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Financial Derivatives - Schedule of Net Income/(Expense) Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Investments and cash equivalents | $ 4,121 | $ 7,096 | $ 14,107 | $ 35,236
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | 38,428 | 45,335 | 123,246 | 178,644
Interest Income Loans | 61,923 | 56,204 | 181,631 | 172,230
Total interest expense | (49,467) | (63,974) | (155,599) | (251,789)
Losses on financial derivatives | (2,347) | (564) | (1,120) | (3,339)
Total amounts presented in the consolidated statement of operations | 52,658 | 37,001 | 162,265 | 95,746
Interest expense on interest rate swaps | 1,791 | 2,384 | 11,154 | 8,567
Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | (43,732) | (61,943) | (212,845) | 323,019
Gains/(losses) on fair value hedging relationships | (1,920) | (5,047) | (3,299) | (13,109)
Cash flow hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Discount amortization recognized on hedged items | (11) | (4) | (25) | (6)
Interest settlements reclassified from AOCI into net income on derivatives | (1,932) | (1,814) | (5,454) | (3,817)
Recognized on hedged items | (685) | (711) | (1,983) | (3,863)
Expense recognized on cash flow hedges | (2,628) | (2,529) | (7,462) | (7,686)
Designated as hedge | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | 28,088 | 30,076 | 88,670 | 85,495
Discount amortization recognized on hedged items | (287) | (191) | (765) | (552)
No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | (2,347) | (564) | (1,120) | (3,339)
Interest Income Investments and Cash Equivalents | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | (1,737) |  | (1,549) |
Gains/(losses) on fair value hedging relationships | 90 |  | 102 |
Interest Income Investments and Cash Equivalents | 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 Investments and Cash Equivalents | Designated as hedge | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | 274 |  | 341 |
Discount amortization recognized on hedged items | 0 |  | 0 |
Interest Income Investments and Cash Equivalents | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 |  | 0 |
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | (31,523) | (41,855) | (150,445) | 257,575
Gains/(losses) on fair value hedging relationships | (1,463) | (3,492) | (988) | (7,222)
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 | 0 | 0
Interest settlements reclassified from AOCI into net income on derivatives | 0 | 0 | 0 | 0
Recognized on hedged items | 0 | 0 | 0 | 0
Expense recognized on cash flow hedges | 0 | 0 | 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 | 28,937 | 31,439 | 90,278 | 95,366
Discount amortization recognized on hedged items | 0 | 0 | 0 | 0
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Interest Income Loans | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | (19,184) | (29,372) | (99,955) | 119,072
Gains/(losses) on fair value hedging relationships | 468 | (1,174) | 321 | (5,250)
Interest Income Loans | Cash flow hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Discount amortization recognized on hedged items | 0 | 0 | 0 | 0
Interest settlements reclassified from AOCI into net income on derivatives | 0 | 0 | 0 | 0
Recognized on hedged items | 0 | 0 | 0 | 0
Expense recognized on cash flow hedges | 0 | 0 | 0 | 0
Interest Income Loans | Designated as hedge | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | 11,817 | 10,965 | 34,940 | 29,454
Discount amortization recognized on hedged items | 0 | 0 | 0 | 0
Interest Income Loans | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Total Interest Expense | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | 8,712 | 9,284 | 39,104 | (53,628)
Gains/(losses) on fair value hedging relationships | (1,015) | (381) | (2,734) | (637)
Total Interest Expense | Cash flow hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Discount amortization recognized on hedged items | (11) | (4) | (25) | (6)
Interest settlements reclassified from AOCI into net income on derivatives | (1,932) | (1,814) | (5,454) | (3,817)
Recognized on hedged items | (685) | (711) | (1,983) | (3,863)
Expense recognized on cash flow hedges | (2,628) | (2,529) | (7,462) | (7,686)
Total Interest Expense | Designated as hedge | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | (12,940) | (12,328) | (36,889) | (39,325)
Discount amortization recognized on hedged items | (287) | (191) | (765) | (552)
Total Interest Expense | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Losses on financial derivatives | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | 0 | 0 | 0 | 0
Gains/(losses) on fair value hedging relationships | 0 | 0 | 0 | 0
Losses on financial derivatives | Cash flow hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Discount amortization recognized on hedged items | 0 | 0 | 0 | 0
Interest settlements reclassified from AOCI into net income on derivatives | 0 | 0 | 0 | 0
Recognized on hedged items | 0 | 0 | 0 | 0
Expense recognized on cash flow hedges | 0 | 0 | 0 | 0
Losses on financial derivatives | Designated as hedge | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on hedged items | 0 | 0 | 0 | 0
Discount amortization recognized on hedged items | 0 | 0 | 0 | 0
Losses on financial derivatives | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | (2,347) | (564) | (1,120) | (3,339)
Interest Rate Swap | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on derivatives | (17,091) | (16,962) | (54,150) | (34,717)
Income/(expense) related to interest settlements on fair value hedging relationships | 10,710 | 12,923 | 33,755 | 50,226
Recognized on derivatives | 41,812 | 56,896 | 209,546 | (336,128)
Interest Rate Swap | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | (2,093) | (4,292) | (4,363) | (2,415)
Interest expense on interest rate swaps | 168 | 3,800 | 3,489 | 1,143
Interest Rate Swap | Interest Income Investments and Cash Equivalents | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on derivatives | (141) |  | (177) |
Income/(expense) related to interest settlements on fair value hedging relationships | 133 |  | 164 |
Recognized on derivatives | 1,827 |  | 1,651 |
Interest Rate Swap | Interest Income Investments and Cash Equivalents | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 |  | 0 |
Interest expense on interest rate swaps | 0 |  | 0 |
Interest Rate Swap | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on derivatives | (20,925) | (20,373) | (63,966) | (38,781)
Income/(expense) related to interest settlements on fair value hedging relationships | 8,012 | 11,066 | 26,312 | 56,585
Recognized on derivatives | 30,060 | 38,363 | 149,457 | (264,797)
Interest Rate Swap | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Interest expense on interest rate swaps | 0 | 0 | 0 | 0
Interest Rate Swap | Interest Income Loans | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on derivatives | (6,911) | (6,194) | (20,185) | (12,607)
Income/(expense) related to interest settlements on fair value hedging relationships | 4,906 | 4,771 | 14,755 | 16,847
Recognized on derivatives | 19,652 | 28,198 | 100,276 | (124,322)
Interest Rate Swap | Interest Income Loans | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Interest expense on interest rate swaps | 0 | 0 | 0 | 0
Interest Rate Swap | Total Interest Expense | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on derivatives | 10,886 | 9,605 | 30,178 | 16,671
Income/(expense) related to interest settlements on fair value hedging relationships | (2,341) | (2,914) | (7,476) | (23,206)
Recognized on derivatives | (9,727) | (9,665) | (41,838) | 52,991
Interest Rate Swap | Total Interest Expense | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Interest expense on interest rate swaps | 0 | 0 | 0 | 0
Interest Rate Swap | Losses on financial derivatives | Fair value hedges: |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Recognized on derivatives | 0 | 0 | 0 | 0
Income/(expense) related to interest settlements on fair value hedging relationships | 0 | 0 | 0 | 0
Recognized on derivatives | 0 | 0 | 0 | 0
Interest Rate Swap | Losses on financial derivatives | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | (2,093) | (4,292) | (4,363) | (2,415)
Interest expense on interest rate swaps | 168 | 3,800 | 3,489 | 1,143
Treasury futures | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | (422) | (72) | (246) | (2,067)
Treasury futures | Interest Income Investments and Cash Equivalents | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 |  | 0 |
Treasury futures | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Treasury futures | Interest Income Loans | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Treasury futures | Total Interest Expense | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | 0 | 0 | 0 | 0
Treasury futures | Losses on financial derivatives | No hedge designation |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Losses on financial derivatives | $ (422) | $ (72) | $ (246) | $ (2,067)

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