Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 51

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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$5,558,633 $50,000 $(64,391)$28 $(80,708)$29,206 $5,492,768 

43

The following tables present additional information about the significant unobservable inputs, such as discount rates and constant prepayment rates ("CPR"), used in the fair value measurements categorized in Level 3 of the fair value hierarchy as of March 31, 2025 and December 31, 2024:Table 9.3As of March 31, 2025Financial InstrumentsFair ValueValuation TechniqueUnobservable InputRange             (Weighted-Average)(in thousands)Assets:Investment securities:Floating rate auction-rate certificates backed by Government guaranteed student loans$19,353 Indicative bidsRange of broker quotes98.4% - 98.4% (98.4%)Farmer Mac Guaranteed Securities:AgVantage$5,614,512 Discounted cash flowDiscount rate4.7% - 5.1% (4.8%)Farmer Mac Guaranteed Securities$8,872 Discounted cash flowDiscount rate8.0%CPR3%USDA Securities$651 Discounted cash flowDiscount rate5.0% - 5.2% (5.1%)CPR11% - 14% (13%)Guarantee Asset$5,297 Discounted cash flowDiscount rate8.0%CPR3%As of December 31, 2024Financial InstrumentsFair ValueValuation TechniqueUnobservable InputRange             (Weighted-Average)(in thousands)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