TOW (& Answer)...
The question was
what is instrumentality. To quote from
the source:
“Instrumentality - government agency issuing marketable securities backed the full faith and
credit guarantee of the government. The
term is normally used in connection with notes, certificates and bonds issued
by U.S. government agencies, such as the Export-Import Bank, the Government
National Mortgage Association, or the Small Business Administration, but can
refer more generally to any government agency.”
The question (& answer)
were taken from p. 236 of Dictionary of Banking Terms by Thomas P. Fitch. Published by Barron’s in 1997.
