证券时报记者贺觉渊 为推动金融机构创新金融产品，《通知》鼓励金融机构因地制宜创设农业设施和畜禽活体抵押融资信贷 产品；鼓励金融机构在信贷评价和风险管理模型中有效运用农业保险综合情况，探索"农业保险+融 资"模式；鼓励金融机构发放基于农业设施和畜禽活体抵押的中长期贷款。 在拓展多元融资渠道方面，《通知》鼓励符合条件的金融机构发行"三农"专项金融债券。支持金融租赁 公司将符合要求的现代农业设施和畜禽活体等生产性生物资产作为适格租赁物，积极探索银租联动等创 新模式。 （文章来源：证券时报网） 农业设施和畜禽活体是农业经营主体的重要资产，价值开发空间巨大。推广农业设施和畜禽活体抵押融 资，有助于盘活农村产权资源，拓宽农村融资抵押物范围。《通知》要求，各地要聚焦投资价值高、示 范带动作用强的农业设施以及权属清晰的畜禽活体，优先选择在大中城市周边、设施农业集聚区和畜禽 养殖大县等地区，引导有较强运营实力的新型农业经营主体和大中型农业企业开展农业设施和畜禽活体 抵押融资，逐步建立规范管理制度，完善融资产品服务。 《通知》要求，规范农业设施和畜禽活体确权登记，包括完善农业设施确权登记制度，推广畜禽活体差 异化确权方式等。同时 ...

中国人民银行12月26日消息，近日，中国人民银行办公厅、农业农村部办公厅、金融监管总局办公厅联 合印发《关于推广农业设施和畜禽活体抵押融资的通知》。 通知提出，要高度重视农业设施和畜禽活体抵押融资工作，聚焦投资价值高、示范带动作用强的农业设 施以及权属清晰的畜禽活体开展抵押融资，逐步建立规范管理制度，健全风险防范化解机制。规范农业 设施和畜禽活体确权登记，建立健全申报、调查、核实、公示等工作流程，推广电子耳标、生物识别等 数字化技术应用。科学评估农业设施和畜禽活体价值，鼓励有条件的地方建立评估机构、人员配备等配 套管理制度。 通知强调，要完善农业设施和畜禽活体抵押登记模式，因地制宜建立抵押物清单名录，鼓励通过中国人 民银行征信中心动产融资统一登记公示系统规范开展登记、查询。支持有条件的地区建设农业设施和畜 禽活体抵押数字化管理平台，赋予抵押资产专属"二维码"。鼓励金融机构创新金融产品和服务方式，探 索"农业保险+融资"模式，用好信贷市场服务平台，加强信息共享与融资对接服务。建立健全信贷风险 分担和监测机制，探索创新担保服务路径，扩大保险覆盖范围，支持通过物联网平台等智能化手段，加 强在押资产管理。 通知要求， ...

Core Viewpoint - The new policy aims to enhance rural revitalization by allowing agricultural facilities and livestock to be used as collateral for financing, thereby improving access to loans for farmers and promoting the efficient use of rural resources [1][2]. Group 1: Collateral Assets - The new policy specifies two types of assets that can be used as collateral: agricultural facilities and livestock with clear ownership [2] - Agricultural facilities prioritized for investment are those with high value and strong demonstration effects [2] - Livestock such as pigs, cattle, and sheep will be registered using electronic ear tags and biometric identification, effectively giving each animal a "digital ID" for accurate ownership and traceability [2] Group 2: Financing Solutions - The policy introduces innovative loan products specifically for collateralized loans and explores the "agricultural insurance + financing" model to mitigate risks associated with farming and loan repayment [3] - It encourages the issuance of medium to long-term loans with flexible repayment methods to match the agricultural production cycle, reducing repayment pressure on farmers [3] - A risk-sharing mechanism is proposed, expanding agricultural insurance coverage and encouraging local risk compensation funds to share losses in case of loan defaults [3] Group 3: Asset Liquidation Channels - In case of loan defaults, the policy establishes a multi-level rural property trading platform for the auction of collateralized agricultural facilities and livestock [4] - It encourages rural collective economic organizations and agricultural enterprises to participate in "bottom-line repurchase" to ensure timely asset circulation and minimize losses [4] Group 4: Policy Incentives - The policy includes multiple incentives to benefit farmers, such as pilot programs for loan interest subsidies to reduce financing costs [5] - Financial institutions that demonstrate strong lending performance and sustainability will receive differentiated credit policy support [6] - Regions that successfully promote agricultural facility and livestock collateral loans will be prioritized for funding arrangements [6]

《通知》要求，要不断完善抵押物处置机制，探索构建多级联网的农村产权交易平台，完善农村产权流 转交易，规范开展以农业设施为抵押物的不良资产收购处置业务，拓宽处置变现渠道。加强政策激励和 融资配套服务，综合运用货币、信贷等政策，激励引导金融机构扩大农业设施和畜禽活体抵押贷款投 放。深入推进现代设施农业建设贷款贴息试点，加强资金激励支持。各单位要积极宣传农业设施和畜禽 活体抵押融资政策，营造良好的舆论环境。 《通知》提出，要高度重视农业设施和畜禽活体抵押融资工作，聚焦投资价值高、示范带动作用强的农 业设施以及权属清晰的畜禽活体开展抵押融资，逐步建立规范管理制度，健全风险防范化解机制。规范 农业设施和畜禽活体确权登记，建立健全申报、调查、核实、公示等工作流程，推广电子耳标、生物识 别等数字化技术应用。科学评估农业设施和畜禽活体价值，鼓励有条件的地方建立评估机构、人员配备 等配套管理制度。 《通知》强调，要完善农业设施和畜禽活体抵押登记模式，因地制宜建立抵押物清单名录，鼓励通过中 国人民银行征信中心动产融资统一登记公示系统规范开展登记、查询。支持有条件的地区建设农业设施 和畜禽活体抵押数字化管理平台，赋予抵押资产专属" ...

记者了解到，下一步，中国人民银行将加强与农业农村部、金融监管总局等部门的协同配合，不断 完善支持保障制度，确保农业设施和畜禽活体抵押融资积极稳妥、规范有序推进。（记者吴雨、任军） 记者12月26日从中国人民银行获悉，为创新乡村振兴投融资机制，拓宽农业农村抵质押物范围，中 国人民银行办公厅、农业农村部办公厅、金融监管总局办公厅联合印发《关于推广农业设施和畜禽活体 抵押融资的通知》，盘活农村资源要素，助力推进乡村全面振兴。 【纠错】 【责任编辑:施歌】 农业设施和畜禽活体是农业经营主体的重要资产，价值开发空间巨大。通知提出，聚焦投资价值 高、示范带动作用强的农业设施以及权属清晰的畜禽活体开展抵押融资，逐步建立规范管理制度，健全 风险防范化解机制。规范农业设施和畜禽活体确权登记，建立健全申报、调查、核实、公示等工作流 程，推广电子耳标、生物识别等数字化技术应用。 根据通知，相关部门将完善农业设施和畜禽活体抵押登记模式，因地制宜建立抵押物清单名录，鼓 励通过中国人民银行征信中心动产融资统一登记公示系统规范开展登记、查询。支持有条件的地区建设 农业设施和畜禽活体抵押数字化管理平台，赋予抵押资产专属"二维码"。鼓励金融机 ...

12月26日金融一线消息，近日，中国人民银行办公厅、农业农村部办公厅、金融监管总局办公厅联合印 发《关于推广农业设施和畜禽活体抵押融资的通知》（以下简称《通知》）。《通知》提出，加强货币 信贷政策工具支持。综合运用货币、信贷等政策，激励引导金融机构扩大农业设施和畜禽活体抵押贷款 投放。对投放力度大、经营效果好、可持续性强的金融机构给予差异化信贷政策支持。加强资金激励支 持。深入推进现代设施农业建设贷款贴息试点。鼓励有条件的地方设立贷款风险补偿基金，对发生违约 的农业设施和畜禽活体抵押贷款按照约定分担比例进行补偿。对于推广农业设施和畜禽活体抵押贷款工 作取得较好成效的地区，在有关资金项目安排中予以优先考虑和支持。 责任编辑：秦艺 12月26日金融一线消息，近日，中国人民银行办公厅、农业农村部办公厅、金融监管总局办公厅联合印 发《关于推广农业设施和畜禽活体抵押融资的通知》（以下简称《通知》）。《通知》提出，加强货币 信贷政策工具支持。综合运用货币、信贷等政策，激励引导金融机构扩大农业设施和畜禽活体抵押贷款 投放。对投放力度大、经营效果好、可持续性强的金融机构给予差异化信贷政策支持。加强资金激励支 持。深入推进现代 ...

《通知》强调，要完善农业设施和畜禽活体抵押登记模式，因地制宜建立抵押物清单名录，鼓励通过中 国人民银行征信中心动产融资统一登记公示系统规范开展登记、查询。支持有条件的地区建设农业设施 和畜禽活体抵押数字化管理平台，赋予抵押资产专属"二维码"。鼓励金融机构创新金融产品和服务方 式，探索"农业保险+融资"模式，用好信贷市场服务平台，加强信息共享与融资对接服务。建立健全信 贷风险分担和监测机制，探索创新担保服务路径，扩大保险覆盖范围，支持通过物联网平台等智能化手 段，加强在押资产管理。 《通知》要求，要不断完善抵押物处置机制，探索构建多级联网的农村产权交易平台，完善农村产权流 转交易，规范开展以农业设施为抵押物的不良资产收购处置业务，拓宽处置变现渠道。加强政策激励和 融资配套服务，综合运用货币、信贷等政策，激励引导金融机构扩大农业设施和畜禽活体抵押贷款投 放。深入推进现代设施农业建设贷款贴息试点，加强资金激励支持。各单位要积极宣传农业设施和畜禽 活体抵押融资政策，营造良好的舆论环境。 下一步，中国人民银行将加强与农业农村部、金融监管总局等部门的协同配合，及时总结各地、各金融 机构的典型经验和做法，不断完善支持保障制 ...

Core Viewpoint - The article emphasizes the importance of financial support in achieving agricultural modernization and rural revitalization in China, highlighting the innovative financial services provided by Agricultural Bank of China (ABC) in Quzhou to empower rural industries and improve livelihoods [1]. Group 1: Empowering Leading Enterprises - Agricultural leading enterprises are crucial for rural industrial revitalization, and ABC Quzhou has introduced innovative financial products like living asset collateral and facility collateral to address the financing challenges faced by agricultural enterprises [2]. - The case of Zhejiang Helu Dairy Farm illustrates how the use of smart ear tags for cattle has enabled the farm to secure a loan of 4 million yuan, enhancing its operational efficiency and expected sales growth [2]. - ABC Quzhou has provided credit support exceeding 1.37 billion yuan to over 80 leading agricultural enterprises this year, enhancing the overall competitiveness of related industries [2]. Group 2: Building Credit Villages - ABC Quzhou is addressing the financing difficulties faced by farmers by establishing a comprehensive service channel that includes credit villages, which has led to significant improvements in local economies [3]. - The transformation of Shangjiang Village, which became a pilot credit village, showcases the positive impact of financial support on local agricultural practices and economic growth, with collective income doubling [3][4]. - The bank's grid-based service model has facilitated the issuance of over 200 million yuan in loans, benefiting more than 370 households in rural areas [4]. Group 3: Strengthening Agricultural Associations - Agricultural associations play a vital role in connecting small farmers with larger markets, and ABC Quzhou has adopted a model that integrates associations with farmers to provide targeted financial services [6]. - The case of the ecological Huju planting base demonstrates how timely financial support from ABC Quzhou helped alleviate short-term funding pressures, enabling efficient harvest and production processes [6][7]. - The collaboration between associations and banks has reduced financial service barriers and costs, enhancing the resilience and competitiveness of small farmers in the market [7].

Summary of Federal Agricultural Mortgage Corporation (Farmer Mac) FY Conference Call Company Overview - **Company Name**: Federal Agricultural Mortgage Corporation (Farmer Mac) - **Ticker Symbol**: AGM - **Market Capitalization**: Approximately $2 billion - **Total Assets**: About $40 billion, with $31 billion in business volume - **Employee Efficiency**: Core earnings per employee at approximately $900,000 [6][7][12] Core Business Segments - **Agricultural Finance**: Accounts for about two-thirds of business volume, with core farmland mortgages at $18.2 billion [14] - **Infrastructure Finance**: Comprises one-third of business volume, including power and utilities, renewable energy, and broadband infrastructure [16][19] Financial Performance - **Revenue and EPS Growth**: Low double digits compound annual growth rate over the last 10 years [7] - **Net Effective Spread**: Increased from 90 basis points to 120 basis points over five years [21] - **Cumulative Losses**: Only 12 basis points of cumulative losses in agricultural finance loans [28] Market Dynamics - **Agricultural Sector**: Challenges in soybean, cotton, and rice markets due to reliance on exports, particularly to China [42][45] - **Renewable Energy**: Significant growth in renewable energy financing, particularly solar and battery projects, with expectations for continued expansion [17][18] - **Broadband Infrastructure**: Focus on providing liquidity for telecommunication services and data centers, with strong growth anticipated [20] Strategic Initiatives - **Diversification**: Expanded into corporate agricultural finance and infrastructure to mitigate risks and enhance growth [9][15] - **Securitization**: Completed six securitization transactions totaling $1.8 billion, with plans for more [34][35] - **GSE Funding Advantage**: Access to capital markets similar to other government-sponsored enterprises, providing competitive rates [39][40] Risk Management - **Asset Liability Management**: Focus on matching interest rate risk and maintaining liquidity with $8 billion in liquidity reserves [12][31] - **Credit Quality**: Strong credit metrics with no significant sector concerns, supported by diversification across commodities [28][29] Shareholder Returns - **Dividend Growth**: 14 consecutive years of dividend increases, with a current yield of 3.5% [36][49] - **Future Outlook**: Optimistic about market opportunities and potential for continued dividend growth as business matures [37][49] Conclusion - **Unique Positioning**: Farmer Mac is a mission-driven public company with a unique focus on providing liquidity across agriculture and infrastructure sectors, supported by a strong GSE funding advantage and disciplined risk management practices [38][49]

Group 1: Agricultural Innovation Forum - The 19th Yangling International Agricultural Science and Technology Forum opened with the theme "New Quality Agricultural Productivity: Innovation, Integration, and Green" [1] - The forum was co-hosted by multiple organizations, including the Shaanxi Provincial Department of Science and Technology and the Northwest A&F University, with over 80 guests and experts from 12 countries participating [1] - Discussions will focus on the development of new quality agricultural productivity and modern agricultural technology innovation, aiming to provide strong momentum for global agricultural sustainable development [1] Group 2: Agricultural Robotics Competition - The second RuiKang (Yangling) Global Agricultural Robotics Application Competition commenced, featuring six core competition categories including innovative equipment and intelligent perception [2] - The competition aims to promote innovation in the agricultural intelligent equipment industry by providing a platform for exchange and competition [2] - The organizing committee has been active in the industry for ten years, contributing positively to the development of the global intelligent equipment sector through various activities [2] Group 3: Agricultural Policy and Financial Support - A special event titled "Agricultural Policy Finance Empowering Modern Seed Industry Revitalization" was held, focusing on credit policies related to seed and agricultural technology finance [3] - The China Agricultural Development Bank has established a close cooperative relationship with the province, having issued over 200 billion yuan in loans since the 14th Five-Year Plan [3] - The bank is exploring innovative credit products tailored to the seed industry, addressing financing challenges faced by seed enterprises [3]