Treasury bill

Treasury bill

noun
an obligation of the U.S. government represented by promissory notes in denominations ranging from $1000 to $1,000,000, with a maturity of about 90 days but bearing no interest, and sold periodically at a discount on the market.
Also, treasury bill.


Origin:
1790–1800

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
Treasury bill
 
n
a short-term noninterest-bearing obligation issued by the Treasury, payable to bearer and maturing usually in three months, within which it is tradable on a discount basis on the open market

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