Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 197

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 197
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 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 September 30, 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 September 30, 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$— $— $19,482 $19,482 Floating rate Government/GSE guaranteed mortgage-backed securities— 2,313,850 — 2,313,850 Fixed rate Government/GSE guaranteed mortgage-backed securities— 2,846,121 — 2,846,121 Fixed rate U.S. Treasuries1,476,493 — — 1,476,493 Total Available-for-sale Investment Securities1,476,493 5,159,971 19,482 6,655,946 Farmer Mac Guaranteed Securities:    Available-for-sale:    AgVantage— — 5,845,642 5,845,642 Farmer Mac Guaranteed Securities— — 8,456 8,456 Total Farmer Mac Guaranteed Securities— — 5,854,098 5,854,098 USDA Securities:    Trading— — 456 456 Total USDA Securities— — 456 456 Financial derivatives202 32,465 — 32,667 Guarantee Asset— — 5,049 5,049 Total Assets at fair value$1,476,695 $5,192,436 $5,879,085 $12,548,216 Liabilities:    Financial derivatives$11 $29,150 $— $29,161 Total Liabilities at fair value$