Agency issues is a term used to describe debt issues by Federal agencies in the United States. These special federal agencies are often created to channel credit to specific sectors of the economy (Freddie Mac for housing development for example).

Although this debt is not explicitly insured by the federal government, it is assumed that the government will step forth if the agency nears default.

Their yield above treasury securities is normally small (between 0.15 to 0.2% Per Annum).