Treasury Bill Law & Legal Definition
A treasury bill is a negotiable debt obligation issued by the U.S. government and backed by its full faith and credit, having a maturity of one year or less. Treasury bills are exempt from state and local taxes. It is also called a Bill or T-Bill or U.S. Treasury Bill.
A treasury bill is a short-term obligation issued by the U.S. government, sold at a discount from its face value and redeemed at its face value upon maturity. Treasury bills, treasury notes, treasury bonds, and savings bonds are all different types of treasury securities.
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