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Informal for a debt security issued by the United States government, as opposed to one of its agencies. Perhaps the most prominent example of a direct security is a U.S. Treasury security. Direct securities are considered risk-free because they are guaranteed by the full faith and credit of the United States government.

direct (federal) government obligation

A debt that is backed by the full taxing power of the U.S. government. Direct obligations include Treasury bills, Treasury bonds, and U.S. savings bonds. These investments are generally considered to be of the very highest quality. See also federal agency security.
References in periodicals archive ?
Is the concept of Direct Effect of EC Law out of date?
Assuming that Z is the variable to be evaluated for a direct effect, the first stage of the analysis involves a regression of Y against Z.
Students' learning goal orientation has the biggest direct effect on their learning strategies.
The influence of the federal funds rate on the cost of capital and through the cost of capital on consumption and investment is the largest of the three channels and accounts, on average, for about 55 percent of the total direct effect.
Since the camp program involved in this study placed heavy emphasis on continual use of appropriate positive reinforcements, the results strongly support Costello's (1976) contention that positive reinforcement in a child's environment has a direct effect on childhood depression.
Granted, outlays for office and other commercial buildings amount to only about 1 percent of GNP, and thus the direct effects on overall economic activity of even a sharp contraction in new construction are limited.
63 identifies the types of legal requirements that may have a direct effect on the entity's financial statements.
As expected, preservice teachers' effort judgments had a positive direct effect on their calibration accuracy, suggesting that those exerting more effort to understand the course materials were more accurate about their capabilities.
This situation is the simplest example of a direct effect on a foreign corporation.
Discussing calls to legalise marijuana, the report said it would, understandably, have a direct effect on drinking habits.
Gentle, efficient and precise, the Direct Effect features 15 customizable styles as part of the Rollerball, Soft-Slope and Pro-Tip series.