United States Treasury Securities Direct obligations of the United States and include U.S. Treasury bills, notes, and bonds. United States Government Agency Securities Debt obligations of government agencies or government-sponsored enterprises. Municipal Securities Obligations of state and local governments and may be general obligations that are repaid from general revenues of other borrowing, or revenue bonds that are repaid from revenue of the projects they finance. Generally, only those assets of investment grade are acceptable. Commercial Loans Extensions of credit by an institution to its commercial customer are evidenced either by an individual promissory note or credit arrangement.
Commercial loans can be unsecured or secured.
Corporate Debt Corporate debt obligations which may be issued in both book-entry and definitive form. Generally, only those assets of investment grade are acceptable. These loans are evidenced by a promissory note or mortgage.