An agency bond, also called agency security or in slang agencies, is a bond issued by institutions in the United States that were originally created by the U.S. government to promote certain social goals, such as encouraging home ownership or providing student loans.

Well-known examples of such institutions are the Federal National Mortgage Association (FNMA or Fannie Mae), the Government National Mortgage Association (GNMA or Ginnie Mae), the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), and the Federal Home Loan Banks.

Although these government agencies operate independently, they are viewed by the market as institutions for which the U.S. government implicitly provides some guarantee. As a result, agency bonds have a lower credit rating ("rating") than U.S. government bonds, such as Treasury bonds.