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Floating Rate Bonds

Farm Credit Floating Rate Bonds are high credit quality, variable rate bonds issued as needed by the Banks of the Farm Credit System. Farm Credit Floating Rate Bonds may be linked to SOFR, T-Bills and LIBOR. In addition, Farm Credit is the largest agency issuer of floating rate bonds linked to Fed Funds and the Prime Rate.

Floating Rate Bonds are attractive to investors as they can help manage investment risk typically associated with short-term money market instruments.

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

Floating Rate Bonds Details

Offered Farm Credit System interest conveyed daily / reverse inquiry Denomination $1,000 minimum
$1,000 increments
Program Rating F1+ Fitch
P-1 Moody's
A-1+ S&P
Settlement 5-7 business days
Risk Weighting 20% BIS Typical Index SOFR, T-Bills, Prime, Fed Funds and LIBOR
Program Maturity Range 1-30 years Day Count Actual/360, Actual/Actual (index dependent)
Typical Maturity 1-3 years Payment Frequence Monthly, Quarterly, Semi-annually
Call Feature Where applicable, notice of redemption of called bonds will be provided by the Funding Corporation on behalf of the Banks of the Farm Credit System no fewer than five business days prior to a Redemption Date. Method of Issuance Auctioned/Negotiated
Debt Securities