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Discount Notes

Farm Credit Discount Notes are high credit quality, short-term debt instruments. They are issued at a discount to their par value, similar to U.S. Treasury bills. They are available in a wide range of maturity dates, providing investors the ability to match their anticipated cash flow needs, while diversifying their high quality investments.

Discount Notes are issued daily to meet the needs of the Farm Credit Banks, with consideration for investor interests, and market conditions.

Funds raised through Discount Note issuance are used by the Banks of the Farm Credit System to support rural communities and U.S. agriculture.

Discount Notes Details

Offered Daily Denomination $1,000 minimum
$1,000 increments
Program Rating F1+ Fitch
P-1 Moody's
A-1+ S&P
Settlement Cash/Regular
Risk Weighting 20% BIS Typical Index N/A
Program Maturity Range 1-365 days Day Count Actual/360
Typical Maturity Overnight-30 days Payment Frequence At maturity
Call Feature N/A Method of Issuance Window / Posted
Debt Securities