Description Backed by the U.S. government, these financial instruments are short-term debt obligations with a maturity of less than one year. They are considered risk-free Investments. Issued by a nonfinancial firm, these financial instruments are guaranteed by a bank. There is less risk involved because of bank backing. These financial instruments are investment pools that buy such short-term debt instruments as Treasury bills (T-bills), certificates of deposit (CDS), and commercial paper. They can be easily liquidated. Issued by corporations, these financial instruments give their holders a class ownership in a company. They are considered the most risky but provide higher expected returns. Which of the following are money market instruments? Check all that apply. Treasury bills Corporate bonds Negotiable certificates of deposit Bankers' acceptances Preferred stocks The process through which savings and loan associations (S&Ls), banks, and entities such as Fannie Mae and Freddie Mac create financial instruments by combining other ancial assets, such as mortgages and credit card debt, is called Financial Instrument