Guarantees and Long-Term Standby Purchase Commitments (Tables)

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of March 31, 2019 and December 31, 2018, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans:

Table 6.1



Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities
	As of March 31, 2019		As of December 31, 2018
	(in thousands)
Farm & Ranch:
Guaranteed Securities	$	128,221	$	135,862
USDA Guarantees:
Farmer Mac Guaranteed USDA Securities	376,487		367,684
Institutional Credit:
AgVantage Securities	9,898		9,898
Revolving floating rate AgVantage facility⁽¹⁾	300,000		300,000
Total off-balance sheet Farmer Mac Guaranteed Securities	$	814,606	$	813,444


⁽¹⁾	Relates to a revolving floating rate AgVantage facility subject to specified contractual terms. Farmer Mac receives a fixed fee based on the full dollar amount of the facility.

Schedule of Cash Flows Related To Transfer of Securitizations

The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations:

Table 6.2



	For the Three Months Ended
	March 31, 2019			March 31, 2018
	(in thousands)
Proceeds from new securitizations	$	116,708		$	131,202
Guarantee fees received	442			546
Purchases of assets from the trusts⁽¹⁾	(4,721		)	(721		)


⁽¹⁾	Previously reported as loans held for investment in consolidated trust, at amortized cost, on the consolidated balance sheets. Upon purchase, these loans were reclassified to loans held for investment on the consolidated balance sheets.