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	Treasury Treasury Bill Treasury Note Treasury Bill Treasury Bond TIPS STRIPS Savings Bond Zero-Percent Certificate Treasury bills otherwise known as T-bills mature in less than or equal to one year. They are like zero coupon bonds in the sense that they do not pay an interest prior to maturity; instead of this, they are sold at a discount of the par value to create a positive yield at maturity. Treasury bills are considered by most investors to be the most risk free investment. Treasury Bills are commonly seen to be issued with maturity dates of 91 days or ~3 months, and 182 days or ~6 months. Treasury Bills are sold weekly at an auction held generally on Mondays. Banks and financial institutions, especially primary dealers, are known to be the largest purchasers of T-Bills. They are quoted for purchase and sale in the secondary market on an annualized percentage yield to maturity, also known as the 'basis'.