Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 146

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 146
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 adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships as of March 31, 2025 and December 31, 2024:Table 4.3Hedged Items in Fair Value RelationshipCarrying Amount of Hedged Assets/(Liabilities)Cumulative Amount of Fair Value Hedging Adjustments included in the Carrying Amount of the Hedged Assets/(Liabilities)March 31, 2025December 31, 2024March 31, 2025December 31, 2024(in thousands)Investment securities, Available-for-Sale, at fair value(1)$1,633,772 $1,477,880 $(83,159)$(117,137)Farmer Mac Guaranteed Securities, Available-for-Sale, at fair value(2)5,586,662 5,478,484 (225,341)(307,358)Loans held for investment, at amortized cost1,880,996 1,816,738 (327,463)(372,444)Notes Payable(3)(11,480,083)(11,899,049)74,570 148,999 (1)Amortized cost of $1.7 billion and $1.6 billion as of March 31, 2025 and December 31, 2024, respectively.(2)Amortized cost of $5.8 billion as of both March 31, 2025 and December 31, 2024.(3)Carrying amount represents amortized cost.The following tables present the fair value of financial assets and liabilities, based on the terms of Farmer Mac's master netting arrangements as of March 31, 2025 and December 31, 2024:Table 4.4March 31, 2025Gross Amount RecognizedGross Amounts offset in the Consolidated Balance SheetNet Amount Presented in the Consolidated Balance SheetGross Amounts Not Offset in the Consolidated Balance SheetNetting AdjustmentsFinancial instruments pledgedCash CollateralNet Amount(1)(in thousands)Assets:Uncleared derivatives$27,867 $— $27,867 $(23,657)$— $(4,167)$43 Cleared derivatives883 (883)— — — — — Total$28,750 $(883)$27,867 $(23,