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As Of Filer Filing For·On·As Docs:Size 3/26/20 Federal Agricultural Mtge Corp 8-K:7,9 3/26/20 13:506K |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 37K 2: EX-99 Miscellaneous Exhibit HTML 15K 12: R1 Cover Page HTML 59K 9: XML IDEA XML File -- Filing Summary XML 12K 13: XML XBRL Instance -- a202003268-kpressrelea_htm XML 28K 8: EXCEL IDEA Workbook of Financial Reports XLSX 7K 4: EX-101.CAL XBRL Calculations -- agm-20200326_cal XML 7K 5: EX-101.DEF XBRL Definitions -- agm-20200326_def XML 43K 6: EX-101.LAB XBRL Labels -- agm-20200326_lab XML 89K 7: EX-101.PRE XBRL Presentations -- agm-20200326_pre XML 47K 3: EX-101.SCH XBRL Schema -- agm-20200326 XSD 15K 11: JSON XBRL Instance as JSON Data -- MetaLinks 15± 21K 10: ZIP XBRL Zipped Folder -- 0000845877-20-000092-xbrl Zip 21K
Exhibit |
• | Business Continuity Plan (“BCP”): We are successfully operating
uninterrupted with 100% of employees working remotely from their homes since March 12, 2020. Our technology platform and BCP have been functioning as designed in support of all functions of the organization, and we are making frequent use of video conferencing and other technology tools to stay in communication within our organization and with our customers and suppliers. Our Board of Directors remains actively engaged in its oversight role through regular teleconference meetings, and we have worked effectively and cooperatively with our regulator (the Office of Secondary Market Oversight within the Farm Credit Administration) to provide requested information and to help ensure the continued safety and soundness of Farmer Mac. |
• | Strong
Liquidity: We have a strong capital base and continue to maintain the same disciplined asset-liability management policies and practices. Our daily access to the debt capital markets continues to be strong, although we are seeing some upward pressure on funding costs for longer-term issuances. We have been proactive in bolstering our liquidity position given the increased uncertainty in financial markets and are well above our regulatory requirements. We have increased amounts held in our short-term liquidity investment portfolio and are holding cash of approximately $1 billion, which is in excess of what we usually maintain. As another proactive measure to preserve capital and liquidity, we have indefinitely suspended repurchases under our $10 million Board-authorized stock repurchase program. |
• | Consistent
Underwriting: We are maintaining our consistent underwriting policies and guidelines for credit approvals and are closely evaluating the impact of COVID-19 on new customer applications. We continue to stress test our credit portfolio and interest rate risk levels, which remain within our policy limits. We are focused on continuing to serve our customers to help them during this difficult time and to remain a reliable, durable, and trusted source of capital and liquidity to rural America. |
• | Serving Our Customers: We remain focused on serving the needs of our customers and are committed to helping them provide flexibility and assistance to their borrowers
who are experiencing financial challenges due to COVID-19. |
• | Risk Factors: The full effects of COVID-19 are evolving and unknown, but already it is clear that it is weighing on the macroeconomic environment and has increased economic and market uncertainty. We are actively evaluating potential emerging risk factors related to COVID-19 that are specific to Farmer Mac’s business, operations, and workforce and will update the risk factors included in our Annual Report on Form 10-K for the year ended December 31, 2019 with the SEC as we determine necessary or appropriate. |
This ‘8-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on / For Period end: | 3/26/20 | |||
3/12/20 | ||||
12/31/19 | 10-K, 4, ABS-15G | |||
List all Filings |