v3.26.3
Guarantees (Tables)
 3 Months Ended
Aug. 31, 2026
Guarantees [Abstract]  
Schedule of Total Guarantees by Type of Guarantee and Member Class
The following table displays the notional amount of our outstanding guarantee obligations, by guarantee type and by member class, as of August 31, 2026 and May 31, 2026.
Table 11.1: Guarantees Outstanding by Type and Member Class

(Dollars in thousands)August 31, 2026May 31, 2026
Guarantee type:
Long-term tax-exempt bonds(1)
$45,215 $47,100 
Letters of credit(2)
1,019,319 1,033,710 
Other guarantees184,032 184,884 
Total$1,248,566 $1,265,694 
Member class:
CFC:
Distribution$516,019 $508,383 
Power supply601,063 614,234 
Statewide and associate(3)
43,830 45,065 
Total CFC1,160,912 1,167,682 
NCSC electric
87,654 98,012 
Total$1,248,566 $1,265,694 
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(1)Represents the outstanding principal amount of long-term variable-rate guaranteed bonds.
(2)Reflects our maximum potential exposure for letters of credit, which also includes interest due, if any.
(3)Includes CFC guarantees to NCSC telecom members totaling $36 million and $37 million as of August 31, 2026 and May 31, 2026, respectively.