Farmer Mac's Regulator Approves Revised Final Rule on Regulatory Capital Standards
13 May 2005 - 7:26AM
PR Newswire (US)
Farmer Mac's Regulator Approves Revised Final Rule on Regulatory
Capital Standards WASHINGTON, May 12 /PRNewswire-FirstCall/ -- The
Federal Agricultural Mortgage Corporation (Farmer Mac)(NYSE: AGM;
AGM.A) reported that its federal regulator, the Farm Credit
Administration ("FCA"), at an open meeting today of its Board,
approved a final rule that relates to regulatory capital standards
on certain assets held by Farm Credit System (FCS) institutions
other than Farmer Mac. Among other revisions, the Board removed
from the final rule a provision in the August 6, 2004 proposed
regulation that would have required FCS institutions to risk-weight
assets on their books that are guaranteed by a government
sponsored-enterprise (GSE), including Farmer Mac, based on the
issuer credit rating of the GSE as determined by a nationally
recognized statistical rating organization. Farmer Mac is a
stockholder-owned instrumentality of the United States chartered by
Congress to establish a secondary market for agricultural real
estate and rural housing mortgage loans and to facilitate capital
market funding for USDA-guaranteed farm program and rural
development loans. Farmer Mac's Class C non-voting and Class A
voting common stocks are listed on the New York Stock Exchange
under the symbols AGM and AGM.A, respectively. Additional
information about Farmer Mac is available on Farmer Mac's website
at http://www.farmermac.com/. DATASOURCE: Farmer Mac CONTACT:
Jerome Oslick of Farmer Mac, +1-202-872-7700 Web site:
http://www.farmermac.com/
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