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Treasury Bills
Short term negotiable bill of exchange.
Product Description
- – Short term negotiable bill of exchange.
- – Used by Governments to help finance national borrowing requirements
- – Quoted for purchase/sale in the secondary market on an annual percentage yield to maturity.
- – Issued at discount.
Product Features
- – Short term debt instrument
- – Issued at zero coupon rates i.e. no interest paid during life-cycle of the bill.
- – Issued in fixed tenures i.e. 91days, 182days and 364days.
- – Primary dealers or investment bankers may underwrite it.
- – Interest is paid upfront
Your Benefits
- – T-bills qualify as liquid assets for the purpose of liquidity ratio computation.
- – Used as collateral securities for repurchase transactions
- – Interest received not subject to tax
- – Repayment guaranteed at maturity
Requirements
- – Letter expressing desire to invest in T-Bills and authority to debit account thereafter
- – Custodial authority duly signed by client
- – Copy of physical bill duly signed by investor and reflecting issuers name
- – Duly signed investment contract confirmation letter showing issuers name.
- – Filled KYC form
- – Account opening form with passport attached and means of identification
- – Cheque or lodgment slip
- – Custodial authority duly signed by client
- – Copy of physical bill duly signed by investor and reflecting issuers name
- – Duly signed investment contract confirmation letter showing issuers name.
- – Filled KYC form
- – You initiate request and comply with requirements above
- – Account officer verifies documents and forwards to treasury
- – Treasury raises deal slip and forwards to Trops
- – Customers account is debited in line with deal slip instructions
- – Contract certificates are generated
If you need assistance or have questions, we are always here to help.
