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FAIR VALUE DISCLOSURES - Schedule of Fair Value Measurements (Details) - USD ($) $ in Thousands | Sep. 30, 2024 | Dec. 31, 2023
--- | --- | ---
Assets: |  |
Financial derivatives | $ 49,197 | $ 37,478
Liabilities: |  |
Financial derivatives | 64,351 | 117,131
Investment securities |  |
Assets: |  |
Available-for-sale, at fair value | 5,877,936 | $ 4,918,931
Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | $ 5,761,691 |
Level 3 |  |
Liabilities: |  |
Percent of level three fair value assets and liabilities | 19.00% | 19.00%
Financial instruments level three percent | 49.00% | 52.00%
Recurring |  |
Assets: |  |
Financial derivatives | $ 49,197 | $ 37,478
Guarantee Asset | 5,556 | 5,831
Total Assets at fair value | 11,695,222 | 10,495,960
Liabilities: |  |
Financial derivatives | 64,351 | 117,131
Total Liabilities at fair value | 64,351 | 117,131
Recurring | USDA Securities |  |
Assets: |  |
Trading | 842 | 1,241
Recurring | Investment securities |  |
Assets: |  |
Available-for-sale, at fair value | 5,877,936 | 4,918,931
Recurring | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 5,761,691 | 5,532,479
Recurring | Level 1 |  |
Assets: |  |
Financial derivatives | 138 | 11
Guarantee Asset | 0 | 0
Total Assets at fair value | 1,278,403 | 905,811
Liabilities: |  |
Financial derivatives | 0 | 91
Total Liabilities at fair value | 0 | 91
Recurring | Level 1 | USDA Securities |  |
Assets: |  |
Trading | 0 | 0
Recurring | Level 1 | Investment securities |  |
Assets: |  |
Available-for-sale, at fair value | 1,278,265 | 905,800
Recurring | Level 1 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Recurring | Level 2 |  |
Assets: |  |
Financial derivatives | 49,059 | 37,467
Guarantee Asset | 0 | 0
Total Assets at fair value | 4,629,252 | 4,031,516
Liabilities: |  |
Financial derivatives | 64,351 | 117,040
Total Liabilities at fair value | 64,351 | 117,040
Recurring | Level 2 | USDA Securities |  |
Assets: |  |
Trading | 0 | 0
Recurring | Level 2 | Investment securities |  |
Assets: |  |
Available-for-sale, at fair value | 4,580,193 | 3,994,049
Recurring | Level 2 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Recurring | Level 3 |  |
Assets: |  |
Financial derivatives | 0 | 0
Guarantee Asset | 5,556 | 5,831
Total Assets at fair value | 5,787,567 | 5,558,633
Liabilities: |  |
Financial derivatives | 0 | 0
Total Liabilities at fair value | 0 | 0
Recurring | Level 3 | USDA Securities |  |
Assets: |  |
Trading | 842 | 1,241
Recurring | Level 3 | Investment securities |  |
Assets: |  |
Available-for-sale, at fair value | 19,478 | 19,082
Recurring | Level 3 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 5,761,691 | 5,532,479
AgVantage | Recurring | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 5,752,385 | 5,522,712
AgVantage | Recurring | Level 1 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
AgVantage | Recurring | Level 2 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
AgVantage | Recurring | Level 3 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 5,752,385 | 5,522,712
Farmer Mac Guaranteed USDA Securities | Recurring | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 9,306 | 9,767
Farmer Mac Guaranteed USDA Securities | Recurring | Level 1 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Farmer Mac Guaranteed USDA Securities | Recurring | Level 2 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Farmer Mac Guaranteed USDA Securities | Recurring | Level 3 | Farmer Mac Guaranteed Securities |  |
Assets: |  |
Available-for-sale, at fair value | 9,306 | 9,767
USDA Securities | Recurring | USDA Securities |  |
Assets: |  |
Trading | 842 | 1,241
USDA Securities | Recurring | Level 1 | USDA Securities |  |
Assets: |  |
Trading | 0 | 0
USDA Securities | Recurring | Level 2 | USDA Securities |  |
Assets: |  |
Trading | 0 | 0
USDA Securities | Recurring | Level 3 | USDA Securities |  |
Assets: |  |
Trading | 842 | 1,241
Floating interest rate | Floating rate auction-rate certificates backed by Government guaranteed student loans |  |
Assets: |  |
Available-for-sale, at fair value | 19,478 | 19,082
Floating interest rate | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 2,436,435 | 2,424,434
Floating interest rate | US Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 49,968
Floating interest rate | Recurring | Floating rate auction-rate certificates backed by Government guaranteed student loans |  |
Assets: |  |
Available-for-sale, at fair value | 19,478 | 19,082
Floating interest rate | Recurring | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 2,436,435 | 2,424,434
Floating interest rate | Recurring | Floating rate U.S. Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 49,968
Floating interest rate | Recurring | Level 1 | Floating rate auction-rate certificates backed by Government guaranteed student loans |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Floating interest rate | Recurring | Level 1 | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Floating interest rate | Recurring | Level 1 | Floating rate U.S. Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 49,968
Floating interest rate | Recurring | Level 2 | Floating rate auction-rate certificates backed by Government guaranteed student loans |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Floating interest rate | Recurring | Level 2 | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 2,436,435 | 2,424,434
Floating interest rate | Recurring | Level 2 | Floating rate U.S. Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Floating interest rate | Recurring | Level 3 | Floating rate auction-rate certificates backed by Government guaranteed student loans |  |
Assets: |  |
Available-for-sale, at fair value | 19,478 | 19,082
Floating interest rate | Recurring | Level 3 | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Floating interest rate | Recurring | Level 3 | Floating rate U.S. Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Fixed Interest Rate | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 2,143,758 | 1,569,615
Fixed Interest Rate | US Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 1,278,265 | 855,832
Fixed Interest Rate | Recurring | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 2,143,758 | 1,569,615
Fixed Interest Rate | Recurring | US Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 1,278,265 | 855,832
Fixed Interest Rate | Recurring | Level 1 | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Fixed Interest Rate | Recurring | Level 1 | US Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 1,278,265 | 855,832
Fixed Interest Rate | Recurring | Level 2 | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 2,143,758 | 1,569,615
Fixed Interest Rate | Recurring | Level 2 | US Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Fixed Interest Rate | Recurring | Level 3 | Guaranteed mortgage-backed securities |  |
Assets: |  |
Available-for-sale, at fair value | 0 | 0
Fixed Interest Rate | Recurring | Level 3 | US Treasuries |  |
Assets: |  |
Available-for-sale, at fair value | $ 0 | $ 0

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