |  | $ | 557,333 |
For the Three Months Ended March 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Rural Utilities net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (2)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
| As of December 31, 2020
| Year of Origination: |  |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Farm & Ranch LTSPCs and Farmer Mac Guaranteed Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | 178,213 |  |  | $ | 213,620 |  |  | $ | 183,948 |  |  | $ | 237,042 |  |  | $ | 207,296 |  |  | $ | 969,860 |  |  | $ | 211,620 |  |  | $ | 2,201,599 |
Special mention(1) | 3,920 |  |  | 1,742 |  |  | 1,502 |  |  | 5,603 |  |  | 19,644 |  |  | 50,004 |  |  | 10,058 |  |  | 92,473 |
Substandard(2) | 264 |  |  | 10,250 |  |  | 12,611 |  |  | 14,578 |  |  | 7,841 |  |  | 60,602 |  |  | 4,525 |  |  | 110,671 |
Total | $ | 182,397 |  |  | $ | 225,612 |  |  | $ | 198,061 |  |  | $ | 257,223 |  |  | $ | 234,781 |  |  | $ | 1,080,466 |  |  | $ | 226,203 |  |  | $ | 2,404,743 |
For the Three Months Ended March 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Farm & Ranch net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (2)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.
| As of December 31, 2020
| Year of Origination: |  |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Revolving Loans - Amortized Cost Basis |  | Total
| (in thousands)
Rural Utilities LTSPCs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internally Assigned Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acceptable | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 549,405 |  |  | $ | 7,020 |  |  | $ | 556,425 |
Special mention(1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard(2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 549,405 |  |  | $ | 7,020 |  |  | $ | 556,425 |
For the Three Months Ended March 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current period recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current period Rural Utilities net charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Assets in the "Special mention" category generally have potential weaknesses due to performance issues but are currently considered to be adequately secured. (2)Substandard assets have a well-defined weakness or weaknesses and there is a distinct possibility that some loss will be sustained if deficiencies are not corrected.

X
- Definition Schedule of Cash Flows Related To Transfer of Securitizations [Table Text Block] + References No definition available. + Details
Name: | agm_ScheduleOfCashFlowsRelatedToTransferOfSecuritizationsTableTextBlock
Namespace Prefix: | agm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Long-Term Standby Purchase Commitments + References No definition available. + Details
Name: | agm_ScheduleOfLongTermStandbyPurchaseCommitmentsTableTextBlock
Namespace Prefix: | agm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Reserve for Losses + References No definition available. + Details
Name: | agm_ScheduleOfReserveForLossesTableTextBlock
Namespace Prefix: | agm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=121647567&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12069-110248 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12265-110248 + Details
Name: | us-gaap_ScheduleOfGuaranteeObligationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration