The table shows the rates on Treasury bills for each maturity Treasury currently issues, from the Treasury Department's Daily Treasury Bill Rates, for the latest business day. The key facts at the top state the latest rates in a sentence.
Two ways to state a bill's rate
Treasury lists two rates for each bill. The bank discount rate is the rate at which a bill is quoted in the secondary market, based on the par value, the amount of the discount and a 360-day year. The coupon equivalent, also called the bond equivalent or the investment yield, is based on the purchase price, the discount and a 365- or 366-day year. Treasury says the coupon equivalent can be used to compare a bill with a note or bond that pays interest twice a year.
Where the numbers come from
Treasury says these rates are daily secondary market quotations on the most recently auctioned bill of each maturity.
When it updates
Treasury publishes these rates for each business day, and this page reads Treasury's file every few hours and updates at the same address.
This page reports published rates and is not financial advice.