XML 69 R57.htm IDEA: XBRL DOCUMENT v3.22.4
Financial Derivatives - Schedule of Net Income/(Expense) Recognized (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]      
Investments and cash equivalents $ 82,659 $ 18,660 $ 42,144
Interest Income Farmer Mac Guaranteed Securities and USDA Securities 283,769 164,723 232,951
Interest Income Loans 350,420 242,582 233,699
Total interest expense (445,908) (204,014) (312,946)
Gains on financial derivatives 22,631 324 1,744
Total 293,571 222,275 155,448
Noninterest Income 38,688 23,066 18,043
Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items (514,121) (179,407) 230,330
Gains/(losses) on fair value hedging relationships 5,802 (340) (3,924)
Cash flow hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Premium/discount amortization recognized on hedged items (57) (37) (13)
Interest settlements reclassified from AOCI into net income on derivatives 1,213 (7,399) (5,570)
Recognized on hedged items (12,847) (2,657) (4,553)
Expense recognized on cash flow hedges (11,691) (10,093) (10,136)
Designated as hedge | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items 82,743 117,046 115,733
Premium/discount amortization recognized on hedged items (2,870) (1,118) (745)
No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 22,631 324 1,744
Interest Income Investments and Cash Equivalents | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items (105,889) (1,218) 202,624
Gains/(losses) on fair value hedging relationships (1,167) 470  
Interest Income Investments and Cash Equivalents | Cash flow hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Premium/discount amortization recognized on hedged items 0 0 0
Interest settlements reclassified from AOCI into net income on derivatives 0 0 0
Recognized on hedged items 0 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 16,199 1,792 126,170
Premium/discount amortization recognized on hedged items (754) 0 0
Interest Income Investments and Cash Equivalents | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains 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 (553,393) (176,304)  
Gains/(losses) on fair value hedging relationships 137 1,948 1,603
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | Cash flow hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Premium/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 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 142,809 119,896  
Premium/discount amortization recognized on hedged items 0 0  
Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Interest Income Loans | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items (341,162) (97,502) 73,426
Gains/(losses) on fair value hedging relationships 9,954 (43) (3,139)
Interest Income Loans | Cash flow hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Premium/discount amortization recognized on hedged items 0 0 0
Interest settlements reclassified from AOCI into net income on derivatives 0 0 0
Recognized on hedged items 0 0 0
Expense recognized on cash flow hedges 0 0 0
Interest Income Loans | Designated as hedge | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items 56,141 46,842 40,793
Premium/discount amortization recognized on hedged items 0 0 0
Interest Income Loans | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Total Interest Expense | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items 486,323 95,617 (45,720)
Gains/(losses) on fair value hedging relationships (3,122) (2,715) (2,388)
Total Interest Expense | Cash flow hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Premium/discount amortization recognized on hedged items (57) (37) (13)
Interest settlements reclassified from AOCI into net income on derivatives 1,213 (7,399) (5,570)
Recognized on hedged items (12,847) (2,657) (4,553)
Expense recognized on cash flow hedges (11,691) (10,093) (10,136)
Total Interest Expense | Designated as hedge | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items (132,406) (51,484) (51,230)
Premium/discount amortization recognized on hedged items (2,116) (1,118) (745)
Total Interest Expense | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Gains on financial derivatives | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items 0 0 0
Gains/(losses) on fair value hedging relationships 0 0 0
Gains on financial derivatives | Cash flow hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Premium/discount amortization recognized on hedged items 0 0 0
Interest settlements reclassified from AOCI into net income on derivatives 0 0 0
Recognized on hedged items 0 0 0
Expense recognized on cash flow hedges 0 0 0
Gains on financial derivatives | Designated as hedge | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on hedged items 0 0 0
Premium/discount amortization recognized on hedged items 0 0 0
Gains on financial derivatives | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 22,631 324 1,744
Interest Rate Swap | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on derivatives (79,201) (70,880) (52,805)
Income/(expense) related to interest settlements on fair value hedging relationships 672 45,048 62,183
Recognized on derivatives 519,923 179,067 (234,254)
Interest Rate Swap | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 13,012 (2,144) (2,214)
Noninterest Income (7,619) 3,259 5,808
Interest Rate Swap | Interest Income Investments and Cash Equivalents | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on derivatives 2,727 (1,002) (60,056)
Income/(expense) related to interest settlements on fair value hedging relationships 18,172 790  
Recognized on derivatives 104,722 1,688 (201,021)
Interest Rate Swap | Interest Income Investments and Cash Equivalents | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Noninterest Income 0 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 (19,486) (85,302)  
Income/(expense) related to interest settlements on fair value hedging relationships 123,323 34,594 66,114
Recognized on derivatives 553,530 178,252  
Interest Rate Swap | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0  
Noninterest Income 0 0  
Interest Rate Swap | Interest Income Loans | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on derivatives (501) (27,167) (19,135)
Income/(expense) related to interest settlements on fair value hedging relationships 55,640 19,675 21,658
Recognized on derivatives 351,116 97,459 (76,565)
Interest Rate Swap | Interest Income Loans | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Noninterest Income 0 0 0
Interest Rate Swap | Total Interest Expense | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on derivatives (61,941) 42,591 26,386
Income/(expense) related to interest settlements on fair value hedging relationships (196,463) (10,011) (25,589)
Recognized on derivatives (489,445) (98,332) 43,332
Interest Rate Swap | Total Interest Expense | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Noninterest Income 0 0 0
Interest Rate Swap | Gains on financial derivatives | Fair value hedges:      
Derivative Instruments, Gain (Loss) [Line Items]      
Recognized on derivatives 0 0 0
Income/(expense) related to interest settlements on fair value hedging relationships 0 0 0
Recognized on derivatives 0 0 0
Interest Rate Swap | Gains on financial derivatives | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 13,012 (2,144) (2,214)
Noninterest Income (7,619) 3,259 5,808
Treasury futures | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 17,238 (791) (1,850)
Treasury futures | Interest Income Investments and Cash Equivalents | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Treasury futures | Interest Income Farmer Mac Guaranteed Securities and USDA Securities | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0  
Treasury futures | Interest Income Loans | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Treasury futures | Total Interest Expense | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives 0 0 0
Treasury futures | Gains on financial derivatives | No hedge designation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gains on financial derivatives $ 17,238 $ (791) $ (1,850)