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Treasury
Securities  |
| Bills,
Notes & Bonds |
Bills-
A negotiable debt obligation issued by the U.S.
Government and backed by its full faith and credit,
having a maturity of one year or less. Exempt
from state and local taxes.
Notes
- A negotiable debt obligation issued by the U.S.
Government and backed by its full faith and credit,
having a maturity of between 1 and 7 years. Also
called a U.S. Treasury Note.
Bonds
- A negotiable, coupon-bearing debt obligation issued
by the U.S. Government and backed by its full faith
and credit, having a maturity of more than 7 years.
Interest is paid semi-annually. Exempt from
state and local taxes. Also called U.S. Treasury
Bond. |
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| Zero
Coupon Strips |
Issued by
the U.S. Government, by corporations, and by
municipalities. Issued at discount, with
interest accreted during the period until maturity and
with par value paid at maturity date.
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