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NOTES PAYABLE (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | The following tables set forth information related to Farmer Mac's borrowings as of June 30, 2025 and December 31, 2024: Table 7.1
| June 30, 2025
| Outstanding as of June 30 |  | Average Outstanding During the Quarter
| Amount |  | Weighted- Average Rate |  | Amount |  | Weighted- Average Rate
| (dollars in thousands)
Due within one year: |  |  |  |  |  |  |
Discount notes | $ | 1,972,497 |  |  | 4.13 | % |  | $ | 1,796,150 |  |  | 4.29 | %
Medium-term notes | 3,260,919 |  |  | 4.33 | % |  | 2,990,808 |  |  | 4.41 | %
Current portion of medium-term notes | 5,050,291 |  |  | 2.82 | % |  |  |  |
Total due within one year | $ | 10,283,707 |  |  | 3.55 | % |  |  |  |
Due after one year: |  |  |  |  |  |  |
Medium-term notes due in: |  |  |  |  |  |  |
Two years | $ | 6,235,077 |  |  | 3.25 | % |  |  |  |
Three years | 3,464,128 |  |  | 3.85 | % |  |  |  |
Four years | 2,953,903 |  |  | 4.33 | % |  |  |  |
Five years | 3,036,068 |  |  | 4.15 | % |  |  |  |
Thereafter | 2,904,357 |  |  | 2.75 | % |  |  |  |
Total due after one year | $ | 18,593,533 |  |  | 3.60 | % |  |  |  |
Total principal net of discounts | $ | 28,877,240 |  |  | 3.58 | % |  |  |  |
Hedging adjustments | (33,909) |  |  |  |  |  |  |
Total | $ | 28,843,331 |  |  |  |  |  |  |
| December 31, 2024
| 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 | $ | 2,167,258 |  |  | 4.42 | % |  | $ | 1,928,884 |  |  | 5.11 | %
Medium-term notes | 2,343,264 |  |  | 4.64 | % |  | 1,000,290 |  |  | 5.28 | %
Current portion of medium-term notes | 5,927,101 |  |  | 3.20 | % |  |  |  |
Total due within one year | $ | 10,437,623 |  |  | 3.77 | % |  |  |  |
Due after one year: |  |  |  |  |  |  |
Medium-term notes due in: |  |  |  |  |  |  |
Two years | $ | 4,844,538 |  |  | 2.66 | % |  |  |  |
Three years | 3,822,999 |  |  | 3.53 | % |  |  |  |
Four years | 2,732,980 |  |  | 4.13 | % |  |  |  |
Five years | 2,491,831 |  |  | 4.41 | % |  |  |  |
Thereafter | 3,190,202 |  |  | 2.63 | % |  |  |  |
Total due after one year | $ | 17,082,550 |  |  | 3.34 | % |  |  |  |
Total principal net of discounts | $ | 27,520,173 |  |  | 3.51 | % |  |  |  |
Hedging adjustments | (148,999) |  |  |  |  |  |  |
Total | $ | 27,371,174 |  |  |  |  |  |  |
The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2025 as of June 30, 2025: Table 7.2
Debt Callable in 2025 as of June 30, 2025, by Maturity
| Amount |  | Weighted-Average Rate
| (dollars in thousands)
Maturity: |  |  |
2026 | $ | 1,390,218 |  |  | 1.90 | %
2027 | 769,600 |  |  | 2.55 | %
2028 | 381,423 |  |  | 3.29 | %
2029 | 268,631 |  |  | 3.85 | %
Thereafter | 1,792,514 |  |  | 2.18 | %
Total | $ | 4,602,386 |  |  | 2.35 | %
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, 2025, 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: |  |  |
2025 | $ | 9,702,818 |  |  | 3.99 | %
2026 | 5,683,172 |  |  | 2.80 | %
2027 | 3,739,710 |  |  | 3.41 | %
2028 | 3,111,646 |  |  | 4.06 | %
2029 | 2,490,082 |  |  | 4.31 | %
Thereafter | 4,149,812 |  |  | 3.07 | %
Total principal net of discounts | $ | 28,877,240 |  |  | 3.58 | %

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