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)