Real Dictionary

treasury bill
countable noun: A treasury bill is a short-term bond that is issued by the United States government in order to raise money.

treasury bill in American English
a short-term obligation of the U.S. Treasury, maturing in one year or less, bearing no interest and sold periodically on the open market on a discount basis
noun: an obligation of the U.S. government represented by promissory notes in denominations ranging from $1000 to $1,000,000, with a maturity of about 90 days but bearing no interest, and sold periodically at a discount on the market

Treasury bill in British English
noun: a short-term noninterest-bearing obligation issued by the Treasury, payable to bearer and maturing usually in three months, within which it is tradable on a discount basis on the open market