Treasury Bill call

In the face of a less than effective conventional monetary policy, the Central Bank is proposing the route of Treasury Bills that should bring attractive interest rates to some businesses and consumers.
The three-month Treasury Bills, or T-bills, are part of a proposed intervention in the auction market by the Bank, and should ensure that local interest rates are kept in line with comparable United States rates while avoiding undue pressure on the international reserves.
T-bills are normally sold in the US in denominations of $1 000 up to a maximum purchase of $5 million with maturities of one, three or six months.
So if a buyer purchases a three-month T-bill priced at $9 800, for example, Government will write an IOU for $10 000 that it agrees to pay back in that period, and the appreciation – and value to the buyer – comes from the difference between the original payment ($9 800) and the amount one gets back ($10 000).