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TeachMeFinance.com - explain federal agency issues federal agency issues -- securities issued by a federal agency or an organization affiliated with the federal government. The securities are fully guaranteed as to principal and interest by the issuing agency, but are not direct debt obligations of the U.S. government and are not backed by its full faith and credit. The more common federal agency issues include obligations of the federal home loan banks, Farm Credit System, Federal National Mortgage Association, Government National Mortgage Association and Student Loan Marketing Association. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.