money market instrument
Noun
A generally large-denomination, high-quality debt instrument with a maturity of one year or less, as opposed to a capital market instrument.
Comment:
Includes negotiable instruments such as commercial paper (CP), asset backed-commercial paper (ABCP), banker’s acceptances (BA) and treasury bills (t-bills) as well as nonnegotiable financial instruments such as interbank loans, repos and federal funds.
