1.   The application manages financial instruments, including treasury bills, short-, medium- and long-term loans and interest rate hedges.

2.   Treasury bills are default-free, and high-quality commercial paper carries a minuscule default risk.

3.   Yields on government treasury bills are falling amid expectations of a second rate cut within three months, he said.

4.   Treasury bills are normally of three months to maturity.

5.   Treasury bills are issued by the Bank of England on behalf of the government.

6.   Treasury bills pay no rate of interest.

7.   Treasury bills are held as liquid assets.

8.   Treasury bills are negotiable, bearer government securities, and represent a charge on the Consolidated Fund.

9.   Treasury bills can be issued to the public in two ways.