Government Agency or Government-Sponsored Enterprise Security (“Agency Security”)

Agency securities are debt obligations issued by U.S. Government agencies and U.S. Government-Sponsored Enterprises (GSEs).  In addition to issuing debt obligations, GSEs may also sell equity shares.

Examples of U. S. Government agencies include:

  • Government National Mortgage Association (GNMA or Ginnie Mae)
  • Export-Import Bank of the United States (ExImBank)
  • Tennessee Valley Authority (TVA)

Examples of GSEs include:

  • Federal National Mortgage Association (FNMA or Fannie Mae)
  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac)
  • Federal Agricultural Mortgage Corporation (Farmer Mac)