Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 58

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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)Assets:Investment securities:Floating rate auction-rate certificates backed by Government guaranteed student loans$19,476 Indicative bidsRange of broker quotes99.0% - 99.0% (99.0%)Farmer Mac Guaranteed Securities:AgVantage$5,505,531 Discounted cash flowDiscount rate5.0% - 5.5% (5.1%)Farmer Mac Guaranteed Securities$9,015 Discounted cash flowDiscount rate7.9%CPR3%USDA Securities$818 Discounted cash flowDiscount rate5.3% - 5.4% (5.3%)CPR12% - 12% (12%)Guarantee Asset$5,382 Discounted cash flowDiscount rate7.9%CPR3%The significant unobservable input used in the fair value measurements of AgVantage Farmer Mac Guaranteed Securities is the discount rate commensurate with the risks involved. Typically, significant increases (decreases) in this input in isolation may result in materially lower (higher) fair value measurements. Generally, in a rising interest rate environment, Farmer Mac would expect average discount rates to increase. Conversely, in a declining interest rate environment, Farmer Mac would expect average discount rates to decrease. CPR are not presented in the table above for AgVantage securities 

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because they generally have fixed maturity dates when the secured general obligations are due and do not prepay.Disclosures on Fair Value of Financial InstrumentsThe following table sets forth the estimated fair values and carrying values for financial assets, liabilities, and guarantees and commitments as of June 30, 2025 and December 31, 2024:Table 9.4 As of June 30, 2025As of December 31, 2024 Fair ValueCarryingAmountFair ValueCarryingAmount (in thousands)Financial assets:    Cash and cash equivalents$1,030,329 $1,030,329 $1,024,007 $1,024,007 Investment securities6,697,624 6,697,258 5,973,571 5,973,301 Farmer Mac Guaranteed Securities7,857,285 7,862,498 8,215,646 8,232,234 USDA Securities2,203,130 2,407,198 2,113,342 2,371,352 Loans14,363,