The answer is it's confined in temporary cash pools, whether in the Supplementary Financing Account or excess reserve deposits or in time-sensitive T-bills.
答案是它被限制在临时现金池中，无论是在补充资金帐户中亦或是在超额储备存款中亦或在时间敏感的短期国债中。
The Fed printed money to pay for these T-bills, so there is excess liquidity that is trapped in time-sensitive debt.
美联储通过印制钱币来支付这些短期国债，因此，流动性过多这部分被困在对 时间敏感的短期国债之中了。
It buys off toxic defaulting assets in exchange for cash and immediately reclaims the cash by selling the Banks' T-bills.
它以现金收买不良的违约资产，并立即通过卖出银行的短期国债收回现金。
The interest rate of T-Bills is determined at each auction, depending on what bidders are willing to pay.
短期国库券的利率在每次拍卖时由投标人的出价决定。
The fire sale of T-bills will paralyze the repo market, drive up the sweeping borrowing costs, suck dry the liquidity and close up the spread in the carry trade.
国库券的抛售将会导致回购市场的瘫痪，提升借贷成本，吸干流动性和关闭套利交易。
But while T-bills are as safe from default as anything on the planet, they yield a very low rate of return.
但是虽然从违约来看 T-bill 和这颗星球上的其它事物一样安全，它的回报率却是极低的。
I'm talking about four-week Treasury bills; 2.25% the Federal Funds Rate is still at 2.25% but at least the more prominent three-month T-bill rate is at the end.
我在谈论月国库券；,联邦基金利率仍在%,但是至少显著地,季度国库券利率还在最低端。
The 30-year T-bond stands at 2.82%, and three-month Treasury bills were sold last week for a yield of just 0.05%.
30年期国债收益率为2.82 ％ ，3个月国库券，上周实际收益率仅为0.05 ％。
This thesis comes from a research topic "Government Cash Management and T-Bills Operation", which is cooperated by the People's Bank of China and Chinese Finance research Institute of SWUFE.
本文的选题源于中国人民银行与中国金融研究中心合作课题《国库现金管理与国债市场操作》。
There are different rates for the different exchange instruments: the rate for T/Ts or cable rate, the rate for cheques and sight drafts (demand rate), the rate for 30-day bills, etc.
不同的信用工具有不同的汇率，即电汇汇率、信汇汇率和票汇汇率。票汇汇率又分为即期票汇汇率和远期（30天）票汇汇率等。
There are different rates for the different exchange instruments: the rate for T/Ts or cable rate, the rate for cheques and sight drafts (demand rate), the rate for 30-day bills, etc.
不同的信用工具有不同的汇率，即电汇汇率、信汇汇率和票汇汇率。票汇汇率又分为即期票汇汇率和远期（30天）票汇汇率等。
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