Québec Treasury bills are short-term debt securities issued at a discount by the Québec government. The government conducts weekly auctions to major financial institutions for securities with maturities of three, six or twelve months.
Treasury bills can be obtained from major financial institutions at any time in multiples of $1 000, which is the smallest denomination. Treasury bills do not bear interest; they are sold below par and are redeemed at par. The difference between the issue price and the redemption price is the yield to the lender, in lieu of interest.
Treasury bills are negotiable at all times and offer good liquidity. The investment may be resold before maturity, but the rate is set by the market. To purchase Treasury bills, contact your investment dealer or chartered bank.