XML 56 R45.htm IDEA: XBRL DOCUMENT
v3.21.1

Financial Derivatives - Schedule of Net Income/(Expense) Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2021 | Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items] |  |
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | $ 42,404 | $ 71,517
Interest Income Loans | 59,494 | 60,596
Total interest expense | (54,176) | (108,542)
Gains/(losses) on financial derivatives | 4,293 | (9,298)
Total amounts presented in the consolidated statement of operations | 52,015 | 14,273
Interest expense on interest rate swaps | 8,837 | (5,088)
Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | (284,049) | 375,223
(Losses)/gains on fair value hedging relationships | 345 | (5,681)
Cash flow hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Discount amortization recognized on hedged items | (7) | (1)
Interest settlements reclassified from AOCI into net income on derivatives | (1,746) | (439)
Recognized on hedged items | (655) | (2,123)
Expense recognized on cash flow hedges | (2,408) | (2,563)
Designated as hedge | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | 30,454 | 26,227
Discount amortization recognized on hedged items | (221) | (180)
No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 4,293 | (9,298)
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | (168,801) | 290,379
(Losses)/gains on fair value hedging relationships | (723) | (3,553)
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Cash flow hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Discount amortization recognized on hedged items | 0 | 0
Interest settlements reclassified from AOCI into net income on derivatives | 0 | 0
Recognized on hedged items | 0 | 0
Expense recognized on cash flow hedges | 0 | 0
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Designated as hedge | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | 30,775 | 31,826
Discount amortization recognized on hedged items | 0 | 0
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Interest Income Loans | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | (144,749) | 145,409
(Losses)/gains on fair value hedging relationships | 1,022 | (497)
Interest Income Loans | Cash flow hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Discount amortization recognized on hedged items | 0 | 0
Interest settlements reclassified from AOCI into net income on derivatives | 0 | 0
Recognized on hedged items | 0 | 0
Expense recognized on cash flow hedges | 0 | 0
Interest Income Loans | Designated as hedge | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | 11,487 | 8,677
Discount amortization recognized on hedged items | 0 | 0
Interest Income Loans | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Total Interest Expense | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | 29,501 | (60,565)
(Losses)/gains on fair value hedging relationships | 46 | (1,631)
Total Interest Expense | Cash flow hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Discount amortization recognized on hedged items | (7) | (1)
Interest settlements reclassified from AOCI into net income on derivatives | (1,746) | (439)
Recognized on hedged items | (655) | (2,123)
Expense recognized on cash flow hedges | (2,408) | (2,563)
Total Interest Expense | Designated as hedge | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | (11,808) | (14,276)
Discount amortization recognized on hedged items | (221) | (180)
Total Interest Expense | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Gains on financial derivatives | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | 0 | 0
(Losses)/gains on fair value hedging relationships | 0 | 0
Gains on financial derivatives | Cash flow hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Discount amortization recognized on hedged items | 0 | 0
Interest settlements reclassified from AOCI into net income on derivatives | 0 | 0
Recognized on hedged items | 0 | 0
Expense recognized on cash flow hedges | 0 | 0
Gains on financial derivatives | Designated as hedge | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on hedged items | 0 | 0
Discount amortization recognized on hedged items | 0 | 0
Gains on financial derivatives | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 4,293 | (9,298)
Interest Rate Swap | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on derivatives | (18,528) | (6,395)
Income/(expense) related to interest settlements on fair value hedging relationships | 11,705 | 19,652
Recognized on derivatives | 284,394 | (380,904)
Interest Rate Swap | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 1,470 | (6,550)
Interest expense on interest rate swaps | 2,223 | (862)
Interest Rate Swap | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on derivatives | (21,437) | (6,152)
Income/(expense) related to interest settlements on fair value hedging relationships | 9,338 | 25,674
Recognized on derivatives | 168,078 | (293,932)
Interest Rate Swap | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Interest expense on interest rate swaps | 0 | 0
Interest Rate Swap | Interest Income Loans | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on derivatives | (6,572) | (1,877)
Income/(expense) related to interest settlements on fair value hedging relationships | 4,915 | 6,800
Recognized on derivatives | 145,771 | (145,906)
Interest Rate Swap | Interest Income Loans | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Interest expense on interest rate swaps | 0 | 0
Interest Rate Swap | Total Interest Expense | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on derivatives | 9,481 | 1,634
Income/(expense) related to interest settlements on fair value hedging relationships | (2,548) | (12,822)
Recognized on derivatives | (29,455) | 58,934
Interest Rate Swap | Total Interest Expense | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Interest expense on interest rate swaps | 0 | 0
Interest Rate Swap | Gains on financial derivatives | Fair value hedges: |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Recognized on derivatives | 0 | 0
Income/(expense) related to interest settlements on fair value hedging relationships | 0 | 0
Recognized on derivatives | 0 | 0
Interest Rate Swap | Gains on financial derivatives | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 1,470 | (6,550)
Interest expense on interest rate swaps | 2,223 | (862)
Treasury futures | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 600 | (1,886)
Treasury futures | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Treasury futures | Interest Income Loans | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Treasury futures | Total Interest Expense | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | 0 | 0
Treasury futures | Gains on financial derivatives | No hedge designation |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |
Gains/(losses) on financial derivatives | $ 600 | $ (1,886)

X
- Definition Derivative Net Hedge Ineffectiveness Gain Loss Component Recognized On Hedged Item + References No definition available. + Details
Name: | agm_DerivativeNetHedgeIneffectivenessGainLossComponentRecognizedOnHedgedItem
Namespace Prefix: | agm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Derivative Net Interest Settlements (Interest Accruals) + References No definition available. + Details
Name: | agm_DerivativeNetInterestSettlements
Namespace Prefix: | agm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Hedged Item Net Interest Settlements (Interest Accruals) + References No definition available. + Details
Name: | agm_HedgedItemNetInterestSettlements
Namespace Prefix: | agm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Income_Expense related to interest settlements on fair value hedges + References No definition available. + Details
Name: | agm_Income_Expenserelatedtointerestsettlementsonfairvaluehedges
Namespace Prefix: | agm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Premium (Discount), Recognized on Hedged Instrument + References No definition available. + Details
Name: | agm_PremiumDiscountRecognizedOnHedgedInstrument
Namespace Prefix: | agm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Total Amounts of Line Items Presented in the Consolidated Statement of Income + References No definition available. + Details
Name: | agm_TotalAmountsOfLineItemsPresentedInTheConsolidatedStatementOfIncome
Namespace Prefix: | agm_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=121577467&loc=d3e76258-113986 + Details
Name: | us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of the increase (decrease) in fair value of the hedged item in a fair value hedge recognized in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=121577467&loc=d3e76258-113986 + Details
Name: | us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsGainLossLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 + Details
Name: | us-gaap_GainLossOnDerivativeInstrumentsNetPretax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Total amount of gain (loss) derived from fair value hedges recognized in earnings in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.1) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestAndFeeIncomeLoansAndLeases
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28555-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1(e)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
Name: | us-gaap_InterestIncomeOperating
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_NoninterestIncome
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, after tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e689-108580 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e637-108580 + Details
Name: | us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount before tax of reclassification adjustments of other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17B -URI http://asc.fasb.org/extlink&oid=121641772&loc=SL34724394-108580 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_FairValueHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_CashFlowHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=us-gaap_InterestIncomeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=us-gaap_LoansAndFinanceReceivablesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=us-gaap_InterestExpenseMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=us-gaap_GainLossOnDerivativeInstrumentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_FutureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |