types of Treasury bills

there are several different types of Treasury bills. Regular-series bills are issued routinely every week or month in competitive auctions. Bills issued in the regular series have have original maturities of three months , six months , and one year. New three-and six-months bills are auctioned weekly, while one year bills normally are sold once each month. of these three bill maturities, the six-month bill provides the largest amount of revenue for the Treasury.
on the other hand, irregular-series bills are issued only when the Treasury has a special cash need. these instruments include tax-anticipation bills(TABs), strip bills, and cash management bills. Tax-anticipation bills were issued a number of years ago in an effort to attract the money set aside by corporations to pay their federal taxes. TABs were set up to mature one week after the quarterly date when corporate taxes came due; however, a corporation could redeem TABs at the Treasury for their full face value in payment of its taxes.
A package offering of bills requires investors to bid for an entire series of different maturities, Known as strip bills. investors who bid successfully must accept bills at their bid price each week for several weeks running. cash-management bills consist simply of reopened issues of bills that were sold in prior weeks. the reopening of a bill issue normally occurs when there is an unusual or unexpected need for Treasury cash.