Beginning 1996, level is the sum of the market value of common and preferred equity for Farmer Mac. The level of common equity is calculated from CRSP micro data as the sum of shares outstanding times share price at the end of the quarter. The level of total financial and nonfinancial preferred equity is benchmarked to data from Standard and Poor's and is calculated for other periods using a perpetual inventory method based on transactions data from Thomson Financial and the Standard and Poor's U.S. Preferred Stock Index. Total preferred stock is then allocated to Farmer Mac by applying Farmer Mac's share of total domestic financial corporate equity to the financial portion of the preferred stock, using a ratio from Standard and Poor's Compustat to split out preferred stock between financial and nonfinancial corporations. Preferred equity is not included prior to 1996Q4. Unadjusted transactions from Federal Agricultural Mortgage Corporation, Condensed Consolidated Statements of Cash Flows, Proceeds from common stock issuance less Purchases of common stock. Data for the most recent ten years show no significant seasonality.
Last edited on: 02/27/2024