There were liquidity issues at many brokers for short term T-Bills in the days and weeks before the debt ceiling crisis was resolved last year. Some brokerages

There were liquidity issues at many brokers for short term T-Bills in the days and weeks before the debt ceiling crisis was resolved last year. Some brokerages may have better liquidity and/or prices than others. It can be prudent to have multiple cash holding types in case there are issues with some of them.