An "agency bond" is a debt security issued by a Federal government-sponsored enterprise and generally pays an interest rate close to (though generally higher than that of) a US Treasury bond for similar durations (for example, 1, 2, 5, or 10 years). Examples include bonds issued by the Government National Mortgage Association (GNMA), Federal National Mortage Corporation (Freddie Mac), the Tennessee Valley Authority (TVA), and the Federal Farm Credit Bank.