Treasury Bills

Treasury bills (T-bills) are government bonds issued by the United States Department of the Treasury that mature in one year or less. Treasury bills are issued for the following terms:

- 4 weeks

- 13 weeks

- 26 weeks

- 52 weeks

Treasury bills are issued as zero-coupon bonds. This means they do not make coupon payments (pay interest) prior to maturity like a bond with a coupon rate would. Instead, treasury bills are sold at a discount and the T-bill holder receives the full face value of the bond at maturity.