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 July 24, 2014Posted July 25, 2014

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
2012 5,057 2,890 455 398 697 308 308 164 91 16 15 23 10 10
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014* 4,310 2,422 567 238 402 322 358 172 95 20 11 18 12 16
Monthly average
2014-Feb. 2,835 1,071 414 162 535 325 328 127 50 15 8 24 13 17
Mar. 3,600 1,757 505 256 244 490 347 145 72 17 10 10 18 17
Apr. 2,711 1,192 494 285 228 312 200 120 61 18 11 11 10 10
May 5,879 3,359 697 267 662 275 620 234 130 24 13 26 13 28
June 7,087 5,047 906 278 276 143 437 255 181 28 10 13 6 16
July* 6,041 3,756 759 242 418 418 447 231 139 28 11 19 15 19
Weekly (Friday) average
June 27 6,902 5,832 100 15 267 100 589 238 194 5 1 13 5 20
July 4 5,981 2,926 1,030 357 576 715 377 246 128 39 18 30 18 14
July 11 6,720 4,740 426 112 331 577 533 246 169 13 6 14 21 23
July 18 5,258 3,061 1,056 254 351 257 279 212 117 39 11 19 14 12
July 25* 6,351 4,335 608 283 400 115 610 229 149 24 12 12 4 27
Daily
July 18 6,595 2,618 2,847 449 347 159 175 250 113 100 15 12 6 4
July 21 7,759 5,518 447 623 706 100 365 259 185 24 14 20 2 14
July 22 6,720 5,644 95 29 275 146 532 231 183 5 3 8 7 25
July 23 7,217 4,758 1,051 116 182 138 972 287 170 46 4 10 6 51
July 24 3,707 1,418 838 363 439 77 571 138 58 23 26 10 3 18
* Data through July 24.

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
2012 5,241 3,097 675 599 676 143 51 249 142 29 30 37 8 3
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014* 4,778 2,760 689 602 564 107 54 422 237 59 58 54 11 4
Monthly average
2014-Feb. 4,948 2,927 787 498 512 141 83 424 246 63 47 48 13 7
Mar. 4,496 2,667 762 390 475 118 85 413 238 70 40 47 12 6
Apr. 4,656 2,707 667 628 514 115 25 408 229 60 59 47 10 2
May 5,460 3,104 673 778 715 134 55 478 265 60 73 63 14 3
June 4,912 3,030 560 695 515 76 36 420 246 45 65 53 8 3
July* 4,963 2,932 603 662 687 51 28 430 246 52 63 61 5 2
Weekly (Friday) average
June 27 4,536 3,205 275 499 493 38 27 376 238 30 49 50 4 4
July 4 5,778 3,007 743 837 1,089 58 44 464 239 56 73 89 4 2
July 11 4,831 2,975 477 645 629 94 11 408 243 42 60 54 10 1
July 18 4,832 2,918 587 584 671 23 49 438 255 56 57 63 2 5
July 25* 4,464 2,859 578 604 394 29 0 412 252 53 63 42 2 0
Daily
July 18 4,195 2,977 354 352 484 0 28 367 248 41 36 38 0 4
July 21 4,372 3,058 334 343 625 11 0 423 268 30 50 73 2 0
July 22 4,893 2,996 866 505 421 106 0 419 252 82 32 45 8 0
July 23 4,137 2,575 576 651 335 0 0 378 221 50 80 27 0 0
July 24 4,453 2,806 536 917 194 0 0 429 267 49 89 24 0 0
* Data through July 24.

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
2012 1,445 440 69 78 118 101 638 60 12 3 3 6 5 31
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014* 2,671 1,831 162 35 66 109 468 119 79 6 2 4 5 24
Monthly average
2014-Feb. 2,124 1,229 144 46 45 173 486 102 52 5 2 3 8 32
Mar. 1,979 1,421 85 22 67 87 298 87 57 3 1 4 4 17
Apr. 2,374 1,553 95 55 72 108 491 99 62 4 2 3 5 23
May 3,354 2,688 130 34 84 95 322 153 117 6 2 4 4 20
June 2,857 2,011 195 40 94 102 415 120 83 6 1 5 3 21
July* 4,089 2,895 460 28 67 62 577 180 128 15 1 4 3 29
Weekly (Friday) average
June 27 2,125 1,559 121 11 75 103 256 96 66 4 1 4 4 17
July 4 3,719 2,450 588 27 61 64 529 148 91 24 1 5 2 25
July 11 4,316 3,025 292 25 69 46 859 179 124 9 1 4 3 40
July 18 4,150 3,187 290 50 53 86 485 195 152 9 1 4 3 26
July 25* 3,494 2,222 658 24 106 59 426 165 114 20 1 5 2 22
Daily
July 18 3,338 2,356 200 200 0 256 326 137 100 4 4 0 8 21
July 21 4,154 2,863 747 0 101 1 442 198 146 21 0 8 1 22
July 22 3,394 2,534 361 44 99 58 298 198 150 14 4 7 2 21
July 23 3,117 1,806 914 50 25 2 321 138 82 27 1 1 1 26
July 24 3,311 1,684 611 0 200 174 642 126 80 18 0 5 5 18
* Data through July 24.

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
2012 15,681 8,780 1,532 421 2,816 787 1,346 447 246 42 14 81 25 41
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014* 9,570 5,181 746 245 1,629 479 1,290 382 213 34 9 60 19 46
Monthly average
2014-Feb. 10,711 5,959 647 240 1,849 399 1,618 415 231 32 11 67 18 58
Mar. 10,032 5,438 606 233 1,671 533 1,551 396 222 31 10 60 20 52
Apr. 8,465 4,629 600 158 1,478 429 1,171 343 195 31 6 53 16 41
May 9,128 4,555 686 247 1,640 538 1,462 366 189 35 10 60 22 50
June 9,692 5,259 772 460 1,709 400 1,093 382 212 35 15 62 17 41
July* 9,114 4,542 1,128 223 1,536 551 1,133 376 200 45 8 58 22 43
Weekly (Friday) average
June 27 10,021 5,506 687 834 1,777 429 789 375 211 33 28 56 18 29
July 4 9,500 5,271 1,067 233 1,142 382 1,404 386 222 43 10 47 18 46
July 11 9,643 5,000 1,242 211 1,340 661 1,189 402 219 48 8 52 27 48
July 18 9,376 4,179 1,072 266 1,990 753 1,116 380 187 43 7 78 26 39
July 25* 7,594 3,814 925 131 1,585 243 895 327 177 40 4 56 13 36
Daily
July 18 6,752 3,775 639 231 1,325 482 299 295 165 32 8 40 21 29
July 21 8,349 3,497 825 203 2,716 228 880 369 159 44 6 102 13 45
July 22 7,606 3,717 1,345 127 966 188 1,264 305 177 46 5 34 8 35
July 23 7,001 3,608 884 141 1,747 143 477 296 169 41 4 57 5 20
July 24 7,420 4,434 646 55 912 415 960 339 203 31 2 31 26 46
* Data through July 24.

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
2012 71,805 42,245 6,970 3,626 8,655 3,052 7,257 2,334 1,282 228 145 312 121 246
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* 77,525 50,549 8,507 2,978 6,319 2,467 6,704 3,367 2,057 358 189 335 127 302
Monthly average
2014-Feb. 81,100 53,828 7,842 2,859 6,737 2,461 7,373 3,437 2,087 336 184 349 130 352
Mar. 75,388 49,878 7,304 2,740 5,377 2,629 7,461 3,263 2,025 331 172 286 131 318
Apr. 68,804 43,495 7,555 2,882 5,717 2,519 6,636 3,081 1,855 339 178 297 126 287
May 81,320 53,212 9,053 3,199 6,572 2,504 6,780 3,561 2,183 379 206 354 132 307
June 82,510 56,384 8,557 3,524 6,611 1,897 5,537 3,458 2,210 353 202 337 102 254
July* 79,691 50,849 10,747 2,690 6,761 2,651 5,993 3,456 2,088 416 181 368 129 275
Weekly (Friday) average
June 27 83,838 60,115 6,614 3,681 6,569 1,680 5,179 3,450 2,294 296 201 323 97 239
July 4 77,364 44,420 10,733 3,331 8,557 3,386 6,937 3,412 1,883 426 222 456 140 284
July 11 80,365 51,649 9,812 2,378 7,104 2,642 6,780 3,451 2,095 370 168 387 135 296
July 18 76,556 48,877 10,166 2,949 6,525 2,548 5,491 3,424 2,079 399 177 368 134 268
July 25* 79,177 53,048 11,288 2,478 5,672 1,960 4,730 3,379 2,144 440 169 296 96 234
Daily
July 18 67,600 48,777 6,702 3,268 5,046 1,602 2,205 3,024 2,046 304 160 268 90 156
July 21 80,793 53,559 8,993 3,580 7,476 2,446 4,738 3,474 2,213 343 190 375 112 241
July 22 79,562 52,933 14,287 1,706 3,745 1,971 4,921 3,405 2,173 566 123 236 90 217
July 23 78,980 52,472 12,673 2,040 5,687 1,532 4,576 3,401 2,078 478 174 309 83 279
July 24 77,376 53,230 9,202 2,587 5,780 1,892 4,685 3,235 2,112 371 189 265 101 197
* Data through July 24.

Footnotes

1. Millions of dollars.

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Last update: July 25, 2014