... local authorities in the Russian Federation. Corporate bonds. Issued by private companies and banks. The risk of these bonds is higher than that of government bonds, but they typically offer greater yields. Some companies issue bonds in foreign markets (currency bonds). Mortgage bonds. Secured by mortgage loans and issued by specialized mortgage agents. Such bonds are considered reliable (the collateral is real estate) and often have yields higher than OFZ. Subordinated bonds. Mainly issued by banks....