§ 652.50. Definitions.
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/us/cfr/t12/s§ 652.50·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of this subpart, the following definitions will apply: AgVantage Plus means both the product by that name used by Farmer Mac and other similarly structured program volume that Farmer Mac might finance in the future under other names. Those AgVantage securities with initial principal amounts under $25 million and whose issuers were part of the original AgVantage program are excluded from this definition. Farmer Mac, Corporation, you, and your means the Federal Agricultural Mortgage Corporation and its affiliates as defined in subpart A of this part.
Our, us, or we means the Farm Credit Administration. Regulatory capital means the sum of the following as determined in accordance with generally accepted accounting principles:
(1)The par value of outstanding common stock;
(2)The par value of outstanding preferred stock;
(3)Paid-in capital, which is the amount of owner investment in Farmer Mac in excess of the par value of stock;
(4)Retained earnings; and,
(5)Any allowances for losses on loans and guaranteed securities. Risk-based capital means the amount of regulatory capital sufficient for Farmer Mac to maintain positive capital during a 10-year period of stressful conditions as determined by the risk-based capital stress test described in § 652.65. Rural utility guarantee fee means the actual guarantee fee charged for off-balance sheet volume and the earnings spread over Farmer Mac's funding costs for on-balance sheet volume on rural utility loans. [71 FR 77253, Dec. 26, 2006, as amended at 76 FR 23467, Apr. 27, 2011]