Glossary of Municipal Securities Terms

TREASURY SECURITIES

Debt obligations of the United States Government sold by the Treasury Department in the form of bills, notes and bonds (as well as SLGS sold to issuers of municipal securities) backed by the full faith and credit of the United States Government:

Bills Short-term obligations that mature in one year or less and are sold on the basis of a rate of discount.

Notes Obligations that mature between one year and ten years.

Bonds –  Long-term obligations that mature in ten years or more.

See: SLGS. Compare: AGENCY SECURITIES.

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