According to The Financial Guide Glossary: "Treasury bills are short term government debt instruments. In the United States, for example, the market for short term central government debt is mainly comprised of Treasury bills with a maturity of one year or less. Standard maturities are 3 months, 6 months and, in some cases, 1 year.Treasury bills are usually issued at a discount and are redeemed at their full face value at maturity."
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