Securities issued by federal credit agencies. Federal agency securities are fully guaranteed, whereas government-sponsored agency securities are not.
Issued by U.S. government agencies and sponsored corporations such as Fannie Mae, Freddie Mac and Ginnie Mae, these securities carry direct or implicit government backing, with credit quality second only to Treasury securities.
Sold to the investing public, these securities are not direct obligations of the United States but carry some form of government guarantee or sponsorship. Funds raised by sales of these securities provide specialized credit for a variety of public needs, including housing, urban renewal, small business, the shipping industry, and foreign trade.
Federal agency securities are debt instruments issued by an agency of the federal government such as the Federal National Mortgage Association. Although these securities have high credit ratings due to the fact that they are sponsored by the federal government, unlike Treasury securities, they are not backed by the full faith and credit of the U.S. government.
Securities issued by corporations and agencies created by the U.S. government, such as the Federal Home Loan Bank Board and Ginnie Mae.
Fixed dollar obligations Fixed dollar security
Debt instruments of U.S agencies such as the Federal Home Loan Bank, the Federal National Mortgage Association, the Federal Farm Credit Bureau and Tennessee Valley Authority. Although these issues are not direct obligations of the U.S. Treasury, they still have a high credit rating.
Also known as agencies, these securities are issued by government agencies such as the Government National Mortgage Association (GNMA) or government sponsored enterprises (GSE) such as the Federal Home Loan Bank System.