funding operations

1 The part of the national debt that consists primarily of short-term Treasury bills. Compare funded debt. See also funding operations.

2 Short-term...

1 The part of the national debt that the government is under no obligation to repay by a specified date. This consists mostly of Consols. Compare floating debt. See also...

The conversion of government debt from short-term forms, or bills, to long-term forms, or bonds. This is regarded as a form of monetary policy, since bills are more liquid than bonds, and...