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Treasury Securities Investments in debt obligations of the U.S. Government. <br />These are backed by the full faith and credit of the U.S. <br />Government. Treasury securities are considered the most <br />liquid and safest investment next to cash. The treasuries are <br />used as benchmark comparisons for other types of <br />investments. Treasury securities are issued with various <br />schedules and maturities. <br />1. Treasury Bills -Short-term with maturities one year or <br />less. They are issued at a discount from face value. <br />2. Treasury Notes Intermediate securities with maturities <br />of 1 to 10 years. <br />3. Treasury Bonds Longer-term securities with maturities <br />10 years or longer. <br />y1e/d The rate of annual income return on an investment, <br />expressed as a percentage. <br />Final Investment Policy Glossary 3 <br />