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Meaning of Treasury bill

Treas'ury bill"

Pronunciation: [key]
  1. an obligation of the U.S. government represented by promissory notes in denominations ranging from $1000 to $1,000,000, with a maturity of about 90 days but bearing no interest, and sold periodically at a discount on the market.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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