Treasury Bill

Short-term U.S. government debt with a maturity of one year or less.

T-Bills are issued by the U.S. Treasury and are considered the safest investment in the world. They do not pay a coupon; instead they are sold at a discount and mature at face value, with the difference being the investor return. They are used as the risk-free rate in financial models.

Wanting zero risk, he parked his cash in a 3-month Treasury bill until he needed it.