Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 52

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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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 June 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 June 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$— $— $19,475 $19,475 Floating rate Government/GSE guaranteed mortgage-backed securities— 2,381,977 — 2,381,977 Fixed rate GSE guaranteed mortgage-backed securities— 2,788,342 — 2,788,342 Fixed rate U.S. Treasuries1,484,237 — — 1,484,237 Total Available-for-sale Investment Securities1,484,237 5,170,319 19,475 6,674,031 Farmer Mac Guaranteed Securities:    Available-for-sale:    AgVantage— — 5,722,890 5,722,890 Farmer Mac Guaranteed Securities— — 8,613 8,613 Total Farmer Mac Guaranteed Securities— — 5,731,503 5,731,503 USDA Securities:    Trading— — 560 560 Total USDA Securities— — 560 560 Financial derivatives— 30,650 — 30,650 Guarantee Asset— — 5,141 5,141 Total Assets at fair value$1,484,237