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Investor FAQs

Investor FAQs

What is Farmer Mac and what is its mission?
  • Farmer Mac is a government-sponsored enterprise that was created by Congress. Our mission is to accelerate rural opportunities and help build a vibrant and strong rural America. Through our work, we increase the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, helping to strengthen the economic framework that supports rural America and enables families, businesses, and entire communities to thrive.
Where is the company’s headquarters?
  • The company’s corporate headquarters is in Washington, D.C.
What is the company’s legal name?
  • Under Farmer Mac’s congressional charter, its official name is the Federal Agricultural Mortgage Corporation. However, the Board of Directors has authorized the corporation to conduct business as Farmer Mac.
Who regulates Farmer Mac?
  • Farmer Mac is regulated by the Farm Credit Administration (FCA), an independent agency in the executive branch of the U.S. government. The FCA, acting through the Office of Secondary Market Oversight (OSMO), has general regulatory and enforcement authority over Farmer Mac and is responsible for an annual safety and soundness examination of Farmer Mac. Farmer Mac is required to file quarterly reports on its financial condition with the FCA and is also required to comply with the periodic reporting requirements of the Securities Exchange Act of 1934.
Is Farmer Mac an agency of the United States?
  • No. Farmer Mac is an instrumentality of the United States that was established under federal legislation first enacted in 1988 and amended most recently in 2008. The federal legislation is named Title VIII of the Farm Credit Act of 1971 (12 U.S.C. §§ 2279aa et seq.), which is sometimes referred to as Farmer Mac’s charter. Farmer Mac is a government-slionsored enterlirise (GSE) by virtue of the status conferred by its charter.
  • Due to Farmer Mac’s GSE status, its debt obligations are traded in the “U.S. agency debt” sector of the caliital markets.
What is a Government Sponsored Enterprise (GSE)?
  • A GSE is a privately held corporation created by the U.S. Congress to reduce the cost of capital for certain borrowing sectors of the economy.
Is Farmer Mac part of the Farm Credit System (FCS)?
  • Yes. Farmer Mac is an institution of the FCS, which is composed of the banks, associations, and related entities, including Farmer Mac and its subsidiaries, regulated by the FCA. Although Farmer Mac is an institution of the FCS, it is not liable for any debt or obligation of any other institution of the FCS. None of the FCA, the FCS, or any other individual institution of the FCS is liable for any debt or obligation of Farmer Mac or its subsidiaries.
How does Farmer Mac differ from Fannie Mae and Freddie Mac?
  • Purpose: Farmer Mac, Fannie Mae, and Freddie Mac were all created by Congress to support the secondary loan markets. While Fannie Mae and Freddie Mac provide liquidity to residential loans, Farmer Mac provides liquidity to agricultural and infrastructure finance loans.
  • Regulation: The Federal Housing Finance Agency provides regulatory oversight of Fannie Mae and Freddie Mac, while the Farm Credit Administration, acting through the Office of Secondary Market Oversight (OSMO), is responsible for the examination and supervision of Farmer Mac.
  • Congressional Oversight: Farmer Mac is overseen by the Agricultural Committees in the House of Representatives and the Senate, while Fannie Mae and Freddie Mac are overseen by the Senate and House Finance Committees.
Can borrowers get a loan directly from Farmer Mac?
  • No. Farmer Mac can only provide liquidity in the secondary markets. Please visit our Contact page to reach out to a Farmer Mac representative.
What is Farmer Mac’s ticker symbol?
  • Farmer Mac trades on the New York Stock Exchange under the symbols AGM and AGM.A.
What is the difference between Farmer Mac’s three classes of common stock?
  • Class A voting common stock. Farmer Mac’s charter restricts ownership to banks, insurance companies, and other financial institutions or similar entities that are not institutions of the Farm Credit System (FCS). Farmer Mac’s Class A voting common stock is listed on the New York Stock Exchange (NYSE) under the symbol AGM.A.
  • Class B voting common stock. Farmer Mac’s charter restricts ownership of Farmer Mac’s Class B voting common stock to Farm Credit System (FCS) institutions. Shares are not listed or quoted on any exchange.
  • Class C non-voting common stock. Farmer Mac’s charter does not impose ownership restrictions on Farmer Mac’s Class C non-voting common stock. Farmer Mac’s Class C non-voting common stock is listed on the New York Stock Exchange (NYSE) under the symbol AGM.
Does Farmer Mac offer a direct stock purchase or dividend reinvestment program?
  • No, Farmer Mac does not offer a direct stock purchase or dividend reinvestment plan.
Who is Farmer Mac’s transfer agent?
How do I transfer stock, change the address on my shareholder account, or replace a lost stock certificate?
  • For registered shares through EQ, each of these requests can be completed by contacting EQ via the information above. For shares owned through a brokerage, please contact the brokerage.
Does Farmer Mac receive funding from the Federal Farm Credit Banks Funding Corporation?
  • No. Farmer Mac issues its debt and equity securities through the capital markets.
Are Farmer Mac’s debt securities guaranteed by the U.S. government?
  • No. The U.S. government does not guarantee payments due on Farmer Mac’s debt or equity securities.
Does Farmer Mac have the authority to borrow from the U.S. Treasury?
  • Yes. Farmer Mac is authorized to borrow up to $1.5 billion from the U.S. Treasury through the issuance of debt obligations to the U.S. Treasury. Any funds borrowed from the U.S. Treasury may be used solely for the purpose of fulfilling Farmer Mac’s guarantee obligations.
Do Farmer Mac’s debt securities have a credit rating?
  • No. Farmer Mac’s GSE status allows it to receive continuous and cost-effective access to the U.S. Agency debt markets without a credit rating.
  • Investors’ investment policies often exempt GSEs and instrumentalities of the United States from rating requirements.
How can investors obtain information for a specific bond?
Where can I buy Farmer Mac debt securities?
  • Farmer Mac debt securities may be purchased from one of our approved dealers. Please visit our Approved Dealers page for more information.
What is the tax status of Farmer Mac debt securities?
  • Farmer Mac’s debt securities are fully taxable.
What is the typical volume of Farmer Mac’s issuance?
  • Please visit our Debt Activity page for more information on Farmer Mac issuances.
Where can I find the most recent debt investor presentation and fact sheet?
How can I get more information about upcoming Farmer Mac events?
  • Please visit our Events page.
Where can I get financial information on Farmer Mac?
  • Farmer Mac files annual, quarterly, and current reports, proxy statements, and other information with the SEC. You may access our financial information online or request copies.
How do I sign up for Farmer Mac email alerts?
  • Please refer to the “Information Request” tab on the Investors portion of the corporate website.
How can I get an annual report or proxy statement?
Whom can I contact for more information on equity and fixed income investor relations?
Whom can I contact for general information?
  • Please visit our Contact page for more information.

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