An agreement entered into between an issuer of debt securities and a fiscal agent. It specifies the mechanics of issuing and paying principal and interest on the debt securities. A fiscal agency agreement may be used instead of an indenture in a transaction not required to comply with the Trust Indenture Act of 1939.

For a discussion of certain types of offerings that commonly involve a fiscal agency agreement, see Practice Notes, Schedule B Sovereign Debt Issued under the Securities Act and Bank Securities Offerings Exempt Under Section 3(a)(2).