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ultralane t1_jefyjsl wrote

Reply to comment by DerpyMcOptions in "No REALLY, we're doing fine" ~ every bank right now by JPowsSecretlover

T Bills are never considered as cash and any audit firm worth an ounce would have a friendly discussion with management and a disclosure to the public (if the issue isn't rectified).

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DerpyMcOptions t1_jeg695o wrote

Circle literally has it on their website they consider T bills as cash equivalent balances which is locked up as short term treasuries held at custodians like blackrock etc.

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ultralane t1_jega5nb wrote

I had gotten my treasury investments mixed up. If a maturity is going to be matured in 3 months, then the t-bill can be considered as cash. Otherwise its a short-term investment.

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DerpyMcOptions t1_jegfbqj wrote

They make no mention they were of 3-mo they could be 2yr dated and either way; if due as payment B4 maturity that would mean significant losses piled up and liquidated at losses. This means any of these dumb shitcoin/stablecoin which nosedive frequently are all false pegs and not stable.

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ultralane t1_jeglyty wrote

T-bills always mature within a year. Treasury notes lasts from 2 - 5 years. Treasury bonds are longer.

T-Bills are liquid assets, but I would definitely pause if they don't have the standard 3 month rule that everyone else normally applies.

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DerpyMcOptions t1_jegoiyr wrote

Circles site doesn't specifically mention t bills, they actually just say treasuries.

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DerpyMcOptions t1_jegou8w wrote

Q, why the fuck are you bothering to try and defend random shitcoins when you won't even go look it up?

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ultralane t1_jegshw1 wrote

I never said I was defending. If a maturity is maturing in 3 months or less, its allowed to be in Cash on their financial statements, assuming that it is disclosed on what's included. The lack of a hard and fast time rule is what is sticking out to me, assuming Reddit is stating the footnote correctly. The 3 month rule is applicable to 99.999999% of companies that follow GAAP. I really don't have an interest in going through some random companies FS. Just stating what is standard.

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