Treasury Bill (T-Bill) (T-Bill)

Short-term, highly liquid government securities issued at a discount from the face value and returning the face amount at maturity.

Treasury bills are the shortest-term government debt securities.

They are issued with a maturity date of 4, 13, or 26 weeks. The 13- and 26-week bills are sold weekly by competitive auction to institutional investors, and to noncompetitive bidders through Treasury Direct for the same price paid by the competitive bidders.