Agency debt securities

Many governmental agencies issue debt and mortgage-backed securities, often at slightly higher coupons and yields than Treasuries. While they are not direct government obligations, many offer some type of guarantee by the issuing agency.

Among the most active agency issuers are the Federal National Mortgage Association ("Fannie Maes"), the Federal Home Loan Mortgage Corporation ("Freddie Macs"), the Federal Home Loan Bank, the Federal Farm Credit Bank and the Student Loan Marketing Association ("Sallie Maes").

For more information about agency securities, call a Schwab Bond Specialist™ at 888-621-4355.

(0406-6456)

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