Treasury Bills and Government Bonds are government securities issued by the Treasury of the Republic of Turkey, with a term of shorter than one year and with a term of one year and longer, respectively. These promissory notes can also be issued in foreign currency as well. Coupon government bonds may be indexed to a foreign currency, inflation rate or the bidding interests of the Treasury Bills. There is also a secondary market in place for these promissory notes with a state assurance. As the interest rates fall the prices will rise and vice versa, therefore trading may lead to profit or loss. In case they are kept until maturity, the yield from the fixed-income bonds and government bonds are fixed on the date of investment. In ICBC Turkey, you can find a buying or selling price for each Treasury Bill and Debenture in the market. A deposit slip is provided in the sales transaction and the commercial papers issued by the Central Bank of the Republic of Turkey may be physically delivered on demand.
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