Treasury Bill |
| A domestic government security usually with a life of 3 months but also up to one year maturity and considered to be a money market instrument. Such bills are issued at a discount and redeemable at par with no interest payable. They provide a principle way of financing borrowing. Other methods of government borrowing include the issuing of bonds or gilt-edged stocks (gilts) usually fixed interest, with a variety of redemption dates. |
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