What Is a T-Bill?

Treasury Securities refers to a type of government bonds issued by the national fiscal authorities to make up for the imbalance in the revenue and expenditure of the treasury. Treasury bills were invented by British economist and writer Walter Bazot in 1877 and were first issued in the UK. Because the debtor of the treasury bill is the state, and its repayment guarantee is the state fiscal revenue, it has almost no credit default risk and is the credit instrument with the least risk in the financial market. The shortest maturity of Chinese Treasury bills is one year, while there are many varieties of Treasury bills in Western countries, which can be divided into three months, six months, nine months and one year. Treasury bills are anonymous and can be transferred without endorsement.

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Treasury Securities means

With the withdrawal of Treasury bills in the economic field, Treasury bills issued over the years have also become the currency market.

Treasury bills China

Treasury bills with a face value of 50 yuan issued in 1983.

Treasury bills

China has not had a long history of issuing treasury bills, only 50 years of history. In 1950, the state issued the earliest national bonds, "People's Victory and Discounted Public Bonds". The unit of the People's Victory and Discounted Public Bonds was named "Cent". The total amount of the first public debt was 100 million cents. It was issued on January 5. Interest 5%. The second issue was stopped due to the improvement of the state's financial and economic conditions. Public debt is divided into four types: one point, ten points, one hundred points, and five hundred points. The issuance of public debt in 1950 kicked off the issuance of Treasury bills by China. The early issuance of public debt was an important financial measure adopted by the Central People's Government in the early days of the founding of the People's Republic of China to support the war of liberation and quickly unify the country in order to help stabilize the people's livelihood and restore and develop the economy. Since then, the Ministry of Finance of the People's Republic of China issued "national economic construction bonds" between 1954 and 1958. In this special era of 1958, the country's economic order was disrupted due to the "Great Leap Forward" and "hype" and national debt was forced to suspend. It was not until 1981 that the state resumed the issuance of national debt.

For more than ten years from 1981 to 1996, the Treasury bills issued were all physical coupons, with face value of 1 yuan, 5 yuan, 10 yuan, 50 yuan, 100 yuan, 1,000 yuan, 10,000 yuan, 100,000 yuan, and 1 million yuan Wait. Since 1992, the country has issued a small amount of certificate-type treasury bills, and since 1997, they have all used certificate-type and paperless online issuance of securities markets. But in the 1980s, when the Treasury bills were reissued, many people were just as ignorant of the Treasury bills as they were when they were issued. In the 1990s, people gradually became aware of Treasury bills. Treasury bills were issued by underwriting and underwriting. The issuance of Treasury bills also took a tortuous path.

Treasury bills

Treasury bills in the United States are government bonds issued by the US Treasury through the Public Debt Office.

T-Bills is short for TreasuryBills, a short-term bond issued by the US Treasury with a maturity of no more than one year.

T-Notes is short for TreasuryNote, a medium-term bond issued by the US Treasury with a maturity of no more than ten years.

T-Bonds is short for TreasuryBonds-soul, a long-term bond issued by the US Treasury with a maturity of more than ten years.

TIPS is the abbreviation of TreasuryInflationProtectedSecurities, also known as inflation-protected bonds. It was first issued by the US Treasury on January 15, 1997, with a size of $ 7 billion. In addition to the fixed interest rate coupons of general government bonds, the face value of TIPS will be adjusted regularly in accordance with the CPI index to ensure the authenticity of investor principal and interest.