Board of Governors of the Federal Reserve System

Commercial Paper

Volume Statistics for Commercial Paper Issuance Derived from data supplied by The Depository Trust & Clearing Corporation

Data as of May 21, 2015Posted May 22, 2015

Volume statistics for daily commercial paper issuance are provided for each of the commercial paper rate categories: AA nonfinancial, A2/P2 nonfinancial, AA financial, and AA asset-backed; as well as for the total market. Total market is not the sum of the four rate categories as there is additional issuance that does not fall in any of the rate categories. The criteria that determine which issues are included in the rate categories are detailed in the Rate Calculations section of the About page of this release. The market statistics reflect all sales of commercial paper to investors by dealers or direct issuers, excluding secondary issues and repurchase agreement and financing issues.

AA nonfinancial

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014 4,926 2,892 736 251 425 292 330 189 109 25 11 18 12 15
2015* 4,805 2,902 631 344 486 196 244 187 113 20 14 20 8 10
Monthly average
2014-Dec. 5,808 3,955 919 280 269 149 236 227 152 34 13 12 7 10
2015-Jan. 4,944 3,033 240 416 660 351 243 194 114 8 19 27 14 11
Feb. 4,805 2,869 580 285 597 158 316 188 108 20 14 26 7 14
Mar. 4,256 2,403 829 423 401 67 133 179 108 29 16 17 3 5
Apr. 3,658 1,819 618 310 400 223 290 145 80 17 12 16 8 13
May* 7,106 5,090 950 256 368 189 252 246 176 27 11 15 7 10
Weekly (Friday) average
Apr. 24 3,530 1,522 806 264 444 216 279 135 73 23 9 13 8 9
May 1 4,297 2,694 479 247 317 221 340 168 107 13 13 11 9 15
May 8 7,961 5,919 1,459 82 124 114 265 263 196 42 4 5 5 11
May 15 6,396 4,438 625 561 434 138 201 227 162 16 17 20 4 8
May 22* 7,671 5,687 897 107 532 256 192 265 193 26 9 20 11 6
Daily
May 15 4,456 2,753 100 607 836 78 80 192 121 2 22 41 3 3
May 18 10,225 8,879 204 269 500 123 250 351 292 6 20 19 6 8
May 19 7,157 5,266 650 96 494 432 218 258 178 18 8 23 23 8
May 20 9,423 6,894 1,493 35 432 270 300 322 235 48 3 18 8 10
May 21 3,878 1,709 1,240 27 702 200 0 130 67 32 4 21 6 0
* Data through May 21.

A2/P2 nonfinancial

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014 4,885 2,874 654 614 570 117 55 428 245 57 57 54 11 4
2015* 5,610 3,112 776 712 784 166 60 499 258 65 75 80 16 5
Monthly average
2014-Dec. 4,959 2,853 601 583 657 175 90 427 231 51 58 63 17 6
2015-Jan. 5,727 3,039 889 810 806 143 40 507 256 76 75 80 15 4
Feb. 6,088 3,494 961 824 596 134 79 521 283 68 89 62 13 6
Mar. 6,007 3,545 804 598 841 187 33 546 306 70 68 85 15 2
Apr. 4,759 2,488 535 645 850 180 61 452 220 49 74 87 18 5
May* 5,518 3,009 704 707 814 186 99 461 216 65 71 84 18 8
Weekly (Friday) average
Apr. 24 5,039 2,865 727 487 672 206 81 459 236 68 61 64 25 5
May 1 4,956 2,819 519 709 714 161 34 438 222 47 73 76 17 3
May 8 5,079 2,794 679 619 756 154 78 443 192 69 73 80 21 7
May 15 5,393 2,967 694 674 725 195 138 445 219 59 65 77 17 7
May 22* 6,062 3,156 818 813 950 227 98 494 231 76 73 88 16 10
Daily
May 15 6,270 3,320 498 1,381 828 200 43 527 259 39 126 82 10 11
May 18 6,140 3,468 737 856 848 188 44 524 260 65 74 100 12 13
May 19 5,842 3,235 524 1,037 759 228 59 482 245 50 89 67 20 11
May 20 6,059 3,452 865 494 785 398 65 468 236 84 43 79 24 2
May 21 6,207 2,470 1,144 866 1,409 93 225 501 182 103 87 107 8 14
* Data through May 21.

AA financial

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014 2,983 2,185 148 33 66 107 444 134 97 5 2 3 4 23
2015* 1,048 428 143 28 52 85 313 62 30 6 2 3 4 17
Monthly average
2014-Dec. 1,166 507 83 18 49 135 374 63 32 4 1 3 4 20
2015-Jan. 1,185 473 119 3 34 113 443 71 34 5 1 2 5 25
Feb. 1,116 489 125 6 18 87 391 65 32 6 1 2 3 21
Mar. 945 456 124 17 41 72 235 64 34 6 1 4 4 15
Apr. 963 375 182 57 35 60 255 56 29 7 3 2 3 12
May* 1,055 329 167 63 161 98 237 50 21 5 2 6 4 11
Weekly (Friday) average
Apr. 24 964 456 69 51 63 53 272 54 30 2 2 3 3 14
May 1 679 252 125 66 76 37 124 39 22 4 2 4 2 6
May 8 1,240 346 151 80 117 188 358 57 25 5 3 5 6 13
May 15 929 379 75 105 122 34 215 41 16 2 3 5 3 12
May 22* 1,067 265 303 4 262 84 149 55 22 10 1 10 4 8
Daily
May 15 1,024 449 50 210 153 52 110 37 17 1 6 6 2 5
May 18 1,103 299 327 16 190 53 218 63 23 15 3 9 2 11
May 19 798 310 109 0 267 10 102 37 20 3 0 8 1 5
May 20 1,466 241 471 0 460 270 23 70 21 14 0 19 9 7
May 21 903 209 305 0 132 4 253 49 22 9 0 4 3 11
* Data through May 21.

AA asset-backed

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014 9,408 4,894 794 307 1,624 489 1,300 382 207 37 11 59 20 48
2015* 9,232 4,941 733 336 1,513 544 1,165 374 212 33 13 53 20 43
Monthly average
2014-Dec. 10,202 5,503 969 309 1,493 533 1,395 390 225 39 11 50 20 47
2015-Jan. 8,581 4,101 687 298 1,638 567 1,289 368 194 33 12 58 22 49
Feb. 10,020 5,103 791 375 1,611 489 1,652 412 226 37 15 56 19 58
Mar. 9,074 4,698 851 400 1,449 564 1,113 370 206 37 14 50 21 41
Apr. 8,018 4,601 531 279 1,362 550 694 333 199 26 11 49 20 27
May* 11,112 6,712 846 325 1,535 548 1,147 399 243 35 12 49 20 39
Weekly (Friday) average
Apr. 24 8,608 5,265 530 270 1,498 655 389 335 204 26 10 56 20 19
May 1 9,203 5,437 603 217 1,753 406 786 349 216 29 12 55 12 25
May 8 10,794 6,623 780 283 1,428 634 1,045 399 247 32 11 45 25 39
May 15 11,697 7,383 907 277 1,626 514 989 411 260 40 10 53 16 32
May 22* 11,320 6,425 855 420 1,563 579 1,479 398 230 32 15 52 24 46
Daily
May 15 14,355 7,289 1,222 374 2,606 1,281 1,584 526 269 73 13 92 33 46
May 18 12,210 7,684 765 308 1,625 617 1,211 419 262 26 10 51 29 41
May 19 10,584 6,528 1,222 593 1,298 311 633 371 229 48 18 37 19 20
May 20 12,202 5,773 775 280 2,440 823 2,111 430 215 29 16 81 29 60
May 21 10,285 5,714 657 499 889 566 1,961 371 216 23 15 38 18 61
* Data through May 21.

Total market

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 77,384 48,518 9,644 3,265 6,513 2,586 6,858 3,190 1,889 364 188 326 129 295
2014 80,421 53,016 8,737 3,196 6,334 2,595 6,543 3,450 2,129 367 195 334 131 294
2015* 78,756 50,242 8,582 3,665 6,609 2,883 6,775 3,421 2,005 362 242 374 147 291
Monthly average
2014-Dec. 83,468 57,827 7,854 3,318 5,991 3,068 5,409 3,502 2,274 337 199 312 151 229
2015-Jan. 80,779 50,071 8,372 3,847 7,219 3,696 7,573 3,554 2,023 369 253 407 179 322
Feb. 82,508 52,158 9,107 4,075 6,720 2,546 7,903 3,596 2,104 382 276 366 128 340
Mar. 75,993 49,543 8,223 3,551 6,366 2,622 5,689 3,426 2,067 364 232 365 140 258
Apr. 71,826 44,963 8,510 3,542 6,235 2,669 5,908 3,143 1,812 341 233 364 139 254
May* 85,521 56,814 8,827 3,249 6,560 2,924 7,146 3,424 2,047 356 214 370 150 287
Weekly (Friday) average
Apr. 24 79,315 52,025 8,144 3,138 6,652 2,907 6,449 3,204 1,933 338 204 346 143 239
May 1 76,189 50,957 7,439 3,434 6,147 2,163 6,048 3,159 1,925 323 230 332 113 237
May 8 85,050 56,558 8,962 3,287 6,622 3,031 6,590 3,383 2,010 363 226 358 155 272
May 15 86,238 58,101 8,812 2,983 6,523 3,102 6,716 3,406 2,069 350 177 380 154 275
May 22* 88,717 57,411 9,889 3,511 6,583 2,787 8,537 3,569 2,091 391 234 375 148 329
Daily
May 15 87,175 56,258 7,366 3,948 8,217 3,942 7,445 3,515 2,097 313 242 420 161 282
May 18 92,098 63,696 10,264 3,281 6,014 2,606 6,237 3,656 2,277 351 224 379 145 280
May 19 82,127 57,084 7,149 3,502 5,499 2,507 6,385 3,346 2,107 316 207 277 170 269
May 20 92,844 57,573 11,217 2,822 8,458 3,768 9,006 3,773 2,113 442 209 477 177 355
May 21 87,800 51,291 10,926 4,437 6,360 2,266 12,521 3,500 1,866 456 297 367 102 412
* Data through May 21.

Footnotes

1. Millions of dollars.

Return to top

Last update: May 22, 2015