Agency bonds


A bond issued by an entity that is issued by entities created by national governments for specific purposes such as financing small businesses or providing mortgage financing. (e.g. Fannie Mae bonds)

Because a quasi-government entity typically does not have direct taxing authority, bonds are repaid from the cash flows generated by the entity or from the project the bond issue is financing. 

Compare: Sovereign bonds, Non-sovereign bonds, Supranational bonds

Quasi-government bonds