National Rural Utilities Cooper (NRUC) 10-Q 14 Apr 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Feb. 28, 2014
Document Information [Line Items]	'
Entity Registrant Name	'NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/
Entity Central Index Key	'0000070502
Current Fiscal Year End Date	'--05-31
Entity Filer Category	'Non-accelerated Filer
Trading Symbol	'NRU
Entity Common Stock, Shares Outstanding	0
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	28-Feb-14
Document Fiscal Period Focus	'Q3
Document Fiscal Year Focus	'2014

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$842,915	$177,062
Restricted cash	7,256	7,696
Investments	28,702	31,632
Time deposits	700,000	700,000
Loans to members	20,645,064	20,305,874
Less: Allowance for loan losses	-56,040	-54,325
Loans to members, net	20,589,024	20,251,549
Accrued interest and other receivables	207,894	175,183
Fixed assets, net	106,267	104,508
Debt service reserve funds	39,353	39,803
Debt issuance costs, net	43,325	38,949
Foreclosed assets, net	255,150	261,472
Derivative assets	261,598	257,878
Other assets	25,845	25,919
Total assets	23,107,329	22,071,651
LIABILITIES AND EQUITY	'	'
Short-term debt	6,541,987	7,719,483
Accrued interest payable	203,085	144,945
Long-term debt	12,902,920	10,696,433
Deferred income	79,670	25,717
Derivative liabilities	380,518	475,278
Other liabilities	121,894	69,308
Commitments and contingencies	'	'
Total liabilities	22,117,039	21,260,390
CFC equity:	'	'
Retained equity	958,620	791,090
Accumulated other comprehensive income	4,723	8,381
Total CFC equity	963,343	799,471
Noncontrolling interest	26,947	11,790
Total equity	990,290	811,261
Total liabilities and equity	23,107,329	22,071,651
Subordinated deferrable debt	'	'
LIABILITIES AND EQUITY	'	'
Subordinated debt	400,000	400,000
Membership subordinated certificates	'	'
LIABILITIES AND EQUITY	'	'
Subordinated debt	644,757	644,757
Loan and guarantee subordinated certificates	'	'
LIABILITIES AND EQUITY	'	'
Subordinated debt	668,918	696,719
Member capital securities	'	'
LIABILITIES AND EQUITY	'	'
Subordinated debt	173,290	387,750
Total members' subordinated certificates	'	'
LIABILITIES AND EQUITY	'	'
Subordinated debt	$1,486,965	$1,729,226

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Interest income	$238,732	$234,021	$719,057	$715,736
Interest expense	-163,534	-171,899	-496,464	-522,796
Net interest income	75,198	62,122	222,593	192,940
(Provision for) recovery of loan losses	-787	378	-3,161	-4,927
Net interest income after (provision for) recovery of loan losses	74,411	62,500	219,432	188,013
Non-interest income:	'	'	'	'
Fee and other income	5,702	6,337	14,983	29,102
Derivative (losses) gains, net	-31,623	46,626	43,981	18,268
Results of operations of foreclosed assets	-1,164	6,478	-8,482	804
Total non-interest income	-27,085	59,441	50,482	48,174
Non-interest expense:	'	'	'	'
Salaries and employee benefits	-8,013	-23,627	-27,359	-44,180
Other general and administrative expenses	-9,170	-6,652	-27,012	-22,720
(Provision for) recovery of guarantee liability	-117	46	-159	147
Losses on early extinguishment of debt	-1,452	0	-1,452	0
Other	210	-554	-88	-5,101
Total non-interest expense	-18,542	-30,787	-56,070	-71,854
Income prior to income taxes	28,784	91,154	213,844	164,333
Income tax expense	-243	-1,067	-2,045	-1,519
Net income	28,541	90,087	211,799	162,814
Less: Net income attributable to noncontrolling interest	-239	-1,664	-3,024	-2,368
Net income attributable to CFC	$28,302	$88,423	$208,775	$160,446

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Net income	$28,541	$90,087	$211,799	$162,814
Other comprehensive income (loss):	'	'	'	'
Add: Unrealized gains (losses) on available-for-sale securities	2,313	-479	-2,931	408
Less: Net derivative gains reclassified into earnings	-245	-251	-740	-756
Other comprehensive income (loss)	2,068	-730	-3,671	-348
Total comprehensive income	30,609	89,357	208,128	162,466
Less: Total comprehensive income attributable to noncontrolling interest	-235	-1,659	-3,011	-2,352
Total comprehensive income attributable to CFC	$30,374	$87,698	$205,117	$160,114

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $)	Total	Noncontrolling interest	Total CFC equity	Accumulated other comprehensive income	CFC retained equity	Unallocated net income (loss)	Members' capital reserve	Patronage capital allocated	Membership fees and education fund
In Thousands
Balance at May. 31, 2012	$490,755	$7,592	$483,163	$9,199	$473,964	($346,941)	$272,126	$546,366	$2,413
Patronage capital retirement	-35,646	0	-35,646	0	-35,646	429	0	-36,075	0
Net income	162,814	2,368	160,446	0	160,446	160,446	0	0	0
Other comprehensive (loss)	-348	-16	-332	-332	0	0	0	0	0
Other	-540	-1	-539	0	-539	0	0	0	-539
Balance at Feb. 28, 2013	617,035	9,943	607,092	8,867	598,225	-186,066	272,126	510,291	1,874
Balance at May. 31, 2013	811,261	11,790	799,471	8,381	791,090	-213,255	410,259	591,581	2,505
Patronage capital retirement	-40,724	0	-40,724	0	-40,724	0	0	-40,724	0
Net income	211,799	3,024	208,775	0	208,775	208,775	0	0	0
Other comprehensive (loss)	-3,671	-13	-3,658	-3,658	0	0	0	0	0
Other	11,625	12,146	-521	0	-521	0	0	0	-521
Balance at Feb. 28, 2014	$990,290	$26,947	$963,343	$4,723	$958,620	($4,480)	$410,259	$550,857	$1,984

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income	$211,799	$162,814
Adjustments to reconcile net income to net cash provided by operating activities	'	'
Amortization of deferred income	-7,156	-6,879
Amortization of debt issuance costs and deferred charges	5,393	5,733
Amortization of discount on long-term debt	4,046	2,953
Amortization of issuance costs on revolving bank lines of credit	2,098	2,159
Depreciation	4,254	3,984
Provision for loan losses	3,161	4,927
Provision for (recovery of) guarantee liability	159	-147
Results of operations of foreclosed assets	8,482	-804
Derivative forward value	-98,925	-62,194
Net changes in operating assets and liabilities:	'	'
Accrued interest and other receivables	-37,792	27,948
Accounts payable	67,489	17,635
Accrued interest payable	58,140	50,688
Deferred income	61,109	666
Other	-1,116	-5,183
Net cash provided by operating activities	281,141	204,300
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Advances made on loans	-6,165,888	-6,021,056
Principal collected on loans	5,825,426	5,455,065
Net investment in fixed assets	-6,004	-4,648
Proceeds from foreclosed assets	0	46,284
Investments in foreclosed assets	-2,160	-79,372
Investments in time deposits	0	-450,000
Proceeds from early redemption of investments	0	57,578
Investments in equity securities	0	-30,000
Change in restricted cash	440	475
Net cash used in investing activities	-348,186	-1,025,674
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from issuances of short-term debt, net	762,205	686,383
Proceeds from issuances of short term debt with original maturity greater than 90 days	593,401	370,949
Repayments of short term debt with original maturity greater than 90 days	-620,404	-394,366
Proceeds from issuance of long-term debt	-2,368,220	-1,062,956
Payments for redemption of long-term debt	56,386	57,166
Proceeds from issuance of members' subordinated certificates	-99,507	-15,358
Payments for retirement of members' subordinated certificates	-40,030	-34,872
Cash paid portion of debt exchange premium	0	-133,406
Net cash provided by financing activities	732,898	1,419,434
NET INCREASE IN CASH AND CASH EQUIVALENTS	665,853	598,060
BEGINNING CASH AND CASH EQUIVALENTS	177,062	191,167
ENDING CASH AND CASH EQUIVALENTS	842,915	789,227
Cash paid for:	'	'
Interest	426,755	461,263
Income taxes	157	97
Non-cash financing and investing activities:	'	'
Net decrease in debt service reserve funds/debt service reserve certificates	-450	0
Collateral trust bonds issued as debt exchange premium	0	39,647
Revolving bank lines of credit	'	'
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Issuance costs for revolving bank lines of credit	0	-50
Subordinated deferrable debt	'	'
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Issuance costs for revolving bank lines of credit	$2,449,067	$1,945,944

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Feb. 28, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
		-1	Summary of Significant Accounting Policies
		(a)	Basis of Presentation
	The accompanying financial statements include the consolidated accounts of National Rural Utilities Cooperative Finance Corporation (“CFC”), Rural Telephone Finance Cooperative (“RTFC”), National Cooperative Services Corporation (“NCSC”) and certain entities created and controlled by CFC to hold foreclosed assets and accommodate loan securitization transactions, after elimination of intercompany accounts and transactions.
	Unless stated otherwise, references to “we,” “our” or “us” represent the consolidation of CFC, RTFC, NCSC and certain entities created and controlled by CFC to hold foreclosed assets and accommodate loan securitization transactions. Foreclosed assets are held by two subsidiaries controlled by CFC. Denton Realty Partners, LP (“DRP”) holds a land development loan and a related limited partnership interest. Caribbean Asset Holdings (“CAH”) holds our investment in cable and telecommunications operating entities in the United States Virgin Islands (“USVI”), British Virgin Islands and St. Maarten.
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the assets, liabilities, revenue and expenses reported in the financial statements, as well as amounts included in the notes thereto, including discussion and disclosure of contingent liabilities. The accounting estimates that require our most significant and subjective judgments include the allowance for loan losses and the determination of the fair value of our derivatives and certain aspects of our foreclosed assets. While we use our best estimates and judgments based on the known facts at the date of the financial statements, actual results could differ from these estimates as future events occur.
	During the preparation of our consolidated balance sheets for the quarter ended February 28, 2014, we determined that an intercompany elimination entry related to the consolidation of RTFC had been misclassified in each period since May 31, 2009, resulting in an overstatement of other liabilities and an understatement of noncontrolling interest at the end of each reported period. We corrected the misclassification in the quarter ended February 28, 2014, which resulted in a decrease of $11.5 million in other liabilities and a corresponding increase in noncontrolling interest. We concluded that the correction of the misclassification was not material to our financial position in the current period, and the misclassification was not material to our financial position in the previously reported periods. Accordingly, we did not revise prior period balance sheet amounts. The misclassification had no impact on our, consolidated statements of operations and comprehensive income, total assets, total liabilities and equity, or cash flows for any of our previously filed annual or quarterly financial statements, and did not impact the compliance with any of our financial debt covenants for any period.
	These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2013. Reclassifications of prior period amounts have been made to conform to the current period presentation.
	In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments (which consist only of normal recurring accruals) necessary for a fair presentation of our results of operations and financial position for the interim periods presented.
		(b)	Variable Interest Entities
	We are required to consolidate the financial results of RTFC and NCSC because CFC is the primary beneficiary of variable interests in RTFC and NCSC due to its exposure to absorbing the majority of their expected losses and because CFC manages the lending activities of RTFC and NCSC.
	Under separate guarantee agreements, RTFC and NCSC pay CFC a fee to indemnify against loan losses. CFC is the sole lender to and manages the business operations of RTFC through a management agreement in effect until December 1, 2016, which is automatically renewed for one-year terms thereafter unless terminated by either party. CFC is the primary source of funding to and manages the lending activities of NCSC through a management agreement that is automatically renewable on an annual basis unless terminated by either party. NCSC funds its lending programs through loans from CFC or debt guaranteed by CFC. In connection with these guarantees, NCSC must pay a guarantee fee and purchase from CFC interest-bearing subordinated term certificates in proportion to the related guarantee.
	RTFC and NCSC creditors have no recourse against CFC in the event of a default by RTFC and NCSC, unless there is a guarantee agreement under which CFC has guaranteed NCSC or RTFC debt obligations to a third party. At February 28, 2014, CFC had guaranteed $121 million of NCSC debt, derivative instruments and guarantees with third parties, and CFC’s maximum potential exposure for these instruments totaled $128 million. The maturities for NCSC obligations guaranteed by CFC extend through 2031. Guarantees of NCSC debt and derivative instruments are not included in Note 10, Guarantees, as the debt and derivatives are reported on the condensed consolidated balance sheet. At February 28, 2014, CFC guaranteed $2 million of RTFC guarantees with third parties. The maturities for RTFC obligations guaranteed by CFC extend through 2015 and are renewed on an annual basis. All CFC loans to RTFC and NCSC are secured by all assets and revenue of RTFC and NCSC, respectively. At February 28, 2014, RTFC had total assets of $577 million including loans outstanding to members of $455 million, and NCSC had total assets of $804 million including loans outstanding of $779 million. At February 28, 2014, CFC had committed to lend RTFC up to $4,000 million, of which $441 million was outstanding. At February 28, 2014, CFC had committed to provide up to $3,000 million of credit to NCSC, of which $884 million was outstanding, representing $763 million of outstanding loans and $121 million of credit enhancements.
		(c)	Loan Sales
	We account for the transfer of loans resulting from direct loan sales to third parties and securitization transactions by removing the loans from our condensed consolidated balance sheets when control has been surrendered. We retain the servicing performance obligations on these loans and recognize related servicing fees on an accrual basis over the period for which servicing activity is provided. Deferred transaction costs and unamortized deferred loan origination costs related to the loans sold are included in determining the gain or loss on the sale. We do not hold any continuing interest in the loans sold to date other than servicing performance obligations. We have no obligation to repurchase loans from the purchaser, except in the case of breaches of representations and warranties.
	During the nine months ended February 28, 2014 and 2013, we sold CFC loans with outstanding balances totaling $106 million and $121 million, respectively, at par for cash. We recorded immaterial losses on the sale of these loans.
		(d)	Interest Income
	Interest income on loans is recognized using the effective interest method. The following table presents the components of interest income:
			Three Months Ended				Nine Months Ended
			February 28,				February 28,
	(Dollars in thousands)		2014		2013		2014		2013
	Interest on long-term fixed-rate loans		$	220,227	$	216,716	$	666,762	$	652,903
	Interest on long-term variable-rate loans			5,217		5,203		14,871		16,121
	Interest on line of credit loans			8,302		7,961		23,379		23,066
	Interest on restructured loans			-		436		136		13,523
	Interest on investments			1,932		1,864		5,685		4,378
	Fee income (1)			3,054		1,841		8,224		5,745
	Total interest income		$	238,732	$	234,021	$	719,057	$	715,736
	(1) Primarily related to conversion fees that are deferred and recognized using the effective interest method over the remaining original loan interest rate pricing term, except for a small portion of the total fee charged to cover administrative costs related to the conversion, which is recognized immediately.
	Deferred income recorded on the condensed consolidated balance sheets primarily consists of deferred conversion fees totaling $74 million and $21 million at February 28, 2014 and May 31, 2013, respectively.
		(e)	Interest Expense
	The following table presents the components of interest expense:
			Three Months Ended				Nine Months Ended
			February 28,				February 28,
	(Dollars in thousands)		2014		2013		2014		2013
	Interest expense on debt (1):
	Short-term debt		$	1,406	$	1,717	$	4,445	$	5,033
	Medium-term notes			20,369		21,294		62,920		74,010
	Collateral trust bonds			76,090		84,197		227,746		247,907
	Subordinated deferrable debt			4,750		2,806		14,250		8,419
	Subordinated certificates			19,777		20,345		60,897		61,227
	Long-term notes payable			37,130		37,622		113,828		113,933
	Debt issuance costs (2)			1,806		1,891		5,453		5,733
	Fee expense (3)			2,206		2,027		6,925		6,534
	Total interest expense		$	163,534	$	171,899	$	496,464	$	522,796
	(1) Represents interest expense and the amortization of discounts on debt.
	(2) Includes amortization of all deferred charges related to the issuance of debt, principally underwriters’ fees, legal fees, printing costs and comfort letter fees. Amortization is calculated using the effective interest method or a method approximating the effective interest method. Also includes issuance costs related to dealer commercial paper, which are recognized as incurred.
	(3) Includes various fees related to funding activities, including fees paid to banks participating in our revolving credit agreements.
	We exclude indirect costs, if any, related to funding activities from interest expense.
		(f)	Derivative Financial Instruments
	We are an end user of financial derivative instruments and not a swap dealer. We use derivatives such as interest rate swaps and treasury rate locks to mitigate interest rate risk. Consistent with the accounting standards for derivative financial instruments, we record derivative instruments (including certain derivative instruments embedded in other contracts) on the condensed consolidated balance sheets as either an asset or liability measured at fair value. In recording the fair value of derivative assets and liabilities, we do not net our positions under contracts with individual counterparties. Accrued cash settlements on our derivatives are recorded as accrued interest and other receivables and accrued interest payable line items of the condensed consolidated balance sheet. Changes in the fair value of derivative instruments along with realized gains and losses from cash settlements are recognized in the derivative gains (losses) line item of the condensed consolidated statement of operations unless specific hedge accounting criteria are met.
	We formally document, designate and assess the effectiveness of derivatives designated for hedge accounting treatment, which typically include treasury rate locks. If applicable cash flow hedge accounting criteria are met for these derivatives, changes in the fair value of the derivative instruments are recorded in other comprehensive income, and net cash settlements are recorded in interest expense. The gain or loss on derivatives used as a cash flow hedge of a forecasted debt transaction is recorded as a component of other comprehensive income (loss) and reclassified to  interest expense using the effective interest method over the term of the hedged debt. Any ineffectiveness in the hedging relationship is recognized in the derivative gains (losses) line of the statement of operations.
	Cash activity associated with interest rate swaps is classified as an operating activity in the condensed consolidated statements of cash flows.
		(g)	New Accounting Pronouncements
	In December 2011, the Financial Accounting Standards Board issued Accounting Standards Update, Disclosures about Offsetting Assets and Liabilities, which requires enhanced disclosures about certain financial assets and liabilities that are subject to enforceable master netting agreements or similar agreements, or that have otherwise been offset on the balance sheet under certain specific conditions that permit net presentation. In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies that the scope of the above guidance is limited to derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions. The guidance was effective for us beginning in the first quarter of fiscal year 2014. See Note 8, Derivative Financial Instruments, for additional disclosures about offsetting assets and liabilities.
	In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income, which requires enhanced disclosures of the amounts reclassified out of Accumulated Other Comprehensive Income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of Accumulated Other Comprehensive Income by the respective line items of net income, but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. The guidance was effective for us beginning in the first quarter of fiscal year 2014 and did not have a material effect on the condensed consolidated financial statements, as the amounts reclassified out of other comprehensive income are immaterial for all periods presented.

Investment_Securities

Investment Securities	9 Months Ended
	Feb. 28, 2014
Investments	'
Investments	'
		-2	Investment Securities
	Our investment securities consist of Federal Agricultural Mortgage Corporation Series A preferred stock with a cost basis of $30 million and fair value of $27 million and $29 million at February 28, 2014 and May 31, 2013, respectively, and an unrealized loss of $3 million and $1 million, respectively, recorded in accumulated other comprehensive income on the condensed consolidated balance sheet. The investment has been in a continuous unrealized loss position for less than twelve months, primarily due to the increase in interest rates. We do not intend to sell this investment in the foreseeable future and we currently expect to fully recover our cost. Our investment in this Series A preferred stock is classified as available-for-sale and therefore recorded in the condensed consolidated balance sheets at fair value.
	Our investments also include Federal Agricultural Mortgage Corporation Class A common stock with a cost basis of $0.5 million and a fair value of $2.1 million and $2.2 million at February 28, 2014 and May 31, 2013, respectively, and an unrealized gain of $1.6 million and $1.7 million, respectively, recorded in accumulated other comprehensive income on the condensed consolidated balance sheet. Our investment in this Class A common stock is classified as available-for-sale and therefore recorded in the condensed consolidated balance sheets at fair value.

Loans_and_Commitments

Loans and Commitments	9 Months Ended
	Feb. 28, 2014
Loans and Commitments	'
Loans and Commitments	'
		-3	Loans and Commitments
	Loans outstanding to members and unadvanced commitments by loan type and by member class are summarized as follows:
			February 28, 2014						May 31, 2013
	(Dollars in thousands)		Loans			Unadvanced			Loans			Unadvanced
			Outstanding			Commitments (1)			Outstanding			Commitments (1)
	Total by loan type (2):
	Long-term fixed-rate loans		$	18,185,111		$	-		$	17,918,268		$	-
	Long-term variable-rate loans			770,883			4,547,813			782,006			4,718,162
	Loans guaranteed by RUS			203,173			-			210,815			-
	Line of credit loans			1,476,166			8,996,845			1,385,228			8,704,586
	Total loans outstanding			20,635,333			13,544,658			20,296,317			13,422,748
	Deferred origination costs			9,731			-			9,557			-
	Less: Allowance for loan losses			-56,040			-			-54,325			-
	Net loans outstanding		$	20,589,024		$	13,544,658		$	20,251,549		$	13,422,748
	Total by member class (2):
	CFC:
	Distribution		$	15,186,620		$	9,115,128		$	14,941,192		$	8,948,826
	Power supply			4,149,104			3,024,666			4,007,669			3,145,518
	Statewide and associate			64,822			128,440			70,956			102,087
	CFC total			19,400,546			12,268,234			19,019,817			12,196,431
	RTFC			455,492			312,466			503,359			317,344
	NCSC			779,295			963,958			773,141			908,973
	Total loans outstanding		$	20,635,333		$	13,544,658		$	20,296,317		$	13,422,748
	(1) The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.
	(2) Includes nonperforming and restructured loans.
	Nonperforming and restructured loans outstanding and unadvanced commitments to members included in the table above are summarized by loan type and by company below:
			February 28, 2014						May 31, 2013
			Loans			Unadvanced			Loans			Unadvanced
	(Dollars in thousands)		Outstanding			Commitments (1)			Outstanding			Commitments (1)
	Nonperforming and restructured loans:
	Nonperforming loans:
	CFC:
	Line of credit loans		$	5,000		$	-		$	5,000		$	-
	NCSC:
	Line of credit loans			450			-			-			-
	RTFC:
	Long-term fixed-rate loans			2,786			-			3,690			-
	Long-term variable-rate loans			2,609			-			6,807			-
	Total nonperforming loans		$	10,845		$	-		$	15,497		$	-
	Restructured loans:
	CFC:
	Long-term fixed-rate loans		$	7,584		$	-		$	46,953		$	-
	Line of credit loans (2)			-			-			-			5,000
	Total restructured loans		$	7,584		$	-		$	46,953		$	5,000
	(1) The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.
	(2) The unadvanced commitment is part of the terms outlined in the related restructure agreement. Loans advanced under these commitments would be classified as performing. Principal and interest due under these performing loans would be in addition to scheduled payments due under the restructured loan agreement.
	Unadvanced Loan Commitments
	A total of $2,249 million and $1,703 million of unadvanced commitments at February 28, 2014 and May 31, 2013, respectively, represented unadvanced commitments related to committed lines of credit loans that are not subject to a material adverse change clause at the time of each loan advance. As such, we will be required to advance amounts on these committed facilities as long as the borrower is in compliance with the terms and conditions of the facility.
	The following table summarizes the available balance at February 28, 2014 under committed lines of credit that are not subject to a material adverse change clause and the related maturities by fiscal year and thereafter as follows:
			Available			Notional Maturities of Committed Lines of Credit
	(Dollars in thousands)		Balance			2014			2015			2016		2017			2018			Thereafter
	Committed lines of credit		$	2,248,762		$	19,048		$	55,026		$	61,000	$	466,061		$	861,098		$	786,529
	The remaining unadvanced commitments totaling $11,296 million and $11,720 million at February 28, 2014 and May 31, 2013, respectively, were generally subject to material adverse change clauses. Prior to making an advance on these facilities, we confirm that there has been no material adverse change in the business or condition, financial or otherwise, of the borrower since the time the loan was approved and confirm that the borrower is currently in compliance with loan terms and conditions. In some cases, the borrower’s access to the full amount of the facility is further constrained by the imposition of borrower-specific restrictions, or by additional conditions that must be met prior to advancing funds.
	Unadvanced commitments related to line of credit loans are typically for periods not to exceed five years and are generally revolving facilities used for working capital and backup liquidity purposes. Historically, we have experienced a very low utilization rate on line of credit loan facilities, whether or not there is a material adverse change clause. Since we generally do not charge a fee on the unadvanced portion of the majority of our loan facilities, our borrowers will typically request long-term facilities to cover maintenance and capital expenditure work plans for periods of up to five years and draw down on the facility over that time. In addition, borrowers will typically request an amount in excess of their immediate estimated loan requirements to avoid the expense related to seeking additional loan funding for unexpected items.
	The above items all contribute to our expectation that the majority of the unadvanced commitments will expire without being fully drawn upon and that the total unadvanced amount does not necessarily represent future cash funding requirements.
	Payment Status of Loans
	The tables below present the payment status, including an aging of delinquent loans, of the recorded investment in loans outstanding by member class at February 28, 2014 and May 31, 2013:
			February 28, 2014
	(Dollars in thousands)		Current				30-89 Days				90 Days or			Total				Total				Non-accrual
							Past Due				More			Past Due				Financing				Loans
											Past Due (1)							Receivables
	CFC:
	Distribution		$	15,186,620			$	-			$	-		$	-			$	15,186,620			$	7,584
Power supply			4,144,104				-				5,000			5,000				4,149,104				5,000
Statewide and associate			64,822				-				-			-				64,822				-
CFC total			19,395,546				-				5,000			5,000				19,400,546				12,584
RTFC			451,913				-				3,579			3,579				455,492				5,395
NCSC			779,295				-				-			-				779,295				450
Total loans outstanding		$	20,626,754			$	-			$	8,579		$	8,579			$	20,635,333			$	18,429
As a % of total loans			99.96	%			0	%			0.04	%		0.04	%			100	%			0.09	%
(1) All loans 90 days or more past due are on non-accrual status.
		May 31, 2013
(Dollars in thousands)		Current				30-89 Days				90 Days or			Total				Total				Non-accrual
						Past Due				More			Past Due				Financing				Loans
										Past Due (1)							Receivables
CFC:
Distribution		$	14,938,351			$	2,841			$	-		$	2,841			$	14,941,192			$	7,584
Power supply			4,002,669				-				5,000			5,000				4,007,669				5,000
Statewide and associate			70,956				-				-			-				70,956				-
CFC total			19,011,976				2,841				5,000			7,841				19,019,817				12,584
RTFC			495,040				4,163				4,156			8,319				503,359				10,497
NCSC			773,141				-				-			-				773,141				-
Total loans outstanding		$	20,280,157			$	7,004			$	9,156		$	16,160			$	20,296,317			$	23,081
As a % of total loans			99.92	%			0.03	%			0.05	%		0.08	%			100	%			0.11	%
(1) All loans 90 days or more past due are on non-accrual status.
Credit Quality
We monitor the credit quality and performance statistics of our financing receivables in an ongoing manner to provide a balance between the credit needs of our members and the requirements for sound credit quality of the loan portfolio. We evaluate the credit quality of our loans using an internal risk rating system that employs similar criteria for all member classes.
Our internal risk rating system is based on a determination of a borrower’s risk of default utilizing both quantitative and qualitative measurements.
We have grouped our risk ratings into the categories of pass and criticized based on the criteria below.
(i) Pass: Borrowers that are not experiencing difficulty and/or not showing a potential or well-defined credit weakness.
(ii) Criticized: Includes borrowers categorized as special mention, substandard and doubtful as described below:
	·	Special mention: Borrowers that may be characterized by a potential credit weakness or deteriorating financial condition that is not sufficiently serious to warrant a classification of substandard or doubtful.
	·	Substandard: Borrowers that display a well-defined credit weakness that may jeopardize the full collection of principal and interest.
	·	Doubtful: Borrowers that have a well-defined weakness and the full collection of principal and interest is questionable or improbable.
Borrowers included in the pass, special mention, and substandard categories are reflected in the general portfolio of loans. Borrowers included in the doubtful category are reflected in the impaired portfolio of loans. Each risk rating is reassessed annually based on the receipt of the borrower’s audited financial statements; however, interim downgrades and upgrades may take place at any time as significant events or trends occur.
The following table presents our loan portfolio by risk rating category and member class at February 28, 2014 and May 31, 2013:
		February 28, 2014									31-May-13
(Dollars in thousands)		Pass			Criticized			Total			Pass		Criticized			Total
CFC:
Distribution		$	15,168,785		$	17,835		$	15,186,620		$	14,922,558	$	18,634		$	14,941,192
Power supply			4,144,104			5,000			4,149,104			4,002,669		5,000			4,007,669
Statewide and associate			64,542			280			64,822			70,668		288			70,956
CFC total			19,377,431			23,115			19,400,546			18,995,895		23,922			19,019,817
RTFC			441,757			13,735			455,492			483,058		20,301			503,359
NCSC			776,981			2,314			779,295			770,419		2,722			773,141
Total loans outstanding		$	20,596,169		$	39,164		$	20,635,333		$	20,249,372	$	46,945		$	20,296,317
Loan Security
Except when providing line of credit loans, we typically lend to our members on a senior secured basis. Long-term loans are typically secured on a parity with other secured lenders (primarily RUS), if any, by all assets and revenue of the borrower with exceptions typical in utility mortgages. Line of credit loans are generally unsecured. In addition to the lien and security interest we receive under the mortgage, our member borrowers are also required to achieve certain financial ratios as required by loan covenants.
The following table summarizes our secured and unsecured loans outstanding by loan type and by company:
		February 28, 2014											May 31, 2013
(Dollars in thousands)		Secured			%			Unsecured			%		Secured			%			Unsecured			%
Total by loan type:
Long-term fixed-rate loans		$	17,128,504		94	%		$	1,056,607		6	%	$	16,871,594		94	%		$	1,046,674		6	%
Long-term variable-rate loans			679,446		88				91,437		12			676,075		86				105,931		14
Loans guaranteed by RUS			203,173		100				-		-			210,815		100				-		-
Line of credit loans			307,820		21				1,168,346		79			294,575		21				1,090,653		79
Total loans outstanding		$	18,318,943		89			$	2,316,390		11		$	18,053,059		89			$	2,243,258		11
Total by company:
CFC		$	17,323,741		89	%		$	2,076,805		11	%	$	17,049,029		90	%		$	1,970,788		10	%
RTFC			436,001		96				19,491		4			482,647		96				20,712		4
NCSC			559,201		72				220,094		28			521,383		67				251,758		33
Total loans outstanding		$	18,318,943		89			$	2,316,390		11		$	18,053,059		89			$	2,243,258		11
Loan Loss Allowance
We maintain an allowance for loan losses at a level estimated by management to provide for probable losses inherent in the loan portfolio. The tables below summarize the changes in the allowance for loan losses by company for the three and nine months ended February 28, 2014.
		Three Months Ended February 28, 2014
(Dollars in thousands)		CFC			RTFC			NCSC			Total
Balance as of November 30, 2013		$	42,762		$	7,859		$	4,578		$	55,199
Provision for (recovery of) loan losses			1,543			-2,450			1,694			787
Charge-offs			-			-			-			-
Recoveries of loans previously charged-off			54			-			-			54
Balance as of February 28, 2014		$	44,359		$	5,409		$	6,272		$	56,040
		Three Months Ended February 28, 2013
(Dollars in thousands)		CFC			RTFC			NCSC			Total
Balance as of November 30, 2012		$	133,578		$	8,314		$	6,845		$	148,737
Provision for (recovery of) loan losses			432			-214			-596			-378
Recoveries of loans previously charged-off			52			-			-			52
Balance as of February 28, 2013		$	134,062		$	8,100		$	6,249		$	148,411
		Nine Months Ended February 28, 2014
(Dollars in thousands)		CFC			RTFC			NCSC			Total
Balance as of May 31, 2013		$	41,246		$	9,158		$	3,921		$	54,325
Provision for (recovery of) loan losses			2,953			-2,143			2,351			3,161
Charge-offs			-			-1,606			-			-1,606
Recoveries of loans previously charged-off			160			-			-			160
Balance as of February 28, 2014		$	44,359		$	5,409		$	6,272		$	56,040
		Nine Months Ended February 28, 2013
(Dollars in thousands)		CFC			RTFC			NCSC			Total
Balance as of May 31, 2012		$	126,941		$	8,562		$	7,823		$	143,326
Provision for (recovery of) loan losses			6,963			-462			-1,574			4,927
Recoveries of loans previously charged-off			158			-			-			158
Balance as of February 28, 2013		$	134,062		$	8,100		$	6,249		$	148,411
Our allowance for loan losses includes a specific valuation allowance related to individually-evaluated impaired loans, as well as a general reserve for other probable incurred losses for loans that are collectively evaluated. The tables below present the loan loss allowance and the recorded investment in outstanding loans by impairment methodology and by company:
		February 28, 2014
(Dollars in thousands)		CFC			RTFC			NCSC			Total
Ending balance of the allowance:
Collectively evaluated		$	44,359		$	4,950		$	6,217		$	55,526
Individually evaluated			-			459			55			514
Total ending balance of the allowance		$	44,359		$	5,409		$	6,272		$	56,040
Recorded investment in loans:
Collectively evaluated		$	19,387,962		$	450,097		$	778,845		$	20,616,904
Individually evaluated			12,584			5,395			450			18,429
Total recorded investment in loans (1)		$	19,400,546		$	455,492		$	779,295		$	20,635,333
Loans to members, net (1)		$	19,356,187		$	450,083		$	773,023		$	20,579,293
		May 31, 2013
(Dollars in thousands)		CFC			RTFC			NCSC			Total
Ending balance of the allowance:
Collectively evaluated		$	41,246		$	5,731		$	3,921		$	50,898
Individually evaluated			-			3,427			-			3,427
Total ending balance of the allowance		$	41,246		$	9,158		$	3,921		$	54,325
Recorded investment in loans:
Collectively evaluated		$	18,967,864		$	492,862		$	773,141		$	20,233,867
Individually evaluated			51,953			10,497			-			62,450
Total recorded investment in loans (1)		$	19,019,817		$	503,359		$	773,141		$	20,296,317
Loans to members, net (1)		$	18,978,571		$	494,201		$	769,220		$	20,241,992
(1) Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
Impaired Loans
Our recorded investment in individually-impaired loans and the related specific valuation allowance is summarized below by member class:
		February 28, 2014						31-May-13
(Dollars in thousands)		Recorded			Related			Recorded			Related
		Investment			Allowance			Investment			Allowance
With no specific allowance recorded:
CFC/Distribution		$	7,584		$	-		$	46,953		$	-
CFC/Power Supply			5,000			-			5,000			-
RTFC			3,580			-			-			-
Total			16,164			-			51,953			-
With a specific allowance recorded:
NCSC			450			55
RTFC			1,815			459			10,497			3,427
Total			2,265			514			10,497			3,427
Total impaired loans		$	18,429		$	514		$	62,450		$	3,427
The table below represents the average recorded investment in impaired loans and the interest income recognized by member class:
		Three Months Ended February 28,
		2014			2013			2014			2013
(Dollars in thousands)		Average Recorded Investment						Interest Income Recognized
CFC/Distribution		$	7,584		$	70,111		$	-		$	435
CFC/Power Supply			5,000			5,000			-			-
NCSC			454			-			-			-
RTFC			5,527			6,497			-			-
Total impaired loans		$	18,565		$	81,608		$	-		$	435
		Nine Months Ended February 28,
		Average Recorded Investment						Interest Income Recognized
(Dollars in thousands)		2014			2013			2014			2013
CFC/Distribution		$	11,939		$	208,632		$	136		$	13,522
CFC/Power Supply			5,000			5,000			-			-
NCSC			151			-			-			-
RTFC			7,735			6,668			-			-
Total impaired loans		$	24,825		$	220,300		$	136		$	13,522
Nonperforming and Restructured Loans
Foregone interest income as a result of holding loans on non-accrual status:
		Three Months Ended						Nine Months Ended
		February 28,						February 28,
(Dollars in thousands)		2014			2013			2014			2013
Nonperforming loans		$	120		$	355		$	440		$	1,135
Restructured loans			122			-			367			-
Total		$	242		$	355		$	807		$	1,135
At February 28, 2014 and May 31, 2013, nonperforming loans totaled $11 million or 0.05 percent, of loans outstanding and $15 million or 0.08 percent, of loans outstanding, respectively. One borrower in this group is currently in bankruptcy. The debtor and certain secured creditors have negotiated a settlement for an agreed upon plan of reorganization. Another borrower in this group received a reversal of an unfavorable ruling related to state Universal Service Fund (“USF”) payments. In March 2014, this borrower made a payment moving its loans to current payment status. There is one other borrower in this group that is currently seeking a buyer for its system, as it is not anticipated that it will have sufficient cash flow to repay its loans without the proceeds from the sale of the business. It is currently anticipated that even with the sale of the business, there will not be sufficient funds to repay the full amount owed. We have approval rights with respect to the sale of this company.
At February 28, 2014 and May 31, 2013, we had restructured loans totaling $8 million, or 0.04 percent, of loans outstanding and $47 million, or 0.23 percent, of loans outstanding, respectively, all of which were performing according to their restructured terms. No interest income was accrued on restructured loans during the three months ended February 28, 2014 compared to $0.4 million of interest income during the prior-year period. Approximately $0.1 million of interest income was accrued on restructured loans during the nine months ended February 28, 2014, compared with $14 million of interest income in the prior-year period. One of the restructured loans totaling $39 million at May 31, 2013, was refinanced without concession during the first quarter of fiscal year 2014, with the new loan classified as performing at February 28, 2014. This loan was on accrual status since the time of restructuring. At February 28, 2014, all restructured loans were on non-accrual status.
We believe our allowance for loan loss is appropriate to cover the losses inherent in our loan portfolio at February 28, 2014.
Pledging of Loans and Loans on Deposit
We are required to pledge eligible mortgage notes in an amount at least equal to the outstanding balance of our secured debt.
The following table summarizes our loans outstanding as collateral pledged to secure our collateral trust bonds, Clean Renewable Energy Bonds and notes payable to the Federal Agricultural Mortgage Corporation and the amount of the corresponding debt outstanding (see Note 5, Short-Term Debt and Credit Arrangements and Note 6, Long-Term Debt).
(Dollars in thousands)		February 28, 2014			May 31, 2013
Collateral trust bonds:
2007 indenture
Distribution system mortgage notes		$	5,454,096		$	5,674,804
RUS guaranteed loans qualifying as permitted investments			162,509			165,823
Total pledged collateral		$	5,616,605		$	5,840,627
Collateral trust bonds outstanding			5,179,372			4,679,372
1994 indenture
Distribution system mortgage notes		$	1,567,122		$	1,641,858
Collateral trust bonds outstanding			1,310,000			1,465,000
Federal Agricultural Mortgage Corporation:
Distribution and power supply system mortgage notes		$	1,784,959		$	1,795,947
Notes payable outstanding			1,523,032			1,542,474
Clean Renewable Energy Bonds Series 2009A:
Distribution and power supply system mortgage notes		$	21,932		$	23,536
Cash			7,221			7,634
Total pledged collateral		$	29,153		$	31,170
Notes payable outstanding			18,230			19,888
We are required to maintain collateral on deposit in an amount at least equal to the balance of debt outstanding to the Federal Financing Bank of the United States Treasury issued under the Guaranteed Underwriter program of the U.S. Department of Agriculture (the “Guaranteed Underwriter Program”). See Note 6, Long-Term Debt.
The following table shows the collateral on deposit and the amount of the corresponding debt outstanding:
(Dollars in thousands)		February 28, 2014			May 31, 2013
Federal Financing Bank
Distribution and power supply system mortgage notes on deposit		$	4,387,115		$	3,903,786
Notes payable outstanding			3,999,000			3,674,000

Foreclosed_Assets

Foreclosed Assets	9 Months Ended
	Feb. 28, 2014
Foreclosed Assets	'
Foreclosed Assets	'
		-4	Foreclosed Assets
	Assets received in satisfaction of loan receivables are initially recorded at fair value when received and subsequently evaluated for impairment. These assets are classified on the condensed consolidated balance sheets as foreclosed assets. At February 28, 2014, all foreclosed assets were held by DRP and CAH, which are wholly-owned subsidiaries of CFC.
	The activity for foreclosed assets is summarized below:
			Nine Months Ended February 28, 2014
	(Dollars in thousands)		CAH		DRP		Total
	Balance as of May 31, 2013		$	248,049	$	13,423	$	261,472
	Results of operations			-7,853		-629		-8,482
	Cash investments (proceeds)			7,410		-5,250		2,160
	Balance as of February 28, 2014		$	247,606	$	7,544	$	255,150
	During the nine months ended February 28, 2014, our investment in the DRP foreclosed assets decreased primarily due to net cash proceeds received of $5 million from the sale of raw land and developed lots and bonds reimbursements received.

ShortTerm_Debt_and_Credit_Arra

Short-Term Debt and Credit Arrangements	9 Months Ended
	Feb. 28, 2014
Short-Term Debt and Credit Arrangements	'
Short-Term Debt and Credit Arrangements	'
	(5)               Short-Term Debt and Credit Arrangements
	The following is a summary of short-term debt outstanding:
	(Dollars in thousands)	February 28,			May 31,
		2014			2013
	Short-term debt:
	Commercial paper sold through dealers, net of discounts (1)	$	2,611,744		$	2,009,884
	Commercial paper sold directly to members, at par (1)		916,675			812,141
	Commercial paper sold directly to non-members, at par (1)		20,160			39,298
	Select notes		496,031			358,390
	Daily liquidity fund notes sold directly to members		590,724			680,419
	Bank bid notes		150,000			150,000
	Subtotal short-term debt		4,785,334			4,050,132
	Long-term debt maturing within one year:
	Medium-term notes sold through dealers		270,282			989,607
	Medium-term notes sold to members		365,845			391,318
	Secured collateral trust bonds		854,605			1,504,949
	Loan and guarantees subordinated certificates		53,370			37,176
	Member capital securities		181,480			-
	Secured notes payable		27,174			742,402
	Unsecured notes payable		3,897			3,899
	Total long-term debt maturing within one year		1,756,653			3,669,351
	Total short-term debt	$	6,541,987		$	7,719,483
	(1) Backup liquidity is provided by our revolving credit agreements.
	Revolving Credit Agreements
	At February 28, 2014 and May 31, 2013, we had $3,445 million and $3,100 million, respectively, of commitments under revolving credit agreements. We may request letters of credit for up to $100 million under each agreement in place at February 28, 2014, which then reduces the amount available under the facility. Our bank lines of credit may be used for general corporate purposes; however, we use them primarily as backup liquidity for dealer and member commercial paper.
	The following table presents the total available and the outstanding letters of credit under our revolving credit agreements:
		Total Available					Letters of Credit Outstanding
	(Dollars in thousands)	February 28,			May 31,		February 28,		May 31,		Maturity	Facility Fee
		2014			2013		2014		2013			Per Year (1)
	Three-year agreement	$	219,000		$	219,000	$	-	$	-	21-Mar-14	15 basis points
	Three-year agreement		1,036,000			916,000		-		-	28-Oct-16	10 basis points
	Four-year agreement		1,122,500			1,007,500		-		-	28-Oct-17	10 basis points
	Five-year agreement		1,065,609			954,012		1,891		3,488	28-Oct-18	10 basis points
	Total		3,443,109		$	3,096,512	$	1,891	$	3,488
	(1) Facility fee determined by CFC’s senior unsecured credit ratings based on the pricing schedules put in place at the inception of the related agreement.
	On October 28, 2013, we amended our $1,006 million three-year, $1,088 million four-year, and $1,033 million five-year revolving credit agreements to extend the maturity dates for the three-year, four-year, and five-year revolving credit agreements by one year each to October 28, 2016, 2017 and 2018, respectively. On February 7, 2014, we exercised our option to increase the commitment level for the three-year revolving credit agreement maturing on October 28, 2016, four-year revolving credit agreement maturing on October 28, 2017, and five-year revolving credit agreement maturing on October 28, 2018 by a total of $100 million to $1,036 million, $1,122 million, and $1,068 million, respectively.
	The following represents our required and actual financial ratios under the revolving credit agreements:
			Actual
		Requirement		February 28, 2014		May 31, 2013
	Minimum average adjusted TIER over the six most recent fiscal quarters (1)	1.025		1.28		1.27
	Minimum adjusted TIER for the most recent fiscal year (1) (2)	1.05		1.29		1.29
	Maximum ratio of adjusted senior debt to total equity (1)	10		5.92		5.85
	(1) In addition to the adjustments made to the leverage ratio set forth in the Non-GAAP Financial Measures section, senior debt excludes guarantees to member systems that have certain investment-grade ratings from Moody’s Investors Service and Standard & Poor’s Corporation. The TIER and debt-to-equity calculations include the adjustments set forth in the Non-GAAP Financial Measures section and exclude the results of operations for CAH.
	(2) We must meet this requirement to retire patronage capital.
	At February 28, 2014 and May 31, 2013, we were in compliance with all covenants under our revolving credit agreements and there were no borrowings outstanding under these agreements.

LongTerm_Debt

Long-Term Debt	9 Months Ended
	Feb. 28, 2014
Debt Instruments [Abstract]	'
Long-Term Debt	'
	(6) Long-Term Debt
	The following is a summary of long-term debt outstanding:
	(Dollars in thousands)	February 28,		May 31,
		2014		2013
	Unsecured long-term debt:
	Medium-term notes sold through dealers	$	1,783,171	$	1,528,424
	Medium-term notes sold to members		119,098		182,790
	Subtotal		1,902,269		1,711,214
	Unamortized discount		-616		-627
	Total unsecured medium-term notes		1,901,653		1,710,587
	Unsecured notes payable		4,032,167		3,709,074
	Unamortized discount		-796		-920
	Total unsecured notes payable		4,031,371		3,708,154
	Total unsecured long-term debt		5,933,024		5,418,741
	Secured long-term debt:
	Collateral trust bonds		5,634,372		4,639,372
	Unamortized discount		-178,564		-181,640
	Total secured collateral trust bonds		5,455,808		4,457,732
	Secured notes payable		1,514,088		819,960
	Total secured long-term debt		6,969,896		5,277,692
	Total long-term debt	$	12,902,920	$	10,696,433
	In June 2013, we issued $400 million of 2.35 percent collateral trust bonds due 2020. In November 2013, we issued $400 million of 3.40 percent collateral trust bonds due 2023. On December 16, 2013, we redeemed $150 million of our $600 million 4.75 percent collateral trust bonds due March 1, 2014. The premium and unamortized issuance costs totaling $1.5 million were recorded during the third quarter of fiscal 2014. In January 2014, we issued $300 million of 1.10% collateral trust bonds due 2017 and $300 million of 2.15% collateral trust bonds due 2019.
	At February 28, 2014 and May 31, 2013, we had unsecured notes payable totaling $3,999 million and $3,674 million, respectively, outstanding under bond purchase agreements with the Federal Financing Bank and a bond guarantee agreement with RUS issued under the Guaranteed Underwriter program, which provides guarantees to the Federal Financing Bank. During the nine months ended February 28, 2014, we borrowed $325 million under our committed loan facilities with the Federal Financing Bank. On November 21, 2013, we closed on a $500 million commitment from RUS to guarantee a loan from the Federal Financing Bank as part of the Guaranteed Underwriter Program that is available for advance through October 15, 2016. Advances under this facility have a 20 year maturity repayment period. At February 28, 2014, we had an aggregate amount of $924 million available under committed term loan facilities from the Federal Financing Bank as part of this program. We are required to maintain collateral on deposit in an amount at least equal to the balance of debt outstanding to the Federal Financing Bank under this program.
	At February 28, 2014 and May 31, 2013, secured notes payable include $1,523 million and $1,542 million, respectively, in debt outstanding to the Federal Agricultural Mortgage Corporation under a note purchase agreement totaling $3,900 million. At February 28, 2014 and May 31, 2013, $26 million and $741 million, respectively, in debt outstanding to the Federal Agricultural Mortgage Corporation had a remaining maturity of less than one year and was classified as short-term debt and $1,497 and $801 million, respectively, was classified as long-term debt. Under the terms of the note purchase agreement, we can borrow up to $3,900 million at any time from the date of the agreement through January 11, 2016, and thereafter automatically extend the agreement on each anniversary date of the closing for an additional year, unless prior to any such anniversary date, the Federal Agricultural Mortgage Corporation provides CFC with a notice that the draw period will not be extended beyond the remaining term.
	The agreement with the Federal Agricultural Mortgage Corporation is a revolving credit facility that allows us to borrow, repay and re-borrow funds at any time through maturity or from time to time as market conditions permit, provided that the principal amount at any time outstanding under the note purchase agreement is not more than the total available under the agreement. We are required to pledge eligible distribution system or power supply system loans as collateral in an amount at least equal to the total principal amount of notes outstanding under the agreement. See Note 3, Loans and Commitments, for additional information on the collateral pledged to secure notes payable under these programs.

Subordinated_Deferrable_Debt

Subordinated Deferrable Debt	9 Months Ended
	Feb. 28, 2014
Subordinated Deferrable Debt	'
Subordinated Deferrable Debt	'
	-7	Subordinated Deferrable Debt
	At February 28, 2014 and May 31, 2013, we had $400 million of 4.75 percent subordinated deferrable debt outstanding due 2043. Subordinated deferrable debt currently outstanding is callable at par on or after April 30, 2023.

Derivative_Financial_Instrumen

Derivative Financial Instruments	9 Months Ended
	Feb. 28, 2014
Derivative Financial Instruments	'
Derivative Financial Instruments	'
	-8	Derivative Financial Instruments
	We are an end user of financial derivative instruments and not a swap dealer. We utilize derivatives such as interest rate swaps and treasury rate locks to manage our interest rate risk exposure.
	The following table shows the notional amounts outstanding and the weighted-average rate paid and received for our interest rate swaps by type:
			February 28, 2014									May 31, 2013
	(Dollars in thousands)		Notional		Weighted-			Weighted-				Notional			Weighted-		Weighted-
			Amount		Average			Average				amount			Average		Average
					Rate Paid			Rate Received							Rate Paid		Rate Received
	Pay fixed-receive variable		$	5,172,809		3.36	%		0.22	%		$	5,287,889		3.39	%	0.26	%
	Pay variable-receive fixed			3,124,000		0.86			3.62				3,500,440		1.12		4.62
	Total interest rate swaps		$	8,296,809		2.42			1.5			$	8,788,329		2.49		2
	The derivative gains (losses) line item of the condensed consolidated statement of operations includes cash settlements and derivative forward value for derivative instruments that do not meet hedge accounting criteria. Gains and losses recorded on the condensed consolidated statements of operations for our interest rate swaps are summarized below:
			Three Months Ended					Nine Months Ended
			February 28,					February 28,
	(Dollars in thousands)		2014		2013			2014			2013
	Derivative cash settlements		$	-18,788	$	-14,607		$	-54,944		$	-43,926
	Derivative forward value			-12,835		61,233			98,925			62,194
	Derivative (losses) gains		$	-31,623	$	46,626		$	43,981		$	18,268
	Rating Triggers for Derivatives
	Some of our interest rate swaps have credit risk-related contingent features referred to as rating triggers. Rating triggers are not separate financial instruments and are not required to be accounted for separately as derivatives. At February 28, 2014, the following notional amounts of derivative instruments had rating triggers based on our senior unsecured credit ratings from Moody’s Investors Service or Standard & Poor’s Corporation falling to a level specified in the applicable agreements and are grouped into the categories below. In calculating the payments and collections required upon termination, we netted the agreements for each counterparty, as allowed by the underlying master agreements. At February 28, 2014, our senior unsecured credit ratings from Moody’s Investors Service and Standard & Poor’s Corporation were A2 and A, respectively. At February 28, 2014, both Moody’s Investors Service and Standard & Poor’s Corporation had our ratings on stable outlook.
	(Dollars in thousands)		Notional		Our Required			Amount We			Net
			Amount		Payment			Would Collect			Total
	Mutual rating trigger if ratings:
	fall to Baa1/BBB+ (1)		$	-	$	-		$	-		$	-
	fall below Baa1/BBB+ (1)			6,576,953		-160,733			75,860			-84,873
	Total		$	6,576,953	$	-160,733		$	75,860		$	-84,873
	(1) Stated senior unsecured credit ratings are for Moody’s Investors Service and Standard & Poor’s Corporation, respectively. Under these rating triggers, if the credit rating for either counterparty falls to the level specified in the agreement, the other counterparty may, but is not obligated to, terminate the agreement. If either counterparty terminates the agreement, a net payment may be due from one counterparty to the other based on the fair value, excluding credit risk, of the underlying derivative instrument.
	In addition to the rating triggers listed in the preceding table, at February 28, 2014, we had a total notional outstanding amount of $450 million of derivative instruments with one counterparty that would require the pledging of collateral totaling $9 million (the fair value of such derivative instruments excluding credit risk) if our senior unsecured ratings from Moody’s Investors Service were to fall below Baa2 or if the ratings from Standard & Poor’s Corporation were to fall below BBB. The aggregate fair value, net of the credit risk valuation adjustment, of all interest rate swaps with rating triggers that were in a net liability position at February 28, 2014 was $167 million.
	Offsetting Derivatives Assets and Liabilities
	As noted previously, all of our master swap agreements include netting provisions that allow for offsetting of all contracts with a given counterparty in the event of default by one of the two parties to the transaction. Notwithstanding netting provisions, our derivative assets and liabilities are not offset in the accompanying condensed consolidated balance sheets. The following table provides information on the gross fair value of derivative assets and liabilities and the gross amounts that are not offset in the condensed consolidated balance sheets.
			February 28, 2014
			Gross Amounts		Gross			Net Amounts of			Gross Amounts
								Assets/			Not Offset in the
								Liabilities			Balance Sheet
	(Dollars in thousands)		of Recognized		Amounts			Presented			Financial			Cash			Net
			Assets/		Offset in the			in the			Instruments			Collateral			Amount
			Liabilities		Balance Sheet			Balance Sheet						Pledged
	Assets:
	Derivatives - Interest rate swaps		$	261,598	$	-		$	261,598		$	193,733		$	-		$	67,865
	Liabilities:
	Derivatives - Interest rate swaps			380,518		-			380,518			193,733			-			186,785
			May 31, 2013
			Gross Amounts		Gross			Net Amounts of			Gross Amounts
								Assets/			Not Offset in the
								Liabilities			Balance Sheet
	(Dollars in thousands)		of Recognized		Amounts			Presented			Financial			Cash			Net
			Assets/		Offset in the			in the			Instruments			Collateral			Amount
			Liabilities		Balance Sheet			Balance Sheet						Pledged
	Assets:
	Derivatives - Interest rate swaps		$	257,878	$	-		$	257,878		$	203,161		$	-		$	54,717
	Liabilities:
	Derivatives - Interest rate swaps			475,278		-			475,278			203,161			-			272,117

Equity

Equity	9 Months Ended
	Feb. 28, 2014
Equity	'
Equity	'
	-9	Equity
	In May 2013, the CFC Board of Directors authorized the allocation of $1 million of fiscal year 2013 net earnings to the Cooperative Educational Fund. In July 2013, the CFC Board of Directors authorized the allocation of the fiscal year 2013 net earnings as follows: $138 million to the members’ capital reserve and $81 million to members in the form of patronage capital. In July 2013, the CFC Board of Directors authorized the retirement of allocated net earnings totaling $41 million, representing 50 percent of the fiscal year 2013 allocation. This amount was returned to members in cash on October 1, 2013. Future allocations and retirements of net earnings may be made annually as determined by the CFC Board of Directors with due regard for its financial condition. The CFC Board of Directors has the authority to change the current practice for allocating and retiring net earnings at any time, subject to applicable laws and regulations.

Guarantees

Guarantees	9 Months Ended
	Feb. 28, 2014
Guarantees	'
Guarantees	'
	-10	Guarantees
	The following table summarizes total guarantees by type of guarantee and member class:
	(Dollars in thousands)		February 28,			May 31,
			2014			2013
	Total by type:
	Long-term tax-exempt bonds		$	519,185		$	547,970
	Letters of credit			472,008			447,683
	Other guarantees			115,018			117,118
	Total		$	1,106,211		$	1,112,771
	Total by member class:
	CFC:
	Distribution		$	209,336		$	245,265
	Power supply			801,785			810,900
	Statewide and associate			5,488			6,948
	CFC total			1,016,609			1,063,113
	RTFC			2,304			3,711
	NCSC			87,298			45,947
	Total		$	1,106,211		$	1,112,771
	The maturities for the long-term tax-exempt bonds and the related guarantees run through calendar year 2042. Amounts in the table represent the outstanding principal amount of the guaranteed bonds. At February 28, 2014, our maximum potential exposure for the $73 million of fixed-rate tax-exempt bonds is $120 million, representing principal and interest. Of the amounts shown in the table above for long-term tax-exempt bonds, $446 million and $473 million as of February 28, 2014 and May 31, 2013, respectively, are adjustable or floating-rate bonds that may be converted to a fixed rate as specified in the applicable indenture for each bond offering. We are unable to determine the maximum amount of interest that we could be required to pay related to the remaining adjustable and floating-rate bonds. Many of these bonds have a call provision that in the event of a default allow us to trigger the call provision. This would limit our exposure to future interest payments on these bonds. Our maximum potential exposure is secured by a mortgage lien on all of the member system’s assets and future revenue. If the debt is accelerated because of a determination that the interest thereon is not tax-exempt, the system’s obligation to reimburse us for any guarantee payments will be treated as a long-term loan.
	The maturities for letters of credit run through calendar year 2024. The amounts shown in the table above represent our maximum potential exposure, of which $131 million is secured at February 28, 2014. Security provisions include a mortgage lien on substantially all of the system’s assets, future revenue and the system’s investment in our commercial paper.
	In addition to the letters of credit listed in the table, under master letter of credit facilities in place at February 28, 2014, we may be required to issue up to an additional $168 million in letters of credit to third parties for the benefit of our members. As of February 28, 2014, all of our master letter of credit facilities were subject to material adverse change clauses at the time of issuance. Also, at February 28, 2014 we had hybrid letter of credit facilities totaling $1,615 million that represent commitments that may be used for the issuance of letters of credit or line of credit loan advances, at the option of a borrower, and are included in unadvanced loan commitments for line of credit loans reported in Note 3, Loans and Commitments. Hybrid letter of credit facilities subject to material adverse change clauses at the time of issuance totaled $353 million at February 28, 2014. Prior to issuing a letter of credit, we would confirm that there has been no material adverse change in the business or condition, financial or otherwise, of the borrower since the time the loan was approved and confirm that the borrower is currently in compliance with the letter of credit terms and conditions. The remaining commitment under hybrid letter of credit facilities of $1,262 million may be used for the issuance of letters of credit as long as the borrower is in compliance with the terms and conditions of the facility.
	The maturities for other guarantees listed in the table run through calendar year 2025. The maximum potential exposure for these other guarantees is $116 million, all of which is unsecured.
	At February 28, 2014 and May 31, 2013, we had $456 million and $410 million of guarantees, respectively, representing 41 percent of total guarantees at the end of each period, under which our right of recovery from our members was not secured.
	At February 28, 2014, we were the liquidity provider for a total of $571 million of variable-rate tax-exempt bonds issued for our member cooperatives. As liquidity provider on these $571 million of tax-exempt bonds, we are required to purchase bonds that are tendered or put by investors. Investors provide notice to the remarketing agent that they will tender or put a certain amount of bonds at the next interest rate reset date. If the remarketing agent is unable to sell such bonds to other investors by the next interest rate reset date, we have unconditionally agreed to purchase such bonds. On a total of $446 million of the bonds for which we are liquidity provider, we also provide a guarantee of all principal and interest, which is shown in the chart above as a tax-exempt bond guarantee. On a total of $125 million of tax-exempt bonds, our obligation as liquidity provider is in the form of a letter of credit which is reflected in our letters of credit. During the nine months ended February 28, 2014, we were not required to perform as liquidity provider pursuant to these obligations.
	Guarantee Liability
	At February 28, 2014 and May 31, 2013, we recorded a guarantee liability of $23 million and $25 million, respectively, which represents the contingent and non-contingent exposures related to guarantees and liquidity obligations associated with our members’ debt. The contingent guarantee liability at February 28, 2014 and May 31, 2013 was $2 million based on management’s estimate of exposure to losses within the guarantee portfolio. The remaining balance of the total guarantee liability of $21 million and $23 million, respectively, at February 28, 2014 and May 31, 2013 relates to our non-contingent obligation to stand ready to perform over the term of our guarantees and liquidity obligations that we have entered into or modified since January 1, 2003.
	Activity in the guarantee liability account is summarized below:
	(Dollars in thousands)		Nine Months Ended
			February 28, 2014
	Beginning balance as of May 31, 2013		$	24,742
	Net change in non-contingent liability			-1,729
	Provision for contingent guarantee liability			159
	Ending balance as of February 28, 2014		$	23,172
	Liability as a percentage of total guarantees			2.09	%

Fair_Value_Measurement

Fair Value Measurement	9 Months Ended
	Feb. 28, 2014
Fair Value Measurement	'
Fair Value Disclosures	'
	-11	Fair Value Measurement
	Fair Value
	Assets and liabilities measured at fair value on either a recurring or non-recurring basis on the condensed consolidated balance sheets at February 28, 2014 and May 31, 2013 consisted of investments in common stock and preferred stock, derivative instruments, and collateral-dependent nonperforming loans.
	Assets and Liabilities Measured at Fair Value on a Recurring Basis
	We account for derivative instruments in the condensed consolidated balance sheets as either an asset or liability measured at fair value. There is not an active secondary market for the types of interest rate swaps we use. Our process to estimate the fair value of our derivative instruments involves multiple steps including consideration of indicative quotes from counterparties and use of a discounted cash flow model. We obtain indicative quotes from the interest rate swap counterparties to estimate fair value on a quarterly basis. The indicative quotes are based on the expected future cash flow and the estimated yield curve.
	We perform analysis to validate the indicative quotes obtained from our swap counterparties and investigate any significant differences. We adjust the market values received from the counterparties using credit default swap levels for us and the counterparties. The credit default swap levels represent the credit risk premium required by a market participant based on the available information related to us and the counterparty. We only enter into swap agreements with counterparties that are participating in our revolving lines of credit at the time the exchange agreements are executed. All of our swap agreements are subject to master netting agreements.
	Our valuation technique for interest rate swaps is based on discounted cash flows and we utilize observable inputs, which reflect market data. To calculate fair value, we determine the forward curve. The forward curve allows us to determine the projected floating rate cash flows and the discount factors needed to calculate the net present value of each interest payment. The significant observable inputs for our derivatives include Spot LIBOR rates, Eurodollar futures contracts, and market swap rates.
	Fair values for our interest rate swaps are classified as a Level 2 valuation. We record the change in the fair value of our derivatives for each reporting period in the derivative gains (losses) line, included in non-interest income in the condensed consolidated statements of operations, as currently none of our derivatives qualify for hedge accounting.
	Our investments in equity securities include investments in the Federal Agricultural Mortgage Corporation Class A common stock and Series A preferred stock and are recorded in the condensed consolidated balance sheet at fair value. We calculate fair value of the investments based on the quoted price on the stock exchange where the stock is traded. That stock exchange is an active market based on the volume of shares transacted. Fair values for these securities are classified as a Level 1 valuation. For the three and nine months ended February 28, 2014 we recorded an unrealized gain of $2 million and an unrealized loss of $3 million, respectively, compared with an unrealized loss of $0.5 million and unrealized gain of $0.4 million, respectively, for the prior-year periods in accumulated other comprehensive income on the condensed consolidated balance sheet.
	Deferred compensation investments are recorded in the condensed consolidated balance sheets in the other assets category at fair value. We calculate fair value based on the quoted price on the stock exchange where the funds are traded. That stock exchange is an active market based on the volume of shares transacted. The amounts are invested in highly liquid indices and mutual funds and are classified within Level 1 of the fair value hierarchy.
	The following table presents our assets and liabilities that are measured at fair value on a recurring basis:
			February 28, 2014				May 31, 2013
	(Dollars in thousands)		Level 1		Level 2		Level 1		Level 2
	Derivative assets		$	-	$	261,598	$	-	$	257,878
	Derivative liabilities			-		380,518		-		475,278
	Investments in common and preferred stock			28,702		-		31,632		-
	Deferred compensation investments			4,035		-		3,716		-
	Assets and Liabilities Measured at Fair Value on a Non-recurring Basis
	We may be required, from time to time, to measure certain assets at fair value on a non-recurring basis in accordance with GAAP. Any adjustments to fair value usually result from application of lower-of-cost or fair value accounting or write-downs of individual assets. At February 28, 2014 and May 31, 2013, we measured certain collateral-dependent nonperforming loans at fair value. We utilize the collateral fair value underlying the loan in estimating the specific loan loss allowance. To estimate the fair value of the collateral, we may use third party valuation specialists, internal estimates or a combination of both. The valuation technique used to determine fair value of the nonperforming loans provided by both our internal staff and third party specialists includes market multiples (i.e., comparable companies). The significant unobservable inputs used in the determination of fair value include EBITDA multiples ranging from 3.5x to 5.0x. The material inputs used in estimating fair value by both internal staff and third party specialists are Level 3 within the fair value hierarchy. In these instances, the valuation is considered to be a non-recurring item. The significant unobservable inputs for Level 3 assets that are valued using fair values obtained from third party specialists are reviewed by our Credit Risk Management group to assess the reasonableness of the assumptions used and the accuracy of the work performed. In cases where we rely on third party inputs, we use the final unadjusted third party valuation analysis as support for any financial statement adjustments and disclosures to the financial statements. The valuation techniques and significant unobservable inputs for assets classified as Level 3 in the fair value hierarchy, which are measured using an internal model, are independently reviewed by other internal staff.
	Assets measured at fair value on a non-recurring basis at February 28, 2014 and May 31, 2013, were classified as Level 3 within the fair value hierarchy. Any increase or decrease to significant unobservable inputs used in the determination of fair value will not have a material impact on the fair value measurement of those assets or to the results of operations of the Company. For the three and nine months ended February 28, 2014 and 2013, respectively, there were no losses on our nonperforming loans. The following table provides the carrying/fair value of the related individual assets at February 28, 2014 and May 31, 2013:
			Level 3 Fair Value
	(Dollars in thousands)		February 28,		May 31,
			2014		2013
	Nonperforming loans, net of specific reserves		$	10,331	$	12,070

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
	Feb. 28, 2014
Fair Value of Financial Instruments	'
Fair Value of Financial Instruments	'
	(12) Fair Value of Financial Instruments
	Carrying and fair values for our financial instruments are presented as follows:
		February 28, 2014				May 31, 2013
	(Dollars in thousands)	Carrying value		Fair Value		Carrying Value		Fair Value
	Assets:
	Cash and cash equivalents	$	842,915	$	842,915	$	177,062	$	177,062
	Restricted cash		7,256		7,256		7,696		7,696
	Investments		28,702		28,702		31,632		31,632
	Time deposits		700,000		700,000		700,000		700,000
	Deferred compensation investments		4,035		4,035		3,716		3,716
	Loans to members, net		20,589,024		21,015,784		20,251,549		21,318,406
	Debt service reserve funds		39,353		39,353		39,803		39,803
	Derivative instruments		261,598		261,598		257,878		257,878
	Liabilities:
	Short-term debt		6,541,987		6,547,673		7,719,483		7,751,021
	Long-term debt		12,902,920		14,079,914		10,696,433		12,156,097
	Guarantee liability		23,172		26,061		24,742		27,730
	Derivative instruments		380,518		380,518		475,278		475,278
	Subordinated deferrable debt		400,000		372,200		400,000		404,300
	Members’ subordinated certificates		1,486,965		1,486,965		1,729,226		1,880,672
	Off-balance sheet instruments:
	Commitments		-		-		-		-
	See Note 11, Fair Value Measurement, for more details on assets and liabilities measured at fair value on a recurring or non-recurring basis on our condensed consolidated balance sheets. We consider observable prices in the principal market in our valuations where possible. Fair value estimates were developed at the reporting date and may not necessarily be indicative of amounts that could ultimately be realized in a market transaction at a future date. There were no transfers between levels of the fair value hierarchy during the nine months ended February 28, 2014 and the year ended May 31, 2013.
	With the exception of redeeming debt under early redemption provisions, terminating derivative instruments under early termination provisions and allowing borrowers to prepay their loans, we held and intend to hold all financial instruments to maturity excluding common stock and preferred stock investments that have no stated maturity. Below is a summary of significant methodologies used in estimating fair value amounts at February 28, 2014 and May 31, 2013.
	Cash and Cash Equivalents
	Cash and cash equivalents includes cash and certificates of deposit with original maturities of less than 90 days. Cash and cash equivalents are valued at the carrying value, which approximates fair value. Cash and cash equivalents are classified within Level 1 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, cash and cash equivalents classified within Level 1 of the fair value hierarchy totaled $843 million and $177 million, respectively.
	Restricted Cash
	Restricted cash consists of cash and cash equivalents for which use is contractually restricted. Restricted cash is valued at the carrying value, which approximates fair value. Restricted cash is classified within Level 1 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, restricted cash classified within Level 1 of the fair value hierarchy totaled $7 million and $8 million, respectively.
	Investments
	Our investments include investments in the Federal Agricultural Mortgage Corporation Class A common stock and Series A preferred stock. The Class A common stock and Series A preferred stock are classified as available-for-sale securities and recorded in the condensed consolidated balance sheets at fair value. We calculate fair value based on the quoted price on the stock exchange where the stock is traded. That stock exchange is an active market based on the volume of shares transacted. The common stock and preferred stock are classified within Level 1 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, investments classified within Level 1 of the fair value hierarchy totaled $29 million and $32 million, respectively.
	Time Deposits
	Time deposits with financial institutions in interest bearing accounts have maturities of less than one year as of the reporting date and are valued at the carrying value, which approximates fair value. The deposits are classified within Level 2 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, time deposits classified within Level 2 of the fair value hierarchy totaled $700 million.
	Deferred Compensation Investments
	CFC offers a non-qualified 457(b) deferred compensation plan to highly compensated employees. Such amounts deferred by employees are invested by the company. The deferred compensation investments are recorded in the condensed consolidated balance sheets in the other assets category at fair value. We calculate fair value based on the quoted price on the stock exchange where the funds are traded. That stock exchange is an active market based on the volume of shares transacted. The amounts are invested in highly liquid indices and mutual funds and are classified within Level 1 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, deferred compensation investments classified within Level 1 of the fair value hierarchy totaled $4 million.
	Loans to Members, net
	As part of receiving a loan from us, our members have additional requirements and rights that are not typical of other financial institutions, such as the ability to receive a patronage capital allocation, the general requirement to purchase subordinated certificates or member capital securities to meet their capital contribution requirements as a condition of obtaining additional credit from us, the option to select fixed rates from one year to maturity with the fixed rate resetting or repricing at the end of each selected rate term, the ability to convert from a fixed rate to another fixed rate or the variable rate at any time, and certain interest rate discounts that are specific to the borrower’s activity with us. These features make it difficult to obtain market data for similar loans. Therefore, we must use other methods to estimate the fair value.
	Fair values for fixed-rate loans are estimated using a discounted cash flow technique by discounting the expected future expected cash flows using the current rates at which we would make similar loans to new borrowers for the same remaining maturities. The maturity date used in the fair value calculation of loans with a fixed rate for a selected rate term is the next repricing date since these borrowers must reprice their loans at various times throughout the life of the loan at the current market rate.
	Loans with different risk characteristics, specifically nonperforming and restructured loans, are valued by using collateral valuations or by adjusting cash flows for credit risk and discounting those cash flows using the current rates at which similar loans would be made by us to borrowers for the same remaining maturities. See Note 11, Fair Value Measurement, for more details about how we calculate the fair value of certain nonperforming loans.
	The carrying value of our variable rate loans adjusted for credit risk approximates fair value since variable-rate loans are eligible to be reset at least monthly.
	Loans to members are classified within Level 3 of the fair value hierarchy and at February 28, 2014 and May 31, 2013, totaled $21,016 million and $21,318 million, respectively.
	Debt Service Reserve Funds
	Debt service reserve funds represent cash and/or investments on deposit with the bond trustee for tax-exempt bonds that we guarantee. Debt service reserve fund investments are comprised of actively traded tax exempt municipal bonds and commercial paper. Carrying value is considered to be equal to fair value. Debt service reserve funds are classified within Level 1 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, debt service reserve funds classified within Level 1 of the fair value hierarchy totaled $39 million and $40 million, respectively.
	Short-Term Debt
	Short-term debt consists of commercial paper, select notes, bank bid notes, daily liquidity fund and other long-term debt due within one year. The fair value of short-term debt with maturities less than or equal to 90 days is carrying value, which is a reasonable estimate of fair value. The fair value of short-term debt with maturities greater than 90 days is estimated based on discounted cash flows and quoted market rates for debt with similar maturities. Short-term debt classified within Level 1 of the fair value hierarchy is comprised of dealer commercial paper, bank bid notes, and daily liquidity fund. At February 28, 2014 and May 31, 2013, short-term debt classified within Level 1 of the fair value hierarchy is based on quoted prices in active markets and totaled $3,353 million and $2,840 million, respectively.
	Short-term debt classified within Level 2 of the fair value hierarchy is comprised of member commercial paper, non-member commercial paper and select notes. At February 28, 2014 and May 31, 2013, short-term debt classified within Level 2 of the fair value hierarchy was determined based on discounted cash flows using discount rates consistent with current market rates for similar products with similar remaining terms and totaled $1,433 million and $1,210 million, respectively. Short-term debt classified within Level 2 also includes our collateral trust bonds and medium-term notes maturing within one year. At February 28, 2014 and May 31, 2013, such short-term debt classified within Level 2 of the fair value hierarchy totaled $1,495 million and $2,912 million, respectively. The fair value of short term debt classified within Level 2 of the fair value hierarchy was determined based on discounted cash flows using a pricing model that incorporates available market information such as indicative benchmark yields and credit spread assumptions that are provided by third party pricing services such as our banks that underwrite our other debt transactions.
	Short-term debt classified within Level 3 of the fair value hierarchy includes our notes payable, members’ subordinated certificates and members’ capital securities due within one year and totaled $267 million and $789 million at February 28, 2014 and May 31, 2013, respectively. The fair value of short-term debt classified within Level 3 of the fair value hierarchy was determined based on discounted cash flows using benchmark yields and spreads for similar instruments supplied by underwriter quotes for similar instruments, if available. Secondary trading quotes for our debt instruments used in the determination of fair value incorporate our credit risk.
	Long-Term Debt
	Long-term debt consists of collateral trust bonds, medium-term notes and long-term notes payable. We issue substantially all collateral trust bonds and some medium-term notes in underwritten public transactions. Collateral trust bonds and medium-term notes are classified within Level 2 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, long-term debt classified within Level 2 of the fair value hierarchy totaled $8,424 million and $7,410 million, respectively. The fair value of long-term debt classified within Level 2 of the fair value hierarchy was determined based on discounted cash flows. There is no active secondary trading for the underwritten collateral trust bonds and medium-term notes; therefore, dealer quotes and recent market prices are both used in estimating fair value. There is essentially no secondary market for the medium-term notes issued to our members or in transactions that are not underwritten; therefore, fair value is estimated based on observable benchmark yields and spreads for similar instruments supplied by banks that underwrite our other debt transactions.
	The long-term notes payable are issued in private placement transactions and there is no secondary trading of such debt. Long-term notes payable are classified within Level 3 of the fair value hierarchy. Long-term debt classified within Level 3 of the fair value hierarchy totaled $5,656 million and $4,746 million at February 28, 2014 and May 31, 2013, respectively. The fair value was determined based on discounted cash flows using benchmark yields and spreads for similar instruments supplied by underwriter quotes for similar instruments, if available. Secondary trading quotes for our debt instruments used in the determination of fair value incorporate our credit risk.
	Guarantees
	The fair value of our guarantee liability is based on the fair value of our contingent and non-contingent exposure related to our guarantees. The fair value of our contingent exposure for guarantees is based on management’s estimate of our exposure to losses within the guarantee portfolio using a discounted cash flow method. The fair value of our non-contingent exposure for guarantees issued is estimated based on the total unamortized balance of guarantee fees paid and guarantee fees to be paid discounted at our current short-term funding rate, which represents management’s estimate of the fair value of our obligation to stand ready to perform. Guarantees are classified within Level 3 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, guarantees classified within Level 3 of the fair value hierarchy totaled $26 million and $28 million, respectively.
	Subordinated Deferrable Debt
	Subordinated deferrable debt outstanding was issued in an underwritten public transaction. There is no active secondary trading for this subordinated deferrable debt; therefore, dealer quotes and recent market prices are both used in estimating fair value based on a discounted cash flow method. Subordinated deferrable debt is classified within Level 2 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, subordinated deferrable debt classified within Level 2 of the fair value hierarchy totaled $372 million and $404 million, respectively.
	Members’ Subordinated Certificates
	Members’ subordinated certificates include (i) membership subordinated certificates issued to our members, (ii) loan and guarantee subordinated certificates issued as a condition of obtaining loan funds or guarantees and (iii) member capital securities issued as voluntary investments by our members. All members’ subordinated certificates are non-transferable other than among members with CFC’s consent and there is no ready market from which to obtain fair value quotes. These certificates are valued at par.Members’ subordinated certificates are classified within Level 3 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, members’ subordinated certificates classified within Level 3 of the fair value hierarchy totaled $1,487 million and $1,881 million, respectively.
	Derivative Instruments
	We record derivative instruments in the condensed consolidated balance sheets as either an asset or liability measured at fair value. Because there is not an active secondary market for the types of interest rate swaps we use, we obtain indicative quotes from the interest rate swap counterparties to estimate fair value on a quarterly basis. The indicative quotes are based on the expected future cash flow and estimated yield curves. We adjust the market values received from the counterparties using credit default swap levels for us and the counterparties. The credit default swap levels represent the credit risk premium required by a market participant based on the available information related to us and the counterparty. Derivative instruments are classified within Level 2 of the fair value hierarchy. At February 28, 2014 and May 31, 2013, derivative asset instruments classified within Level 2 of the fair value hierarchy totaled $262 million and $258 million, respectively, and derivative liability instruments classified within Level 2 of the fair value hierarchy totaled $381 million and $475 million, respectively.
	Commitments
	The fair value of our commitments is estimated as the carrying value, or zero. Extensions of credit under these commitments, if exercised, would result in loans priced at market rates.

Segment_Information

Segment Information	9 Months Ended
	Feb. 28, 2014
Segment Information	'
Segment Reporting	'
	-13	Segment Information
	The following tables contain the segment presentation for the condensed consolidated statements of operations for the three and nine months ended February 28, 2014 and 2013 and condensed consolidated balance sheets at February 28, 2014 and 2013.
			Three Months Ended February 28, 2014
	(Dollars in thousands)		CFC		Other		Elimination		Consolidated
	Statement of operations:
	Interest income		$	234,927	$	12,613	$	-8,808	$	238,732
	Interest expense			-163,157		-9,185		8,808		-163,534
	Net interest income			71,770		3,428		-		75,198
	Provision for loan losses			-787		-		-		-787
	Net interest income after provision for loan losses			70,983		3,428		-		74,411
	Non-interest income:
	Fee and other income			5,127		374		201		5,702
	Derivative losses			-30,808		-815		-		-31,623
	Results of operations from foreclosed assets			-1,164		-		-		-1,164
	Total non-interest income			-26,845		-441		201		-27,085
	Non-interest expense:
	General and administrative expenses			-14,477		-2,505		-201		-17,183
	Provision for guarantee liability			-117		-		-		-117
	Losses on early extinguishment of debt			-1,452		-		-		-1,452
	Other			210		-		-		210
	Total non-interest expense			-15,836		-2,505		-201		-18,542
	Income prior to income taxes			28,302		482		-		28,784
	Income tax expense			-		-243		-		-243
	Net income		$	28,302	$	239	$	-	$	28,541
			Three Months Ended February 28, 2013
	(Dollars in thousands)		CFC		Other		Elimination		Consolidated
	Statement of operations:
	Interest income		$	230,039	$	13,971	$	-9,989	$	234,021
	Interest expense			-171,491		-10,395		9,987		-171,899
	Net interest income			58,548		3,576		-2		62,122
	Recovery of loan losses			378		-		-		378
	Net interest income after recovery of loan losses			58,926		3,576		-2		62,500
	Non-interest income:
	Fee and other income			6,229		335		-227		6,337
	Derivative gains (losses)			44,954		1,690		-18		46,626
	Results of operations from foreclosed assets			6,478		-		-		6,478
	Total non-interest income			57,661		2,025		-245		59,441
	Non-interest expense:
	General and administrative expenses			-27,638		-2,870		229		-30,279
	Recovery of guarantee liability			46		-		-		46
	Other			-572		-		18		-554
	Total non-interest expense			-28,164		-2,870		247		-30,787
	Income prior to income taxes			88,423		2,731		-		91,154
	Income tax expense			-		-1,067		-		-1,067
	Net income		$	88,423	$	1,664	$	-	$	90,087
			Nine Months Ended February 28, 2014
	(Dollars in thousands)		CFC		Other		Elimination		Consolidated
	Statement of operations:
	Interest income		$	707,758	$	37,958	$	-26,659	$	719,057
	Interest expense			-495,357		-27,766		26,659		-496,464
	Net interest income			212,401		10,192		-		222,593
	Provision for loan losses			-3,161		-		-		-3,161
	Net interest income after provision for loan losses			209,240		10,192		-		219,432
	Non-interest income:
	Fee and other income			13,314		1,068		601		14,983
	Derivative gains			43,543		438		-		43,981
	Results of operations from foreclosed assets			-8,482		-		-		-8,482
	Total non-interest income			48,375		1,506		601		50,482
	Non-interest expense:
	General and administrative expenses			-47,140		-6,630		-601		-54,371
	Provision for guarantee liability			-159		-		-		-159
	Losses on early extinguishment of debt			-1,452		-		-		-1,452
	Other			-89		1		-		-88
Total non-interest expense			-48,840		-6,629		-601		-56,070
Income prior to income taxes			208,775		5,069		-		213,844
Income tax expense			-		-2,045		-		-2,045
Net income		$	208,775	$	3,024	$	-	$	211,799
Assets:
Total loans outstanding		$	20,605,354	$	1,234,787	$	-1,204,808	$	20,635,333
Deferred origination costs			9,731		-		-		9,731
Less: Allowance for loan losses			-56,040		-		-		-56,040
Loans to members, net			20,559,045		1,234,787		-1,204,808		20,589,024
Other assets			2,492,657		145,847		-120,199		2,518,305
Total assets		$	23,051,702	$	1,380,634	$	-1,325,007	$	23,107,329
		Nine Months Ended February 28, 2013
(Dollars in thousands)		CFC		Other		Elimination		Consolidated
Statement of operations:
Interest income		$	703,721	$	42,304	$	-30,289	$	715,736
Interest expense			-521,525		-31,558		30,287		-522,796
Net interest income			182,196		10,746		-2		192,940
Provision for loan losses			-4,927		-		-		-4,927
Net interest income after provision for loan losses			177,269		10,746		-2		188,013
Non-interest income:
Fee and other income			28,762		1,021		-681		29,102
Derivative (gains) losses			18,518		-232		-18		18,268
Results of operations from foreclosed assets			804		-		-		804
Total non-interest income			48,084		789		-699		48,174
Non-interest expense:
General and administrative expenses			-59,935		-7,648		683		-66,900
Recovery of guarantee liability			147		-		-		147
Other			-5,119		-		18		-5,101
Total non-interest expense			-64,907		-7,648		701		-71,854
Income prior to income taxes			160,446		3,887		-		164,333
Income tax expense			-		-1,519		-		-1,519
Net income		$	160,446	$	2,368	$	-	$	162,814
Assets:
Total loans outstanding		$	19,445,360	$	1,245,392	$	-1,213,018	$	19,477,734
Deferred origination costs			8,414		-		-		8,414
Less: Allowance for loan losses			-148,411		-		-		-148,411
Loans to members, net			19,305,363		1,245,392		-1,213,018		19,337,737
Other assets			2,133,425		151,832		-124,793		2,160,464
Total assets		$	21,438,788	$	1,397,224	$	-1,337,811	$	21,498,201

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Feb. 28, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
		(a)	Basis of Presentation
	The accompanying financial statements include the consolidated accounts of National Rural Utilities Cooperative Finance Corporation (“CFC”), Rural Telephone Finance Cooperative (“RTFC”), National Cooperative Services Corporation (“NCSC”) and certain entities created and controlled by CFC to hold foreclosed assets and accommodate loan securitization transactions, after elimination of intercompany accounts and transactions.
	Unless stated otherwise, references to “we,” “our” or “us” represent the consolidation of CFC, RTFC, NCSC and certain entities created and controlled by CFC to hold foreclosed assets and accommodate loan securitization transactions. Foreclosed assets are held by two subsidiaries controlled by CFC. Denton Realty Partners, LP (“DRP”) holds a land development loan and a related limited partnership interest. Caribbean Asset Holdings (“CAH”) holds our investment in cable and telecommunications operating entities in the United States Virgin Islands (“USVI”), British Virgin Islands and St. Maarten.
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the assets, liabilities, revenue and expenses reported in the financial statements, as well as amounts included in the notes thereto, including discussion and disclosure of contingent liabilities. The accounting estimates that require our most significant and subjective judgments include the allowance for loan losses and the determination of the fair value of our derivatives and certain aspects of our foreclosed assets. While we use our best estimates and judgments based on the known facts at the date of the financial statements, actual results could differ from these estimates as future events occur.
	During the preparation of our consolidated balance sheets for the quarter ended February 28, 2014, we determined that an intercompany elimination entry related to the consolidation of RTFC had been misclassified in each period since May 31, 2009, resulting in an overstatement of other liabilities and an understatement of noncontrolling interest at the end of each reported period. We corrected the misclassification in the quarter ended February 28, 2014, which resulted in a decrease of $11.5 million in other liabilities and a corresponding increase in noncontrolling interest. We concluded that the correction of the misclassification was not material to our financial position in the current period, and the misclassification was not material to our financial position in the previously reported periods. Accordingly, we did not revise prior period balance sheet amounts. The misclassification had no impact on our, consolidated statements of operations and comprehensive income, total assets, total liabilities and equity, or cash flows for any of our previously filed annual or quarterly financial statements, and did not impact the compliance with any of our financial debt covenants for any period.
	These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2013. Reclassifications of prior period amounts have been made to conform to the current period presentation.
	In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments (which consist only of normal recurring accruals) necessary for a fair presentation of our results of operations and financial position for the interim periods presented.
Variable Interest Entities	'
		(b)	Variable Interest Entities
	We are required to consolidate the financial results of RTFC and NCSC because CFC is the primary beneficiary of variable interests in RTFC and NCSC due to its exposure to absorbing the majority of their expected losses and because CFC manages the lending activities of RTFC and NCSC.
	Under separate guarantee agreements, RTFC and NCSC pay CFC a fee to indemnify against loan losses. CFC is the sole lender to and manages the business operations of RTFC through a management agreement in effect until December 1, 2016, which is automatically renewed for one-year terms thereafter unless terminated by either party. CFC is the primary source of funding to and manages the lending activities of NCSC through a management agreement that is automatically renewable on an annual basis unless terminated by either party. NCSC funds its lending programs through loans from CFC or debt guaranteed by CFC. In connection with these guarantees, NCSC must pay a guarantee fee and purchase from CFC interest-bearing subordinated term certificates in proportion to the related guarantee.
	RTFC and NCSC creditors have no recourse against CFC in the event of a default by RTFC and NCSC, unless there is a guarantee agreement under which CFC has guaranteed NCSC or RTFC debt obligations to a third party. At February 28, 2014, CFC had guaranteed $121 million of NCSC debt, derivative instruments and guarantees with third parties, and CFC’s maximum potential exposure for these instruments totaled $128 million. The maturities for NCSC obligations guaranteed by CFC extend through 2031. Guarantees of NCSC debt and derivative instruments are not included in Note 10, Guarantees, as the debt and derivatives are reported on the condensed consolidated balance sheet. At February 28, 2014, CFC guaranteed $2 million of RTFC guarantees with third parties. The maturities for RTFC obligations guaranteed by CFC extend through 2015 and are renewed on an annual basis. All CFC loans to RTFC and NCSC are secured by all assets and revenue of RTFC and NCSC, respectively. At February 28, 2014, RTFC had total assets of $577 million including loans outstanding to members of $455 million, and NCSC had total assets of $804 million including loans outstanding of $779 million. At February 28, 2014, CFC had committed to lend RTFC up to $4,000 million, of which $441 million was outstanding. At February 28, 2014, CFC had committed to provide up to $3,000 million of credit to NCSC, of which $884 million was outstanding, representing $763 million of outstanding loans and $121 million of credit enhancements.
Loan Sales	'
		(c)	Loan Sales
	We account for the transfer of loans resulting from direct loan sales to third parties and securitization transactions by removing the loans from our condensed consolidated balance sheets when control has been surrendered. We retain the servicing performance obligations on these loans and recognize related servicing fees on an accrual basis over the period for which servicing activity is provided. Deferred transaction costs and unamortized deferred loan origination costs related to the loans sold are included in determining the gain or loss on the sale. We do not hold any continuing interest in the loans sold to date other than servicing performance obligations. We have no obligation to repurchase loans from the purchaser, except in the case of breaches of representations and warranties.
	During the nine months ended February 28, 2014 and 2013, we sold CFC loans with outstanding balances totaling $106 million and $121 million, respectively, at par for cash. We recorded immaterial losses on the sale of these loans.
Interest Income	'
		(d)	Interest Income
	Interest income on loans is recognized using the effective interest method. The following table presents the components of interest income:
			Three Months Ended				Nine Months Ended
			February 28,				February 28,
	(Dollars in thousands)		2014		2013		2014		2013
	Interest on long-term fixed-rate loans		$	220,227	$	216,716	$	666,762	$	652,903
	Interest on long-term variable-rate loans			5,217		5,203		14,871		16,121
	Interest on line of credit loans			8,302		7,961		23,379		23,066
	Interest on restructured loans			-		436		136		13,523
	Interest on investments			1,932		1,864		5,685		4,378
	Fee income (1)			3,054		1,841		8,224		5,745
	Total interest income		$	238,732	$	234,021	$	719,057	$	715,736
	(1) Primarily related to conversion fees that are deferred and recognized using the effective interest method over the remaining original loan interest rate pricing term, except for a small portion of the total fee charged to cover administrative costs related to the conversion, which is recognized immediately.
	Deferred income recorded on the condensed consolidated balance sheets primarily consists of deferred conversion fees totaling $74 million and $21 million at February 28, 2014 and May 31, 2013, respectively.
Interest Expense	'
		(e)	Interest Expense
	The following table presents the components of interest expense:
			Three Months Ended				Nine Months Ended
			February 28,				February 28,
	(Dollars in thousands)		2014		2013		2014		2013
	Interest expense on debt (1):
	Short-term debt		$	1,406	$	1,717	$	4,445	$	5,033
	Medium-term notes			20,369		21,294		62,920		74,010
	Collateral trust bonds			76,090		84,197		227,746		247,907
	Subordinated deferrable debt			4,750		2,806		14,250		8,419
	Subordinated certificates			19,777		20,345		60,897		61,227
	Long-term notes payable			37,130		37,622		113,828		113,933
	Debt issuance costs (2)			1,806		1,891		5,453		5,733
	Fee expense (3)			2,206		2,027		6,925		6,534
	Total interest expense		$	163,534	$	171,899	$	496,464	$	522,796
	(1) Represents interest expense and the amortization of discounts on debt.
	(2) Includes amortization of all deferred charges related to the issuance of debt, principally underwriters’ fees, legal fees, printing costs and comfort letter fees. Amortization is calculated using the effective interest method or a method approximating the effective interest method. Also includes issuance costs related to dealer commercial paper, which are recognized as incurred.
	(3) Includes various fees related to funding activities, including fees paid to banks participating in our revolving credit agreements.
	We exclude indirect costs, if any, related to funding activities from interest expense.
Derivative Financial Instruments	'
		(f)	Derivative Financial Instruments
	We are an end user of financial derivative instruments and not a swap dealer. We use derivatives such as interest rate swaps and treasury rate locks to mitigate interest rate risk. Consistent with the accounting standards for derivative financial instruments, we record derivative instruments (including certain derivative instruments embedded in other contracts) on the condensed consolidated balance sheets as either an asset or liability measured at fair value. In recording the fair value of derivative assets and liabilities, we do not net our positions under contracts with individual counterparties. Accrued cash settlements on our derivatives are recorded as accrued interest and other receivables and accrued interest payable line items of the condensed consolidated balance sheet. Changes in the fair value of derivative instruments along with realized gains and losses from cash settlements are recognized in the derivative gains (losses) line item of the condensed consolidated statement of operations unless specific hedge accounting criteria are met.
	We formally document, designate and assess the effectiveness of derivatives designated for hedge accounting treatment, which typically include treasury rate locks. If applicable cash flow hedge accounting criteria are met for these derivatives, changes in the fair value of the derivative instruments are recorded in other comprehensive income, and net cash settlements are recorded in interest expense. The gain or loss on derivatives used as a cash flow hedge of a forecasted debt transaction is recorded as a component of other comprehensive income (loss) and reclassified to  interest expense using the effective interest method over the term of the hedged debt. Any ineffectiveness in the hedging relationship is recognized in the derivative gains (losses) line of the statement of operations.
	Cash activity associated with interest rate swaps is classified as an operating activity in the condensed consolidated statements of cash flows.
New Accounting Pronouncements	'
		(g)	New Accounting Pronouncements
	In December 2011, the Financial Accounting Standards Board issued Accounting Standards Update, Disclosures about Offsetting Assets and Liabilities, which requires enhanced disclosures about certain financial assets and liabilities that are subject to enforceable master netting agreements or similar agreements, or that have otherwise been offset on the balance sheet under certain specific conditions that permit net presentation. In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies that the scope of the above guidance is limited to derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions. The guidance was effective for us beginning in the first quarter of fiscal year 2014. See Note 8, Derivative Financial Instruments, for additional disclosures about offsetting assets and liabilities.
	In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income, which requires enhanced disclosures of the amounts reclassified out of Accumulated Other Comprehensive Income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of Accumulated Other Comprehensive Income by the respective line items of net income, but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. The guidance was effective for us beginning in the first quarter of fiscal year 2014 and did not have a material effect on the condensed consolidated financial statements, as the amounts reclassified out of other comprehensive income are immaterial for all periods presented.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Feb. 28, 2014
Accounting Policies [Abstract]	'
Interest and Other Income	'
	The following table presents the components of interest income:
		Three Months Ended				Nine Months Ended
		February 28,				February 28,
	(Dollars in thousands)	2014		2013		2014		2013
	Interest on long-term fixed-rate loans	$	220,227	$	216,716	$	666,762	$	652,903
	Interest on long-term variable-rate loans		5,217		5,203		14,871		16,121
	Interest on line of credit loans		8,302		7,961		23,379		23,066
	Interest on restructured loans		-		436		136		13,523
	Interest on investments		1,932		1,864		5,685		4,378
	Fee income (1)		3,054		1,841		8,224		5,745
	Total interest income	$	238,732	$	234,021	$	719,057	$	715,736
	(1) Primarily related to conversion fees that are deferred and recognized using the effective interest method over the remaining original loan interest rate pricing term, except for a small portion of the total fee charged to cover administrative costs related to the conversion, which is recognized immediately.
Schedule of Components of Interest (Expense)	'
	The following table presents the components of interest expense:
		Three Months Ended				Nine Months Ended
		February 28,				February 28,
	(Dollars in thousands)	2014		2013		2014		2013
	Interest expense on debt (1):
	Short-term debt	$	1,406	$	1,717	$	4,445	$	5,033
	Medium-term notes		20,369		21,294		62,920		74,010
	Collateral trust bonds		76,090		84,197		227,746		247,907
	Subordinated deferrable debt		4,750		2,806		14,250		8,419
	Subordinated certificates		19,777		20,345		60,897		61,227
	Long-term notes payable		37,130		37,622		113,828		113,933
	Debt issuance costs (2)		1,806		1,891		5,453		5,733
	Fee expense (3)		2,206		2,027		6,925		6,534
	Total interest expense	$	163,534	$	171,899	$	496,464	$	522,796
	(1) Represents interest expense and the amortization of discounts on debt.
	(2) Includes amortization of all deferred charges related to the issuance of debt, principally underwriters’ fees, legal fees, printing costs and comfort letter fees. Amortization is calculated using the effective interest method or a method approximating the effective interest method. Also includes issuance costs related to dealer commercial paper, which are recognized as incurred.
	(3) Includes various fees related to funding activities, including fees paid to banks participating in our revolving credit agreements.

Loans_and_Commitments_Tables

Loans and Commitments (Tables)	9 Months Ended
	Feb. 28, 2014
Loans and Commitments	'
Schedule of Financing Receivable and Unadvanced Commitments	'
	Loans outstanding to members and unadvanced commitments by loan type and by member class are summarized as follows:
		February 28, 2014						May 31, 2013
	(Dollars in thousands)	Loans			Unadvanced			Loans			Unadvanced
		Outstanding			Commitments (1)			Outstanding			Commitments (1)
	Total by loan type (2):
	Long-term fixed-rate loans	$	18,185,111		$	-		$	17,918,268		$	-
	Long-term variable-rate loans		770,883			4,547,813			782,006			4,718,162
	Loans guaranteed by RUS		203,173			-			210,815			-
	Line of credit loans		1,476,166			8,996,845			1,385,228			8,704,586
	Total loans outstanding		20,635,333			13,544,658			20,296,317			13,422,748
	Deferred origination costs		9,731			-			9,557			-
	Less: Allowance for loan losses		-56,040			-			-54,325			-
	Net loans outstanding	$	20,589,024		$	13,544,658		$	20,251,549		$	13,422,748
	Total by member class (2):
	CFC:
	Distribution	$	15,186,620		$	9,115,128		$	14,941,192		$	8,948,826
	Power supply		4,149,104			3,024,666			4,007,669			3,145,518
	Statewide and associate		64,822			128,440			70,956			102,087
	CFC total		19,400,546			12,268,234			19,019,817			12,196,431
	RTFC		455,492			312,466			503,359			317,344
	NCSC		779,295			963,958			773,141			908,973
	Total loans outstanding	$	20,635,333		$	13,544,658		$	20,296,317		$	13,422,748
	(1) The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.
	(2) Includes nonperforming and restructured loans.
	Nonperforming and restructured loans outstanding and unadvanced commitments to members included in the table above are summarized by loan type and by company below:
		February 28, 2014						May 31, 2013
		Loans			Unadvanced			Loans			Unadvanced
	(Dollars in thousands)	Outstanding			Commitments (1)			Outstanding			Commitments (1)
	Nonperforming and restructured loans:
	Nonperforming loans:
	CFC:
	Line of credit loans	$	5,000		$	-		$	5,000		$	-
	NCSC:
	Line of credit loans		450			-			-			-
	RTFC:
	Long-term fixed-rate loans		2,786			-			3,690			-
	Long-term variable-rate loans		2,609			-			6,807			-
	Total nonperforming loans	$	10,845		$	-		$	15,497		$	-
	Restructured loans:
	CFC:
	Long-term fixed-rate loans	$	7,584		$	-		$	46,953		$	-
	Line of credit loans (2)		-			-			-			5,000
	Total restructured loans	$	7,584		$	-		$	46,953		$	5,000
	(1) The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.
	(2) The unadvanced commitment is part of the terms outlined in the related restructure agreement. Loans advanced under these commitments would be classified as performing. Principal and interest due under these performing loans would be in addition to scheduled payments due under the restructured loan agreement.
Schedule of Available Balance and Maturities of Committed Lines of Credit	'
	The following table summarizes the available balance at February 28, 2014 under committed lines of credit that are not subject to a material adverse change clause and the related maturities by fiscal year and thereafter as follows:
		Available			Notional Maturities of Committed Lines of Credit
	(Dollars in thousands)	Balance			2014			2015			2016		2017			2018			Thereafter
	Committed lines of credit	$	2,248,762		$	19,048		$	55,026		$	61,000	$	466,061		$	861,098		$	786,529
Past Due Financing Receivables	'
	The tables below present the payment status, including an aging of delinquent loans, of the recorded investment in loans outstanding by member class at February 28, 2014 and May 31, 2013:
		February 28, 2014
	(Dollars in thousands)	Current				30-89 Days				90 Days or			Total				Total				Non-accrual
						Past Due				More			Past Due				Financing				Loans
										Past Due (1)							Receivables
	CFC:
	Distribution	$	15,186,620			$	-			$	-		$	-			$	15,186,620			$	7,584
	Power supply		4,144,104				-				5,000			5,000				4,149,104				5,000
	Statewide and associate		64,822				-				-			-				64,822				-
	CFC total		19,395,546				-				5,000			5,000				19,400,546				12,584
	RTFC		451,913				-				3,579			3,579				455,492				5,395
	NCSC		779,295				-				-			-				779,295				450
	Total loans outstanding	$	20,626,754			$	-			$	8,579		$	8,579			$	20,635,333			$	18,429
	As a % of total loans		99.96	%			0	%			0.04	%		0.04	%			100	%			0.09	%
	(1) All loans 90 days or more past due are on non-accrual status.
		May 31, 2013
	(Dollars in thousands)	Current				30-89 Days				90 Days or			Total				Total				Non-accrual
						Past Due				More			Past Due				Financing				Loans
										Past Due (1)							Receivables
	CFC:
	Distribution	$	14,938,351			$	2,841			$	-		$	2,841			$	14,941,192			$	7,584
	Power supply		4,002,669				-				5,000			5,000				4,007,669				5,000
	Statewide and associate		70,956				-				-			-				70,956				-
	CFC total		19,011,976				2,841				5,000			7,841				19,019,817				12,584
	RTFC		495,040				4,163				4,156			8,319				503,359				10,497
	NCSC		773,141				-				-			-				773,141				-
	Total loans outstanding	$	20,280,157			$	7,004			$	9,156		$	16,160			$	20,296,317			$	23,081
	As a % of total loans		99.92	%			0.03	%			0.05	%		0.08	%			100	%			0.11	%
	(1) All loans 90 days or more past due are on non-accrual status.
Financing Receivable Credit Quality Indicators	'
	The following table presents our loan portfolio by risk rating category and member class at February 28, 2014 and May 31, 2013:
		February 28, 2014									31-May-13
	(Dollars in thousands)	Pass			Criticized			Total			Pass		Criticized			Total
	CFC:
	Distribution	$	15,168,785		$	17,835		$	15,186,620		$	14,922,558	$	18,634		$	14,941,192
	Power supply		4,144,104			5,000			4,149,104			4,002,669		5,000			4,007,669
	Statewide and associate		64,542			280			64,822			70,668		288			70,956
	CFC total		19,377,431			23,115			19,400,546			18,995,895		23,922			19,019,817
	RTFC		441,757			13,735			455,492			483,058		20,301			503,359
	NCSC		776,981			2,314			779,295			770,419		2,722			773,141
	Total loans outstanding	$	20,596,169		$	39,164		$	20,635,333		$	20,249,372	$	46,945		$	20,296,317
Schedule of Financing Receivable Secured and Unsecured	'
	The following table summarizes our secured and unsecured loans outstanding by loan type and by company:
		February 28, 2014											May 31, 2013
	(Dollars in thousands)	Secured			%			Unsecured			%		Secured			%			Unsecured			%
	Total by loan type:
	Long-term fixed-rate loans	$	17,128,504		94	%		$	1,056,607		6	%	$	16,871,594		94	%		$	1,046,674		6	%
	Long-term variable-rate loans		679,446		88				91,437		12			676,075		86				105,931		14
	Loans guaranteed by RUS		203,173		100				-		-			210,815		100				-		-
	Line of credit loans		307,820		21				1,168,346		79			294,575		21				1,090,653		79
	Total loans outstanding	$	18,318,943		89			$	2,316,390		11		$	18,053,059		89			$	2,243,258		11
	Total by company:
	CFC	$	17,323,741		89	%		$	2,076,805		11	%	$	17,049,029		90	%		$	1,970,788		10	%
	RTFC		436,001		96				19,491		4			482,647		96				20,712		4
	NCSC		559,201		72				220,094		28			521,383		67				251,758		33
	Total loans outstanding	$	18,318,943		89			$	2,316,390		11		$	18,053,059		89			$	2,243,258		11
Allowance for Credit Losses on Financing Receivables	'
	The tables below summarize the changes in the allowance for loan losses by company for the three and nine months ended February 28, 2014.
		Three Months Ended February 28, 2014
	(Dollars in thousands)	CFC			RTFC			NCSC			Total
	Balance as of November 30, 2013	$	42,762		$	7,859		$	4,578		$	55,199
	Provision for (recovery of) loan losses		1,543			-2,450			1,694			787
	Charge-offs		-			-			-			-
	Recoveries of loans previously charged-off		54			-			-			54
	Balance as of February 28, 2014	$	44,359		$	5,409		$	6,272		$	56,040
		Three Months Ended February 28, 2013
	(Dollars in thousands)	CFC			RTFC			NCSC			Total
	Balance as of November 30, 2012	$	133,578		$	8,314		$	6,845		$	148,737
	Provision for (recovery of) loan losses		432			-214			-596			-378
	Recoveries of loans previously charged-off		52			-			-			52
	Balance as of February 28, 2013	$	134,062		$	8,100		$	6,249		$	148,411
		Nine Months Ended February 28, 2014
	(Dollars in thousands)	CFC			RTFC			NCSC			Total
	Balance as of May 31, 2013	$	41,246		$	9,158		$	3,921		$	54,325
	Provision for (recovery of) loan losses		2,953			-2,143			2,351			3,161
	Charge-offs		-			-1,606			-			-1,606
	Recoveries of loans previously charged-off		160			-			-			160
	Balance as of February 28, 2014	$	44,359		$	5,409		$	6,272		$	56,040
		Nine Months Ended February 28, 2013
	(Dollars in thousands)	CFC			RTFC			NCSC			Total
	Balance as of May 31, 2012	$	126,941		$	8,562		$	7,823		$	143,326
	Provision for (recovery of) loan losses		6,963			-462			-1,574			4,927
	Recoveries of loans previously charged-off		158			-			-			158
	Balance as of February 28, 2013	$	134,062		$	8,100		$	6,249		$	148,411
	The tables below present the loan loss allowance and the recorded investment in outstanding loans by impairment methodology and by company:
		February 28, 2014
	(Dollars in thousands)	CFC			RTFC			NCSC			Total
	Ending balance of the allowance:
	Collectively evaluated	$	44,359		$	4,950		$	6,217		$	55,526
	Individually evaluated		-			459			55			514
	Total ending balance of the allowance	$	44,359		$	5,409		$	6,272		$	56,040
	Recorded investment in loans:
	Collectively evaluated	$	19,387,962		$	450,097		$	778,845		$	20,616,904
	Individually evaluated		12,584			5,395			450			18,429
	Total recorded investment in loans (1)	$	19,400,546		$	455,492		$	779,295		$	20,635,333
	Loans to members, net (1)	$	19,356,187		$	450,083		$	773,023		$	20,579,293
		May 31, 2013
	(Dollars in thousands)	CFC			RTFC			NCSC			Total
	Ending balance of the allowance:
	Collectively evaluated	$	41,246		$	5,731		$	3,921		$	50,898
	Individually evaluated		-			3,427			-			3,427
	Total ending balance of the allowance	$	41,246		$	9,158		$	3,921		$	54,325
	Recorded investment in loans:
	Collectively evaluated	$	18,967,864		$	492,862		$	773,141		$	20,233,867
	Individually evaluated		51,953			10,497			-			62,450
	Total recorded investment in loans (1)	$	19,019,817		$	503,359		$	773,141		$	20,296,317
	Loans to members, net (1)	$	18,978,571		$	494,201		$	769,220		$	20,241,992
	(1) Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
Impaired Financing Receivable with Related Allowance Recorded Investment	'
	Our recorded investment in individually-impaired loans and the related specific valuation allowance is summarized below by member class:
		February 28, 2014						31-May-13
	(Dollars in thousands)	Recorded			Related			Recorded			Related
		Investment			Allowance			Investment			Allowance
	With no specific allowance recorded:
	CFC/Distribution	$	7,584		$	-		$	46,953		$	-
	CFC/Power Supply		5,000			-			5,000			-
	RTFC		3,580			-			-			-
	Total		16,164			-			51,953			-
	With a specific allowance recorded:
	NCSC		450			55
	RTFC		1,815			459			10,497			3,427
	Total		2,265			514			10,497			3,427
	Total impaired loans	$	18,429		$	514		$	62,450		$	3,427
Impaired Financing Receivable Average Recorded Investment and Interest Income Recognized	'
	The table below represents the average recorded investment in impaired loans and the interest income recognized by member class:
		Three Months Ended February 28,
		2014			2013			2014			2013
	(Dollars in thousands)	Average Recorded Investment						Interest Income Recognized
	CFC/Distribution	$	7,584		$	70,111		$	-		$	435
	CFC/Power Supply		5,000			5,000			-			-
	NCSC		454			-			-			-
	RTFC		5,527			6,497			-			-
	Total impaired loans	$	18,565		$	81,608		$	-		$	435
		Nine Months Ended February 28,
		Average Recorded Investment						Interest Income Recognized
	(Dollars in thousands)	2014			2013			2014			2013
	CFC/Distribution	$	11,939		$	208,632		$	136		$	13,522
	CFC/Power Supply		5,000			5,000			-			-
	NCSC		151			-			-			-
	RTFC		7,735			6,668			-			-
	Total impaired loans	$	24,825		$	220,300		$	136		$	13,522
Schedule of Loans and Leases Receivable Impaired Interest Reduced on Nonaccrual Loans	'
	Foregone interest income as a result of holding loans on non-accrual status:
		Three Months Ended						Nine Months Ended
		February 28,						February 28,
	(Dollars in thousands)	2014			2013			2014			2013
	Nonperforming loans	$	120		$	355		$	440		$	1,135
	Restructured loans		122			-			367			-
	Total	$	242		$	355		$	807		$	1,135
Schedule of Financing Receivables Pledged as Collateral Against Debt Instruments	'
	The following table summarizes our loans outstanding as collateral pledged to secure our collateral trust bonds, Clean Renewable Energy Bonds and notes payable to the Federal Agricultural Mortgage Corporation and the amount of the corresponding debt outstanding (see Note 5, Short-Term Debt and Credit Arrangements and Note 6, Long-Term Debt).
	(Dollars in thousands)	February 28, 2014			May 31, 2013
	Collateral trust bonds:
	2007 indenture
	Distribution system mortgage notes	$	5,454,096		$	5,674,804
	RUS guaranteed loans qualifying as permitted investments		162,509			165,823
	Total pledged collateral	$	5,616,605		$	5,840,627
	Collateral trust bonds outstanding		5,179,372			4,679,372
	1994 indenture
	Distribution system mortgage notes	$	1,567,122		$	1,641,858
	Collateral trust bonds outstanding		1,310,000			1,465,000
	Federal Agricultural Mortgage Corporation:
	Distribution and power supply system mortgage notes	$	1,784,959		$	1,795,947
	Notes payable outstanding		1,523,032			1,542,474
	Clean Renewable Energy Bonds Series 2009A:
	Distribution and power supply system mortgage notes	$	21,932		$	23,536
	Cash		7,221			7,634
	Total pledged collateral	$	29,153		$	31,170
	Notes payable outstanding		18,230			19,888
	The following table shows the collateral on deposit and the amount of the corresponding debt outstanding:
	(Dollars in thousands)	February 28, 2014			May 31, 2013
	Federal Financing Bank
	Distribution and power supply system mortgage notes on deposit	$	4,387,115		$	3,903,786
	Notes payable outstanding		3,999,000			3,674,000

Foreclosed_Assets_Tables

Foreclosed Assets (Tables)	9 Months Ended
	Feb. 28, 2014
Foreclosed Assets	'
Schedule of Foreclosed Assets Roll Forward	'
	The activity for foreclosed assets is summarized below:
		Nine Months Ended February 28, 2014
	(Dollars in thousands)	CAH		DRP		Total
	Balance as of May 31, 2013	$	248,049	$	13,423	$	261,472
	Results of operations		-7,853		-629		-8,482
	Cash investments (proceeds)		7,410		-5,250		2,160
	Balance as of February 28, 2014	$	247,606	$	7,544	$	255,150

ShortTerm_Debt_and_Credit_Arra1

Short-Term Debt and Credit Arrangements (Tables)	9 Months Ended
	Feb. 28, 2014
Short-Term Debt and Credit Arrangements	'
Schedule of Debt	'
	The following is a summary of short-term debt outstanding:
	(Dollars in thousands)	February 28,			May 31,
		2014			2013
	Short-term debt:
	Commercial paper sold through dealers, net of discounts (1)	$	2,611,744		$	2,009,884
	Commercial paper sold directly to members, at par (1)		916,675			812,141
	Commercial paper sold directly to non-members, at par (1)		20,160			39,298
	Select notes		496,031			358,390
	Daily liquidity fund notes sold directly to members		590,724			680,419
	Bank bid notes		150,000			150,000
	Subtotal short-term debt		4,785,334			4,050,132
	Long-term debt maturing within one year:
	Medium-term notes sold through dealers		270,282			989,607
	Medium-term notes sold to members		365,845			391,318
	Secured collateral trust bonds		854,605			1,504,949
	Loan and guarantees subordinated certificates		53,370			37,176
	Member capital securities		181,480			-
	Secured notes payable		27,174			742,402
	Unsecured notes payable		3,897			3,899
	Total long-term debt maturing within one year		1,756,653			3,669,351
	Total short-term debt	$	6,541,987		$	7,719,483
	(1) Backup liquidity is provided by our revolving credit agreements.
Schedule of Line of Credit Facilities	'
	The following table presents the total available and the outstanding letters of credit under our revolving credit agreements:
		Total Available					Letters of Credit Outstanding
	(Dollars in thousands)	February 28,			May 31,		February 28,		May 31,		Maturity	Facility Fee
		2014			2013		2014		2013			Per Year (1)
	Three-year agreement	$	219,000		$	219,000	$	-	$	-	21-Mar-14	15 basis points
	Three-year agreement		1,036,000			916,000		-		-	28-Oct-16	10 basis points
	Four-year agreement		1,122,500			1,007,500		-		-	28-Oct-17	10 basis points
	Five-year agreement		1,065,609			954,012		1,891		3,488	28-Oct-18	10 basis points
	Total		3,443,109		$	3,096,512	$	1,891	$	3,488
	(1) Facility fee determined by CFC’s senior unsecured credit ratings based on the pricing schedules put in place at the inception of the related agreement.
Schedule of Line of Credit Facility Covenants	'
	The following represents our required and actual financial ratios under the revolving credit agreements:
			Actual
		Requirement		February 28, 2014		May 31, 2013
	Minimum average adjusted TIER over the six most recent fiscal quarters (1)	1.025		1.28		1.27
	Minimum adjusted TIER for the most recent fiscal year (1) (2)	1.05		1.29		1.29
	Maximum ratio of adjusted senior debt to total equity (1)	10		5.92		5.85
	(1) In addition to the adjustments made to the leverage ratio set forth in the Non-GAAP Financial Measures section, senior debt excludes guarantees to member systems that have certain investment-grade ratings from Moody’s Investors Service and Standard & Poor’s Corporation. The TIER and debt-to-equity calculations include the adjustments set forth in the Non-GAAP Financial Measures section and exclude the results of operations for CAH.
	(2) We must meet this requirement to retire patronage capital.

LongTerm_Debt_Tables

Long-Term Debt (Tables)	9 Months Ended
	Feb. 28, 2014
Debt Instruments [Abstract]	'
Schedule of Long-term Debt Instruments	'
	The following is a summary of long-term debt outstanding:
	(Dollars in thousands)	February 28,		May 31,
		2014		2013
	Unsecured long-term debt:
	Medium-term notes sold through dealers	$	1,783,171	$	1,528,424
	Medium-term notes sold to members		119,098		182,790
	Subtotal		1,902,269		1,711,214
	Unamortized discount		-616		-627
	Total unsecured medium-term notes		1,901,653		1,710,587
	Unsecured notes payable		4,032,167		3,709,074
	Unamortized discount		-796		-920
	Total unsecured notes payable		4,031,371		3,708,154
	Total unsecured long-term debt		5,933,024		5,418,741
	Secured long-term debt:
	Collateral trust bonds		5,634,372		4,639,372
	Unamortized discount		-178,564		-181,640
	Total secured collateral trust bonds		5,455,808		4,457,732
	Secured notes payable		1,514,088		819,960
	Total secured long-term debt		6,969,896		5,277,692
	Total long-term debt	$	12,902,920	$	10,696,433

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	9 Months Ended
	Feb. 28, 2014
Derivative Financial Instruments	'
Schedule of Derivative Instruments	'
	The following table shows the notional amounts outstanding and the weighted-average rate paid and received for our interest rate swaps by type:
		February 28, 2014							May 31, 2013
	(Dollars in thousands)	Notional		Weighted-		Weighted-				Notional		Weighted-		Weighted-
		Amount		Average		Average				amount		Average		Average
				Rate Paid		Rate Received						Rate Paid		Rate Received
	Pay fixed-receive variable	$	5,172,809	3.36	%	0.22	%		$	5,287,889		3.39	%	0.26	%
	Pay variable-receive fixed		3,124,000	0.86		3.62				3,500,440		1.12		4.62
	Total interest rate swaps	$	8,296,809	2.42		1.5			$	8,788,329		2.49		2
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	'
	Gains and losses recorded on the condensed consolidated statements of operations for our interest rate swaps are summarized below:
		Three Months Ended					Nine Months Ended
		February 28,					February 28,
	(Dollars in thousands)	2014		2013			2014			2013
	Derivative cash settlements	$	-18,788	$	-14,607		$	-54,944		$	-43,926
	Derivative forward value		-12,835		61,233			98,925			62,194
	Derivative (losses) gains	$	-31,623	$	46,626		$	43,981		$
Disclosure of Credit Derivatives	'
	At February 28, 2014, our senior unsecured credit ratings from Moody’s Investors Service and Standard & Poor’s Corporation were A2 and A, respectively. At February 28, 2014, both Moody’s Investors Service and Standard & Poor’s Corporation had our ratings on stable outlook.
	(Dollars in thousands)	Notional		Our Required			Amount We			Net
		Amount		Payment			Would Collect			Total
	Mutual rating trigger if ratings:
	fall to Baa1/BBB+ (1)	$	-	$	-		$	-		$	-
	fall below Baa1/BBB+ (1)		6,576,953		-160,733			75,860			-84,873
	Total	$	6,576,953	$	-160,733		$	75,860		$	-84,873
	(1) Stated senior unsecured credit ratings are for Moody’s Investors Service and Standard & Poor’s Corporation, respectively. Under these rating triggers, if the credit rating for either counterparty falls to the level specified in the agreement, the other counterparty may, but is not obligated to, terminate the agreement. If either counterparty terminates the agreement, a net payment may be due from one counterparty to the other based on the fair value, excluding credit risk, of the underlying derivative instrument.
Offsetting Assets and Liabilities	'
	The following table provides information on the gross fair value of derivative assets and liabilities and the gross amounts that are not offset in the condensed consolidated balance sheets.
		February 28, 2014
		Gross Amounts		Gross			Net Amounts of			Gross Amounts
							Assets/			Not Offset in the
							Liabilities			Balance Sheet
	(Dollars in thousands)	of Recognized		Amounts			Presented			Financial			Cash			Net
		Assets/		Offset in the			in the			Instruments			Collateral			Amount
		Liabilities		Balance Sheet			Balance Sheet						Pledged
	Assets:
	Derivatives - Interest rate swaps	$	261,598	$	-		$	261,598		$	193,733		$	-		$	67,865
	Liabilities:
	Derivatives - Interest rate swaps		380,518		-			380,518			193,733			-			186,785
		May 31, 2013
		Gross Amounts		Gross			Net Amounts of			Gross Amounts
							Assets/			Not Offset in the
							Liabilities			Balance Sheet
	(Dollars in thousands)	of Recognized		Amounts			Presented			Financial			Cash			Net
		Assets/		Offset in the			in the			Instruments			Collateral			Amount
		Liabilities		Balance Sheet			Balance Sheet						Pledged
	Assets:
	Derivatives - Interest rate swaps	$	257,878	$	-		$	257,878		$	203,161		$	-		$	54,717
	Liabilities:
	Derivatives - Interest rate swaps		475,278		-			475,278			203,161			-			272,117

Guarantees_Tables

Guarantees (Tables)	9 Months Ended
	Feb. 28, 2014
Guarantees	'
Schedule of Guarantor Obligations	'
	The following table summarizes total guarantees by type of guarantee and member class:
	(Dollars in thousands)	February 28,			May 31,
		2014			2013
	Total by type:
	Long-term tax-exempt bonds	$	519,185		$	547,970
	Letters of credit		472,008			447,683
	Other guarantees		115,018			117,118
	Total	$	1,106,211		$	1,112,771
	Total by member class:
	CFC:
	Distribution	$	209,336		$	245,265
	Power supply		801,785			810,900
	Statewide and associate		5,488			6,948
	CFC total		1,016,609			1,063,113
	RTFC		2,304			3,711
	NCSC		87,298			45,947
	Total	$	1,106,211		$	1,112,771
Schedule of Activity in Guarantee Liability Account	'
	Activity in the guarantee liability account is summarized below:
	(Dollars in thousands)	Nine Months Ended
		February 28, 2014
	Beginning balance as of May 31, 2013	$	24,742
	Net change in non-contingent liability		-1,729
	Provision for contingent guarantee liability		159
	Ending balance as of February 28, 2014	$	23,172
	Liability as a percentage of total guarantees		2.09	%

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)	9 Months Ended
	Feb. 28, 2014
Fair Value Measurement	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	'
	The following table presents our assets and liabilities that are measured at fair value on a recurring basis:
		February 28, 2014				May 31, 2013
	(Dollars in thousands)	Level 1		Level 2		Level 1		Level 2
	Derivative assets	$	-	$	261,598	$	-	$	257,878
	Derivative liabilities		-		380,518		-		475,278
	Investments in common and preferred stock		28,702		-		31,632		-
	Deferred compensation investments		4,035		-		3,716		-
Fair Value Measurements, Nonrecurring	'
	The following table provides the carrying/fair value of the related individual assets at February 28, 2014 and May 31, 2013:
		Level 3 Fair Value
	(Dollars in thousands)	February 28,		May 31,
		2014		2013
	Nonperforming loans, net of specific reserves	$	10,331	$	12,070

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Feb. 28, 2014
Fair Value of Financial Instruments	'
Fair Value, by Balance Sheet Grouping	'
	Carrying and fair values for our financial instruments are presented as follows:
		February 28, 2014				May 31, 2013
	(Dollars in thousands)	Carrying value		Fair Value		Carrying Value		Fair Value
	Assets:
	Cash and cash equivalents	$	842,915	$	842,915	$	177,062	$	177,062
	Restricted cash		7,256		7,256		7,696		7,696
	Investments		28,702		28,702		31,632		31,632
	Time deposits		700,000		700,000		700,000		700,000
	Deferred compensation investments		4,035		4,035		3,716		3,716
	Loans to members, net		20,589,024		21,015,784		20,251,549		21,318,406
	Debt service reserve funds		39,353		39,353		39,803		39,803
	Derivative instruments		261,598		261,598		257,878		257,878
	Liabilities:
	Short-term debt		6,541,987		6,547,673		7,719,483		7,751,021
	Long-term debt		12,902,920		14,079,914		10,696,433		12,156,097
	Guarantee liability		23,172		26,061		24,742		27,730
	Derivative instruments		380,518		380,518		475,278		475,278
	Subordinated deferrable debt		400,000		372,200		400,000		404,300
	Members’ subordinated certificates		1,486,965		1,486,965		1,729,226		1,880,672
	Off-balance sheet instruments:
	Commitments		-		-		-		-

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Feb. 28, 2014
Segment Information	'
Schedule of Segment Reporting Information, by Segment	'
	The following tables contain the segment presentation for the condensed consolidated statements of operations for the three and nine months ended February 28, 2014 and 2013 and condensed consolidated balance sheets at February 28, 2014 and 2013.
		Three Months Ended February 28, 2014
	(Dollars in thousands)	CFC		Other		Elimination		Consolidated
	Statement of operations:
	Interest income	$	234,927	$	12,613	$	-8,808	$	238,732
	Interest expense		-163,157		-9,185		8,808		-163,534
	Net interest income		71,770		3,428		-		75,198
	Provision for loan losses		-787		-		-		-787
	Net interest income after provision for loan losses		70,983		3,428		-		74,411
	Non-interest income:
	Fee and other income		5,127		374		201		5,702
	Derivative losses		-30,808		-815		-		-31,623
	Results of operations from foreclosed assets		-1,164		-		-		-1,164
	Total non-interest income		-26,845		-441		201		-27,085
	Non-interest expense:
	General and administrative expenses		-14,477		-2,505		-201		-17,183
	Provision for guarantee liability		-117		-		-		-117
	Losses on early extinguishment of debt		-1,452		-		-		-1,452
	Other		210		-		-		210
	Total non-interest expense		-15,836		-2,505		-201		-18,542
	Income prior to income taxes		28,302		482		-		28,784
	Income tax expense		-		-243		-		-243
	Net income	$	28,302	$	239	$	-	$	28,541
		Three Months Ended February 28, 2013
	(Dollars in thousands)	CFC		Other		Elimination		Consolidated
	Statement of operations:
	Interest income	$	230,039	$	13,971	$	-9,989	$	234,021
	Interest expense		-171,491		-10,395		9,987		-171,899
	Net interest income		58,548		3,576		-2		62,122
	Recovery of loan losses		378		-		-		378
	Net interest income after recovery of loan losses		58,926		3,576		-2		62,500
	Non-interest income:
	Fee and other income		6,229		335		-227		6,337
	Derivative gains (losses)		44,954		1,690		-18		46,626
	Results of operations from foreclosed assets		6,478		-		-		6,478
	Total non-interest income		57,661		2,025		-245		59,441
	Non-interest expense:
	General and administrative expenses		-27,638		-2,870		229		-30,279
	Recovery of guarantee liability		46		-		-		46
	Other		-572		-		18		-554
	Total non-interest expense		-28,164		-2,870		247		-30,787
	Income prior to income taxes		88,423		2,731		-		91,154
	Income tax expense		-		-1,067		-		-1,067
	Net income	$	88,423	$	1,664	$	-	$	90,087
		Nine Months Ended February 28, 2014
	(Dollars in thousands)	CFC		Other		Elimination		Consolidated
	Statement of operations:
	Interest income	$	707,758	$	37,958	$	-26,659	$	719,057
	Interest expense		-495,357		-27,766		26,659		-496,464
	Net interest income		212,401		10,192		-		222,593
	Provision for loan losses		-3,161		-		-		-3,161
	Net interest income after provision for loan losses		209,240		10,192		-		219,432
	Non-interest income:
	Fee and other income		13,314		1,068		601		14,983
	Derivative gains		43,543		438		-		43,981
	Results of operations from foreclosed assets		-8,482		-		-		-8,482
	Total non-interest income		48,375		1,506		601		50,482
	Non-interest expense:
	General and administrative expenses		-47,140		-6,630		-601		-54,371
	Provision for guarantee liability		-159		-		-		-159
	Losses on early extinguishment of debt		-1,452		-		-		-1,452
	Other		-89		1		-		-88
	Total non-interest expense		-48,840		-6,629		-601		-56,070
Income prior to income taxes		208,775		5,069		-		213,844
Income tax expense		-		-2,045		-		-2,045
Net income	$	208,775	$	3,024	$	-	$	211,799
Assets:
Total loans outstanding	$	20,605,354	$	1,234,787	$	-1,204,808	$	20,635,333
Deferred origination costs		9,731		-		-		9,731
Less: Allowance for loan losses		-56,040		-		-		-56,040
Loans to members, net		20,559,045		1,234,787		-1,204,808		20,589,024
Other assets		2,492,657		145,847		-120,199		2,518,305
Total assets	$	23,051,702	$	1,380,634	$	-1,325,007	$	23,107,329
	Nine Months Ended February 28, 2013
(Dollars in thousands)	CFC		Other		Elimination		Consolidated
Statement of operations:
Interest income	$	703,721	$	42,304	$	-30,289	$	715,736
Interest expense		-521,525		-31,558		30,287		-522,796
Net interest income		182,196		10,746		-2		192,940
Provision for loan losses		-4,927		-		-		-4,927
Net interest income after provision for loan losses		177,269		10,746		-2		188,013
Non-interest income:
Fee and other income		28,762		1,021		-681		29,102
Derivative (gains) losses		18,518		-232		-18		18,268
Results of operations from foreclosed assets		804		-		-		804
Total non-interest income		48,084		789		-699		48,174
Non-interest expense:
General and administrative expenses		-59,935		-7,648		683		-66,900
Recovery of guarantee liability		147		-		-		147
Other		-5,119		-		18		-5,101
Total non-interest expense		-64,907		-7,648		701		-71,854
Income prior to income taxes		160,446		3,887		-		164,333
Income tax expense		-		-1,519		-		-1,519
Net income	$	160,446	$	2,368	$	-	$	162,814
Assets:
Total loans outstanding	$	19,445,360	$	1,245,392	$	-1,213,018	$	19,477,734
Deferred origination costs		8,414		-		-		8,414
Less: Allowance for loan losses		-148,411		-		-		-148,411
Loans to members, net		19,305,363		1,245,392		-1,213,018		19,337,737
Other assets		2,133,425		151,832		-124,793		2,160,464
Total assets	$	21,438,788	$	1,397,224	$	-1,337,811	$	21,498,201

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014		Feb. 28, 2013		Feb. 28, 2014		Feb. 28, 2013
Components of interest income	'		'		'		'
Interest on investments	$1,932		$1,864		$5,685		$4,378
Fee income	3,054	[1]	1,841	[1]	8,224	[1]	5,745	[1]
Total interest income	238,732		234,021		719,057		715,736
Long-term fixed-rate loans	'		'		'		'
Components of interest income	'		'		'		'
Total interest income	220,227		216,716		666,762		652,903
Long-term variable-rate loans	'		'		'		'
Components of interest income	'		'		'		'
Total interest income	5,217		5,203		14,871		16,121
Line of credit loans	'		'		'		'
Components of interest income	'		'		'		'
Total interest income	8,302		7,961		23,379		23,066
Restructured loans	'		'		'		'
Components of interest income	'		'		'		'
Total interest income	$0		$436		$136		$13,523
[1]	Primarily related to conversion fees that are deferred and recognized using the effective interest method over the remaining original loan interest rate pricing term, except for a small portion of the total fee charged to cover administrative costs related to the conversion, which is recognized immediately.

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 1) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014		Feb. 28, 2013		Feb. 28, 2014		Feb. 28, 2013
Interest expense on debt:	'		'		'		'
Debt issuance costs	$1,806	[1]	$1,891	[1]	$5,453	[1]	$5,733	[1]
Fee expense	2,206	[2]	2,027	[2]	6,925	[2]	6,534	[2]
Total interest expense	163,534		171,899		496,464		522,796
Short-term debt	'		'		'		'
Interest expense on debt:	'		'		'		'
Interest expense on debt	1,406	[3]	1,717	[3]	4,445	[3]	5,033	[3]
Medium-term notes	'		'		'		'
Interest expense on debt:	'		'		'		'
Interest expense on debt	20,369	[3]	21,294	[3]	62,920	[3]	74,010	[3]
Collateral trust bonds	'		'		'		'
Interest expense on debt:	'		'		'		'
Interest expense on debt	76,090	[3]	84,197	[3]	227,746	[3]	247,907	[3]
Subordinated deferrable debt	'		'		'		'
Interest expense on debt:	'		'		'		'
Interest expense on debt	4,750	[3]	2,806	[3]	14,250	[3]	8,419	[3]
Subordinated certificates	'		'		'		'
Interest expense on debt:	'		'		'		'
Interest expense on debt	19,777	[3]	20,345	[3]	60,897	[3]	61,227	[3]
Long-term notes payable	'		'		'		'
Interest expense on debt:	'		'		'		'
Interest expense on debt	$37,130	[3]	$37,622	[3]	$113,828	[3]	$113,933	[3]
[1]	Includes amortization of all deferred charges related to the issuance of debt, principally underwritersb fees, legal fees, printing costs and comfort letter fees. Amortization is calculated using the effective interest method or a method approximating the effective interest method. Also includes issuance costs related to dealer commercial paper, which are recognized as incurred.
[2]	Includes various fees related to funding activities, including fees paid to banks participating in our revolving credit agreements.
[3]	Represents interest expense and the amortization of discounts on debt.

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details Textual) (USD $)	9 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	31-May-13
Variable Interest Entities	'	'	'
Loans outstanding	$20,589,024,000	$19,337,737,000	$20,251,549,000
Loans Receivable Cost of Loans Sold	106,000,000	121,000,000	'
Deferred Loan Conversion Fees	74,000,000	21,000,000	'
Decrease in Other Liabilities Due to Prior Period Misclassification	11,500,000	'	'
Consolidated variable interest entities | RTFC	'	'	'
Variable Interest Entities	'	'	'
Guarantee amount	2,000,000	'	'
Total assets including loans outstanding to members	577,000,000	'	'
Loans outstanding	455,000,000	'	'
Maximum amount committed to extend loan	4,000,000,000	'	'
Commitment outstanding	441,000,000	'	'
Loans outstanding	779,000,000	'	'
Consolidated variable interest entities | NCSC	'	'	'
Variable Interest Entities	'	'	'
Guarantee amount	121,000,000	'	'
Maximum potential exposure	128,000,000	'	'
Total assets including loans outstanding to members	804,000,000	'	'
Loans outstanding	763,000,000	'	'
Commitment outstanding	3,000,000,000	'	'
Loans outstanding	884,000,000	'	'
Credit enhancements	$121,000,000	'	'

Investments_Securities_Details

Investments Securities (Details Textual) (USD $)	Feb. 28, 2014	31-May-13
In Millions, unless otherwise specified
Federal Agricultural Mortgage Corporation Class A common stock	'	'
Investment [Line Items]	'	'
Investment at fair value	$2.10	$2.20
Unrealized gain recorded in accumulated other comprehensive income, included in common stock carrying value	1.6	1.7
Federal Agricultural Mortgage Corporation Series A preferred stock	'	'
Investment [Line Items]	'	'
Investment at fair value	27	29
Cost of purchases, included in preferred stock carrying value	30	'
Cost of purchases, included in common stock carrying value	0.5	'
Unrealized loss recorded in accumulated other comprehensive income, included in preferred stock carrying value	$3	$1

Loans_and_Commitments_Details

Loans and Commitments (Details) (USD $)	Feb. 28, 2014		Nov. 30, 2013	31-May-13		Feb. 28, 2013	Nov. 30, 2012	31-May-12
In Thousands, unless otherwise specified
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	$20,635,333	[1],[2]	'	$20,296,317	[1],[2]	$19,477,734	'	'
Deferred origination costs	9,731		'	9,557		8,414	'	'
Less: Allowance for loan losses	-56,040		-55,199	-54,325		-148,411	-148,737	-143,326
Loans to members, net	20,589,024		'	20,251,549		19,337,737	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	'		'	39,000		'	'	'
Nonperforming Financing Receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	10,845		'	15,497		'	'	'
Restructured financing receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	7,584		'	46,953		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Deferred origination costs	0	[3]	'	0	[3]	'	'	'
Less: Allowance for loan losses	0	[3]	'	0	[3]	'	'	'
Loans to members, net	13,544,658	[3]	'	13,422,748	[3]	'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	13,544,658	[2],[3]	'	13,422,748	[2],[3]	'	'	'
Unadvanced commitments | Nonperforming Financing Receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3]	'	0	[3]	'	'	'
Unadvanced commitments | Restructured financing receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3]	'	5,000	[3]	'	'	'
CFC	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	19,400,546	[1],[2]	'	19,019,817	[1],[2]	19,445,360	'	'
Deferred origination costs	9,731		'	'		8,414	'	'
Less: Allowance for loan losses	-44,359		-42,762	-41,246		-134,062	-133,578	-126,941
Loans to members, net	20,559,045		'	'		19,305,363	'	'
CFC | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	12,268,234	[2],[3]	'	12,196,431	[2],[3]	'	'	'
CFC | Distribution	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	15,186,620	[2]	'	14,941,192	[2]	'	'	'
CFC | Distribution | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	9,115,128	[2],[3]	'	8,948,826	[2],[3]	'	'	'
CFC | Power supply	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	4,149,104	[2]	'	4,007,669	[2]	'	'	'
CFC | Power supply | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	3,024,666	[2],[3]	'	3,145,518	[2],[3]	'	'	'
CFC | Statewide and associate	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	64,822	[2]	'	70,956	[2]	'	'	'
CFC | Statewide and associate | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	128,440	[2],[3]	'	102,087	[2],[3]	'	'	'
RTFC	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	455,492	[2]	'	503,359	[2]	'	'	'
RTFC | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	312,466	[2],[3]	'	317,344	[2],[3]	'	'	'
NCSC	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	779,295	[2]	'	773,141	[2]	'	'	'
NCSC | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	963,958	[2],[3]	'	908,973	[2],[3]	'	'	'
Long-term fixed-rate loans	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	18,185,111	[2]	'	17,918,268	[2]	'	'	'
Long-term fixed-rate loans | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[2],[3]	'	0	[2],[3]	'	'	'
Long-term fixed-rate loans | CFC | Restructured financing receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	7,584		'	46,953		'	'	'
Long-term fixed-rate loans | CFC | Unadvanced commitments | Restructured financing receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3]	'	0	[3]	'	'	'
Long-term fixed-rate loans | RTFC | Nonperforming Financing Receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	2,786		'	3,690		'	'	'
Long-term fixed-rate loans | RTFC | Unadvanced commitments | Nonperforming Financing Receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3]	'	0	[3]	'	'	'
Long-term variable-rate loans	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	770,883	[2]	'	782,006	[2]	'	'	'
Long-term variable-rate loans | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	4,547,813	[2],[3]	'	4,718,162	[2],[3]	'	'	'
Long-term variable-rate loans | RTFC | Nonperforming Financing Receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	2,609		'	6,807		'	'	'
Long-term variable-rate loans | RTFC | Unadvanced commitments | Nonperforming Financing Receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3]	'	0	[3]	'	'	'
Loans guaranteed by RUS	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	203,173	[2]	'	210,815	[2]	'	'	'
Loans guaranteed by RUS | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[2],[3]	'	0	[2],[3]	'	'	'
Line of credit loans	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	1,476,166	[2]	'	1,385,228	[2]	'	'	'
Line of credit loans | Unadvanced commitments	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	8,996,845	[2],[3]	'	8,704,586	[2],[3]	'	'	'
Line of credit loans | CFC | Nonperforming Financing Receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	5,000		'	5,000		'	'	'
Line of credit loans | CFC | Restructured financing receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	0	[4]	'	0	[4]	'	'	'
Line of credit loans | CFC | Unadvanced commitments | Nonperforming Financing Receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3]	'	0	[3]	'	'	'
Line of credit loans | CFC | Unadvanced commitments | Restructured financing receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	0	[3],[4]	'	5,000	[3],[4]	'	'	'
Line of credit loans | NCSC | Nonperforming Financing Receivable	'		'	'		'	'	'
Loans outstanding	'		'	'		'	'	'
Total loans outstanding	450		'	0		'	'	'
Line of credit loans | NCSC | Unadvanced commitments | Nonperforming Financing Receivable	'		'	'		'	'	'
Unadvanced commitments	'		'	'		'	'	'
Total Unadvanced commitments	$0	[3]	'	$0	[3]	'	'	'
[1]	Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
[2]	Includes nonperforming and restructured loans.
[3]	The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.
[4]	The unadvanced commitment is part of the terms outlined in the related restructure agreement. Loans advanced under these commitments would be classified as performing. Principal and interest due under these performing loans would be in addition to scheduled payments due under the restructured loan agreement.

Loans_and_Commitments_Details_

Loans and Commitments (Details 1) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Notional maturities of committed lines of credit	'	'
Total unadvanced commitments	'	$39,000
Unadvanced commitments subject to material adverse change clauses	'	'
Notional maturities of committed lines of credit	'	'
2014	19,048	'
2015	55,026	'
2016	61,000	'
2017	466,061	'
2018	861,098	'
Thereafter	786,529	'
Total unadvanced commitments	$2,248,762	$11,720,000

Loans_and_Commitments_Details_1

Loans and Commitments (Details 2) (USD $)	Feb. 28, 2014		31-May-13		Feb. 28, 2013
In Thousands, unless otherwise specified
Payment Status of Loans	'		'		'
Current	$20,626,754		$20,280,157		'
30-89 days past due	0		7,004		'
90 days or more past due	8,579	[1]	9,156	[1]	'
Total past due	8,579		16,160		'
Total financing receivables	20,635,333	[2],[3]	20,296,317	[2],[3]	19,477,734
Non-accrual loans	18,429		23,081		'
As a % of total loans	'		'		'
Current	99.96%		99.92%		'
30-89 days past due	0.00%		0.03%		'
90 days or more past due	0.04%	[1]	0.05%	[1]	'
Total past due	0.04%		0.08%		'
Total financing receivables	100.00%		100.00%		'
Non-accrual loans	0.09%		0.11%		'
RTFC	'		'		'
Payment Status of Loans	'		'		'
Current	451,913		495,040		'
30-89 days past due	0		4,163		'
90 days or more past due	3,579	[1]	4,156	[1]	'
Total past due	3,579		8,319		'
Total financing receivables	455,492	[2]	503,359	[2]	'
Non-accrual loans	5,395		10,497		'
NCSC	'		'		'
Payment Status of Loans	'		'		'
Current	779,295		773,141		'
30-89 days past due	0		0		'
90 days or more past due	0	[1]	0	[1]	'
Total past due	0		0		'
Total financing receivables	779,295	[2]	773,141	[2]	'
Non-accrual loans	450		0		'
CFC	'		'		'
Payment Status of Loans	'		'		'
Current	19,395,546		19,011,976		'
30-89 days past due	0		2,841		'
90 days or more past due	5,000	[1]	5,000	[1]	'
Total past due	5,000		7,841		'
Total financing receivables	19,400,546	[2],[3]	19,019,817	[2],[3]	19,445,360
Non-accrual loans	12,584		12,584		'
CFC | Distribution	'		'		'
Payment Status of Loans	'		'		'
Current	15,186,620		14,938,351		'
30-89 days past due	0		2,841		'
90 days or more past due	0	[1]	0	[1]	'
Total past due	0		2,841		'
Total financing receivables	15,186,620		14,941,192		'
Non-accrual loans	7,584		7,584		'
CFC | Power supply	'		'		'
Payment Status of Loans	'		'		'
Current	4,144,104		4,002,669		'
30-89 days past due	0		0		'
90 days or more past due	5,000	[1]	5,000	[1]	'
Total past due	5,000		5,000		'
Total financing receivables	4,149,104		4,007,669		'
Non-accrual loans	5,000		5,000		'
CFC | Statewide and associate	'		'		'
Payment Status of Loans	'		'		'
Current	64,822		70,956		'
30-89 days past due	0		0		'
90 days or more past due	0	[1]	0	[1]	'
Total past due	0		0		'
Total financing receivables	64,822	[3]	70,956	[3]	'
Non-accrual loans	$0		$0		'
[1]	All loans 90 days or more past due are on non-accrual status.
[2]	Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
[3]	Includes nonperforming and restructured loans.

Loans_and_Commitments_Details_2

Loans and Commitments (Details 3) (USD $)	Feb. 28, 2014		31-May-13		Feb. 28, 2013
In Thousands, unless otherwise specified
Credit Quality	'		'		'
Total loans outstanding	$20,635,333	[1],[2]	$20,296,317	[1],[2]	$19,477,734
Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	20,596,169		20,249,372		'
Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	39,164		46,945		'
RTFC	'		'		'
Credit Quality	'		'		'
Total loans outstanding	455,492	[1]	503,359	[1]	'
RTFC | Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	441,757		483,058		'
RTFC | Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	13,735		20,301		'
NCSC	'		'		'
Credit Quality	'		'		'
Total loans outstanding	779,295	[1]	773,141	[1]	'
NCSC | Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	776,981		770,419		'
NCSC | Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	2,314		2,722		'
CFC	'		'		'
Credit Quality	'		'		'
Total loans outstanding	19,400,546	[1],[2]	19,019,817	[1],[2]	19,445,360
CFC | Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	19,377,431		18,995,895		'
CFC | Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	23,115		23,922		'
CFC | Distribution	'		'		'
Credit Quality	'		'		'
Total loans outstanding	15,186,620		14,941,192		'
CFC | Distribution | Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	15,168,785		14,922,558		'
CFC | Distribution | Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	17,835		18,634		'
CFC | Power supply	'		'		'
Credit Quality	'		'		'
Total loans outstanding	4,149,104		4,007,669		'
CFC | Power supply | Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	4,144,104		4,002,669		'
CFC | Power supply | Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	5,000		5,000		'
CFC | Statewide and associate	'		'		'
Credit Quality	'		'		'
Total loans outstanding	64,822	[2]	70,956	[2]	'
CFC | Statewide and associate | Pass	'		'		'
Credit Quality	'		'		'
Total loans outstanding	64,542		70,668		'
CFC | Statewide and associate | Criticized	'		'		'
Credit Quality	'		'		'
Total loans outstanding	$280		$288		'
[1]	Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
[2]	Includes nonperforming and restructured loans.

Loans_and_Commitments_Details_3

Loans and Commitments (Details 4) (USD $)	Feb. 28, 2014		31-May-13		Feb. 28, 2013
In Thousands, unless otherwise specified
Loan Security	'		'		'
Total loans outstanding	$20,635,333	[1],[2]	$20,296,317	[1],[2]	$19,477,734
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	100.00%		100.00%		'
Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	2,316,390		2,243,258		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	11.00%		11.00%		'
Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	18,318,943		18,053,059		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	89.00%		89.00%		'
Long-term fixed-rate loans | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	1,056,607		1,046,674		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	6.00%		6.00%		'
Long-term fixed-rate loans | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	17,128,504		16,871,594		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	94.00%		94.00%		'
Long-term variable-rate loans | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	91,437		105,931		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	12.00%		14.00%		'
Long-term variable-rate loans | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	679,446		676,075		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	88.00%		86.00%		'
Loans guaranteed by RUS | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	0		0		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	0.00%		0.00%		'
Loans guaranteed by RUS | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	203,173		210,815		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	100.00%		100.00%		'
Line of credit loans | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	1,168,346		1,090,653		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	79.00%		79.00%		'
Line of credit loans | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	307,820		294,575		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	21.00%		21.00%		'
CFC	'		'		'
Loan Security	'		'		'
Total loans outstanding	19,400,546	[1],[2]	19,019,817	[1],[2]	19,445,360
CFC | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	2,076,805		1,970,788		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	11.00%		10.00%		'
CFC | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	17,323,741		17,049,029		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	89.00%		90.00%		'
RTFC	'		'		'
Loan Security	'		'		'
Total loans outstanding	455,492	[2]	503,359	[2]	'
RTFC | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	19,491		20,712		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	4.00%		4.00%		'
RTFC | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	436,001		482,647		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	96.00%		96.00%		'
NCSC	'		'		'
Loan Security	'		'		'
Total loans outstanding	779,295	[2]	773,141	[2]	'
NCSC | Unsecured	'		'		'
Loan Security	'		'		'
Total loans outstanding	220,094		251,758		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	28.00%		33.00%		'
NCSC | Secured long-term debt	'		'		'
Loan Security	'		'		'
Total loans outstanding	$559,201		$521,383		'
Loans And Leases Receivable Commercial Net Of Deferred Income Percentage	72.00%		67.00%		'
[1]	Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
[2]	Includes nonperforming and restructured loans.

Loans_and_Commitments_Details_4

Loans and Commitments (Details 5) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014		Feb. 28, 2013	Feb. 28, 2014		Feb. 28, 2013	31-May-13
Activity in the loan loss allowance	'		'	'		'	'
Balance at the beginning of the period	$55,199		$148,737	$54,325		$143,326	'
Provision for (recovery of) loan losses	787		-378	3,161		4,927	'
Charge-offs	0		'	-1,606		'	'
Recoveries of loans previously charged-off	54		52	160		158	'
Balance at the end of the period	56,040		148,411	56,040		148,411	'
Ending balance of the allowance:	'		'	'		'	'
Collectively evaluated	55,526		'	55,526		'	50,898
Individually evaluated	514		'	514		'	3,427
Total ending balance of the allowance	56,040		148,411	56,040		148,411	'
Recorded investment in loans:	'		'	'		'	'
Collectively evaluated	20,616,904		'	20,616,904		'	20,233,867
Individually evaluated	18,429		'	18,429		'	62,450
Total recorded investment in loans	20,635,333	[1],[2]	19,477,734	20,635,333	[1],[2]	19,477,734	20,296,317	[1],[2]
Loans to members, net	20,579,293	[1]	'	20,579,293	[1]	'	20,241,992	[1]
RTFC	'		'	'		'	'
Activity in the loan loss allowance	'		'	'		'	'
Balance at the beginning of the period	7,859		8,314	9,158		8,562	'
Provision for (recovery of) loan losses	-2,450		-214	-2,143		-462	'
Charge-offs	0		'	-1,606		'	'
Recoveries of loans previously charged-off	0		0	0		0	'
Balance at the end of the period	5,409		8,100	5,409		8,100	'
Ending balance of the allowance:	'		'	'		'	'
Collectively evaluated	4,950		'	4,950		'	5,731
Individually evaluated	459		'	459		'	3,427
Total ending balance of the allowance	5,409		8,100	5,409		8,100	'
Recorded investment in loans:	'		'	'		'	'
Collectively evaluated	450,097		'	450,097		'	492,862
Individually evaluated	5,395		'	5,395		'	10,497
Total recorded investment in loans	455,492	[1]	'	455,492	[1]	'	503,359	[1]
Loans to members, net	450,083	[1]	'	450,083	[1]	'	494,201	[1]
NCSC	'		'	'		'	'
Activity in the loan loss allowance	'		'	'		'	'
Balance at the beginning of the period	4,578		6,845	3,921		7,823	'
Provision for (recovery of) loan losses	1,694		-596	2,351		-1,574	'
Charge-offs	0		'	0		'	'
Recoveries of loans previously charged-off	0		0	0		0	'
Balance at the end of the period	6,272		6,249	6,272		6,249	'
Ending balance of the allowance:	'		'	'		'	'
Collectively evaluated	6,217		'	6,217		'	3,921
Individually evaluated	55		'	55		'	0
Total ending balance of the allowance	6,272		6,249	6,272		6,249	'
Recorded investment in loans:	'		'	'		'	'
Collectively evaluated	778,845		'	778,845		'	773,141
Individually evaluated	450		'	450		'	0
Total recorded investment in loans	779,295	[1]	'	779,295	[1]	'	773,141	[1]
Loans to members, net	773,023	[1]	'	773,023	[1]	'	769,220	[1]
CFC	'		'	'		'	'
Activity in the loan loss allowance	'		'	'		'	'
Balance at the beginning of the period	42,762		133,578	41,246		126,941	'
Provision for (recovery of) loan losses	787		-378	3,161		4,927	'
Charge-offs	0		'	0		'	'
Recoveries of loans previously charged-off	54		52	160		158	'
Balance at the end of the period	44,359		134,062	44,359		134,062	'
Ending balance of the allowance:	'		'	'		'	'
Collectively evaluated	44,359		'	44,359		'	41,246
Individually evaluated	0		'	0		'	0
Total ending balance of the allowance	44,359		134,062	44,359		134,062	'
Recorded investment in loans:	'		'	'		'	'
Collectively evaluated	19,387,962		'	19,387,962		'	18,967,864
Individually evaluated	12,584		'	12,584		'	51,953
Total recorded investment in loans	19,400,546	[1],[2]	19,445,360	19,400,546	[1],[2]	19,445,360	19,019,817	[1],[2]
Loans to members, net	$19,356,187	[1]	'	$19,356,187	[1]	'	$18,978,571	[1]
[1]	Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
[2]	Includes nonperforming and restructured loans.

Loans_and_Commitments_Details_5

Loans and Commitments (Details 6) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013	31-May-13
Recorded investment in individually-impaired loans and the related specific valuation allowance	'	'	'	'	'
With no specific allowance recorded	$16,164	'	$16,164	'	$51,953
With a specific allowance recorded	2,265	'	2,265	'	10,497
Total impaired loans	18,429	'	18,429	'	62,450
Related allowance	0	'	0	'	0
Average recorded investment	'	'	'	'	'
Total impaired loans	18,565	81,608	24,825	220,300	'
Interest income recognized	'	'	'	'	'
Interest impaired loans	0	435	136	13,522	'
Interest income reduction as a result of holding loans on non-accrual status	'	'	'	'	'
Interest income reduced	242	355	807	1,135	'
CFC | Distribution	'	'	'	'	'
Recorded investment in individually-impaired loans and the related specific valuation allowance	'	'	'	'	'
With no specific allowance recorded	7,584	'	7,584	'	46,953
Related allowance	0	'	0	'	0
Average recorded investment	'	'	'	'	'
Total impaired loans	7,584	70,111	11,939	208,632	'
Interest income recognized	'	'	'	'	'
Interest impaired loans	0	435	136	13,522	'
CFC | Power Supply	'	'	'	'	'
Recorded investment in individually-impaired loans and the related specific valuation allowance	'	'	'	'	'
With no specific allowance recorded	5,000	'	5,000	'	5,000
Related allowance	0	'	0	'	0
Average recorded investment	'	'	'	'	'
Total impaired loans	5,000	5,000	5,000	5,000	'
Interest income recognized	'	'	'	'	'
Interest impaired loans	0	0	0	0	'
RTFC	'	'	'	'	'
Recorded investment in individually-impaired loans and the related specific valuation allowance	'	'	'	'	'
With no specific allowance recorded	3,580	'	3,580	'	0
With a specific allowance recorded	1,815	'	1,815	'	10,497
Related allowance	0	'	0	'	0
Average recorded investment	'	'	'	'	'
Total impaired loans	5,527	6,497	7,735	6,668	'
Interest income recognized	'	'	'	'	'
Interest impaired loans	0	0	0	0	'
National Cooperative Services Corporation [Member]	'	'	'	'	'
Recorded investment in individually-impaired loans and the related specific valuation allowance	'	'	'	'	'
With a specific allowance recorded	450	'	450	'	'
Related allowance	55	'	55	'	'
Average recorded investment	'	'	'	'	'
Total impaired loans	454	0	151	0	'
Interest income recognized	'	'	'	'	'
Interest impaired loans	0	0	0	0	'
Non-performing loans	'	'	'	'	'
Interest income reduction as a result of holding loans on non-accrual status	'	'	'	'	'
Interest income reduced	120	355	440	1,135	'
Restructured loans	'	'	'	'	'
Interest income reduction as a result of holding loans on non-accrual status	'	'	'	'	'
Interest income reduced	$122	$0	$367	$0	'

Loans_and_Commitments_Details_6

Loans and Commitments (Details 7) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Pledging of Loans and Loans on Deposit	'	'
Restricted cash	$7,256	$7,696
Collateral trust bonds 2007 indenture	'	'
Pledging of Loans and Loans on Deposit	'	'
Debt outstanding	5,179,372	4,679,372
Loans outstanding and pledged as collateral	5,616,605	5,840,627
Collateral trust bonds 1994 indenture	'	'
Pledging of Loans and Loans on Deposit	'	'
Debt outstanding	1,310,000	1,465,000
Notes payable | Federal Agricultural Mortgage Corporation	'	'
Pledging of Loans and Loans on Deposit	'	'
Debt outstanding	1,523,032	1,542,474
Notes payable | Federal Financing Bank	'	'
Pledging of Loans and Loans on Deposit	'	'
Debt outstanding	3,999,000	3,674,000
Clean Renewable Energy Bonds Series 2009A	'	'
Pledging of Loans and Loans on Deposit	'	'
Debt outstanding	18,230	19,888
Restricted cash	7,221	7,634
Total pledged collateral	29,153	31,170
Mortgage notes | Distribution system mortgage notes | Collateral trust bonds 2007 indenture	'	'
Pledging of Loans and Loans on Deposit	'	'
Loans outstanding and pledged as collateral	5,454,096	5,674,804
Mortgage notes | Distribution system mortgage notes | Collateral trust bonds 1994 indenture	'	'
Pledging of Loans and Loans on Deposit	'	'
Loans outstanding and pledged as collateral	1,567,122	1,641,858
Mortgage notes | Distribution and power supply system mortgage notes | Federal Agricultural Mortgage Corporation	'	'
Pledging of Loans and Loans on Deposit	'	'
Loans outstanding and pledged as collateral	1,784,959	1,795,947
Mortgage notes | Distribution and power supply system mortgage notes | Clean Renewable Energy Bonds Series 2009A	'	'
Pledging of Loans and Loans on Deposit	'	'
Loans outstanding and pledged as collateral	21,932	23,536
RUS guaranteed loans qualifying as permitted investments | Collateral trust bonds 2007 indenture	'	'
Pledging of Loans and Loans on Deposit	'	'
Loans outstanding and pledged as collateral	162,509	165,823
Mortgage notes receivable on deposit | Distribution and power supply system mortgage notes | Federal Financing Bank	'	'
Pledging of Loans and Loans on Deposit	'	'
Loans outstanding and pledged as collateral	$4,387,115	$3,903,786

Loans_and_Commitments_Details_7

Loans and Commitments (Details Textual) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Feb. 28, 2014

31-May-13

Feb. 28, 2014

Feb. 28, 2013

Feb. 28, 2014

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Nonperforming Restructure Loans [Member]

Nonperforming Restructure Loans [Member]

Nonperforming Restructure Loans [Member]

Performing Financing Receivable

Performing Financing Receivable

Commitments to Extend Credit

Commitments to Extend Credit

Commitments to Extend Credit

Commitments to Extend Credit

Unadvanced commitments subject to material adverse change clauses

Unadvanced commitments subject to material adverse change clauses

Unadvanced commitments not subject to material adverse change clauses

Unadvanced commitments not subject to material adverse change clauses

Performing Financing Receivable

Performing Financing Receivable

Financing Receivable, Recorded Investment, Past Due [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other Commitment

'

$39,000,000

'

'

'

'

'

$13,544,658,000

[1],[2]

$13,422,748,000

[1],[2]

$0

[2]

$5,000,000

[2]

$2,248,762,000

$11,720,000,000

$2,249,000,000

$1,703,000,000

Loans and Leases Receivable Commercial Net of Deferred Income Additions

'

'

'

'

'

8,000,000

47,000,000

'

'

'

'

'

'

'

'

Amount of Financing Receivable Refinanced

'

'

'

'

'

14,000,000

'

'

'

'

'

'

'

'

'

Loans and Leases Receivable Commercial, Net of Deferred Income, Percentage

100.00%

100.00%

'

'

'

0.04%

0.23%

'

'

'

'

'

'

'

'

Intercompany Loans, Description

'At February 28, 2014 and May 31, 2013, nonperforming loans totaled $11 million or 0.05 percent, of loans outstanding and $15 million or 0.08 percent, of loans outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deferred Origination Cost

10,000,000

10,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest and Other Income, Total

'

'

$0

$400,000

$100,000

'

'

'

'

'

'

'

'

'

'

[1]

Includes nonperforming and restructured loans.

[2]

The interest rate on unadvanced commitments is not set until drawn, therefore, the long-term unadvanced loan commitments have been classified in this table as variable-rate unadvanced commitments. However, at the time of the advance, the borrower may select a fixed or a variable rate on the new loan.

Foreclosed_Assets_Details

Foreclosed Assets (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014
Activity for foreclosed assets	'
Balance as of May 31, 2013	$261,472
Results of operations	-8,482
Cash investments (proceeds)	2,160
Ending balance	255,150
CAH	'
Activity for foreclosed assets	'
Balance as of May 31, 2013	248,049
Results of operations	-7,853
Cash investments (proceeds)	7,410
Ending balance	247,606
DRP	'
Activity for foreclosed assets	'
Balance as of May 31, 2013	13,423
Results of operations	-629
Cash investments (proceeds)	-5,250
Ending balance	$7,544

Foreclosed_Assets_Details_Text

Foreclosed Assets (Details Textual) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Feb. 28, 2014
Proceeds from Sale of Foreclosed Assets	$5

ShortTerm_Debt_and_Credit_Arra2

Short-Term Debt and Credit Arrangements (Details) (USD $)	Feb. 28, 2014		31-May-13
In Thousands, unless otherwise specified
Short-Term Debt Outstanding	'		'
Short Term Debt	$4,785,334		$4,050,132
Total short-term debt	6,541,987		7,719,483
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	1,756,653		3,669,351
Commercial Paper Sold Through Dealers, Net Of Discounts	'		'
Short-Term Debt Outstanding	'		'
Short Term Debt	2,611,744	[1]	2,009,884	[1]
Commercial Paper Sold Directly To Mebers At Par	'		'
Short-Term Debt Outstanding	'		'
Short Term Debt	916,675	[1]	812,141	[1]
Commercial Paper Sold Directly To Nonmebers At Par	'		'
Short-Term Debt Outstanding	'		'
Short Term Debt	20,160	[1]	39,298	[1]
Select Notes	'		'
Short-Term Debt Outstanding	'		'
Short Term Debt	496,031		358,390
Bank Bid Notes	'		'
Short-Term Debt Outstanding	'		'
Short Term Debt	150,000		150,000
Daily Liquidity Fund Notes Sold DirectlyTomember	'		'
Short-Term Debt Outstanding	'		'
Short Term Debt	590,724		680,419
Medium Term Notes Sold Through Dealers	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	270,282		989,607
Medium Term Notes Sold to Members	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	365,845		391,318
Collateral Trust Bonds	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	854,605		1,504,949
Loan and Gurantees Subordinated Certificates	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	53,370		37,176
Member Capital Securities	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	181,480		0
Secured Notes Payable	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	27,174		742,402
Unsecured Notes Payable	'		'
Long-term debt maturing within one year:	'		'
Total long-term debt maturing within one year	$3,897		$3,899
[1]	Backup liquidity is provided by our revolving credit agreements.

ShortTerm_Debt_and_Credit_Arra3

Short-Term Debt and Credit Arrangements (Details 1) (USD $)

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

Feb. 28, 2014

Feb. 28, 2014

Feb. 28, 2014

In Thousands, unless otherwise specified

Three Year Agreement Maturing On 21 March 2014

Three Year Agreement Maturing On 21 March 2014

Three-year agreement maturing on October 28, 2016

Three-year agreement maturing on October 28, 2016

Four-year agreement maturing on October 28, 2017

Four-year agreement maturing on October 28, 2017

Five-year agreement maturing on October 28, 2018

Five-year agreement maturing on October 28, 2018

Revolving credit agreements

Revolving credit agreements

Revolving credit agreements

Revolving credit agreements

Three Year Agreement Maturing On 21 March 2014

Three-year agreement maturing on October 28, 2016

Four-year agreement maturing on October 28, 2017

Five-year agreement maturing on October 28, 2018

Revolving Credit Agreements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total available

$3,443,109

$3,096,512

$219,000

$219,000

$1,036,000

$916,000

$1,122,500

$1,007,500

$1,065,609

$954,012

'

'

'

'

Letters of credit outstanding

$1,891

$3,488

$0

$0

$0

$0

$0

$0

$1,891

$3,488

'

'

'

'

Facility fee per year

'

'

'

'

'

'

'

'

'

'

'15 basis points

[1]

'10 basis points

[1]

'10 basis points

[1]

'10 basis points

[1]

[1]

Facility fee determined by CFCbs senior unsecured credit ratings based on the pricing schedules put in place at the inception of the related agreement.

ShortTerm_Debt_and_Credit_Arra4

Short-Term Debt and Credit Arrangements (Details 2)	9 Months Ended		12 Months Ended
	Feb. 28, 2014		31-May-13
Requirement	'		'
Minimum average adjusted TIER over the six most recent fiscal quarters	1.025	[1]	'
Minimum adjusted TIER for the most recent fiscal year	1.05	[1],[2]	'
Maximum ratio of adjusted senior debt to total equity	10	[1]	'
Actual	'		'
Minimum average adjusted TIER over the six most recent fiscal quarters	1.28	[1]	1.27	[1]
Minimum adjusted TIER for the most recent fiscal year	1.29	[1],[2]	1.29	[1],[2]
Maximum ratio of adjusted senior debt to total equity	5.92	[1]	5.85	[1]
[1]	In addition to the adjustments made to the leverage ratio set forth in the Non-GAAP Financial Measures section, senior debt excludes guarantees to member systems that have certain investment-grade ratings from Moodybs Investors Service and Standard & Poorbs Corporation. The TIER and debt-to-equity calculations include the adjustments set forth in the Non-GAAP Financial Measures section and exclude the results of operations for CAH.
[2]	We must meet this requirement to retire patronage capital.

ShortTerm_Debt_and_Credit_Arra5

Short-Term Debt and Credit Arrangements (Details Textual) (USD $)	Feb. 28, 2014	31-May-13	Oct. 28, 2013	Oct. 28, 2013	Oct. 28, 2013	Feb. 28, 2014	31-May-13
			Three-year agreement maturing on October 28, 2016	Four-year agreement maturing on October 28, 2017	Five-year agreement maturing on October 28, 2018	Revolving credit agreements	Revolving credit agreements
Maximum borrowing capacity lines of credit	'	'	$1,006,000,000	$1,088,000,000	$1,033,000,000	$3,445,000,000	$3,100,000,000
Maximum borrowing capacity letters of credit	'	'	'	'	'	100,000,000	'
Line of Credit Facility, Amount Outstanding	$0	$0	'	'	'	'	'

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Long-term debt	'	'
Total long-term debt	$12,902,920	$10,696,433
Unsecured long-term debt	'	'
Long-term debt	'	'
Total long-term debt	5,933,024	5,418,741
Unsecured medium-term notes	'	'
Long-term debt	'	'
Long-term debt before unamortized discount	1,902,269	1,711,214
Unamortized discount	-616	-627
Total long-term debt	1,901,653	1,710,587
Medium-term notes sold through dealers	'	'
Long-term debt	'	'
Long-term debt before unamortized discount	1,783,171	1,528,424
Medium-term notes sold to members	'	'
Long-term debt	'	'
Long-term debt before unamortized discount	119,098	182,790
Unsecured notes payable	'	'
Long-term debt	'	'
Long-term debt before unamortized discount	4,032,167	3,709,074
Unamortized discount	-796	-920
Total long-term debt	4,031,371	3,708,154
Secured long-term debt	'	'
Long-term debt	'	'
Total long-term debt	6,969,896	5,277,692
Collateral trust bonds	'	'
Long-term debt	'	'
Long-term debt before unamortized discount	5,634,372	4,639,372
Unamortized discount	-178,564	-181,640
Total long-term debt	5,455,808	4,457,732
Secured notes payable	'	'
Long-term debt	'	'
Total long-term debt	$1,514,088	$819,960

LongTerm_Debt_Details_Textual

Long-Term Debt (Details Textual) (USD $)

Feb. 28, 2014

31-May-13

Nov. 30, 2013

Feb. 28, 2014

31-May-13

Jun. 30, 2013

Nov. 30, 2013

Dec. 16, 2013

Feb. 28, 2014

Nov. 21, 2013

Jan. 01, 2014

Jan. 01, 2014

Feb. 28, 2014

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Subsequent Event [Member]

Federal Agricultural Mortgage Corporation

Federal Agricultural Mortgage Corporation

2.35% Collateral Trust Bonds Due 2020

3.4% Collateral Trust Bonds Due 2023

4.75% Collateral Trust Bonds Due March 1, 2014

Committed Loan Facilities Federal Financing Bank Loan Guarantees RUS

Committed Loan Facilities Federal Financing Bank Loan Guarantees RUS

1.10% Collateral Trust Bonds Due 2017

2.15% Collateral Trust Bonds Due 2019

Committed Loan Facilities

Unsecured Notes Payable

Unsecured Notes Payable

Unsecured Notes Payable

Unsecured Notes Payable

Secured notes payable

Secured notes payable

Federal Financing Bank

Federal Financing Bank

Federal Financing Bank

Federal Agricultural Mortgage Corporation

Federal Agricultural Mortgage Corporation

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long Term Debt, Gross, Noncurrent

'

'

'

'

'

'

'

'

'

'

'

'

'

$4,032,167,000

$3,709,074,000

$3,999,000,000

$3,674,000,000

$1,523,000,000

$1,542,000,000

Debt Instrument Maximum Borrowing Capacity

'

'

'

3,900,000,000

'

'

'

'

'

500,000,000

'

'

'

'

'

'

'

'

'

Proceeds from Issuance of Debt

'

'

'

'

'

'

'

'

'

'

'

'

325,000,000

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

2.35%

3.40%

4.75%

'

'

1.10%

2.15%

'

'

'

'

'

'

'

Debt Instrument, Repurchased Face Amount

'

'

'

'

'

'

'

150,000,000

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Face Amount

'

'

'

'

'

'

'

600,000,000

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument Carrying Amount Issued

'

'

'

'

'

400,000,000

400,000,000

'

'

'

300,000,000

300,000,000

'

'

'

'

'

'

'

Debt Instrument, Term

'

'

'

'

'

'

'

'

'20 years

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Unused Borrowing Capacity, Amount

'

'

'

'

'

'

'

'

'

'

'

'

924,000,000

'

'

'

'

'

'

Unamortized Premium And Issuance Cost

'

'

1,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Short-term Debt, Total

4,785,334,000

4,050,132,000

'

26,000,000

741,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Debt

'

'

'

$1,497,000,000

$801,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Subordinated_Deferrable_Debt_D

Subordinated Deferrable Debt (Details Textual) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	31-May-13
4.75 percent due 2043	'	'
Subordinated Deferrable Debt	'	'
Amounts Outstanding	$400,000	$400,000
Interest rate (as a percent)	4.75%	4.75%
Subordinated Deferrable Debt	'	'
Subordinated Deferrable Debt	'	'
Amounts Outstanding	$400,000	$400,000

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	31-May-13
Interest rate swaps	'	'
Derivative Financial Instruments	'	'
Notional amount	$8,296,809	$8,788,329
Weighted-average rate paid (as a percent)	2.42%	2.49%
Weighted-average rate received (as a percent)	1.50%	2.00%
Pay fixed-receive variable	'	'
Derivative Financial Instruments	'	'
Notional amount	5,172,809	5,287,889
Weighted-average rate paid (as a percent)	3.36%	3.39%
Weighted-average rate received (as a percent)	0.22%	0.26%
Pay variable-receive fixed	'	'
Derivative Financial Instruments	'	'
Notional amount	$3,124,000	$3,500,440
Weighted-average rate paid (as a percent)	0.86%	1.12%
Weighted-average rate received (as a percent)	3.62%	4.62%

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Details 1) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Derivative Financial Instruments	'	'	'	'
Derivative forward value	'	'	$98,925	$62,194
Derivative losses	-31,623	46,626	43,981	18,268
Interest Rate Swap	'	'	'	'
Derivative Financial Instruments	'	'	'	'
Derivative cash settlements	-18,788	-14,607	-54,944	-43,926
Derivative forward value	-12,835	61,233	98,925	62,194
Derivative losses	($31,623)	$46,626	$43,981	$18,268

Derivative_Financial_Instrumen4

Derivative Financial Instruments (Details 2) (USD $)	Feb. 28, 2014		31-May-13
In Thousands, unless otherwise specified
Counterparty Group	'		'
Derivative Financial Instruments	'		'
Notional amount	$6,576,953		'
Entity's required payment	-160,733		'
Entity's amount collected	75,860		'
Entity's net payment	-84,873		'
Counterparty Group | Mutual rating trigger falls to Baa1/BBB+	'		'
Derivative Financial Instruments	'		'
Notional amount	0	[1]	'
Entity's required payment	0	[1]	'
Entity's amount collected	0	[1]	'
Entity's net payment	0	[1]	'
Counterparty Group | Mutual rating trigger falls below Baa1/BBB+	'		'
Derivative Financial Instruments	'		'
Notional amount	6,576,953	[1]	'
Entity's required payment	-160,733	[1]	'
Entity's amount collected	75,860	[1]	'
Entity's net payment	-84,873	[1]	'
Interest rate swaps	'		'
Derivative Financial Instruments	'		'
Notional amount	$8,296,809		$8,788,329
[1]	Stated senior unsecured credit ratings are for Moodybs Investors Service and Standard & Poorbs Corporation, respectively. Under these rating triggers, if the credit rating for either counterparty falls to the level specified in the agreement, the other counterparty may, but is not obligated to, terminate the agreement. If either counterparty terminates the agreement, a net payment may be due from one counterparty to the other based on the fair value, excluding credit risk, of the underlying derivative instrument.

Derivative_Financial_Instrumen5

Derivative Financial Instruments (Details 3) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Assets:	'	'
Net Amount	$261,598	$257,878
Liabilities:	'	'
Net Amount	380,518	475,278
Interest rate swaps	'	'
Assets:	'	'
Gross amounts of recognized assets	261,598	257,878
Gross amounts offset in the balance sheets	0	0
Net amounts of assets presented in the balance sheets	261,598	257,878
Gross amounts not offset in the balance sheets - Financial instruments	193,733	203,161
Gross amounts not offset in the balance sheets - Cash collateral pledged	0	0
Net Amount	67,865	54,717
Liabilities:	'	'
Gross amounts of recognized liabilities	380,518	475,278
Gross amounts offset in the balance sheets	0	0
Net amounts of liabilities presented in the balance sheets	380,518	475,278
Gross amounts not offset in the balance sheets - Financial instruments	193,733	203,161
Gross amounts not offset in the balance sheets - Cash collateral pledged	0	0
Net Amount	$186,785	$272,117

Derivative_Financial_Instrumen6

Derivative Financial Instruments (Details Textual) (Interest rate swaps, USD $)	Feb. 28, 2014	31-May-13
Derivative [Line Items]	'	'
Notional amount	$8,296,809,000	$8,788,329,000
Assets Needed to be Posted as Collateral for Immediate Settlement Aggregate Fair Value	9,000,000	'
Derivative, Net Liability Position, Aggregate Fair Value	167,000,000	'
Specific Counterparty	'	'
Derivative [Line Items]	'	'
Notional amount	$450,000,000	'

Equity_Details_Textual

Equity (Details Textual) (USD $)	9 Months Ended				1 Months Ended	9 Months Ended		1 Months Ended		12 Months Ended	1 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013	Jul. 31, 2013	Feb. 28, 2014	Feb. 28, 2013	31-May-13	Jul. 31, 2013	31-May-13	Jul. 31, 2013
			Patronage capital allocated	Patronage capital allocated	Patronage capital allocated	Members' capital reserve	Members' capital reserve	CFC	CFC	CFC	CFC
					Authorized Allocations			Cooperative educational fund	Patronage capital allocated	Patronage capital allocated	Members' capital reserve
								Authorized Allocations	Authorized Allocations	Authorized Allocations
Equity	'	'	'	'	'	'	'	'	'	'	'
Allocation of net earnings	'	'	'	'	'	'	'	$1,000,000	'	$81,000,000	$138,000,000
Retirement of net allocated earnings	$40,724,000	$35,646,000	$40,724,000	$36,075,000	$41,000,000	$0	$0	'	'	'	'
Retirement of allocated net earnings, percentage	'	'	'	'	'	'	'	'	50.00%	'	'

Guarantees_Details

Guarantees (Details) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	$1,106,211	$1,112,771
CFC	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	1,016,609	1,063,113
CFC | Distribution	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	209,336	245,265
CFC | Power supply	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	801,785	810,900
CFC | Statewide and associate	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	5,488	6,948
RTFC	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	2,304	3,711
NCSC	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	87,298	45,947
Letters of credit	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	472,008	447,683
Other guarantees	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	115,018	117,118
Long-term tax-exempt bonds	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	519,185	547,970
Long-term fixed-rate bonds | Letters of credit	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	73,000	'
Long-term variable-rate bonds | Letters of credit	'	'
Guarantees	'	'
Guarantor Obligations, Current Carrying Value	$446,000	$473,000

Guarantees_Details_1

Guarantees (Details 1) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Activity in the guarantee liability account	'	'	'	'
Beginning balance as of May 31, 2013	'	'	$24,742	'
Net change in non-contingent liability	-1,729	'	-1,729	'
Provision for contingent guarantee liability	117	-46	159	-147
Ending balance as of February 28, 2014	$23,172	'	$23,172	'
Liability as a percentage of total guarantees	2.09%	'	2.09%	'

Guarantees_Details_Textual

Guarantees (Details Textual) (USD $)	9 Months Ended
	Feb. 28, 2014	31-May-13
Guarantor Obligations [Line Items]	'	'
Guarantor Obligations, Current Carrying Value	$1,106,211,000	$1,112,771,000
Guarantee Obligations Unsecured	456,000,000	410,000,000
Guarantee Obligations Unsecured Commitment as Percentage of Total Commitment	41.00%	41.00%
Value of bonds issued under liquidity provider obligations	571,000,000	'
Guaranty Liabilities Contingent and Noncontingent	23,172,000	24,742,000
Guaranty Liabilities Contingent	2,000,000	2,000,000
Guaranty Liabilities	21,000,000	23,000,000
Letter of Credit	'	'
Guarantor Obligations [Line Items]	'	'
Maturity Period	'2024	'
Long-term variable-rate bonds	'	'
Guarantor Obligations [Line Items]	'	'
Value of bonds issued under liquidity provider obligations	446,000,000	'
Letter of Credit Secured | Letter of Credit	'	'
Guarantor Obligations [Line Items]	'	'
Guarantee Obligations Unsecured	131,000,000	'
Master Letter of Credit | Letter of Credit	'	'
Guarantor Obligations [Line Items]	'	'
Letter of Credit Facility Maximum Additional Amount Potentially Required to be Issued	168,000,000	'
Hybrid Letter of Credit | Letter of Credit	'	'
Guarantor Obligations [Line Items]	'	'
Letter of Credit Facility Commitments that Can be Used for Issuance of Letters of Credit or Line of Credit Loan	1,615,000,000	'
Letter of Credit Facility Remaining Commitment	1,262,000,000	'
Hybrid Letter of Credit Subject to Material Adverse Change Clauses | Letter of Credit	'	'
Guarantor Obligations [Line Items]	'	'
Letter of Credit Facility Commitments that Can be Used for Issuance of Letters of Credit or Line of Credit Loan	353,000,000	'
Financial guarantees	'	'
Guarantor Obligations [Line Items]	'	'
Guarantor Obligations, Current Carrying Value	472,008,000	447,683,000
Financial guarantees | Long-term variable-rate bonds	'	'
Guarantor Obligations [Line Items]	'	'
Guarantor Obligations, Current Carrying Value	446,000,000	473,000,000
Financial guarantees | Long-term fixed-rate bonds	'	'
Guarantor Obligations [Line Items]	'	'
Guarantor Obligations, Current Carrying Value	73,000,000	'
Guarantee Obligations Unsecured	120,000,000	'
Other guarantees	'	'
Guarantor Obligations [Line Items]	'	'
Guarantor Obligations, Current Carrying Value	115,018,000	117,118,000
Guarantor Obligations, Maximum Exposure, Undiscounted	116,000,000	'
Maturity Period	'2025	'
Long Term Tax Exempt Loans	'	'
Guarantor Obligations [Line Items]	'	'
Letter of Credit Obligations Liquidity Provided to Member Carrying Value	$125,000,000	'
Maturity Period	'2042	'

Fair_Value_Measurement_Details

Fair Value Measurement (Details) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Fair value of assets and liabilities	'	'
Derivative assets	$261,598	$257,878
Derivative liabilities	380,518	475,278
Level 1	'	'
Fair value of assets and liabilities	'	'
Derivative assets	0	0
Derivative liabilities	0	0
Investments in common and preferred stock	28,702	31,632
Deferred compensation investments	4,035	3,716
Level 2	'	'
Fair value of assets and liabilities	'	'
Derivative assets	261,598	257,878
Derivative liabilities	380,518	475,278
Investments in common and preferred stock	0	0
Deferred compensation investments	$0	$0

Fair_Value_Measurement_Details1

Fair Value Measurement (Details 1) (Level 3, USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Level 3	'	'
Nonperforming loans, net of specific reserves	$10,331	$12,070

Fair_Value_Measurement_Details2

Fair Value Measurement (Details Textual) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$2,313	($479)	($2,931)	$408

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Feb. 28, 2014	31-May-13
In Thousands, unless otherwise specified
Assets:	'	'
Restricted cash	$7,256	$7,696
Time deposits	700,000	700,000
Debt service reserve funds	39,353	39,803
Derivative instruments	261,598	257,878
Liabilities:	'	'
Short-term debt	6,541,987	7,719,483
Long-term debt	12,902,920	10,696,433
Derivative instruments	380,518	475,278
Subordinated deferrable debt	'	'
Liabilities:	'	'
Subordinated debt	400,000	400,000
Members' subordinated certificates	'	'
Liabilities:	'	'
Subordinated debt	1,486,965	1,729,226
Carrying value	'	'
Assets:	'	'
Cash and cash equivalents	842,915	177,062
Restricted cash	7,256	7,696
Investments	28,702	31,632
Time deposits	700,000	700,000
Deferred compensation investments	4,035	3,716
Loans to members, net	20,589,024	20,251,549
Debt service reserve funds	39,353	39,803
Derivative instruments	261,598	257,878
Liabilities:	'	'
Short-term debt	6,541,987	7,719,483
Long-term debt	12,902,920	10,696,433
Guarantee liability	23,172	24,742
Derivative instruments	380,518	475,278
Off-balance sheet instruments:	'	'
Commitments	0	0
Carrying value | Subordinated deferrable debt	'	'
Liabilities:	'	'
Subordinated debt	400,000	400,000
Carrying value | Members' subordinated certificates	'	'
Liabilities:	'	'
Subordinated debt	1,486,965	1,729,226
Fair value	'	'
Assets:	'	'
Cash and cash equivalents	842,915	177,062
Restricted cash	7,256	7,696
Investments	28,702	31,632
Time deposits	700,000	700,000
Deferred compensation investments	4,035	3,716
Loans to members, net	21,015,784	21,318,406
Debt service reserve funds	39,353	39,803
Derivative instruments	261,598	257,878
Liabilities:	'	'
Short-term debt	6,547,673	7,751,021
Long-term debt	14,079,914	12,156,097
Guarantee liability	26,061	27,730
Derivative instruments	380,518	475,278
Off-balance sheet instruments:	'	'
Commitments	0	0
Fair value | Subordinated deferrable debt	'	'
Liabilities:	'	'
Subordinated debt	372,200	404,300
Fair value | Members' subordinated certificates	'	'
Liabilities:	'	'
Subordinated debt	$1,486,965	$1,880,672

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details Textual) (USD $)

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

31-May-13

Feb. 28, 2014

Feb. 28, 2014

Subordinated Deferrable Debt

Subordinated Deferrable Debt

Subordinated certificates

Subordinated certificates

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 1

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 2

Fair Value, Inputs, Level 3

Fair Value, Inputs, Level 3

Fair Value, Inputs, Level 3

Fair Value, Inputs, Level 3

Fair Value, Inputs, Level 3

Fair Value, Inputs, Level 3

Maximum

Minimum

Subordinated Deferrable Debt

Subordinated Deferrable Debt

Commercial Paper Sold Directly to Members at Par Commercial Paper Sold Directly to Non Members at Par and Select Notes

Commercial Paper Sold Directly to Members at Par Commercial Paper Sold Directly to Non Members at Par and Select Notes

Subordinated Deferrable Debt

Subordinated Deferrable Debt

Commercial Paper Sold Directly to Members at Par Commercial Paper Sold Directly to Non Members at Par and Select Notes

Commercial Paper Sold Directly to Members at Par Commercial Paper Sold Directly to Non Members at Par and Select Notes

Collateral Trust Bonds and Medium Term Notes

Collateral Trust Bonds and Medium Term Notes

Subordinated certificates

Subordinated certificates

Notes Payable, Other Payables

Notes Payable, Other Payables

Maturity Period of Short Term Debt for which Fair Value is Estimated Based on Quoted Market Rates

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'90 days

'90 days

Cash and Cash Equivalents, Fair Value Disclosure

'

'

'

'

'

'

$843,000,000

$177,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted Cash and Cash Equivalents

7,256,000

7,696,000

'

'

'

'

7,000,000

8,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments, Fair Value Disclosure

'

'

'

'

'

'

29,000,000

32,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Time Deposits, at Carrying Value

700,000,000

700,000,000

'

'

'

'

'

'

'

'

'

'

700,000,000

700,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Subordinated Long-term Debt, Noncurrent

'

'

400,000,000

400,000,000

1,486,965,000

1,729,226,000

'

'

4,000,000

4,000,000

'

'

'

'

372,000,000

404,000,000

'

'

'

'

'

'

1,487,000,000

1,881,000,000

'

'

'

'

Loans Receivable, Fair Value Disclosure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21,016,000,000

21,318,000,000

'

'

'

'

'

'

Debt Service Reserve

39,353,000

39,803,000

'

'

'

'

39,000,000

40,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt, Current

6,541,987,000

7,719,483,000

'

'

'

'

'

'

'

'

3,353,000,000

2,840,000,000

'

'

'

'

1,433,000,000

1,210,000,000

1,495,000,000

2,912,000,000

'

'

'

'

267,000,000

789,000,000

'

'

Other Long-term Debt, Noncurrent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8,424,000,000

7,410,000,000

'

'

'

'

5,656,000,000

4,746,000,000

'

'

Guarantees, Fair Value Disclosure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

26,000,000

28,000,000

'

'

'

'

'

'

Derivative assets

261,598,000

257,878,000

'

'

'

'

0

0

'

'

'

'

261,598,000

257,878,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative liabilities

$380,518,000

$475,278,000

'

'

'

'

$0

$0

'

'

'

'

$380,518,000

$475,278,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2014		Feb. 28, 2013	Feb. 28, 2014		Feb. 28, 2013	Nov. 30, 2013	31-May-13		Nov. 30, 2012	31-May-12
Statement of operations:	'		'	'		'	'	'		'	'
Interest income	$238,732		$234,021	$719,057		$715,736	'	'		'	'
Interest expense	-163,534		-171,899	-496,464		-522,796	'	'		'	'
Net interest income	75,198		62,122	222,593		192,940	'	'		'	'
Provision for loan losses	-787		378	-3,161		-4,927	'	'		'	'
Net interest income after provision for loan losses	74,411		62,500	219,432		188,013	'	'		'	'
Non-interest income:	'		'	'		'	'	'		'	'
Fee and other income	5,702		6,337	14,983		29,102	'	'		'	'
Derivative (gains) losses	-31,623		46,626	43,981		18,268	'	'		'	'
Results of operations of foreclosed assets	-1,164		6,478	-8,482		804	'	'		'	'
Total non-interest income	-27,085		59,441	50,482		48,174	'	'		'	'
Non-interest expense:	'		'	'		'	'	'		'	'
General and administrative expenses	-17,183		-30,279	-54,371		-66,900	'	'		'	'
Provision for (recovery of) guarantee liability	-117		46	-159		147	'	'		'	'
Losses on early extinguishment of debt	-1,452		0	-1,452		0	'	'		'	'
Other	210		-554	-88		-5,101	'	'		'	'
Total non-interest expense	-18,542		-30,787	-56,070		-71,854	'	'		'	'
Income prior to income taxes	28,784		91,154	213,844		164,333	'	'		'	'
Income tax expense	-243		-1,067	-2,045		-1,519	'	'		'	'
Net income	28,541		90,087	211,799		162,814	'	'		'	'
Assets:	'		'	'		'	'	'		'	'
Total loans outstanding	20,635,333	[1],[2]	19,477,734	20,635,333	[1],[2]	19,477,734	'	20,296,317	[1],[2]	'	'
Deferred origination costs	9,731		8,414	9,731		8,414	'	9,557		'	'
Less: Allowance for loan losses	-56,040		-148,411	-56,040		-148,411	-55,199	-54,325		-148,737	-143,326
Loans to members, net	20,589,024		19,337,737	20,589,024		19,337,737	'	20,251,549		'	'
Other assets	2,518,305		2,160,464	2,518,305		2,160,464	'	'		'	'
Total assets	23,107,329		21,498,201	23,107,329		21,498,201	'	22,071,651		'	'
Other	'		'	'		'	'	'		'	'
Statement of operations:	'		'	'		'	'	'		'	'
Interest income	12,613		13,971	37,958		42,304	'	'		'	'
Interest expense	-9,185		-10,395	-27,766		-31,558	'	'		'	'
Net interest income	3,428		3,576	10,192		10,746	'	'		'	'
Provision for loan losses	0		0	0		0	'	'		'	'
Net interest income after provision for loan losses	3,428		3,576	10,192		10,746	'	'		'	'
Non-interest income:	'		'	'		'	'	'		'	'
Fee and other income	374		335	1,068		1,021	'	'		'	'
Derivative (gains) losses	-815		1,690	438		-232	'	'		'	'
Results of operations of foreclosed assets	0		0	0		0	'	'		'	'
Total non-interest income	-441		2,025	1,506		789	'	'		'	'
Non-interest expense:	'		'	'		'	'	'		'	'
General and administrative expenses	-2,505		-2,870	-6,630		-7,648	'	'		'	'
Provision for (recovery of) guarantee liability	0		0	0		0	'	'		'	'
Losses on early extinguishment of debt	0		'	0		'	'	'		'	'
Other	0		0	1		0	'	'		'	'
Total non-interest expense	-2,505		-2,870	-6,629		-7,648	'	'		'	'
Income prior to income taxes	482		2,731	5,069		3,887	'	'		'	'
Income tax expense	-243		-1,067	-2,045		-1,519	'	'		'	'
Net income	239		1,664	3,024		2,368	'	'		'	'
Assets:	'		'	'		'	'	'		'	'
Total loans outstanding	1,234,787		1,245,392	1,234,787		1,245,392	'	'		'	'
Deferred origination costs	0		0	0		0	'	'		'	'
Less: Allowance for loan losses	0		0	0		0	'	'		'	'
Loans to members, net	1,234,787		1,245,392	1,234,787		1,245,392	'	'		'	'
Other assets	145,847		151,832	145,847		151,832	'	'		'	'
Total assets	1,380,634		1,397,224	1,380,634		1,397,224	'	'		'	'
Elimination	'		'	'		'	'	'		'	'
Statement of operations:	'		'	'		'	'	'		'	'
Interest income	-8,808		-9,989	-26,659		-30,289	'	'		'	'
Interest expense	8,808		9,987	26,659		30,287	'	'		'	'
Net interest income	0		-2	0		-2	'	'		'	'
Provision for loan losses	0		0	0		0	'	'		'	'
Net interest income after provision for loan losses	0		-2	0		-2	'	'		'	'
Non-interest income:	'		'	'		'	'	'		'	'
Fee and other income	201		-227	601		-681	'	'		'	'
Derivative (gains) losses	0		-18	0		-18	'	'		'	'
Results of operations of foreclosed assets	0		0	0		0	'	'		'	'
Total non-interest income	201		-245	601		-699	'	'		'	'
Non-interest expense:	'		'	'		'	'	'		'	'
General and administrative expenses	-201		229	-601		683	'	'		'	'
Provision for (recovery of) guarantee liability	0		0	0		0	'	'		'	'
Losses on early extinguishment of debt	0		'	0		'	'	'		'	'
Other	0		18	0		18	'	'		'	'
Total non-interest expense	-201		247	-601		701	'	'		'	'
Income prior to income taxes	0		0	0		0	'	'		'	'
Income tax expense	0		0	0		0	'	'		'	'
Net income	0		0	0		0	'	'		'	'
Assets:	'		'	'		'	'	'		'	'
Total loans outstanding	-1,204,808		-1,213,018	-1,204,808		-1,213,018	'	'		'	'
Deferred origination costs	0		0	0		0	'	'		'	'
Less: Allowance for loan losses	0		0	0		0	'	'		'	'
Loans to members, net	-1,204,808		-1,213,018	-1,204,808		-1,213,018	'	'		'	'
Other assets	-120,199		-124,793	-120,199		-124,793	'	'		'	'
Total assets	-1,325,007		-1,337,811	-1,325,007		-1,337,811	'	'		'	'
CFC	'		'	'		'	'	'		'	'
Statement of operations:	'		'	'		'	'	'		'	'
Interest income	234,927		230,039	707,758		703,721	'	'		'	'
Interest expense	-163,157		-171,491	-495,357		-521,525	'	'		'	'
Net interest income	71,770		58,548	212,401		182,196	'	'		'	'
Provision for loan losses	-787		378	-3,161		-4,927	'	'		'	'
Net interest income after provision for loan losses	70,983		58,926	209,240		177,269	'	'		'	'
Non-interest income:	'		'	'		'	'	'		'	'
Fee and other income	5,127		6,229	13,314		28,762	'	'		'	'
Derivative (gains) losses	-30,808		44,954	43,543		18,518	'	'		'	'
Results of operations of foreclosed assets	-1,164		6,478	-8,482		804	'	'		'	'
Total non-interest income	-26,845		57,661	48,375		48,084	'	'		'	'
Non-interest expense:	'		'	'		'	'	'		'	'
General and administrative expenses	-14,477		-27,638	-47,140		-59,935	'	'		'	'
Provision for (recovery of) guarantee liability	-117		46	-159		147	'	'		'	'
Losses on early extinguishment of debt	-1,452		'	-1,452		'	'	'		'	'
Other	210		-572	-89		-5,119	'	'		'	'
Total non-interest expense	-15,836		-28,164	-48,840		-64,907	'	'		'	'
Income prior to income taxes	28,302		88,423	208,775		160,446	'	'		'	'
Income tax expense	0		0	0		0	'	'		'	'
Net income	28,302		88,423	208,775		160,446	'	'		'	'
Assets:	'		'	'		'	'	'		'	'
Total loans outstanding	19,400,546	[1],[2]	19,445,360	19,400,546	[1],[2]	19,445,360	'	19,019,817	[1],[2]	'	'
Deferred origination costs	9,731		8,414	9,731		8,414	'	'		'	'
Less: Allowance for loan losses	-44,359		-134,062	-44,359		-134,062	-42,762	-41,246		-133,578	-126,941
Loans to members, net	20,559,045		19,305,363	20,559,045		19,305,363	'	'		'	'
Other assets	2,492,657		2,133,425	2,492,657		2,133,425	'	'		'	'
Total assets	$23,051,702		$21,438,788	$23,051,702		$21,438,788	'	'		'	'
[1]	Excludes deferred origination costs of $10 million at February 28, 2014 and May 31, 2013.
[2]	Includes nonperforming and restructured loans.