Agency Securities

securities issued by US Government sponsored entities( gse’s) end federally related institutions GS he’s currently issuing Securities comprise 8 publicly chartered entities created to reduce borrowing costs for certain sectors of the economy such as Farms Farmers homeowners and students they include a federal Farm Credit bank system the Farm Credit Financial Assistance Corporation Federal Home Loan Bank Federal Home Loan mortgage Corporation Federal National Mortgage Association( Fannie Mae) and Incorporation( FICO) gse’s issue discount notes with maturities ranging from overnight to 360 days and bonds with the exemption of the Farm Credit Financial Assistance Corporation GSE Securities are not backed by the full faith and credit of the United States government other gse’s that formally issued directly now borrow from the Federal Financing Bank

 Agency Securities part 2

 federally related institutions are arms of the United States government and have not issued Securities directly into the marketplace since the Federal Financing Bank was established to meet their Consolidated bar in needs in 1973 include the export-import bank( exit Bank) of United States the commodity Credit Corporation the farmers housing Administration the general Services administration of the government National Mortgage Association the maritime Administration the private export funding Corporation the rural electrification Administration the Rural Telephone Bank the small business administration the Tennessee Valley Authority and the Washington metropolitan area transit authority except for the private export funding Corporation and the TV a Tennessee Valley Authority federally related institutions obligations are backed by the full faith and credit of the US government agency Securities are exempt from SEC registration and from the state and local income taxes see also Federal Farm Credit system Federal home loan bank system