Answer Posted / shashank gupta
treasury bills generally known as T-BILLS are the bills issued by federal government to raise money to fulfill its short term requirement.T-bills has a maturity of less than one year(generally from 91 days to 364 days). further these are different from the the notes and the bonds as T-bills does not pay any coupon. these are issued at discount and are repaid at face value, hence the returned earned by the investor is the difference between the issued price and the redemption price. most important, T-bills are used as benchmark ZCB for the valuation of coupon bearing bonds.
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