In the U.S., yields on T-bills are usually quoted based on the bank discount yield.

Name: In the U.S., yields on T-bills are usually quoted based on the bank discount yield.
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Yields on T-bills in the U.S. are typically quoted based on the bank discount yield, which is a calculation that annualizes the difference between the purchase price and the face value, using the face value as the base.

In the US, Yields on T-Bills Are Usually Quoted Based on the on the Bank