treasury bills

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

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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

Collins English Dictionary - Complete & Unabridged 10th Edition
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American Heritage
Cultural Dictionary
Treasury bills (T-bills)

Securities issued by the U.S. government. T-bills normally have fixed terms; that is, the purchaser cannot take possession of the accrued interest for a fixed period of time after purchase. T-bills are auctioned by the Treasury each week; the auction determines the six-month interest rate.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
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