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FMI 💸 (Money Market Securities (Characteristics (Have maturities within…

- - - - Are issued by the U.S. Treasury
      - Are sold weekly through an auction
      - Have a par value of $1,000
      - Are attractive to investors because they are backed by the federal government and are free of default risk
      - Are liquid
      - Can be sold in the secondary market through government security dealers
      - Investors
        
        Depository institutions because T-bills can be easily liquidated
        
        Other financial institutions in case cash outflows exceed cash inflows
        
        Individuals with substantial savings for liquidity purposes
        
        Corporations to have easy access to funding for unanticipated expenses
    - - Price
      - Yield
      - Discount
      - Auction
        
        Competitive/Non-competitive