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Financial Derivatives - (Tables)
 12 Months Ended
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments [Table Text Block]
The following tables summarize information related to Farmer Mac's financial derivatives on a gross basis without giving consideration to master netting arrangements as of December 31, 2014 and 2013 and the effects of financial derivatives on the consolidated statements of operations for the year ended December 31, 2014, 2013, and 2012:

Table 6.1

  
As of December 31, 2014
  
 
 
Fair Value
 
Weighted-
Average
Pay Rate
 
Weighted-
Average Receive Rate
 
Weighted-
Average
Forward
Price
 
Weighted-
Average
Remaining
Life (in years)
  
Notional Amount
 
Asset
 
(Liability)
 
 
 
 
  
(dollars in thousands)
Fair value hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
$
1,000,000

 
$
—

 
$
(31,718
)
 
2.47%
 
0.23%
 
 
 
3.98
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
15,000

 
—

 
(289
)
 
2.43%
 
0.51%
 
 
 
6.23
No hedge designation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
490,183

 
537

 
(51,224
)
 
4.23%
 
0.23%
 
 
 
7.05
Receive fixed non-callable
3,829,355

 
3,414

 
(461
)
 
0.14%
 
0.27%
 
 
 
0.55
Receive fixed callable
383,565

 
1

 
(877
)
 
0.12%
 
1.34%
 
 
 
3.47
Basis swaps
1,105,000

 
247

 
(406
)
 
0.11%
 
0.31%
 
 
 
2.42
Agency forwards
12,768

 
—

 
(53
)
 
 
 
 
 
101.00

 
 
Treasury futures
1,700

 
—

 
(3
)
 
 
 
 
 
126.60

 
 
Credit valuation adjustment
 
 
(22
)
 
187

 
 
 
 
 
 
 
 
Total financial derivatives
$
6,837,571

 
$
4,177

 
$
(84,844
)
 
  
 
  
 
 
 
  
Collateral pledged
 
 
—

 
46,627

 
 
 
 
 
 
 
 
Net amount
 
 
$
4,177

 
$
(38,217
)
 
 
 
 
 
 
 
 
  
As of December 31, 2013
  

 
Fair Value
 
Weighted-
Average
Pay Rate
 
Weighted-
Average Receive Rate
 
Weighted-
Average
Forward
Price
 
Weighted-
Average
Remaining
Life (in years)
  
Notional Amount
 
Asset
 
(Liability)
 
 
 
 
  
(dollars in thousands)
Fair value hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
$
900,000

 
$
—

 
$
(28,989
)
 
2.25%
 
0.24%
 
 
 
3.25
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
10,000

 
68

 
—

 
2.50%
 
0.48%
 
 
 
6.95
No hedge designation:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pay fixed non-callable
806,596

 
7,570

 
(45,360
)
 
4.63%
 
0.24%
 
 
 
4.86
Receive fixed non-callable
4,324,663

 
11,836

 
(262
)
 
0.27%
 
0.70%
 
 
 
0.53
Receive fixed callable
175,000

 
83

 
(934
)
 
0.10%
 
0.65%
 
 
 
3.30
Basis swaps
404,288

 
276

 
(318
)
 
0.32%
 
0.29%
 
 
 
1.52
Agency forwards
65,704

 
86

 
—

 
 
 
 
 
98.91

 
 
Treasury futures
5,600

 
—

 
(1
)
 
 
 
 
 
123.02

 
 
Credit valuation adjustment
 
 
(201
)
 
156

 
 
 
 
 
 
 
 
Total financial derivatives
$
6,691,851

 
$
19,718

 
$
(75,708
)
 
  
 
  
 
 
 
  
Collateral pledged
 
 
—

 
11,320

 
 
 
 
 
 
 
 
Net amount
 
 
$
19,718

 
$
(64,388
)
 
 
 
 
 
 
 
 
Derivative Instruments, Gain (Loss) [Table Text Block]
Table 6.2

 
(Losses)/gains on financial derivatives and hedging activities
  
For the Year Ended December 31,
  
2014
 
2013
 
2012
 
(in thousands)
Fair value hedges:
 
 
 
 
 
Interest rate swaps (1)
$
(2,729
)
 
$
29,538

 
$
(404
)
Hedged items
14,520

 
(18,230
)
 
6,388

Gains on hedging activities
11,791

 
11,308

 
5,984

No hedge designation:
 
 
 
 
 
Interest rate swaps
(31,111
)
 
21,355

 
(24,763
)
Agency forwards
(1,842
)
 
(1,002
)
 
(828
)
Treasury futures
(484
)
 
103

 
(129
)
Credit default swaps
—

 
—

 
(93
)
(Losses)/gains on financial derivatives not designated in hedging relationships
(33,437
)
 
20,456

 
(25,813
)
(Losses)/gains on financial derivatives and hedging activities
$
(21,646
)
 
$
31,764

 
$
(19,829
)
(1)
Included in the assessment of hedge effectiveness as of December 31, 2014, but excluded from the amounts in the table, were losses of $11.6 million for the year ended December 31, 2014, attributable to the fair value of the swaps at the inception of the hedging relationship. Accordingly, the amounts recognized as hedge ineffectiveness for the year ended December 31, 2014 were losses of $0.2 million. The comparable amounts as of December 31, 2013 were losses of $11.8 million for the year ended December 31, 2013, attributable to the fair value of the swaps at the inception of the hedging relationship and, accordingly, gains of $0.5 million for the year ended December 31, 2013, attributable to hedge ineffectiveness. The comparable amounts as of December 31, 2012 were losses of $6.1 million for the year ended December 31, 2012, attributable to the fair value of the swaps at the inception of the hedging relationship and, accordingly, gains of $0.1 million for the year ended December 31, 2012, attributable to hedge ineffectiveness.