Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 47

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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's minimum capital requirement was $917.6 million and its core capital level was $1.5 billion, which was $583.5 million above the minimum capital requirement as of that date.

In accordance with a rule of the Farm Credit Administration ("FCA") on Farmer Mac's capital planning, and as part of Farmer Mac's capital plan, Farmer Mac has adopted a policy for maintaining a sufficient level of Tier 1 capital (consisting of retained earnings, paid-in-capital, common stock, and qualifying preferred stock) and imposing restrictions on Tier 1-eligible dividends and any discretionary bonus payments in the event that this capital falls below specified thresholds. 

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9.FAIR VALUE DISCLOSURES

Fair Value Classification and TransfersThe following tables present information about Farmer Mac's assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024, respectively, and indicate the fair value hierarchy of the valuation techniques used by Farmer Mac to determine such fair value:Table 9.1Assets and Liabilities Measured at Fair Value as of March 31, 2025 Level 1Level 2Level 3(1)Total (in thousands)Recurring: Assets:    Investment Securities:    Available-for-sale:    Floating rate auction-rate certificates backed by Government guaranteed student loans$— $— $19,353 $19,353 Floating rate Government/GSE guaranteed mortgage-backed securities— 2,392,097 — 2,392,097 Fixed rate GSE guaranteed mortgage-backed securities— 2,503,912 — 2,503,912 Fixed rate U.S. Treasuries1,314,718 — — 1,314,718 Total Available-for-sale Investment Securities1,314,718 4,896,009 19,353 6,230,080 Farmer Mac Guaranteed Securities:    Available-for-sale:    AgVantage— — 5,614,512 5,614,512 Farmer Mac Guaranteed Securities— — 8,872 8,872 Total Farmer Mac Guaranteed Securities— — 5,623,384 5,623,384 USDA Securities:    Trading— — 651 651 Total USDA Securities— — 651 651 Loans:Loans held for sale, at lower of cost or