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What does money market instrument mean?

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money market instrument

A generally large-denomination, high-quality debt instrument with a maturity of one year or less, as opposed to a capital market instrument.

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.
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