Obligations that are issued by US governments and are obligated for short term are classified as

Obligations that are issued by US governments and are obligated for short term are classified as treasury bills. Treasury Bills, also known as T-bills are the short-term money market instrument, issued by the central bank on behalf of the government to curb temporary liquidity shortfalls. These do not yield any interest, but issued at a discount, at its redemption price, and repaid at par when it gets matured.