We believe the appropriate place to list this stock is Schedule RC-B (Securities), Item 7. The FFIEC Call Report Instructions indicate that Farmer Mac Class A stock should be reported in Schedule RC-B (while Farmer Mac Class B stock is reported in Schedule RC-F (Other Assets)).

In addition, note that if your bank has adopted FASB Accounting Standards Update No. 2016-01, your bank also should report Class A Farmer Mac stock in Item 2c of Schedule RC-B. If your bank has not adopted the accounting standards update, you should leave balance sheet item 2.c blank and report the stock only in Schedule RC-B, item 7.

For resources related to our guidance, please see:

• FFIEC Instructions, Form 031 and Form 041, Schedule RC-B, Item 7, Investments in mutual funds and other equity securities with readily determinable fair values. (“Include in this item common stock and perpetual preferred stock of the Federal National Mortgage Association (Fannie Mae), common stock and perpetual preferred stock of the Federal Home Loan Mortgage Corporation (Freddie Mac), Class A voting and Class C non-voting common stock of the Federal Agricultural Mortgage Corporation (Farmer Mac), and common and preferred stock of SLM Corporation (the private-sector successor to the Student Loan Marketing Association.”)

• FFIEC Instructions, Form 031 and Form 041, Schedule RC – Balance Sheet, Item 2c (“Include in this item common stock and perpetual preferred stock of the Federal National Mortgage Association (Fannie Mae), common stock and perpetual preferred stock of the Federal Home Loan Mortgage Corporation (Freddie Mac), Class A voting and Class C non-voting common stock of the Federal Agricultural Mortgage Corporation (Farmer Mac), and common and preferred stock of SLM Corporation (the private-sector successor to the Student Loan Marketing Association).”)

• FFIEC Instructions, Form 031 and Form 041, Schedule RC – Balance Sheet, Item 2c (“NOTE: Item 2.c is to be completed only by institutions that have adopted FASB Accounting Standards Update No. 2016-01 (ASU 2016-01), which includes provisions governing the accounting for investments in equity securities, including investment in mutual funds, and eliminates the concept of available-for-sale equity securities. . . Institutions that have not adopted ASU 2016-01 should leave item 2.c blank and report their holdings of equity securities with readily determinable fair values not held for trading as available-for-sale equity securities in Schedule RC-B, item 7, and in Schedule RC, item 2.b”)