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treasury bill definition - legal

n

  1. A short-term promissory note issued by the federal government with a maturity of
  2. months,
  3. months, or one year. Treasury bills are sold at a discounted rate and attain full face value upon maturity. See also treasury bond and treasury note.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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