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U.S. Treasury

The "U.S. Treasury" is responsible for issuing all bills, notes and bonds of the United States. The Treasury controls the U.S. Mint, Bureau of Public Debt, IRS and Alcohol and Tobacco Tax Bureau. Some of the Treasury's largest responsibilities include printing bills and Federal Reserve notes as well as minting coins, tax collection and tax law enforcement as well as management of all U.S. banks.

 

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   T-Bill

A "Treasury bill" or "T-bill" is a short-term debt obligation backed by the U.S. government. T-bills are sold in denominations of $1,000 (up to a maximum of $5 million) and typically have maturities of four weeks, 13 weeks, or 26 weeks. T-bills do not pay a fixed interest payment. They are issued through a competitive bidding process at a discount from par. It is the appreciation of the T-Bill that provides a return to the holder. For example, a 13-week T-bill might be purchased for $9,800, with the U.S. government agreeing to pay $10,000 for the T-Bill at the end of the 13-week period. This provides a $200 return to the holder. Additionally, T-bills are exempt from state and local taxes. T-bills may be purchased directly from the U.S. government at www.treasurydirect.gov.
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